grahamg
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Post by grahamg on Nov 3, 2016 18:44:04 GMT
Could savingstream comment on this borrowers habit of liquidating hotels, latest may 2016 in the same area. Bound to say its only the security that counts, but i don't think so.
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grahamg
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Post by grahamg on Nov 3, 2016 14:48:47 GMT
Well having had a rummage around at companies house and despite the figures in the valuation i can't help seeing this loan as a rescue of a rescue package of some sort, rather than anything positive. Another hotel went into CVA in 2014 with liquidator appointed in May 2016
Not 10% material for me.
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grahamg
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Post by grahamg on Oct 26, 2016 9:23:23 GMT
Anyone live close enough to go see who is in residence I’m not sure this is a very good idea, does anyone know what the borrower looks like and how would anyone determine what exactly they are doing at the property if they thought they were there, are you suggesting someone should camp outside? Or are you proposing someone should ring the doorbell and ask? I think this is one of the reasons why borrowers should not be identified here or perhaps even by the P2P platform’s themselves. I have heard that at least one borrower refused a loan because they were harassed by prospective investor’s, although I have no information to be able to verify this myself. Going to have a look at a large development site build and reporting back on it is one thing spying on the occupants of a residential dwelling strikes me as quite another. Was only thinking is there anyone living there at all. Nothing more.
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grahamg
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Post by grahamg on Oct 25, 2016 22:39:56 GMT
Ah but do Lendy know all about the wrinkles on that, I wonder? AC found out the hard way as I recall. Not knowing, and being caught out by 'errant' behaviour on the part of the borrower are two different things. I find it very difficult to believe that SS are not aware of the implications: that would be a huge red flag in general if they did not. Anyone live close enough to go see who is in residence
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grahamg
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Post by grahamg on Oct 25, 2016 16:14:06 GMT
I shall try to contain my excitement. 70% LtV over a fairly unexciting, shabby, not exactly spacious 1960s BtL 3-bed semi (with PP to extend to 5) just south of Croydon. Or is it BtL? The valuer thought it was owner-occupied. They've seen a tenancy. But the applicant says it's vacant, honest. The closest comparable (July this year sale) suggests the LtV is more like 76%. Next door but one (detached) sold in January for £350k. This property is on the market with a Croydon agent for £525k currently (listed date on RM is 30th September). At 12%, I'd not exactly be feeling the love... At 9%? Yes the The tenancy agreement that they saw was from 24.10 2014 for six months Looks occupied to me in the photo's so is someone telling porkies here!
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grahamg
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Post by grahamg on Oct 22, 2016 12:52:10 GMT
The area looks OK on google but:
Hyped up prsentation Hyped up valuation only 6 parking spaces for a 27K sq ft building and no loading yard (Difficult to split) who would buy it and who would rent it in a Brexit climate ?
Guaranteed to extend and not an easy exit for lenders ?
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grahamg
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Post by grahamg on Oct 12, 2016 17:07:00 GMT
It will be interesting to see if this creates a downward trend in rates on other platforms. Hope not I think that is already in progress and this is part of it. Down the AC slippery slope to not worth lending rates
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grahamg
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Post by grahamg on Oct 11, 2016 22:24:43 GMT
May kick this into touch.
When brighton stadium got sold all we got was a burger king a toysrus and a comet store (deceased), oh and a whacking great car park. Not much vaue there.
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grahamg
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Lending Crowd
Schrapnel
Oct 9, 2016 12:13:35 GMT
Post by grahamg on Oct 9, 2016 12:13:35 GMT
For each of the loans i have just sold there seems to be schrapnel left over. I can't list it or unlist it for dale. Does anyone know why or how this gets resolved.
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grahamg
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Post by grahamg on Oct 7, 2016 21:36:56 GMT
Just to continue hijacking this thread:
"October payment received today" is the one and only comment for G H, 5 days after it was due!
Not really very illuminating, perhaps indicating the new communications era has been rather short-lived - not even an attempt at explanation for the delay.
And now that it's back on the market, will there be a deluge of sales? Part listed and gone, no problem
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grahamg
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Post by grahamg on Oct 6, 2016 10:05:29 GMT
Now disabled on the loan exchange
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grahamg
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Post by grahamg on Oct 1, 2016 21:37:02 GMT
Not fragile they weigh 20kg so say 8 panels bolted to frame = 160kg, not going anywhere.
Things supplier won't tell you.
Supposed to last 25 yrs but due to weight needs scaffolding to repair. £800 gone. Panel output degrades each year maube 1%
Also electronic inverter lifetime no more than 10- 15 yrs.
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grahamg
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Post by grahamg on Sept 15, 2016 10:17:29 GMT
Can't see any information on SS as to whether the borrower holds these properties freehold or leasehold (if so what duration) or whatever the equivalent is in scotland In the valuation report, it indicates that all the properties are "Absolute Ownership" which is (I believe) the Scottish equivalent to Freehold. The answer from SS is that "The properties are leasehold. The properties are understood and assumed to be held on the basis of outright ownership of the heritable interest." Do i like the words understood and assumed?
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grahamg
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Post by grahamg on Sept 14, 2016 18:07:19 GMT
Can't see any information on SS as to whether the borrower holds these properties freehold or leasehold (if so what duration) or whatever the equivalent is in scotland
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grahamg
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Post by grahamg on Sept 13, 2016 17:28:21 GMT
Well small woods (5-10 acres) down here in sussex seem to sell for about 10K an acre, but obviously does not scale up.
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