johni
Member of DD Central
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Post by johni on Dec 18, 2017 22:16:44 GMT
There's lots to read on DD Central stokeloans, but the important stuff such as " Do not touch this with a s****y stick" tends to filter on to the Main Forum! There is no consensus as yet either way it's just pooling of information and the above comment has not been made by anyone.
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Post by mrclondon on Dec 18, 2017 23:06:47 GMT
For the avoidance of doubt, the purpose of DD Central is primarily the collation of information ("facts") about a loan, supported by url links to companies house, planning portals, land registry databases, estate agencies, media outlets etc.
It is useful for those that wish to review source material and form their own opinion as to how such information might influence the risk profile of a loan.
The key information will filter across to the public boards, but much of it is merely background and will not necessarily be commented on. If people are interested in reading the background that is discovered then the sensible strategy is to sign up to DD Central if they meet the eligibility criteria.
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Post by sannytwist on Dec 18, 2017 23:17:21 GMT
Whats the general consensus then , are people going to dip their toes like me or does it look tasty enuff to put a few bob in.
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elliotn
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Post by elliotn on Dec 19, 2017 3:35:14 GMT
Whats the general consensus then , are people going to dip their toes like me or does it look tasty enuff to put a few bob in.
Somewhere inbetween, so 'dip a few bob' perhaps.
Cash revenues seen, new planning visible as option is exercised, city centre location, expected to be a self-funded development (ie borrower/buyers will improve value of our 1C as it progresses beyond the initial gutting); main niggles are size of the residual value uplift above 90% LtPP (toppy sales psqf, lowish build cost pspf & contingency etc) plus couple of the director associations.
*Dipping a Few Bob means double my other serviced by borrower/filtered by MT loans but less than my LStA default and half my retained interest loans.
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Post by elephantrosie on Dec 19, 2017 5:45:17 GMT
how developed would bradford be, eventually?
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elliotn
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Post by elliotn on Dec 19, 2017 6:18:00 GMT
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sirius
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Post by sirius on Dec 19, 2017 8:45:14 GMT
Whats the general consensus then , are people going to dip their toes like me or does it look tasty enuff to put a few bob in.
Somewhere inbetween, so 'dip a few bob' perhaps.
Cash revenues seen, new planning visible as option is exercised, city centre location, expected to be a self-funded development (ie borrower/buyers will improve value of our 1C as it progresses beyond the initial gutting); main niggles are size of the residual value uplift above 90% LtPP (toppy sales psqf, lowish build cost pspf & contingency etc) plus couple of the director associations.
*Dipping a Few Bob means double my other serviced by borrower/filtered by MT loans but less than my LStA default and half my retained interest loans. The niggles are more than enough to put me off investing in this.
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Post by woodyalan on Dec 19, 2017 9:54:24 GMT
If I'd waited for the perfect loan I'd still have the cash in the bank account. Safe but no interest.
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slush
Member of DD Central
Here to learn. Please be gentle.
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Post by slush on Dec 19, 2017 10:26:33 GMT
The niggles are more than enough to put me off investing in this. May I ask, what niggles have you identified?
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averageguy
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Post by averageguy on Dec 19, 2017 10:57:36 GMT
The niggles are more than enough to put me off investing in this. May I ask, what niggles have you identified? Maybe he’s mentioned them on DD Central
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sirius
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Post by sirius on Dec 19, 2017 11:05:48 GMT
The niggles are more than enough to put me off investing in this. May I ask, what niggles have you identified? In response to slush
sannytwistCash revenues seen, new planning visible as option is exercised, city centre location, expected to be a self-funded development (ie borrower/buyers will improve value of our 1C as it progresses beyond the initial gutting); main niggles are size of the residual value uplift above 90% LtPP (toppy sales psqf, lowish build cost pspf & contingency etc) plus couple of the director associations.sannytwist has identified in his post (shown above) most of those that I found too.
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slush
Member of DD Central
Here to learn. Please be gentle.
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Post by slush on Dec 19, 2017 11:13:22 GMT
Thank you for clarifying sirius
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sirius
Member of DD Central
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Post by sirius on Dec 19, 2017 11:21:37 GMT
If I'd waited for the perfect loan I'd still have the cash in the bank account. Safe but no interest. I agree, but something tells me that even if I took a punt to resell this loan before the end, others will be doing the same and many of us may well get stuck with it.
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kaya
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Post by kaya on Dec 19, 2017 11:32:48 GMT
If I'd waited for the perfect loan I'd still have the cash in the bank account. Safe but no interest. something tells me..That'll be the lurgies lurking in the pipework. I was hearing them too.
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seeingred
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Post by seeingred on Dec 19, 2017 11:43:46 GMT
The key point on this loan seems similar to another one that was withdrawn by MT also in the same town/city some short while back : dubious valuation uplift. The planning history of this site goes back ten years or more with proposals for flats. There was a purported open market sale for £1m in round figures recently but this must have been with the knowledge that PP for flats was all but certain if not in fact already existing. Yet suddenly it becomes worth an extra £500,000 and the LTV is based on this figure. I'd go into this (if at all) with the view that the true LTV is 100% (or maybe even worse) and added value (if it ever occurs) will only come with developer money being put in to start work on constructing and selling the flats. In loans of this type it would help investor confidence if the whole of the planning and sales history was laid out for all to see, in plain English, and at the outset. SophieThing
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