fp
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Post by fp on Aug 12, 2017 11:25:01 GMT
1 excavator, 1 dumper and 1 workman without his hard hat on. This could take a while.I always found I could work faster without one on to be honest. IMO, it makes a refreshing change to see a development kick off just after drawdown, I can name 100 development loans which are months/years into the loan cycle and still just an overgrown site, The helmet-less worker seems to be trying to establish whats done and what isn't, common sense approach to a part built site.
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guff
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Post by guff on Aug 12, 2017 11:42:29 GMT
1 excavator, 1 dumper and 1 workman without his hard hat on. This could take a while. Comparing the site to what it looked like a month ago, I'd employ him.
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SteveT
Member of DD Central
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Post by SteveT on Aug 12, 2017 13:13:11 GMT
Until development finance is raised, I thought the plan was nothing more than clearing the site? At least that is clearly underway already.
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kaya
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Post by kaya on Aug 12, 2017 13:45:19 GMT
I would certainly consider buying some, if it were possible to be offered at a nice discount. I want some of your cashback.
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guff
Posts: 730
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Post by guff on Aug 12, 2017 16:17:42 GMT
I would certainly consider buying some, if it were possible to be offered at a nice discount. I want some of your cashback. ½% do you?
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kaya
Member of DD Central
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Post by kaya on Aug 12, 2017 16:37:00 GMT
Not enough. More! 1% might do it.
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Steerpike
Member of DD Central
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Post by Steerpike on Aug 12, 2017 16:49:12 GMT
Didn't big hitters get 4%?
Half of that seems reasonable given that the buyer then assumes the risk, anything less than 2% discount is robbery ;-)
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madpierre
Member of DD Central
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Post by madpierre on Aug 12, 2017 17:50:41 GMT
1 excavator, 1 dumper and 1 workman without his hard hat on. This could take a while. Looks to me like he's just retrieving his thermos flask in case it was damaged on-site. So he clearly knows all the safety procedures 
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Post by shyinvestor on Aug 25, 2017 8:42:46 GMT
On the Available Loans page, BL00046 is shown as "Fully Funded - Secondary Market Active". However, drilling down to the Loan Details page it says 86.819% funded, Available amount £138,400.46. What is the correct state of things? Am I missing something obvious?
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ali
Member of DD Central
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Post by ali on Aug 25, 2017 9:18:48 GMT
On the Available Loans page, BL00046 is shown as "Fully Funded - Secondary Market Active". However, drilling down to the Loan Details page it says 86.819% funded, Available amount £138,400.46. What is the correct state of things? Am I missing something obvious? The wording on the details page is a bit clumsy when the secondary market is active. It would be better if it said: £138,400.46 available on the secondary market (13.181%)
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seeingred
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Post by seeingred on Aug 25, 2017 9:58:22 GMT
The SM is almost dead. It might be a bit more active if we could see some updated photos - 2 weeks now since those provided by a forum member - how about a formal update from COL? Two weeks is sufficient time to clear an overgrown site, has there been any real progress towards getting this show on the road? COL needs to show they are keeping a watchful eye on their building loans. It is a new field for them. If there has been progress, why not show us. Collateral Rep?? |
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elliotn
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Post by elliotn on Aug 25, 2017 11:32:59 GMT
Tbf I don't know another platform that provides weekly updates, monthly or significant events should be sufficient, this loan is fully funded and the secondary market should be just that, a secondary priority.
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oik
Member of DD Central
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Post by oik on Aug 25, 2017 14:12:40 GMT
The SM is almost dead. It might be a bit more active if we could see some updated photos I doubt there's much to see. Would agree though that the original pics don't do it any favours. Four blurry images of flattened fences, piles of rubbish, and wonky houses apparently sliding down the hill, isn't the finest example of the art of marketing.  Until something of a dent is made in the great lump of Darwen on the SM, then there's unlikely to be much enthusiasm for Burnley or any other loans by the same borrower.
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Post by Deleted on Aug 25, 2017 14:21:58 GMT
To be fair it does look like a major improvement to Darwin, almost an evolutionary step  |
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seeingred
Member of DD Central
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Post by seeingred on Aug 25, 2017 14:37:21 GMT
I asked the question because of the unique history of this loan, and the stated intention (via email) to update photographs. On 20 July Collateral Rep said : (my bold) "These changes won’t cause any delays in starting the development of the site, as it only affects one of the titles and work can commence immediately on the others whilst the planning change is requested.
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After some delays to funding, the loan was restructured with a lower LTV on 26 July, a month ago tomorrow. The rest is history, and including a slice of cashback. But we still have the original photos. The SM might well be a secondary consideration to the platform once a loan has been fully funded but this loan and Burnley (when the latter eventually gets funded) seem likely to comprise the bulk of the COL SM over some periods. COL needs capital inflow to complete its building projects. In the days/weeks during which there are no new loans being offered those on the SM assume a primary focus for investors looking to redeploy funds after a large repayment from (say) J** on lendy. Thus, loans that seem likely to dominate on the SM should be made to look as appealing as possible, if only as a matter of self interest in attracting new buildings-focused cash to the platform. |
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