am
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Post by am on Jan 27, 2017 12:35:48 GMT
Is the adjoining property being financed (separately) by BPF?
Since it's not mentioned I assume that there's no cross-collateralisation between the two properties.
I was a little confused, but I think that MT has put up the wrong photo. (The lower numbered property, while we're lending - or not, as the case may be - on the higher numbered property.)
The flats appear to be being marketed, 2 @ £250,000 and 1 @ POA, assuming that the 3 properties in Zoopla are 3 different properties (the details don't give a fine enough address to separate them), and are in this property rather than the other one, or another property of similar appearance. (The floor plan seems to match the property we are lending on.) This is higher than the GDV in the VR. The marketing identifies the borrower.
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Post by bengilbert on Jan 29, 2017 14:41:24 GMT
Is the adjoining property being financed (separately) by BPF? Since it's not mentioned I assume that there's no cross-collateralisation between the two properties. I was a little confused, but I think that MT has put up the wrong photo. (The lower numbered property, while we're lending - or not, as the case may be - on the higher numbered property.) The flats appear to be being marketed, 2 @ £250,000 and 1 @ POA, assuming that the 3 properties in Zoopla are 3 different properties (the details don't give a fine enough address to separate them), and are in this property rather than the other one, or another property of similar appearance. (The floor plan seems to match the property we are lending on.) This is higher than the GDV in the VR. The marketing identifies the borrower. Currently, the adjoining property is owned by the borrowers and financed on a separate mortgage (not Broadoak). Once works are complete on the property financed on MT, the borrowers intend to refinance the other property onto a facility from us allowing them to complete the works on that property. You are correct about the photo. Apologies, I'll ask Ed to replace it with the correct photograph.
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