rogerthat
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Post by rogerthat on May 24, 2018 15:09:06 GMT
Im sure mrclondon will provide his in depth analysis on FS DD afore too long but in the meantime:- 3058202213£1,234K @ 12% LTV..65% Think I might wait for the cavalry. Edit Seems the cavalry has already been so I've removed my waffle.
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mikeymike
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Post by mikeymike on May 24, 2018 16:07:03 GMT
Just to the rear of the plot is an extended 4 bed Det with 3 recepts. STC'd at £300k.
So 400K for the end products might be a bit optimistic. But what's new!
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cwah
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Post by cwah on May 25, 2018 0:03:00 GMT
Who is the developer? Would be good to know their track of record.
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rogerthat
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Post by rogerthat on May 25, 2018 7:26:50 GMT
Who is the developer? Would be good to know their track of record. Erm...shhh ! ..it might be the borrower..in which case we're not supposed to know..you're new here aren't you
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cwah
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Post by cwah on May 25, 2018 8:50:04 GMT
Definitely not new. But sometimes we are able to find that out. Got some issue giving high LTV loan on an undisclosed developer and no guarantee to get my money back.
Any insights on the development site? How likely we would recover funds in case of mid way default?
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rogerthat
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Post by rogerthat on May 25, 2018 10:46:13 GMT
Definitely not new. But sometimes we are able to find that out. Got some issue giving high LTV loan on an undisclosed developer and no guarantee to get my money back. Any insights on the development site? How likely we would recover funds in case of mid way default? You need to be asking far more knowledgeable people than me (and even then your 2nd part of question is, I would suggest more or less unanswerable )...and im supposed to be working today..get 50 posts and you can gain entry into FS DD..where mrclondon does due diligence beyond the call of duty..BUT..no identifiable info on borrower can be disclosed here on the open forum...im sure a kindly soul with more time on their hands will enlighten you
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am80
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Post by am80 on May 25, 2018 12:02:35 GMT
Unfortunately I'm mostly a spectator on this forum due to not having much in the way of contribution, therefore finding it hard to reach 50 posts. Although I appreciate the DD and information that can be found on this forum and find it very useful
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cwah
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Post by cwah on May 25, 2018 16:13:43 GMT
Waiting for an expert DD on it! Please help me not loose money
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rs
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Post by rs on Jul 25, 2018 15:38:18 GMT
Cashback of 1% offered by borrower/FS so all lenders pile into the loan. Quick before it's filled.
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rogerthat
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Post by rogerthat on Jul 25, 2018 15:41:29 GMT
Cashback of 1% offered by borrower/FS so all lenders pile into the loan. Quick before it's filled. I'm lost for words..for once
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Monetus
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Post by Monetus on Jul 25, 2018 15:57:37 GMT
Haven't seen bonuses AND cashback together on FS for quite some time.
Sign of the times?
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Post by mrwilliams on Jul 25, 2018 15:59:57 GMT
I am one post closer to accessing DD
Wish I had some fascinating/amusing insight for you all
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Post by mrwilliams on Jul 25, 2018 16:00:29 GMT
Only 42 to go!
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rogerthat
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Post by rogerthat on Jul 25, 2018 16:04:57 GMT
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adrian77
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Post by adrian77 on Jul 25, 2018 17:53:47 GMT
Has anybody else noticed a lot of cashback/bonus offers have gone pectals up. This one has only got outline planning permission so if there is a 6 month delay before building can even start then at 20% interest p.a. that is over £120K charges before building even starts. And if it takes a year that is over £240K in interest alone so it could easily be well over 3 years before any houses are sold and there are readies in the bank.
Doubtless there will be another tasty S106 in addtion to the road - have read the VR - no title inspection, no ground assessment, no building survey, 19.1 states the local authority refuses to state without formal enquiry whether the area is subjected to road improvements
For me this is one for Mr Smutty - costings etc seem OK to me but I am worried about the long term cash flow...just my opinion.
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