|
Post by SophieThing on Feb 28, 2018 7:42:56 GMT
Morning,
Update added as promised.
Kind regards
Sophie
|
|
ptr120
Member of DD Central
Posts: 1,201
Likes: 1,350
|
Post by ptr120 on Feb 28, 2018 8:18:16 GMT
Hi SophieThing, I've just read the update. So it other words, the valuation report was incorrect when it stated that the property was freehold, and this point wasn't further checked before the loan was agreed?
|
|
|
Post by mike1963 on Feb 28, 2018 8:26:11 GMT
Morning, Update added as promised. Kind regards Sophie Hi SophieThing , Thanks for the update (and I apologise in advance if these are stupid questions). I don’t see where “leasehold”, or indeed the term of the lease is mentioned in the loan prospectus, Could you clarify if these key facts were available to investors? Also, once the 14 apartments are built, will the freeholder charge for the creation of new sub-leases? And, who gets the benefit of any ground rent etc on these? Thanks.
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Mar 20, 2018 15:51:39 GMT
Hi MoneyThing LucyThing - almost a month since your last update (relating to the sale of the property anyway) - have legals progressed, any view of a completion date?
|
|
tomtom
Member of DD Central
Posts: 262
Likes: 39
|
Post by tomtom on Mar 26, 2018 9:42:25 GMT
Bunp any news yet?
|
|
GeorgeT
Member of DD Central
Posts: 1,321
Likes: 1,575
|
Post by GeorgeT on Mar 26, 2018 13:52:46 GMT
Yes, it would be great to have some good news on this one but it would probably be asking too much on the day that we have had one delivery of good news already in relation to a different MT loan in default. I'm sure there is ample progress being made in private and,as soon as it is possible, that MT will spring the news on us and won't it be wonderful and confidence building if it is more good news on the recoveries front with another high % capital clawback.
|
|
rxdav
Member of DD Central
Posts: 354
Likes: 349
|
Post by rxdav on Mar 28, 2018 10:28:47 GMT
Yes, it would be great to have some good news on this one but it would probably be asking too much on the day that we have had one delivery of good news already in relation to a different MT loan in default. I'm sure there is ample progress being made in private and,as soon as it is possible, that MT will spring the news on us and won't it be wonderful and confidence building if it is more good news on the recoveries front with another high % capital clawback. Well georget - they say the world loves an optimist - I'll be quite happy with a few glasses of whatever you were drinking when you wrote the above!
We were told we would be getting a full (100%) capital recovery plus all interest on the Pre***ury default - which latterly became 'sorry, change of plan - only 90/95% capital and no interest'. We have been told to anticipate a 70% recovery on the Ly**** St. A**** loan (which is an abysmal recovery on this default - don't even try to tell me otherwise!). If MT were to latterly apply similar wonderful and confidence building good news to this loan recovery we are maybe looking at c.60/65% recovery (and zero interest of course). I think given MT's extant track record on recoveries predictions it would be wise to await the actual figures. I predict they will be somewhere between grim and dire - but would love to be proved wrong of course!!
|
|
ptr120
Member of DD Central
Posts: 1,201
Likes: 1,350
|
Post by ptr120 on Mar 28, 2018 10:47:16 GMT
Well the last update from MoneyThing was on 28/2 so I'm expecting an update today. There were a number of updates posted early this morning, but nothing on this one. SophieThing can we expect an update?
|
|
yorky
Posts: 28
Likes: 29
|
Post by yorky on Mar 28, 2018 15:46:08 GMT
Im confused or its my age but this loan is shown in my repaid loan list under mtat709, and in my loan list as defaulted
|
|
archie
Posts: 1,855
Likes: 1,856
|
Post by archie on Mar 28, 2018 17:06:59 GMT
Im confused or its my age but this loan is shown in my repaid loan list under mtat709, and in my loan list as defaulted If you look at your transactions for 24/08/17 you'll see MTAT709 was repaid with interest to date and then MTAT788 (the default) was purchased with the capital. The two loans have different interest rates.
|
|
ptr120
Member of DD Central
Posts: 1,201
Likes: 1,350
|
Post by ptr120 on Mar 29, 2018 8:03:36 GMT
Monthly update = new news yet, we are working on it.
I don't expect War & Peace but I do wonder if MT are taking lessons from LY lately?
|
|
|
Post by Deleted on Mar 29, 2018 8:31:25 GMT
Monthly update = new news yet, we are working on it. I don't expect War & Peace but I do wonder if MT are taking lessons from LY lately? Sale in progress and going through legals, what else would you expect/need to hear at this stage? The offer? The buyers name! Let them get on with things. Update much appreciated Moneything, silence makes everyone edgy!
|
|
ptr120
Member of DD Central
Posts: 1,201
Likes: 1,350
|
Post by ptr120 on Mar 29, 2018 8:47:01 GMT
Monthly update = new news yet, we are working on it. I don't expect War & Peace but I do wonder if MT are taking lessons from LY lately? Sale in progress and going through legals, what else would you expect/need to hear at this stage? The offer? The buyers name! Let them get on with things. Update much appreciated Moneything, silence makes everyone edgy! An indication of likely timeline - perhaps an explanation of why things are taking so long? So close to the start of the new tax year this would be particularly appropriate.
|
|
SteveT
Member of DD Central
Posts: 6,874
Likes: 7,919
|
Post by SteveT on Mar 29, 2018 9:09:40 GMT
An indication of likely timeline - perhaps an explanation of why things are taking so long? So close to the start of the new tax year this would be particularly appropriate. Yet, when they've previously given an estimated date, you've been on their back the moment it passes. I suspect you've successfully trained them not to estimate dates that are entirely out of their hands.
|
|
archie
Posts: 1,855
Likes: 1,856
|
Post by archie on Mar 29, 2018 9:10:01 GMT
Sale in progress and going through legals, what else would you expect/need to hear at this stage? The offer? The buyers name! Let them get on with things. Update much appreciated Moneything, silence makes everyone edgy! An indication of likely timeline - perhaps an explanation of why things are taking so long? So close to the start of the new tax year this would be particularly appropriate. Any predictions just lead to disappointment when they don't happen on time or raise less than forecast. As long as it's progressing that's all we really need to know.
|
|