|
Post by alexp2p on Oct 11, 2019 14:59:51 GMT
Any opinions about this new loan?
|
|
|
Post by mrclondon on Oct 12, 2019 18:52:56 GMT
There appears to be an error in the FLR pdf wrt the EPC ratings ... stated as 'D & E respectively'. Should be the other way round 'E & D respectively' (correctly stated in the VR)
Whilst E for the converted building is probably understandable, D for the 2015 new build seems very poor.
The FLR pdf states the tenure of the converted building is long leasehold, the title plan appended to the VR (page 103) matches to a leasehold LR record, and yet the valuation is stated as being on a freehold basis (pages 98 and 92) ... probably because PL's letter of instruction (VR page 18) states freehold which is then echoed on the valuer's confirmation (VR page 21).
The FLR pdf states the borrowing company has 2 shareholders split 50/50 which makes sense, but the CH record for Persons of Significant Control is incorrect as it only lists 1 of the 2.
|
|
bababill
Member of DD Central
Posts: 525
Likes: 243
|
Post by bababill on Oct 14, 2019 7:59:51 GMT
Regarding the leasehold issue- Good point.
Reminds me of a similar issue MT's Lytham loan where we all took a haircut.
In addition VR makes all references to the London market/ City market and the South East more broadly whilst no mention of the North of England market. Looks like another poor cut and paste job.
|
|
eeyore
Member of DD Central
Posts: 739
Likes: 729
|
Post by eeyore on Nov 9, 2022 17:38:08 GMT
This four-year loan was repaid today, in full, a year early. (Redemption date was 4-Nov-2023.)
|
|