treeman
Member of DD Central
Posts: 1,018 
Likes: 542
|
Post by treeman on Feb 13, 2018 14:00:47 GMT
Shiver me (reclaimed) timbers! Hmmmm ...  
|
|
adrianc
Member of DD Central
Posts: 7,729
Likes: 4,351
|
Post by adrianc on Feb 22, 2018 12:09:09 GMT
They're doing cider tastings now.
Whether this is related to the forthcoming cafe opening or simply because they feel like a cider, I know not...
|
|
adrianc
Member of DD Central
Posts: 7,729
Likes: 4,351
|
Post by adrianc on Mar 3, 2018 9:13:16 GMT
I place this latest FB offering here as much for levity as anything, but I do hope it doesn't reflect upon their general prioritisation and planning...  |
|
adrianc
Member of DD Central
Posts: 7,729
Likes: 4,351
|
Post by adrianc on Mar 17, 2018 19:23:40 GMT
Cafe will be opening before Easter, it seems.
|
|
adrianc
Member of DD Central
Posts: 7,729
Likes: 4,351
|
Post by adrianc on Mar 27, 2018 17:40:48 GMT
This Friday is cafe opening day. Daytime hours only, with summer evenings possible later. The menu looks decent, both in terms of choice and price. The headlines don't look hugely imaginative (burgers, pizzas, light bites and salads, "classics"), but the individual line items are interesting - I'm quite tempted to try the "piggy back burger" - beef burger with pulled pork, shoelace onion rings, bacon jam and melted cheese - £9 isn't excessive, although it doesn't mention if fries are included - £3 for skin-on fries on top does change the value a bit. That London, 'im isn't round by 'ere...
Stone-baked pizzas for £8-12, with the Kas-Baa sounding... intriguing but possibly a fusion too far (slow-braised lamb shoulder, feta, mint, pomegranate, Greek yoghurt), sound decent value depending on unidentified size.
Or the "classics" are things like good ol' beer-battered haddock and chips for £9, ham/egg/chips for £8.
Anybody fancy a Lender's Lunch there some point? I shall report back when we try it before too long...
|
|
elliotn
Member of DD Central
Posts: 3,056
Likes: 2,679
|
Post by elliotn on Apr 27, 2018 15:12:17 GMT
"The ninth, and final, tranche of development funding was added to the platform and went live this week. The borrower has now injected almost £100,000 of their own funds over the past few months as confirmed by the Independent Monitoring Surveyor. We have seen evidence of the proposed refinance from the borrower, who has advised that the refinance formalities should be completed before loan expiry in just over two weeks’ time."
|
|
|
|
Post by Deleted on Aug 29, 2018 12:30:23 GMT
Among a myriad of inept, immoral and no doubt criminal borrowers this would appear on the face of it to be one borrower I can have a degree of sympathy with despite having money tied up. The finish and style are contemporary and right up my street, if I was closer at hand I would without join adrianc in sampling their menu, and as elliotn points out the injection of circa £100k of borrower cash is believed to have been invested. Even Lendy state " Unfortunately, and through no fault of the borrower’s, the proposed new lender to refinance Lendy’s loan has withdrawn their finance offer". Unfortunately now the receivers are involved the borrower may be losing an asset they have clearly poured some passion into (unless the now familiar behind the scenes dealing and re-purchases are made) I guess despite any sympathy for the borrower we can only hope on our side our investment looks better than many other loans have turned out! |
|
adrianc
Member of DD Central
Posts: 7,729
Likes: 4,351
|
Post by adrianc on Aug 31, 2018 8:54:24 GMT
It'll be a real pity if they do go south, but we're starting to head rapidly out of peak (lucrative) tourist/summer season now... We've not managed to get there for food yet - but their FB page has ~40 reviews with an average score of 4.7 out of 5, and their trip advisor reviews look good, too.
|
|
rocky1
Member of DD Central
Posts: 1,040
Likes: 1,781
|
Post by rocky1 on Aug 31, 2018 10:31:53 GMT
Yes lendy very quick to finish this borrower off.for what is a short period overdue compared to the majority of borrowers that they have done nothing about for months/years.work with the borrower and sort something out.better security than all your DFLs ,debentures,and PGs across the loan book.we are used to waiting by now go after the big fry who owe us millions
|
|
TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Sept 14, 2018 4:04:19 GMT
Cafe will be opening before Easter, it seems. Hi adrianc; thanks for your updates, but it's not clear to me - is the whole development complete, trading and fully landscaped, or just parts? If the former it seems the borrower has done fheir bit and deserves some sympathy, and hopefully the development value - which must be based on trading potential - was accurate enough to facilitate refi.
|
|
|
|
Post by p2plender on Sept 14, 2018 6:53:00 GMT
Quite incredible just how many of these refinancing situations fall at the final hurdle when (acc to what Lendy tell us) they seem home n hosed. Wobbly times ahead with lots of nervousness around. Sure doesn't bode well for the enormous amount of further DFLs.
|
|
|
|
Post by broker2020 on Sept 14, 2018 12:31:26 GMT
I think the fact these offers fall through is probably the sites are overvalued and when the new banks sends in their own independent valuers it comes in at a much lower level, and to low to take us out
|
|
nsinvestor
Member of DD Central
Posts: 105
Likes: 110
|
Post by nsinvestor on Sept 14, 2018 15:55:54 GMT
Its probably not even the Banks refinancing. So many of these loans are refinanced through other non-Bank lenders / finance houses / P2P platforms etc.
Think about how many Lendy loans start out with an amount to repay the previous lender...
|
|
adrianc
Member of DD Central
Posts: 7,729
Likes: 4,351
|
Post by adrianc on Sept 16, 2018 10:05:41 GMT
Cafe will be opening before Easter, it seems. Hi adrianc ; thanks for your updates, but it's not clear to me - is the whole development complete, trading and fully landscaped, or just parts? If the former it seems the borrower has done fheir bit and deserves some sympathy, and hopefully the development value - which must be based on trading potential - was accurate enough to facilitate refi. I think they're just trading the C****e S**d cafe, with the accommodation on the way still. Their main website (p*****s-c***t.co.uk) still says "opening late summer"...
Must get round to eating there - we've got some mates in the village who need repaying for a big favour, so lunch this week, mebbe.
They also have an online interiors business - h***e j****e
|
|
TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Sept 17, 2018 4:29:33 GMT
Given the upbeat reporting of it I was considering buying into this for the bonus interest. However, after a look thru the history I am having second thoughts: Feb '17 - Start of project, with 5/6 month schedule Aug '17 - Estimated 3 months remaining; ie. first 3 months work took 6 months! New valuation increased projected GDV by almost 20%, presumably to allow headroom to fund further tranches, as no reason for the increase seems to have been given! Would mean project complete by Xmas. Mar '18 - Work continuing, significant amount remaining, so not much happened since last Autumn! Aug '18 - 18 months after start of 6 month project it's still not trading (except café), and 3rd attempted refi underway. Meanwhile interest accruing at probably £30k/month, missed summer season and no significant income likely for at least another 6 months, so debt will have reach 100% of original GDV if nothing is done! Questions: Is this realistically a viable business? A Shop, Spa and Cafe for 8 lets in the middle of nowhere? Conclusion: adrianc : be quick to sample the café before the shutters go up, and adrian77 lend me Mr Smutty! PS I hope for everyone's sake the current refi completes, but it's hard to be realistically optimistic given all previous history and false hope from L.
|
|
