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Post by mrclondon on Jan 20, 2018 18:06:35 GMT
Still a way to go to completion. I assume that the second development is still stalled waiting for this to finish, so unlikely that it will complete on time (if it ever gets started). A plausible explanation for the slow progress on the 1st Plymouth and Bollington developments is that the borrower has run out of funds with which to continue / complete them. As such, you are quite right to raise the concern that the 2nd Plymouth development may struggle to get going. I wouldn't necessarily believe whats written in a local rag.
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jlend
Member of DD Central
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Post by jlend on Jan 26, 2018 16:35:06 GMT
Hi MoneyThing any sign of the QS report yet and the number of legal exchanges that have gone through? Thanks
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Post by spareafewcoppersguv on Jan 30, 2018 10:17:42 GMT
Hi MoneyThing any sign of the QS report yet and the number of legal exchanges that have gone through? Thanks Bump to flag back to MoneyThing SophieThingOverdue an update.... thanks
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Monetus
Member of DD Central
Posts: 1,179
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Post by Monetus on Jan 30, 2018 15:48:31 GMT
We'd really like an update on this loan please MoneyThing
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seeingred
Member of DD Central
Posts: 470
Likes: 664
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Post by seeingred on Feb 8, 2018 18:16:46 GMT
It is REALLY about time we had some news on this loan and the connected loans. As far as I am aware all 3 connected sites are effectively stalled - the houses at *o******ton have six almost ready to sell and even these seem to have stalled. Surely those sales could release some capital, if only the building work could be completed? Action this day?? 09/01/2018 The QS is due to visit the site this week and we will provide an update to lenders once we have received their report. MoneyThing SophieThing LucyThing
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agent69
Member of DD Central
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Post by agent69 on Feb 8, 2018 19:37:50 GMT
It is REALLY about time we had some news on this loan and the connected loans. Thing that amazes me is why anyone would invest in loan 2 when loan 1 is such a t*rd sandwich.
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theshape
Member of DD Central
Posts: 153
Likes: 109
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Post by theshape on Feb 8, 2018 21:10:20 GMT
It is REALLY about time we had some news on this loan and the connected loans. Thing that amazes me is why anyone would invest in loan 2 when loan 1 is such a t*rd sandwich. I sold both the related loans thinking that I could always buy back in when/if there was a positive update on any of the loans. Still waiting!
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johnfleet
Member of DD Central
Posts: 170
Likes: 85
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Post by johnfleet on Feb 9, 2018 11:55:21 GMT
This is getting beyond a joke MoneyThing SophieThing LucyThing - I now have nearly a third of my MT portfolio tied up in defaulted loans. I have funds looking for a home but my confidence in this platform has taken a severe knock since last summer and your failure to post promised updates on time is deeply concerning. Please stop insulting your investors and have the good manners to let us know what on earth is happening with this loan.
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hazellend
Member of DD Central
Posts: 2,363
Likes: 2,180
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Post by hazellend on Feb 9, 2018 12:10:03 GMT
This is getting beyond a joke MoneyThing SophieThing LucyThing - I now have nearly a third of my MT portfolio tied up in defaulted loans. I have funds looking for a home but my confidence in this platform has taken a severe knock since last summer and your failure to post promised updates on time is deeply concerning. Please stop insulting your investors and have the good manners to let us know what on earth is happening with this loan. Have to assume that they cannot give an update due to risk of damaging chances of a full return. Stay calm. Ed is a reliable guy, I am sure he will be doing what needs to be done.
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Post by westcountry on Feb 9, 2018 12:27:30 GMT
This is getting beyond a joke MoneyThing SophieThing LucyThing - I now have nearly a third of my MT portfolio tied up in defaulted loans. I have funds looking for a home but my confidence in this platform has taken a severe knock since last summer and your failure to post promised updates on time is deeply concerning. Please stop insulting your investors and have the good manners to let us know what on earth is happening with this loan. Have to assume that they cannot give an update due to risk of damaging chances of a full return. Stay calm. Ed is a reliable guy, I am sure he will be doing what needs to be done. Fair enough, but at least MoneyThing could post an update along the lines of "we're working on it but can't comment on what's currently happening for legal reasons", so we know they are doing something!
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hazellend
Member of DD Central
Posts: 2,363
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Post by hazellend on Feb 9, 2018 12:39:25 GMT
I just assume they are doing something
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Post by stevem on Feb 9, 2018 12:43:20 GMT
It's all getting too much like the Lendy approach for me - any form of update would be nice!
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Post by SophieThing on Feb 15, 2018 10:47:29 GMT
Morning,
We have posted an update on the platform about this loan. As stated in another thread, we're changing our lender comms again and we are re-engaging with this forum.
Defaulted/ problematic loans are a little more tricky as we have to consider what may compromise the process and what might get us into legal hot water for making public. We definitely haven't got the balance right and it's under review.
However, that does not mean we are not on top of the situation. We have good processes and we are working on all loans to ensure safe return of lenders' funds.
Kind regards
Sophie
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jsmill
Member of DD Central
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Post by jsmill on Feb 15, 2018 11:09:48 GMT
Not an unexpected update and there is a balance to be struck between Moneything keeping investors informed and not prejudicing their commercial options/ keeping onside from a legal perspective.
That said, in my view this is going to be a crucial few months for Moneything as a platform. There are now a number of significant loans in default and the pipeline of new loans has also been poor in the last year.
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m2btj
Member of DD Central
Posts: 630
Likes: 768
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Post by m2btj on Feb 15, 2018 14:43:59 GMT
Not an unexpected update and there is a balance to be struck between Moneything keeping investors informed and not prejudicing their commercial options/ keeping onside from a legal perspective. That said, in my view this is going to be a crucial few months for Moneything as a platform. There are now a number of significant loans in default and the pipeline of new loans has also been poor in the last year. I've decided to cash out as loans are paid off. Not long ago I was reinvesting interest & capital payments but I too share concerns over some MT loans. The SM has a lot of green these days & I am obviously not the only one watching developments with interest...no pun intended!
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