ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 20, 2016 13:03:19 GMT
MoneyThing - might be worth putting the term in the loan title just for speed - I know its in the writeup & can be worked out from end date but if you are just looking at a list of loans it will be useful to be able to see which is which just by looking eg whats on SM.
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Post by MoneyThing on Apr 20, 2016 13:06:38 GMT
MoneyThing Ed, the email says; There will be a maximum bid restriction of 1% of the total value of the loan. is this correct, or is it £1000 for each of 4 tranches +750. Afternoon. The latter. Regards, Ed.
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Post by MoneyThing on Apr 20, 2016 13:09:48 GMT
Ed's original comment on the Pipeline Loans list says "Part B of this loan (behind ours), is already listed on TC." How does that compare rate-wise versus this one, and is it a 2nd charge on the same asset? Afternoon. The part B on TC is at a higher rate of return on a 2nd charge basis. Regards, Ed.
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Post by MoneyThing on Apr 20, 2016 13:15:24 GMT
MoneyThing - might be worth putting the term in the loan title just for speed - I know its in the writeup & can be worked out from end date but if you are just looking at a list of loans it will be useful to be able to see which is which just by looking eg whats on SM. Acknowledged. Have adjusted it accordingly - is this better? Regards, Ed
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registerme
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Post by registerme on Apr 20, 2016 13:19:24 GMT
Does anybody understand the positive spike in current assets / net worth from 2014-2015?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 20, 2016 13:19:29 GMT
MoneyThing - might be worth putting the term in the loan title just for speed - I know its in the writeup & can be worked out from end date but if you are just looking at a list of loans it will be useful to be able to see which is which just by looking eg whats on SM. Acknowledged. Have adjusted it accordingly - is this better? Regards, Ed Excellent, thanks.
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Investor
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Post by Investor on Apr 20, 2016 13:20:16 GMT
Ed's original comment on the Pipeline Loans list says "Part B of this loan (behind ours), is already listed on TC." How does that compare rate-wise versus this one, and is it a 2nd charge on the same asset? I think it was £300k, 12% Fixed, 6m roll-up then 54m amortization, assume 2nd charge but don't rely on this since I didn't lend on it and my memory might be playing up. TC also has stats on F&P loans but not sure whether I should really be placing them on this forum. Overall results are as good as any of the other major TC introducers/brokers and better than quite a few. "This funding requirement has been met by these loans of £475,000 from MoneyThing, with a second charge loan on the property from ThinCats of £300,000 and the group’s own funds of circa £250,000. It is anticipated that the new site with its substantial additional capacity will produce additional annual net income of circa £200,000 for the group before finance costs" My bold
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Investor
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Post by Investor on Apr 20, 2016 13:25:13 GMT
Are there any Health and Safety officers on the forum?
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stevio
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Post by stevio on Apr 20, 2016 13:45:33 GMT
I think it was £300k, 12% Fixed, 6m roll-up then 54m amortization, assume 2nd charge but don't rely on this since I didn't lend on it and my memory might be playing up. TC also has stats on F&P loans but not sure whether I should really be placing them on this forum. Overall results are as good as any of the other major TC introducers/brokers and better than quite a few. "This funding requirement has been met by these loans of £475,000 from MoneyThing, with a second charge loan on the property from ThinCats of £300,000 and the group’s own funds of circa £250,000. It is anticipated that the new site with its substantial additional capacity will produce additional annual net income of circa £200,000 for the group before finance costs" My bold So 475k MT 300k TC 775k Total on a £790k asset makes a 98% LTV!
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oldgrumpy
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Post by oldgrumpy on Apr 20, 2016 14:00:18 GMT
Don't think I'll lend on Thin Cats for this one then! (Not in TC anyway)
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stevio
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Post by stevio on Apr 20, 2016 14:07:37 GMT
Don't think I'll lend on Thin Cats for this one then! (Not in TC anyway) Out of interest, is TC worth investigating? Do they have many secured loans and what is the general rates?
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Steerpike
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Post by Steerpike on Apr 20, 2016 14:27:49 GMT
There is a good flow of different loans on TC but after some years I have just had enough of the slow site and obscure software so I am in withdrawal mode now.
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investibod
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Post by investibod on Apr 20, 2016 14:35:31 GMT
The valuation in the report is based on full planning permission having been granted. As this is not (yet) the case, I would be more interested in the present value.
The borrower purchased the site for £725,000 so I would be sceptical regarding any valuation above this price for the present status.
£475,000 from MT plus £300,000 from TC gives a total of £775,000. If we take the purchase price as the value, this gives a LTV of £107%.
I think that I might stay clear until planning permission is resolved.
Shame, as a 4.5 year loan would fit my needs quite well at the moment.
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Post by Deleted on Apr 20, 2016 14:55:17 GMT
Does anyone know which council it is? Some councils actually discourage increasing employment and so manage their planning policies to follow that concept. Harrogate for one for those who don't believe me.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 20, 2016 15:08:26 GMT
The valuation in the report is based on full planning permission having been granted. As this is not (yet) the case, I would be more interested in the present value. The borrower purchased the site for £725,000 so I would be sceptical regarding any valuation above this price for the present status. £475,000 from MT plus £300,000 from TC gives a total of £775,000. If we take the purchase price as the value, this gives a LTV of £107%. I think that I might stay clear until planning permission is resolved. Shame, as a 4.5 year loan would fit my needs quite well at the moment. Mt loans should be OK as they have first charge, though I suppose the danger is if The TC loan goes into default they will invoke their charge focing MT to do the same and leaving us stuck in a non-paying recovery loan. Site does have Outline Planning according to the info pack so some hope value. Figures dont give me great confidence in the new partners assessment that the loans are 'well-secured' MoneyThing what stake does the new lender have in the loans, first lost, buyback? Are they just an introducer rather than a partner in the more usual sense on MT?
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