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Post by dan1 on Jul 14, 2017 16:51:30 GMT
Companies House lists the first charge in favour of BoS but no 2nd charge. Do I have the wrong company?
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littleoldlady
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Post by littleoldlady on Jul 14, 2017 17:24:02 GMT
MoneyThing Many or most of your investors also lend through Ablrate and Lendy so many of us already know the history of this project, and some of us have already lent to it via Ablrate. So could you spell out exactly what is happening?
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fp
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Post by fp on Jul 14, 2017 17:44:02 GMT
Companies House lists the first charge in favour of BoS but no 2nd charge. Do I have the wrong company? As I understand it, BoS have first charge, ************************* Its likely you have the correct company
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copacetic
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Post by copacetic on Jul 14, 2017 18:33:38 GMT
Moneything say the purpose is for the aquisition of the site. Presumably this means MT's borrower is purchasing the land from Ablrate's borrower so Ablrate lenders will likely be seeing a repayment (unless fp is right and they haven't registered the charge!  ) |
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ali
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Post by ali on Jul 14, 2017 18:38:26 GMT
Moneything say the purpose is for the aquisition of the site. Presumably this means MT's borrower is purchasing the land from Ablrate's borrower so Ablrate lenders will likely be seeing a repayment (unless fp is right and they haven't registered the charge! ) Now work out who ABL's borrower is and MT's borrower and join me in considering mobius strips.
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dovap
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Post by dovap on Jul 14, 2017 19:25:49 GMT
Is this any better now than when it was punted on Lendy ?
Odd turn for MT to be picking up lendy chaff
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hazellend
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Post by hazellend on Jul 14, 2017 20:26:59 GMT
Is this any better now than when it was punted on Lendy ? Odd turn for MT to be picking up lendy chaff Who says its chaff? Lower loan amount, lower valuation, higher interest rate, clearer strategy. Looks like a much better proposition than before.
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stevio
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Post by stevio on Jul 14, 2017 20:51:05 GMT
MoneyThing - Is this the existing owner refinancing the 1st Charge or a new owner purchasing the site? n No mention of AB 2nd Charge, do you know what will be happening with this? particularly if the development phase needs financing by MT
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dovap
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Post by dovap on Jul 14, 2017 22:11:12 GMT
Is this any better now than when it was punted on Lendy ? Odd turn for MT to be picking up lendy chaff I think that was me - just above your reply hth.
Lower loan amount, lower valuation, higher interest rate, clearer strategy.I lose track of the loans - does this lower one take into account the Ablrate one? The lendy value and hence ltv was complete cobblers, as you'd expect, but then again there were no takers at the lower value in 5+ yrs Looks like a much better proposition than before.you go girl
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ben
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Post by ben on Jul 14, 2017 23:20:43 GMT
Its getting hard to track all these loans going from one site to another and getting a pain to fund loans on two sites at the same time, looks like have to break sons piggy bank again.
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Post by sannytwist on Jul 15, 2017 0:31:14 GMT
Due to my inexperience in p2p, l feel that l'm not able to give a good assessment of whether this loan is a good investment or not at 13%. For that reason l think l will not invest  which is really unfortunate because l've been waiting weeks for another 13% loan. Anyone else feel the same or is the general outlook on this loan positive? |
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am
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Post by am on Jul 15, 2017 1:13:18 GMT
I think that I've identified the vendor (BLC - the currently operating business website is owned by a director of BLC) and the purchasor (BLR - named in the MT VR). There's also BLE (one director in common the BLR, formed 2012, dissolved 2015, which I suspect was formed with the intention of purchasing the property, but never managed to conclude the deal) and BHL (same directors as BLR - presumed to be intended to be the operating company for the site, while BLR would be the development company). If you stick the property name into Companies House you'll find all these companies.
What I don't understand is the ABL loan. Why would BLC suddenly need a massive loan after 30 years in business? Why would BLR have taken out a loan when they haven't completed on the purchase 6 months later? Is it possible that APF borrowed money to lend to BLR, but BLR have found a cheaper lender?
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littleoldlady
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Post by littleoldlady on Jul 15, 2017 7:55:51 GMT
This is without doubt the dodgiest loan I can recall seeing offered on MT. I do hope the Things are not losing their grip. Anyone in the Boatyard loan on FS will have seen the difficulties in recovery proceedings in Scotland. I would not be overly surprised if MT pull the loan before launch, but if they don't I will not be participating.
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hazellend
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Post by hazellend on Jul 15, 2017 8:23:38 GMT
This is without doubt the dodgiest loan I can recall seeing offered on MT. I do hope the Things are not losing their grip. Anyone in the Boatyard loan on FS will have seen the difficulties in recovery proceedings in Scotland. I would not be overly surprised if MT pull the loan before launch, but if they don't I will not be participating. Can you please give some reasons as to why you think think this loan is dodgy? A poorly managed loan on FS does not mean all scottish loans should be avoided. I personally am planning on putting the maximum initial investment into this as I like the look of it, and have also had personal experience of holidays of a similar type in the area, where I believe there is huge demand for this sort of thing.
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archie
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Post by archie on Jul 15, 2017 8:39:24 GMT
Subject to explanation of where the ABL 2nd charge fits in, I like it.  |
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)
which is really unfortunate because l've been waiting weeks for another 13% loan. 
