dermot
Member of DD Central
Posts: 863
Likes: 517
|
Post by dermot on Dec 29, 2017 11:53:05 GMT
A £50k purchase on Bolly T1 this morning Maybe it was the HSE inspector? Ooh! Conspiracy hats on.
|
|
SteveT
Member of DD Central
Posts: 6,874
Likes: 7,919
|
Post by SteveT on Dec 29, 2017 15:31:06 GMT
Like many, I imagine, I’m unconcerned about this loan but like to remain as liquid as possible, in case better new loans launch in the New Year. So all of my parts are in the selling queue but I’m cycling each one back into the loan as they sell.
|
|
|
Post by steelspanner on Dec 29, 2017 16:25:31 GMT
A £50k purchase on Bolly T1 this morning Same person purchased £15500 later on this afternoon.
|
|
gwenynwyr
Member of DD Central
Posts: 54
Likes: 23
|
Post by gwenynwyr on Dec 29, 2017 17:29:53 GMT
Like many, I imagine, I’m unconcerned about this loan but like to remain as liquid as possible, in case better new loans launch in the New Year. So all of my parts are in the selling queue but I’m cycling each one back into the loan as they sell. Would you explain the thinking behind this. I'm still developing my know-how for p2p - trying to pick out the gems from the drivel! Thanks
|
|
SteveT
Member of DD Central
Posts: 6,874
Likes: 7,919
|
Post by SteveT on Dec 29, 2017 17:40:58 GMT
Like many, I imagine, I’m unconcerned about this loan but like to remain as liquid as possible, in case better new loans launch in the New Year. So all of my parts are in the selling queue but I’m cycling each one back into the loan as they sell. Would you explain the thinking behind this. I'm still developing my know-how for p2p - trying to pick out the gems from the drivel! Thanks Simply that a loan like this, with just a couple of months to run (until / unless extended), is one I would look to reduce in order to buy into any good, new, longer term loan. So when a selling queue forms, given that interest still accrues on MT whilst parts are offered for sale (NOT the case on platforms like Lendy or Collateral), it makes sense to have parts spread through the queue to maximise flexibility. Of course, there’s always the chance a Big Hitter buys the lot and availability disappears, so I wouldn’t do this on loans I plan to keep longer term.
|
|
gwenynwyr
Member of DD Central
Posts: 54
Likes: 23
|
Post by gwenynwyr on Dec 31, 2017 11:16:22 GMT
Thanks Steve
|
|
seeingred
Member of DD Central
Posts: 470
Likes: 664
|
Post by seeingred on Jan 8, 2018 22:38:24 GMT
I had a dream the other night in which Plymouth was bought by an overseas investor, despite not being finished, the money was ploughed into B********* to finish off the first phase in short order, all the sales of those 6 houses went through inside a few weeks and the money released was put towards the second phase of four houses, those that are behind schedule owing to difficult groundworks and a loan that is reaching its LTV limits. Everyone lived happily ever after. or maybe it was only until the next HSE visit. Obviously real life isn't like that. So what's really going on? MoneyThingWhen is the December IMS report scheduled to be available? I believe there was a site visit just before (or just after?) Christmas.
|
|
jlend
Member of DD Central
Posts: 1,832
Likes: 1,461
|
Post by jlend on Jan 25, 2018 10:11:51 GMT
MoneyThing have you received the QS report yet you mentioned in your last update? Is the development still on track for completion at the end of Jan, early Feb? Have all the houses now exchanged contracts ready for completion before the expiry of the loan at the end of February? Thanks
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Jan 25, 2018 11:03:54 GMT
MoneyThing have you received the QS report yet you mentioned in your last update? Is the development still on track for completion at the end of Jan, early Feb? Have all the houses now exchanged contracts ready for completion before the expiry of the loan at the end of February? Thanks Excellent questions. I tried a catch up on loans at the start of the year but the MT "filter" seems a bit clogged on some big loans - if this or any other borrower had cash flow issues and MT had covered any payments (MT "forbearance"), we'd be none the wiser*/**. *until the dreaded email of course; ** presumably in contravention of their own t&c mandating them to give us updates on chasing any late borrower payments.
|
|
jlend
Member of DD Central
Posts: 1,832
Likes: 1,461
|
Post by jlend on Jan 25, 2018 21:22:55 GMT
MoneyThing have you received the QS report yet you mentioned in your last update? Is the development still on track for completion at the end of Jan, early Feb? Have all the houses now exchanged contracts ready for completion before the expiry of the loan at the end of February? Thanks Excellent questions. I tried a catch up on loans at the start of the year but the MT "filter" seems a bit clogged on some big loans - if this or any other borrower had cash flow issues and MT had covered any payments (MT "forbearance"), we'd be none the wiser*/**. *until the dreaded email of course; ** presumably in contravention of their own t&c mandating them to give us updates on chasing any late borrower payments. Fingers crossed for a detailed update from MT. There had been no exchanges on any of the houses based on the last update in November so the developer had a lot to do to ensure the houses were actually sold as well as complete the development in the last couple of months.
|
|
trevor
Member of DD Central
Posts: 557
Likes: 380
|
Post by trevor on Feb 10, 2018 21:54:09 GMT
It's now a month since we were told a visit is due "this week" and then a report. The silence is deafening me.
|
|
|
Post by ladywhitenap on Feb 12, 2018 10:07:30 GMT
It's now a month since we were told a visit is due "this week" and then a report. The silence is deafening me. MoneyThing+1 and the term ends 28th Feb so only a couple of weeks away. Update/predictions please! LW
|
|
jlend
Member of DD Central
Posts: 1,832
Likes: 1,461
|
Post by jlend on Feb 12, 2018 10:41:29 GMT
It's now a month since we were told a visit is due "this week" and then a report. The silence is deafening me. MoneyThing +1 and the term ends 28th Feb so only a couple of weeks away. Update/predictions please! LW My thoughts for what it is worth based on the previous updates on this loan and the MT actions to date on the other loan with the same borrower that has already been suspended. 1. The site will not be completed at the end of the month and not all the houses will have formally exchanged 2. We will be given a new estimated completion date for the loan. 3. This loan will be suspended at the end of the month and default interest will apply.It will not enter formal recovery at this stage.
|
|
seeingred
Member of DD Central
Posts: 470
Likes: 664
|
Post by seeingred on Feb 12, 2018 11:13:08 GMT
As far as I know none of the houses in the first phase have exchanged (they have just been reserved with no commitment, and would-be buyers must be getting restless by now) and the second phase of four houses are barely above foundation level. Of course things might have progressed, but if there was good news we would have been told?? MoneyThing
|
|
drgonzo
Member of DD Central
Posts: 82
Likes: 95
|
Post by drgonzo on Feb 12, 2018 13:38:11 GMT
I hope this one gets extended... I'm getting close to the front of the queue!
|
|