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Post by pauliee on Dec 22, 2021 9:22:20 GMT
Hi, having trouble with this LTGDV calc on a current offering.
Quote from KUF "Our loan will total £3,521,463.00 against a gross development value of £4,400,000.00, giving a LTGDV of 66.51%."
But £3,521,463.00/£4,400,000.00 = 80.03%
Has this been asked before as I have searched and can't find anything?
Thanks
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,009
Likes: 577
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Post by dave4 on Dec 22, 2021 9:35:44 GMT
Hi, having trouble with this LTGDV calc on a current offering. Quote from KUF "Our loan will total £3,521,463.00 against a gross development value of £4,400,000.00, giving a LTGDV of 66.51%." But £3,521,463.00/£4,400,000.00 = 80.03% Has this been asked before as I have searched and can't find anything? Thanks Have you Approached K directly for a explanation?, If you do please could you explain here.
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Post by overthehill on Dec 22, 2021 10:55:36 GMT
Hi, having trouble with this LTGDV calc on a current offering. Quote from KUF "Our loan will total £3,521,463.00 against a gross development value of £4,400,000.00, giving a LTGDV of 66.51%." But £3,521,463.00/£4,400,000.00 = 80.03% Has this been asked before as I have searched and can't find anything? Thanks
This is a bit of a hijack but is still relevant. What I don't like about these figures - and I don't know how the FCA regulations allow it - is they totally ignore the accrued interest which will be due at exactly the same point in time used to estimate these %LTGDV figures.
The only P2P company I've seen do it properly and include the owed interest in the loan proposal is CapitalRise, feel feel to add to what is likely to be a very short list.
For this loan maybe the units will be sold off in stages as the developer progressively draws down the full loan , don't know? Kuflink have their own way of presenting things as well!
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Post by Ace on Dec 22, 2021 13:49:57 GMT
Hi, having trouble with this LTGDV calc on a current offering. Quote from KUF "Our loan will total £3,521,463.00 against a gross development value of £4,400,000.00, giving a LTGDV of 66.51%." But £3,521,463.00/£4,400,000.00 = 80.03% Has this been asked before as I have searched and can't find anything? Thanks
This is a bit of a hijack but is still relevant. What I don't like about these figures - and I don't know how the FCA regulations allow it - is they totally ignore the accrued interest which will be due at exactly the same point in time used to estimate these %LTGDV figures.
The only P2P company I've seen do it properly and include the owed interest in the loan proposal is CapitalRise, feel feel to add to what is likely to be a very short list.
For this loan maybe the units will be sold off in stages as the developer progressively draws down the full loan , don't know? Kuflink have their own way of presenting things as well!
CrowdProperty usually state the LTVs with and without interest.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,009
Likes: 577
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Post by dave4 on Dec 23, 2021 15:14:03 GMT
Hi, having trouble with this LTGDV calc on a current offering. Quote from KUF "Our loan will total £3,521,463.00 against a gross development value of £4,400,000.00, giving a LTGDV of 66.51%." But £3,521,463.00/£4,400,000.00 = 80.03% Has this been asked before as I have searched and can't find anything? Thanks Have you Approached K directly for a explanation?, If you do please could you explain here. Kuf explanation. Security 1 FLC and 4 additional equitable charges Total Day One debt £8,816,250.00 (Kuflink - £1,232,463.00) VS total security value £12,350,000.00 = 66.29% LTV Total debt incl. build costs / Gross Loan (Kuflink £3,521,463.00) VS total security value (FLC now at GDV) £15,750.00 = 66.51% LTGDV The equitable charges are all held on completed securities so the values quoted are OMVs. The LTV and LTGDV quoted are as stated above and include additional securities provided by the borrower to reduce the risks to us and our investors.
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