m2btj
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Post by m2btj on Oct 1, 2017 14:59:05 GMT
It's not unusual for an application to go back to the drawing board at this stage & I'm not overly concerned. The GDV at £43.5 million represents an huge financial opportunity for the developers & I can't see a project of this size being derailed. I was involved in a planning objection last year which raised some valid concerns, the developer took them on-board, revised the application & the council passed it 5 months later.
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SteveT
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Post by SteveT on Oct 1, 2017 15:05:02 GMT
Agreed. AIUI, the site already has outline planning consent and was valued on that basis. It's fair enough that the new developers decide to try for something more at the detailed planning stage (aka. "Reserved Matters") but, if it gets knocked back, they can always fall back to the original scheme, or at least much closer to it. Large scale planning applications are a negotiation process these days between the developer and the planning authority. As with all negotiations, you start with your "dream scenario" and work back from there.
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hazellend
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Post by hazellend on Oct 1, 2017 16:14:08 GMT
Naughty mrclondon panicking the sheep lol!
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m2btj
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Post by m2btj on Oct 2, 2017 17:00:13 GMT
The £3 at 01/10/2017 13:04:51 was the last bit of my holding, so only 2 buyers in the hour since I made the post. And for good or bad, I suspect my post is responsible for virtually all that availability (now just over 10%). Perhaps of much greater concern is the fact I seem to have created a more widespread panic with significant volumes of other loans (especially those from FP ) listed in the last hour, including some that I would consider to have pretty rock solid security. Which matches up with some of the recent panic selling on Lendy of perfectly good loans. I know MT don't operate to the rigid 'first-of-the-month' interest payment schedule adopted by other platforms, but might the activity on the loan(s) be part of the monthly 'fiddling' undertaken by lenders balancing the books, jiggling their bits, and re-positioning their wotsits, etc? (Especially with 01/xx being on a Sunday this time around.) A casual post on the current status of the planning application appears to have caused a stampede to the sell button. I think Sir Alex Ferguson called this activity squeaky b*m time! Councils send most planning applications of this size back to the drawing board & I have no doubt that the outline planning permission will become full within the usual negotiating framework. I am retaining my share in this loan as I believe the proposal & security are commercially sound.
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ali
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Post by ali on Oct 2, 2017 17:14:32 GMT
A casual post on the current status of the planning application appears to have caused a stampede to the sell button. I think Sir Alex Ferguson called this activity squeaky b*m time! Councils send most planning applications of this size back to the drawing board & I have no doubt that the outline planning permission will become full within the usual negotiating framework. I am retaining my share in this loan as I believe the proposal & security are commercially sound. No. A post by somebody perceived to be a highly reliable source (an admin of the forum) stating that they do not believe that the rewards merit the risks and including a well reasoned argument as to why they had come to that conclusion caused people to lose confidence in the loan and (attempt to) sell it. The status of the planning application might have influenced mrclondon's decision, but I bet it paid no part in most other people's thinking. That's no fault of mrclondon, but it just shows how careful you need to be when you are perceived, rightly or wrongly, to be an authority.
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archie
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Post by archie on Oct 2, 2017 17:19:39 GMT
I was actually more concerned with whatever is going on at ThinCats than the planning application. I'm not a lender there.
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applets
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Post by applets on Oct 2, 2017 19:44:13 GMT
It's all about confidence.
MT has not had a good summer - defaults, undisclosed information about loans that come to light in an administrator's report, lack of clarity on loan performance when MT is paying the interest, potentially dodgy new loans, attempts to act contrary to its own terms and conditions ......
It is unsurprising that when information about a loan's performance gleaned from another platform is shared that lenders of a nervous disposition head for the door.
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hazellend
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Post by hazellend on Oct 2, 2017 20:03:00 GMT
Once again we see that discounting is required on the SM.
What is the point in people not being able to sell if they want out?
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fogey
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Post by fogey on Oct 2, 2017 21:10:15 GMT
Once again we see that discounting is required on the SM. What is the point in people not being able to sell if they want out? It's very important that people thinking of selling out understand their own state of mind and the reason they may be considering this. When it is so obvious that a Panic of the Day is causing a rush for the exit and the cause of the panic is rather obvious too, then it is highly unlikely they are able to make a balanced judgement, unless they are very experienced long-standing investors. In such instances it is beneficial that less experienced investors are unable to sell as this protects them from rash decisions which they may soon come to regret. Today we see a steady stream of buyers slowly eating into this oversold position and eventually many panic stricken investors will withdraw their sale orders as their confidence slowly returns.
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hazellend
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Post by hazellend on Oct 2, 2017 22:21:32 GMT
Once again we see that discounting is required on the SM. What is the point in people not being able to sell if they want out? It's very important that people thinking of selling out understand their own state of mind and the reason they may be considering this. When it is so obvious that a Panic of the Day is causing a rush for the exit and the cause of the panic is rather obvious too, then it is highly unlikely they are able to make a balanced judgement, unless they are very experienced long-standing investors. In such instances it is beneficial that less experienced investors are unable to sell as this protects them from rash decisions which they may soon come to regret. Today we see a steady stream of buyers slowly eating into this oversold position and eventually many panic stricken investors will withdraw their sale orders as their confidence slowly returns.
Protecting people from selling out in a panic is not a good reason. look at the stock market.
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elliotn
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Post by elliotn on Oct 3, 2017 3:47:23 GMT
Once again we see that discounting is required on the SM. What is the point in people not being able to sell if they want out? It's very important that people thinking of selling out understand their own state of mind and the reason they may be considering this. When it is so obvious that a Panic of the Day is causing a rush for the exit and the cause of the panic is rather obvious too, then it is highly unlikely they are able to make a balanced judgement, unless they are very experienced long-standing investors. In such instances it is beneficial that less experienced investors are unable to sell as this protects them from rash decisions which they may soon come to regret. Today we see a steady stream of buyers slowly eating into this oversold position and eventually many panic stricken investors will withdraw their sale orders as their confidence slowly returns.
With your mantra of Panic of the Day you come across as a very experienced, long standing investor. However, I don’t think we should protect less experienced investors from rash decisions that they may soon come to regret. What are you protecting them from - earning interest while taking the chance to preserve capital whilst rebalancing their portfolio according to their individual risk appetites? The Panic of the Day in itself produces sufficient queuing time for the sheeple to digest their cogitation and make the balanced decision, perhaps in the light of soothing commentary from very experienced, long standing investors, that you wish them to make.
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johni
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Post by johni on Oct 4, 2017 10:08:12 GMT
Comments have been removed from the Planning Portal. 2 Large purcases have taken remaining amount down to £11500.
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dermot
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Post by dermot on Oct 4, 2017 10:28:01 GMT
I see over £80k votes of confidence invested this morning ...
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fogey
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Post by fogey on Oct 4, 2017 10:39:23 GMT
After a single 50k purchase just after 10.00 there is now a rush to buy what remains from the panic selling ... This must be setting some new records for the speed and level of selling during the panic and now the speed and level of the recovery
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SteveT
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Post by SteveT on Oct 4, 2017 10:45:56 GMT
My home office looks out across a field of sheep. They regularly get spooked and charge en-masse in one direction, only to charge right back again a short while later
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