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Post by mrclondon on Sept 21, 2017 10:59:09 GMT
Possibly a better valuation on this compared to the other bungalow, £115k OMV doesn't feel excessive
A Rightmove search for 2 bed bungalows within a 1 mile radius of this produces 1 hit (£159k), but widening the search area out to 3 miles gives a range of £95k - £250k.
At £95k the LTV would be 85% but with limited availability in the immediate area, it might sell fairly quickly.
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elliotn
Member of DD Central
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Post by elliotn on Sept 21, 2017 11:22:09 GMT
collateral , Collateral Rep Please include the loan purpose in the overviews of loans! Are the 3 loans for the purpose of purchase, refinance or simply to raise funds? Equity release for other business venture.
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Post by Collateral Rep on Sept 21, 2017 11:23:24 GMT
Hi cooling_dude, I've added it to the loans. Many thanks, Gordon |
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snowmobile
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Post by snowmobile on Sept 21, 2017 12:10:16 GMT
Rightmove shows a similar 2 bed dormer property on the same road sold for just £76k in June 2015. I wonder why the desktop valuation report fails to mention that one  The wording used in the report and loan details does not entirely inspire confidence "Accommodation is understood to comprise". As the properties are already owned surely this information could be confirmed. |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 21, 2017 13:55:32 GMT
Collateral Rep is the security freehold or leasehold for this specific property as the land registry property search indicates the property is part of a much larger title comprising much of the road but there is also a leasehold title. Not sure how we could take security on part of a multiple site freehold title
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Post by Collateral Rep on Sept 21, 2017 14:42:17 GMT
Hi ilmoro , I've updated the details on the loan page and stated what the first charge is on. BL00057 - M***** G***** - Freehold BL00058 - St A***** C***** - Freehold BL00056 - M**** R*** - Long leasehold (999 years) Many thanks, Gordon |
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n
Member of DD Central
Yet another Nick
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Post by n on Sept 21, 2017 14:47:34 GMT
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Post by Collateral Rep on Sept 21, 2017 14:50:33 GMT
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mouse
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Post by mouse on Sept 21, 2017 16:06:30 GMT
I've just got in from work and seen these new loans )
Is BL00056 the loan that is now fully funded (and is not a bungi )
or should this thread have BL00057 as the title ? If not where is the thread to BL00057.
Would be grateful if someone could clarify
thnx
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liso
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Post by liso on Sept 21, 2017 16:51:29 GMT
Yes, BL56 fully funded quickly, and there is no thread for BL57. Or if there is. I've missed it!
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mouse
Posts: 55
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Post by mouse on Sept 21, 2017 17:00:25 GMT
Yes, BL56 fully funded quickly, and there is no thread for BL57. Or if there is. I've missed it! Thnx for that info liso
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Post by notascooby on Jan 13, 2018 20:27:23 GMT
Re BL00056 and BL00057. Both these are described as W**ls**d although that may be down to the postal description. Probably not Newcastle but North Tyneside Council. This area is older suburban housing and is near the road up towards what would have been the former industrial estates with a big Asda bathroom warehouses and shoe emporiums. However the community s well established. The nearby dual carriageway of the Coast Road is a pain at rush hour and seems to have been roadworks for years. The area is quite big into housing benefits in my experience. However it has an excellent medical centre and GPs surgery with on site pharmacy.
Both the houses seemed to me (I have owned houses nearby) to be a little on the high side as supported by some of of the Rightmove data. Although the last can be way out. What I do know from recent experience of house hunting is that wider area there have been a fair number of similar houses sitting on the market. About half a mile away there is a vast (and I mean vast) number of new builds. Some complete and some just finishing. They will have to find owners and they are advertising some cheap deals on their showroom boars.
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