ben
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Post by ben on Jan 28, 2017 16:45:51 GMT
Afternoon, £645,000 Wandsworth Bridging Loan (#74 on the pipeline), now on Pending to go Live on Monday at 4pm with a £1,600 initial bid limit. Kind regards, Ed Hi Ed
If the CPO does not happen what is the alternative exit plan ?
states on the email, to sell
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am
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Post by am on Jan 28, 2017 17:22:58 GMT
The loan looks pretty solid to me (depending on the financial health of the restaurant, but I'd guess the the borrower would want to hang on for the CPO, to crystallise his capital gains). However, if the worse comes to the worse, and the loan does default before the CPO eventuates, but while the CPO is still in the offing, selling the property at anything like its intrinsic value might be difficult. What is MoneyThing 's backup plan in the event of a default? PS: The restaurant business is fairly new; previously the premises have been a pub, under several different names. |
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treeman
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Post by treeman on Jan 28, 2017 17:32:42 GMT
MoneyThing -Ed, Is this loan related to, or to the same borrower as the Dublin Land ? both share the MT prefix ?
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littonowl
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Post by littonowl on Jan 28, 2017 17:36:23 GMT
MoneyThing -Ed, Is this loan related to, or to the same borrower as the Dublin Land ? both share the MT prefix ? From the details page: Related Loans: This is a new MoneyThing borrower and there are no related loans.
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Post by MoneyThing on Jan 28, 2017 17:41:27 GMT
MoneyThing -Ed, Is this loan related to, or to the same borrower as the Dublin Land ? both share the MT prefix ? Evening. Thanks for pointing that out... I planned on using just the 'MT' prefix to denote borrowers who have a single loan with us (such as this one), but I can now appreciate that it would be easily interpreted the other way and that it appears that they share a common borrower. Perhaps I shall make it clearer and continue on the MTAA, MTAB, MTAC, etc. prefixes. Will have a look at this now... Regards, Ed
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ali
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Post by ali on Jan 28, 2017 17:44:51 GMT
MoneyThing -Ed, Is this loan related to, or to the same borrower as the Dublin Land ? both share the MT prefix ? Evening. Thanks for pointing that out... I planned on using just the 'MT' prefix to denote borrowers who have a single loan with us (such as this one), but I can now appreciate that it would be easily interpreted the other way and that they share a common borrower. Perhaps I shall make it clearer and continue on the MTAA, MTAB, MTAC, etc. prefixes. Will have a look at this now... Regards, Ed I'd prefer that. You never know, they might want a second loan, extension, or whatever in due course. You've got a bit to go before MTZZ forces a rethink!
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SteveT
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Post by SteveT on Jan 28, 2017 17:50:08 GMT
MoneyThing Ed, whilst I imagine this loan may prove pretty popular, its size and the relatively modest bid limit (0.25%) means there could be quite a bit left at 4pm on Tuesday. Rather than letting a handful of lenders with the fastest fingers bag the lot, how about putting in place a second 24 hour bid limit for any remaining balance?
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Post by MoneyThing on Jan 28, 2017 18:24:46 GMT
MoneyThing -Ed, Is this loan related to, or to the same borrower as the Dublin Land ? both share the MT prefix ? Evening. Thanks for pointing that out... I planned on using just the 'MT' prefix to denote borrowers who have a single loan with us (such as this one), but I can now appreciate that it would be easily interpreted the other way and that it appears that they share a common borrower. Perhaps I shall make it clearer and continue on the MTAA, MTAB, MTAC, etc. prefixes. Will have a look at this now... Regards, Ed Ok done...
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Post by snowdrop800 on Jan 28, 2017 18:27:11 GMT
MoneyThing Ed, whilst I imagine this loan may prove pretty popular, its size and the relatively modest bid limit (0.25%) means there could be quite a bit left at 4pm on Tuesday. Rather than letting a handful of lenders with the fastest fingers bag the lot, how about putting in place a second 24 hour bid limit for any remaining balance? This would be very welcome - the Hotel loan disappeared instantaneously yesterday after the 24 hour limit expired.
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littonowl
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Post by littonowl on Jan 28, 2017 20:18:36 GMT
MoneyThing Ed, whilst I imagine this loan may prove pretty popular, its size and the relatively modest bid limit (0.25%) means there could be quite a bit left at 4pm on Tuesday. Rather than letting a handful of lenders with the fastest fingers bag the lot, how about putting in place a second 24 hour bid limit for any remaining balance? This would be very welcome - the Hotel loan disappeared instantaneously yesterday after the 24 hour limit expired. Yep, Pershore was similar today, took a whole 8 seconds to go !
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Liz
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Post by Liz on Jan 28, 2017 20:21:02 GMT
MoneyThing Ed, whilst I imagine this loan may prove pretty popular, its size and the relatively modest bid limit (0.25%) means there could be quite a bit left at 4pm on Tuesday. Rather than letting a handful of lenders with the fastest fingers bag the lot, how about putting in place a second 24 hour bid limit for any remaining balance? This would be very welcome - the Hotel loan disappeared instantaneously yesterday after the 24 hour limit expired. I was thinking exactly the same, great idea guys.
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Post by MoneyThing on Jan 28, 2017 20:26:12 GMT
MoneyThing Ed, whilst I imagine this loan may prove pretty popular, its size and the relatively modest bid limit (0.25%) means there could be quite a bit left at 4pm on Tuesday. Rather than letting a handful of lenders with the fastest fingers bag the lot, how about putting in place a second 24 hour bid limit for any remaining balance? Oh ok then.... The Shuang is on the case and he thinks he will be able to get this done by the morning! 
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Post by GSV3MIaC on Jan 28, 2017 20:29:34 GMT
It's been suggested several times before, but probably needs a site/database structure change, adding a second limit and limit time. Getting the limit right in the first place (pre funding!) has got to be easier. If we all told Ed how much (up to) we wanted, he could work it out such that very little was left at D+24hrs.
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paulg
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Post by paulg on Jan 28, 2017 21:26:18 GMT
MoneyThing Ed, whilst I imagine this loan may prove pretty popular, its size and the relatively modest bid limit (0.25%) means there could be quite a bit left at 4pm on Tuesday. Rather than letting a handful of lenders with the fastest fingers bag the lot, how about putting in place a second 24 hour bid limit for any remaining balance? Oh ok then.... The Shuang is on the case and he thinks he will be able to get this done by the morning! Good suggestion SteveT , I was thinking the same thing too. Presumably the maximum bid limit would be the same for the second 24 hour period as the first? And I don't see any reason why that wouldn't work for all new loans.
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freddy
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Post by freddy on Jan 29, 2017 5:07:16 GMT
I think it's an excellent suggestion.
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