Post by wickedxuk on Oct 7, 2016 7:50:51 GMT
New Loan this morning. No doubt it will be gone by the time any meaningful DD has been done but worth a try:
OMV: £575,000.00
1st charge £184,000.00
2nd charge£136,000.00
BridgeCrowd charge: 2nd
total loans secured over property£320,000.00
LTV: 55.7%
Term: 12 Months
purpose: Invest cash into the clients business.
planned exit: Sale of the security property
Last Sold: £235,000 24 Mar 2006
From Nationwide House Price Calculator (from my 4 BTL this is the most accurate calculator I have found based on the index):
Valuation date 1 (Q1 2006):
£235,000
Valuation date 2 (Q3 2016):
£453,959
Percentage change:
93.17%
Valuation *could* be closer to 70% LTV using these figures.
There are however a number of sales in the same postcode that roughly match the valuation given by BC but more digging needed. I'm approaching my limit on p2p with not enough loans I don't want to keep to build the funds for this so I will probably hold back on BC purely on my personal diversification strategy.
OMV: £575,000.00
1st charge £184,000.00
2nd charge£136,000.00
BridgeCrowd charge: 2nd
total loans secured over property£320,000.00
LTV: 55.7%
Term: 12 Months
purpose: Invest cash into the clients business.
planned exit: Sale of the security property
Last Sold: £235,000 24 Mar 2006
From Nationwide House Price Calculator (from my 4 BTL this is the most accurate calculator I have found based on the index):
Valuation date 1 (Q1 2006):
£235,000
Valuation date 2 (Q3 2016):
£453,959
Percentage change:
93.17%
Valuation *could* be closer to 70% LTV using these figures.
There are however a number of sales in the same postcode that roughly match the valuation given by BC but more digging needed. I'm approaching my limit on p2p with not enough loans I don't want to keep to build the funds for this so I will probably hold back on BC purely on my personal diversification strategy.
