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Post by mrclondon on Oct 4, 2017 15:05:23 GMT
[...]
06/07/2017 Borrower is going to forward latest marketing material early next week. Completed units are being actively marketed by the Borrower's own internal sales team.
[...] Aha ... the "borrowers own internal sales" can be found easily ( ! ) enough (google the name of the borrowing company's corporate shareholder, or simply ShareholderName.co.uk) and follow the menu links "Services - Property Development", then scroll down to find the logo for The A*****. Click, to reveal the following marketing blurb. I've registered on their site but there is no additional info after logging in, and no sign of those long promised professional photos ! This business model of selling rooms as investments leaves me feeling queasy at the best of times.
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agent69
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Post by agent69 on Oct 4, 2017 15:17:18 GMT
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mikes1531
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Post by mikes1531 on Oct 4, 2017 17:38:56 GMT
This business model of selling rooms as investments leaves me feeling queasy at the best of times. I can't help but see the similarities with selling units in the student accommodation blocks that seem to be popping up everywhere. Should we be worried about that business model as well? Or does the fact that student accommodation tends to be let for a term at a time make them more suitable for this than hotel rooms rented one night at a time? Perhaps it's not an issue for P2P lending to the developers of the student accommodation -- if the developer can sell the units successfully then the P2P investors get their capital back with interest. But if the people who buy the units typically end up with losses then I'd question whether I really want to support this 'industry'.
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Post by mrclondon on Oct 4, 2017 18:24:50 GMT
This business model of selling rooms as investments leaves me feeling queasy at the best of times. I can't help but see the similarities with selling units in the student accommodation blocks that seem to be popping up everywhere. Should we be worried about that business model as well? Or does the fact that student accommodation tends to be let for a term at a time make them more suitable for this than hotel rooms rented one night at a time? Perhaps it's not an issue for P2P lending to the developers of the student accommodation -- if the developer can sell the units successfully then the P2P investors get their capital back with interest. But if the people who buy the units typically end up with losses then I'd question whether I really want to support this 'industry'. I think student rooms for universities etc are slightly different, for the resaon you say, that normally they are let for one or more academic terms, and require minimal management. Aparthotels such as this require extensive letting management and each room will have significant void periods. In a small Norfolk market town its hard to see massive demand for such accomodation, and hence it would seem at face value to be a poor investment choice (hence my comment about feeling queasy in supporting this model). Two other p2p instances of uncertain letting demand for such rooms spring to mind - the FS Lancaster Hotel and the MT Paisley language school.
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Post by GSV3MIaC on Oct 5, 2017 15:09:20 GMT
With these sort of schemes it is always interesting to look at whether the proposer has ever done this sort of thing before ('No' = bad), and if so what the outcome was some reasonable period down the road (company went 'poof' = VERY bad), and/or even what else they have been involved in with what result (see also double glazing -> conservatory -> timeshares -> Solar PV -> 'free boiler on benefits' speed-morphing sales people). In some cases, while you might get your loan repaid, it is apparent (or at least very likely) that the ultimate funding sources (fund-a-room punters) are going to get a pasting.
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Post by loftankerman on Oct 6, 2017 9:34:04 GMT
I smelled a rat and got out a good while ago. The images on Street View, especially around to the rear were most unappealing and the logic of supposedly having completed the development but then doping around musing about marketing was ridiculous. Marketing delays seemed more like a smoke screen to hide the fact that the wheels had come off and they were just paralysed waiting for everything to hit the fan.
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mikes1531
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Post by mikes1531 on Oct 6, 2017 18:23:58 GMT
I took advantage of the improved liquidity provided by the PBL143 repayment to get out of this loan.
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mary
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Post by mary on Nov 24, 2017 10:04:55 GMT
Repaid. Think that's the first DFL to ever actually repay!
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Post by baglan on Nov 24, 2017 10:45:39 GMT
There's hope for us yet! Despite the recent negative comments on this forum this seems to have been a model loan.
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7d7
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Post by 7d7 on Nov 24, 2017 10:53:10 GMT
It looks like it. Repayments seem to be done on Fridays after withdrawals are processed to encourage further reinvestment over the weekend. Perhaps there's a direct relationship between both; the more they repay, the more lenders are confident to invest. They've just got to keep it rolling.
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Post by p2plender on Nov 24, 2017 11:13:24 GMT
My Mrs got an email about repayment but she doesn't hold..
Is it just a 'good news' generic email to boost us all?
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mickj
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Post by mickj on Nov 24, 2017 11:17:42 GMT
Nice, FULL repayment and a bit of bonus interest.
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r1200gs
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Post by r1200gs on Nov 24, 2017 11:36:06 GMT
My Mrs got an email about repayment but she doesn't hold.. Is it just a 'good news' generic email to boost us all? Perhaps it is, but I like it anyway and I'm not a holder of this one. Well done Lendy.
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Post by p2plender on Nov 24, 2017 11:44:27 GMT
Agree. I would love to have the confidence to be able to Lend with Lendy again.
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Post by skint4achange on Nov 24, 2017 12:04:56 GMT
Congrats to Lendy for achieving the end result on a DFL
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