applets
Member of DD Central
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Post by applets on Oct 29, 2017 21:57:12 GMT
IMHO, there is absolutely no need to panic, but it is worth noting that the architects behind the Bolton development are the Liverpool firm that is being discussed extensively on the MT Liverpool thead. As best as can be deduced at present, the architect company is being restructured (involving voluntary liquidation) possibly to create a clean break from perceived reputational issues with other projects in the Liverpool area that they have been associated with. It seems likely the architectural services will be delivered via a NewCo or another (existing) group company in the future. It is probable that the architects involvement in Bolton is purely for architectural services (i.e. not equity involvement). Should we assume this is from a discussion at DD Central?
In any event, I am uncertain that incomplete information such as this is particularly helpful to lenders or the platform.
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bababill
Member of DD Central
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Post by bababill on Oct 29, 2017 22:01:33 GMT
The administrator says this loan is dubious...i going to sell.
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Post by mrclondon on Oct 29, 2017 22:32:02 GMT
Should we assume this is from a discussion at DD Central?
In any event, I am uncertain that incomplete information such as this is particularly helpful to lenders or the platform.
The administrator says this loan is dubious...i going to sell. DD Central hasn't been launched yet, an announcement will be made when it is. Lenders need to make their own decisions as to how any particular piece of information might affect the risk profile of a given loan. I personally do not think this is a dubious loan, and I have never posted anything which implies that is my view. I continue to hold a stake in this loan which I followed across from MT, and have no intention of listing it for sale in the short term. I said quite clearly that "in my humble opinion" (IMHO) there is no need to to panic, and I explained why I currently believe that to be the case (probable continuance of architectural services via NewCo or group company). However, by reporting the connection to an issue with the architects on this project, it gives the opportunity for others who have more experience than me of the architect interface with mid/late stage development projects to post arguments that might inform me that the risk profile is higher than I currently perceive.
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r00lish67
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Post by r00lish67 on Oct 29, 2017 23:41:32 GMT
This is totally bananas. £62.8k available.
DL005 - DL0017 rank behind DL001-DL004, and DL001-DL004 rank behind BL00026. And yet people are using this information to largely sell BL00026 only, but retain the development tranches which would all need to be totally wiped out before BL00026 is affected? <hits head against wall>
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star dust
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Post by star dust on Oct 30, 2017 0:00:43 GMT
This is totally bananas. £62.8k available. DL005 - DL0017 rank behind DL001-DL004, and DL001-DL004 rank behind BL00026. And yet people are using this information to largely sell BL00026 only, but retain the development tranches which would all need to be totally wiped out before BL00026 is affected? <hits head against wall> Someone's (possibly two someone's with the same identifier) just bought £18k of BL00026, I think what's up for sale may not last long unless more panic in the morning. But the sales of the tranches have started too, although only minor amounts so far. In Edit: Looks like circa £20k's been pulled from sale, although more tranche bits up for grabs. Only £19k of BL00026 remaining for sale at time of edit. Panic of the evening nearly over? star dust a P2PIF Forum administrator making a comment not any other kind of administrator. Disclosure I'm not currently selling any of my holdings in this loan or it's tranches.
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SteveT
Member of DD Central
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Post by SteveT on Oct 30, 2017 7:41:58 GMT
This is totally bananas. £62.8k available. DL005 - DL0017 rank behind DL001-DL004, and DL001-DL004 rank behind BL00026. And yet people are using this information to largely sell BL00026 only, but retain the development tranches which would all need to be totally wiped out before BL00026 is affected? <hits head against wall> Similar crazy behaviour with the Darwen loans. BL00046 enjoys 1st charge security (£1.05m at 60% LTV) whilst the 4 development tranches DL00008/9/10/16 all rank behind it. Yet, whilst BL00046 has regular availability, there's rarely any listed from the DL tranches. Clearly the lure of 14% over 12% blinds holders to the greatly elevated risk!
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hazellend
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Post by hazellend on Oct 30, 2017 8:11:38 GMT
This is totally bananas. £62.8k available. DL005 - DL0017 rank behind DL001-DL004, and DL001-DL004 rank behind BL00026. And yet people are using this information to largely sell BL00026 only, but retain the development tranches which would all need to be totally wiped out before BL00026 is affected? <hits head against wall> Similar crazy behaviour with the Darwen loans. BL00046 enjoys 1st charge security (£1.05m at 60% LTV) whilst the 4 development tranches DL00008/9/10/16 all rank behind it. Yet, whilst BL00046 has regular availability, there's rarely any listed from the DL tranches. Clearly the lure of 14% over 12% blinds holders to the greatly elevated risk! Many P2P investors don’t understand the risk.
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ben
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Post by ben on Oct 30, 2017 8:22:19 GMT
Except for the bling this is my favorite loan on collateral, just wondering where I will be following it too next.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Oct 30, 2017 8:22:25 GMT
Spot on hazellend, which is why this is happening, some are completely unaware of how it all "works" and think ABP2P is simply a Quasi Savings Account with extraordinarily high interest levels. And I blame The FCA for not publicising the high risks a lot more. But then, we don't want to wake them do we?
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bababill
Member of DD Central
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Post by bababill on Oct 30, 2017 21:48:01 GMT
Ok. I won't sell..hard to keep up.
Whats ABP2P?
Why mention of P2P as a catch all phrase? Still confused as I thought with Saving Stream Exeter loan we are lending to the firm i.e. Saving Stream.... Not to peers....
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elliotn
Member of DD Central
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Post by elliotn on Oct 31, 2017 1:26:42 GMT
Except for the bling this is my favorite loan on collateral, just wondering where I will be following it too next. Unbolted.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Nov 1, 2017 11:28:56 GMT
Except for the bling this is my favorite loan on collateral, just wondering where I will be following it too next. Unbolted. Ssshhhhh elliottm! Not too loud.
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Post by elephantrosie on Nov 1, 2017 19:37:36 GMT
so we still do not have an end date to these loans?
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guff
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Post by guff on Nov 1, 2017 21:33:41 GMT
so we still do not have an end date to these loans? The fixed price contract is for nearly £6M and there has been less than £2M of development loans since June, so there is still a long way to go.
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Post by elephantrosie on Nov 1, 2017 23:31:13 GMT
6M total loan? Or value?
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