ablender
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Post by ablender on Mar 8, 2016 7:31:43 GMT
Monday, Tuesday, Happy days . . . . .
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ablender
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Post by ablender on Mar 7, 2016 21:01:15 GMT
DFLs need more checking up on than pebbles, so; Will we get to see monitoring surveyor reports during the build process? Presumably reports will be instructed as further funds are required, it would be good to be kept in the loop with them being uploaded in a similar way to valuation docs currently, i.e. 48hrs before the next 'call for funds'. And presumably such reports will not be worded in such a way as to exclude us from even seeing them.
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ablender
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Post by ablender on Mar 7, 2016 20:58:42 GMT
Seriously guys. I think we should do something about this. I understand that they want to protect themselves from have a thousand lenders knocking at their doors, but trying to exclude us from using this valuation report which was commissioned by SS or Lendy (which I see as representing us) to do our DD, I think is over the top and completely unacceptable. One day, this can come back to bite us where-the-sun-does-not-shine.
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ablender
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Post by ablender on Mar 6, 2016 23:17:28 GMT
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ablender
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Post by ablender on Mar 6, 2016 21:42:14 GMT
I know I tend to bleat on about this, but to my frail old mind: any communication which requires a reference section to look up its meaning is simply bad communication. I am so tempted to set up an automatic replacement of acronyms with the actual words... the facility does exist... but I'd hate to hurt anybody's feelings. I'll get my coat... You will note that in most cases I have deliberately not used abbreviations and generally spelt the terms in full to avoid frequently asked whats that mean questions. The exception being where Savingstream have used it themselves eg PBL/DFL. Im trying to be good, I am. Can i have a cigar? And here it is.
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ablender
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Post by ablender on Mar 6, 2016 21:27:22 GMT
I know I tend to bleat on about this, but to my frail old mind: any communication which requires a reference section to look up its ,meaning is simply bad communication. I am so tempted to set up an automatic replacement of acronyms with the actual words... the facility does exist... but I'd hate to hurt anybody's feelings. I'll get my coat...
I think most users here are quite happy to use and learn a few acronyms....
If you're not careful I'll start a poll.... I'M WARNING YOU..... Learning acronyms makes you feel professional.
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ablender
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Post by ablender on Mar 6, 2016 21:23:32 GMT
I am also upset by the fact that we are presented yet again with another valuation report that we should not be seeing. I understand that the valuers can only accept responsibility from Lendy as the party commissioning the report, but to go and say that this liability is not extended to their clients, i.e. us the lenders, is a step too far. The valuers should be liable to us through Lendy. Then there is the usual non-disclosure in any form - which implies we cannot see it - without the valuer's written permission. savingstream: Can you please confirm that you have such written permission?
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ablender
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Post by ablender on Mar 6, 2016 21:15:23 GMT
So, can someone tell me if I am getting this right? The report is dated in February 2016 but gives a value as at August 2015
"The valuation date is the date of inspection. . . . The property was inspected on Tuesday 18th August 2015 . . ."
Since values of developments will go down in the initial phase and then go up (hopefully), is the value quoted in the report still valid?
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ablender
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Post by ablender on Mar 6, 2016 18:14:26 GMT
Once the cost of repaying the old loan, fees & interest are deducted I am struggling to have sufficient funds being advance to cover the stated cost of the project based on SS own loan mechanics provided here. So either the borrower is injecting funds himself or SS are charging a lower rate/fees than standard. ilmoro: Can you please check the link in the above text? Cheers.
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ablender
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Post by ablender on Mar 6, 2016 12:21:29 GMT
I personally have removed all investment from the Green and Business accounts. I did this for various reasons but includes the fact that if I want to move money it drips a number of transactions instead of selling enough loan parts, get the sum required and transfers the lot.
It might be nice to see all those decimal points, but for me, it makes things difficult to comprehend. I prefer simple things.
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ablender
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Post by ablender on Mar 6, 2016 12:15:10 GMT
I have not made up my mind yet on whether I am in or out. I do not think that I currently have enough information, which, together with my lack of knowledge, puts me at an unenviable position.
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ablender
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Post by ablender on Mar 6, 2016 9:22:38 GMT
OK. I need to think more about this to understand it. Thanks SteveT.
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ablender
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Post by ablender on Mar 6, 2016 9:08:42 GMT
I have a problem with yield of the ATR 42-500 MSN 532 I have placed an offer: Sell £100 at 102.5%; and it is showing 2.243% (today is 6/3/16, Maturity 29/5/16, interest rate 13%) The way I understand it is the following: For £100 @ 13% I will get £13 in a year Dividing £13 by the price I pay: £13 / £102.5 = 12.68% I tried various other ways, taking into account that I am holding this for only 84days, etc. they all come to the same number. The problem is that on ABLrate website it is showing 2.243% Where am I going wrong? I also tried the calculations on the other offer £731.58 at 101%. I get 12.87% and ABLrate shows 8.993% Looks to me like you're not taking account of the % premiums correctly. If you buy £100 of capital at a 2.5% premium (102.5%) then you've paid £102.50 upfront, so your first £2.50 of interest only offsets the initial capital loss. With a loan that's got 3 months to run, even at 13%, that doesn't leave much in the way of actual profit. Crudely you can estimate it as: % Profit = £ Profit / £ PaidIn your first example, £ Profit = interest earned - premium paid = (£100 x 13% x 84/365) - £2.50 = £2.99 - £2.50 = £0.49 whilst, £ Paid = £102.50 so, % Profit = £0.49 / £102.50 = 0.48% The AER calculation is more accurate, taking account of the actual timing of individual payments (£1 tomorrow is worth more than £1 in 30 days, since you can reinvest it for the intervening 29 days), so there can be quite a difference over such a short period with so few payments. But the estimated return calculation above will generally give you a good steer. Isn't your calculation taking into account your extra payment of £2.50 twice: Once when you reduced it from Profit and then when you divided the profit by amount paid? (Underlined in quote)
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ablender
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Post by ablender on Mar 6, 2016 3:41:33 GMT
I have a problem with yield of the ATR 42-500 MSN 532
I have placed an offer: Sell £100 at 102.5%; and it is showing 2.243% (today is 6/3/16, Maturity 29/5/16, interest rate 13%)
The way I understand it is the following:
For £100 @ 13% I will get £13 in a year
Dividing £13 by the price I pay: £13 / £102.5 = 12.68%
I tried various other ways, taking into account that I am holding this for only 84days, etc. they all come to the same number.
The problem is that on ABLrate website it is showing 2.243%
Where am I going wrong?
I also tried the calculations on the other offer £731.58 at 101%. I get 12.87% and ABLrate shows 8.993%
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ablender
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Post by ablender on Mar 6, 2016 2:19:14 GMT
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