star dust
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Post by star dust on Feb 26, 2018 11:48:46 GMT
Perhaps you spoke too soon. Currently there's £19k available in the original 12% BL, so looks like someone's taken fright. Somebody/s seems to be putting up £20-25k chunks of this as they sell off this morning. Also there are/have been amounts on the SM in nearly all other tranches including the 14%s.
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Post by trentenders on Feb 26, 2018 12:13:25 GMT
Hopefully they want to rebuy into the lower ranking parts for the cashback.
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Post by mrclondon on Feb 26, 2018 12:48:17 GMT
I've a radical suggestion.
COL commission and publish unabridged a detailed report from an experienced totally independent quantity surveyor showing where the project is upto and estimated costs and timescales to completion.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Feb 26, 2018 13:49:44 GMT
My view is that COL need to release new junior tranches at 16%, because too many lenders are overexposed at 15%. This will make the existing 15% tranches more appealing to less risky investors. The senior tranches have been hard to get on the SM, so we know there is demand for less risky investments.
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stevio
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Post by stevio on Feb 26, 2018 14:45:29 GMT
I've a radical suggestion. COL commission and publish unabridged a detailed report from an experienced totally independent quantity surveyor showing where the project is upto and estimated costs and timescales to completion. This would likely have a cost - possibly the same as a valuation report What might be an idea is a defined milestones and stage release of funds from the start of the project - if the milestone is not met, no funds till the project is brought up to speed (at the borrowers cost). So when we get towards the end of the project, we know it has reached a certain milestone and where we are in the development Drive bys and guesstimates taken out of the equation @leopardcat
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Post by mrclondon on Feb 26, 2018 15:00:14 GMT
I've a radical suggestion. COL commission and publish unabridged a detailed report from an experienced totally independent quantity surveyor showing where the project is upto and estimated costs and timescales to completion. This would likely have a cost - possibly the same as a valuation report Yes, undoubtably so. However AC, L, and MT all find the money for such reports (although fall short to varying extents of publishing them in full). But there again they don't pay lenders 15% plus 2% CB. And any such cost is likely to be trivial compared to the future legal ramifications involved if a loan goes bad and there has been inadequate QS oversight concerning the release of tranches (think FS Whitehaven).
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snowmobile
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Post by snowmobile on Mar 1, 2018 15:43:12 GMT
Perhaps you spoke too soon. Currently there's £19k available in the original 12% BL, so looks like someone's taken fright. Somebody/s seems to be putting up £20-25k chunks of this as they sell off this morning. Also there are/have been amounts on the SM in nearly all other tranches including the 14%s. Given recent events I find this interesting. It was clearly thought of as sufficiently unusual to warrant discussion on Monday. These higher ranking loans generally had little availability and were soon snapped up when on the SM. A lot of money would have been deposited to the platform on Monday to buy up these loans. Why would there be such a large sell off on the same day that the website was taken down? I would be interested to know if the sellers had any connection with staff or management which could have resulted in inside knowledge of what was happening
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r00lish67
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Post by r00lish67 on Mar 1, 2018 15:51:15 GMT
Somebody/s seems to be putting up £20-25k chunks of this as they sell off this morning. Also there are/have been amounts on the SM in nearly all other tranches including the 14%s. Given recent events I find this interesting. It was clearly thought of as sufficiently unusual to warrant discussion on Monday. These higher ranking loans generally had little availability and were soon snapped up when on the SM. A lot of money would have been deposited to the platform on Monday to buy up these loans. Why would there be such a large sell off on the same day that the website was taken down? I would be interested to know if the sellers had any connection with staff or management which could have resulted in inside knowledge of what was happening Well, it's not impossible, but a) if true, would be pretty blatant once investigated and b) why time it so close to the shutdown? Given what I perceived as an uneasy silence from Collateral as a whole over the last month, and more specifically the very clear funding gap on Bolton, I had personally been selling off (half) my stake - not the £25k chunks though - over the last few days as I just didn't want my stake locked up if the development stalled. It's possible someone else was going through the same thought process.
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p2pmark
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Post by p2pmark on Mar 2, 2018 9:36:07 GMT
Any idea what will happen with this loan now?
There been talk of refinancing, but it'll be pretty difficult due any P2P site raising this much from their lenders in the current environment. More detailed news of its progress would help, however.
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moist
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Post by moist on Mar 19, 2018 15:26:00 GMT
Anyone go near Bolton.....be nice to know if this one is still being worked on. Needs to be finished for new student intake...... I understand it is sold out from speaking to the various companies punting out the rooms as an investment......
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Post by in2tense on Mar 21, 2018 13:22:09 GMT
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mickj
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Post by mickj on Mar 21, 2018 13:38:50 GMT
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moist
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Post by moist on Mar 21, 2018 14:13:32 GMT
Excellent, many thanks for the visit! Maybe this would be wise for all the property related loans??
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hazellend
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Post by hazellend on Mar 21, 2018 17:04:09 GMT
Thank you very much!
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Post by trentenders on Mar 21, 2018 18:07:40 GMT
Thanks for posting also. I can't find any hidden sheep(?)
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