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Post by ablrate on Dec 6, 2019 7:06:37 GMT
There has; and another earlier about APPROPRIATENESS TEST. Thanks, got the APP TEST one, just not the one about 135/6 I'll have to contact abl directly as there are too many emails not being delivered on my Normal, ISA and my Wifes Normal & ISA accounts. Do get hold of customer services - we have had issues with blueyonder, talk talk and virgin at various times. If we know issues we can take a look and flag them with our email gateway
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boundah
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Post by boundah on Dec 6, 2019 14:31:09 GMT
5 things to like: 1. PP granted. 2. Good location for transport & amenities. 3. Pitched at lower mid-end of market where liquidity is strongest. 4. Developer's track record seems OK. 5. Chronic shortage of housing esp in SE. 5 things not to like: 1. Second charge - 1st charge is already at 65% LTV. 2. Another refinancing package has yet to be agreed. 3. Brexit uncertainty may weigh on market across an overpriced SE England. 4. Valuation will be over-optimistic because this is P2P. 5. It's Croydon Happy to stand corrected if I've missed or misunderstood anything.
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Post by ladywhitenap on Dec 6, 2019 16:23:59 GMT
5 things to like: 1. PP granted. 2. Good location for transport & amenities. 3. Pitched at lower mid-end of market where liquidity is strongest. 4. Developer's track record seems OK. 5. Chronic shortage of housing esp in SE. 5 things not to like: 1. Second charge - 1st charge is already at 65% LTV. 2. Another refinancing package has yet to be agreed. 3. Brexit uncertainty may weigh on market across an overpriced SE England. 4. Valuation will be over-optimistic because this is P2P. 5. It's Croydon Happy to stand corrected if I've missed or misunderstood anything. OI! I was born in Croydon! But you are right it is a hole now not like it was 67 years ago when I appeared in Mayday Hospital LW
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macq
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Post by macq on Dec 6, 2019 16:36:00 GMT
5 things to like: 1. PP granted. 2. Good location for transport & amenities. 3. Pitched at lower mid-end of market where liquidity is strongest. 4. Developer's track record seems OK. 5. Chronic shortage of housing esp in SE. 5 things not to like: 1. Second charge - 1st charge is already at 65% LTV. 2. Another refinancing package has yet to be agreed. 3. Brexit uncertainty may weigh on market across an overpriced SE England. 4. Valuation will be over-optimistic because this is P2P. 5. It's Croydon Happy to stand corrected if I've missed or misunderstood anything. not sure if its like or not like but - 6.same borrower with probably more to come
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Post by Badly Drawn Stickman on Mar 5, 2020 11:27:27 GMT
Looks like another one tomorrow. ablrate given the likelihood of this one being popular did you have some plans for phased bidding restrictions?
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criston
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Post by criston on Mar 6, 2020 11:16:28 GMT
141. Figures are very clear on this one at least.
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p2pfan
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Post by p2pfan on Mar 6, 2020 14:20:43 GMT
#141 looks good and offers a great interest rate for this day and age. But the protection seems to be weak. For instance, it states that the first chargeholder, A****** Capital: "will be receiving a debenture, corporate guarantee, a legal charge over land, and personal guarantees" and "will rank ahead of P* Investments / Ablrate Lenders’ interests in an event of default."
So, should this borrower not be successful, the first chargeholder is likely to take whatever is left within not only this project but all their businesses (as they have a debenture and corporate guarantee) for themselves, leaving Ablrate lenders with nothing or very little?
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Nomad
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Post by Nomad on Sept 2, 2020 8:42:54 GMT
About £50K of 1000133 available at par on the SM.
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Post by Badly Drawn Stickman on Sept 2, 2020 8:46:32 GMT
About £50K of 1000133 available at par on the SM. There is an email explaining this. It is the P* holding. Opinions will vary I suspect. It is nicely counterbalanced by good news on the new loan.
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ptr120
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Post by ptr120 on Sept 2, 2020 8:47:56 GMT
About £50K of 1000133 available at par on the SM. See the email update. The borrower is being allowed to sell out their skin in the game. Wish I'd seen that earlier!
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IFISAcava
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Post by IFISAcava on Sept 2, 2020 9:06:36 GMT
About £50K of 1000133 available at par on the SM. See the email update. The borrower is being allowed to sell out their skin in the game. Wish I'd seen that earlier! does rather stop any selling at a premium
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criston
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Post by criston on Sept 2, 2020 14:25:13 GMT
133
GDV now £5m, originally £4.785m.
Ist Charge £3.11
2nd Charge Ablrate/PI £875k, of which Ablrate £550k , originally £500k
Ablrate LGDV now 73%, originally 75%.
I originally avoided this one, due to the fact that Ablrate lenders could end up with around 80% LGDV if PI are allowed to reduce to 10% holding.
However it is looking slightly less risk now, with higher sale prices, if some reservations end up as completions.
What I wish to know is, if say £750k is received from a completion, are the proceeds shared proportionately among both charge holders, or will it all go to the Ist charge holder. Whatever happens I feel the LGDV will not change much from now on.
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Post by Ace on Sept 2, 2020 15:31:46 GMT
133 GDV now £5m, originally £4.785m. Ist Charge £3.11 2nd Charge Ablrate/PI £875k, of which Ablrate £550k , originally £500k Ablrate LGDV now 73%, originally 75%. I originally avoided this one, due to the fact that Ablrate lenders could end up with around 80% LGDV if PI are allowed to reduce to 10% holding. However it is looking slightly less risk now, with higher sale prices, if some reservations end up as completions. What I wish to know is, if say £750k is received from a completion, are the proceeds shared proportionately among both charge holders, or will it all go to the Ist charge holder. Whatever happens I feel the LGDV will not change much from now on. I was wondering the same. Tagging ablrate.
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blender
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Post by blender on Sept 2, 2020 17:36:38 GMT
I thought the loan from the 1st charge holder had to be fully settled before the 2nd charge holder received anything. Isn't that what it means, and why we get 13%?
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Post by Ace on Sept 2, 2020 18:07:12 GMT
I thought the loan from the 1st charge holder had to be fully settled before the 2nd charge holder received anything. Isn't that what it means, and why we get 13%? I expect you're right, but ultimately it will depend on the exact wording of contracts. It could be that that the borrower is allowed to use excess funds from partial sales over the original valuations to reduce their more expensive debt.
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