TitoPuente
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Post by TitoPuente on Aug 18, 2017 20:55:07 GMT
"The sale is believed to be going ahead. The buyer is currently negotiating access to the site" Is "believed"?? Can anybody with a two-hour MLM course have a more unfortunate word choice?
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TitoPuente
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Post by TitoPuente on Aug 18, 2017 20:08:33 GMT
From the loan overview:
With regards to the build costs - we are providing 100% of these to the borrower. We will release these costs to the borrower in a tranched format (£500k at a time), following receipt of a report from the QS to confirm that the borrower has complied with his construction obligations. i.e he has spent £500k on the build, the value has increased by £x and we can lend him another tranche of £500k minus fees and interest for 12 months. In this way, we can control the overall amount we have at risk based on the status of the build programme.
Stellar job. This and other bits in the case could be interpreted as misrepresentation which is subject to a lawsuit against Lendy, hypothetically speaking.
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TitoPuente
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Post by TitoPuente on Aug 18, 2017 16:40:35 GMT
DFL001. The number suggest this is the first development loan for Lendy... Good start! What a cock-up! The positive side of this story is that it is showcasing Lendy's current skills, capabilities and commitment. Reminds me of FC's highly experienced property team.
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TitoPuente
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Post by TitoPuente on Aug 2, 2017 13:29:20 GMT
Paul64, we NEED answers here. Please don't ignore this.
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TitoPuente
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Post by TitoPuente on Jul 21, 2017 18:55:18 GMT
The last comment is cryptic for me. Will L grant the extension?
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TitoPuente
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Post by TitoPuente on Jul 15, 2017 9:56:38 GMT
Agreed! I can't be the only one who's more than a little concerned that COL are basically not going to do anything now until next week, leaving a whole weekend for these vehicles - which are not in COL's possession - to just magically vanish into thin air! Why can't COL take steps to secure possession of these vehicles before Monday?! If the cars disappear, I understand it to be the equivalent to being stolen. At that point I expect insurance to kick in. I agree. It would be theft which is a crime. Stolen cars can disappear but this normally requires some organised crime assistance. Police investigation would be involved. This then becomes a different ball game. There is a big step between a defaulting borrower trying to avoid consequences and a criminal action. I think it is improbable that the cars will vanish. Having said that, I may be wrong (Think containers).
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TitoPuente
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Post by TitoPuente on Jun 28, 2017 19:56:26 GMT
TRUST, in a Platform's own, in-house DD - The Holy Grail! Any Platform that can achieve and maintain that deserves to be, and will be, wildly successful. NO. Not until the containers are resolved.
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TitoPuente
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Post by TitoPuente on May 27, 2017 19:25:01 GMT
I am unable to understand why anybody with a minimum discerning power can still be in FC. Sorry to be direct. Just read the forums.
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TitoPuente
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Post by TitoPuente on May 26, 2017 8:08:00 GMT
Undecided. I am higher up at £190k ish Q.
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TitoPuente
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Post by TitoPuente on May 12, 2017 6:40:55 GMT
"Latest Independent Monitoring Surveying Report received and next development drawdown due this week. Plots 1-4 are progressing well. However, an extension to term will be required in order to finish the remaining units. Updated valuation instructed in order to consider the request further."
So if the updated valuation is not satisfactory L will not grant an extension? Do they have a choice? i.e. the loan will not be repaid in 35 days regardless.
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TitoPuente
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Post by TitoPuente on May 8, 2017 20:48:12 GMT
Once in a while I check it. Today I found this one:
"The guarantor has proposed an Individual Voluntary Arrangement ("IVA") which will see him repay 4.04p/£ repaid to his creditors over 5 years"
I would have thought this was just a mistake if I did not know the sheer dimension of their lack of shame and incompetence. It's always one bit more appalling.
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TitoPuente
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Post by TitoPuente on May 8, 2017 20:26:02 GMT
Couriously this never took off. I have been following this as an option to diversify my lending. Can anyone with an equity position shed some light on launching plans?
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TitoPuente
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Lendy (L) in Administration
Bots??
Apr 12, 2017 20:12:43 GMT
j1 and jomantha like this
Post by TitoPuente on Apr 12, 2017 20:12:43 GMT
So I want to sell some things on my husbands account and buy on mine - I hit sell on his and refresh and buy on my account (using phone and laptop). It was sold to someone else in less than a split second - bearing in mind I was already in the correct loan - how?? Is this the infamous bots I see mentioned occasionally. TIA Some people get up in the middle of the night to do this so this gives international investors a chance to snaffle. Try not to operate the two accounts yourself, may open up a T&C can of worms. If it is husband/wife and you have full authorisation there should be no worms.
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TitoPuente
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Post by TitoPuente on Apr 2, 2017 19:48:15 GMT
I am an SS advocate, but this is a bit of a shambles, I have to admit.
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TitoPuente
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Post by TitoPuente on Mar 30, 2017 20:52:36 GMT
What about the bank details to fund lender's accounts? It looks like the account name changed to Lendy. Was that communicated at some point? Will payments made for Saving Stream still work today/tomorrow? hopefully yes.
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