amphoria
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Post by amphoria on Jan 6, 2017 12:44:49 GMT
Just a comment. The 'Your Portfolio' number on the right of the dashboard could be confusing for new users. As one myself, I spent some time looking thought the faq etc to see what the number actually refereed too at first. At first I thought it was percentage deployed. I'm still not 100% sure, but believe it's the average term of the loans in the portfolio. I could not find this explained anywhere and it's probably 100% clear to people like yourself, but for some new people, it may be a little confusing first off. It's the total number of individual investments.
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amphoria
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Post by amphoria on Dec 16, 2016 12:44:54 GMT
I've been credited the capital twice. Seems to be the same fault as last time, you get credited for what you originally bought regardless of whether you sold any later. Except I have not sold any of this loan. However, I did buy it on the SM, so maybe I am being credited with the previous owner's capital, as well as my own.
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amphoria
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Post by amphoria on Dec 16, 2016 12:11:01 GMT
Hi jonno , Yes we're aware of this and the developers are on with it. All capital will be added to your account ASAP. Many thanks, Gordon I've been credited the capital twice.
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amphoria
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Post by amphoria on Nov 30, 2016 22:59:37 GMT
You're lucky. My Zopa Plus looks like this:
Missed Payments £8.38
13 borrowers (3.2%) have missed payments for non-safeguard loans.
This also excludes one default as the defaults are removed from the statistics when they are written off against the interest payments. Over the next couple of months I am expecting another 5 loans to default.
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amphoria
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Post by amphoria on Nov 30, 2016 13:57:48 GMT
NatWest is also part of the RBS group.
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amphoria
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Post by amphoria on Nov 17, 2016 15:15:07 GMT
I think RS charge £3 for a withdrawal after the first three (which are free) unless I am mistaken ... RS don't charge for withdrawals from the holding account. <Crossed with Neil>
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amphoria
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MoneyThing (MT) in Administration
BPF585
Nov 16, 2016 20:06:02 GMT
Post by amphoria on Nov 16, 2016 20:06:02 GMT
The revised valuation letter doesn't appear to make any sense. The original valuer measured the property at 1211 sq ft. Based on £625,000 this gives a value of £516/sq ft. The comparable properties in the letter range from £533/sq ft to £600/sq ft. The revised value for this property of £565,000 appears to be based on £466/sq ft. bengilbert is this correct or is the floor area given in the original report incorrect? We have no reason to think the floor area in the original valuation was incorrect. In that case I would agree with your previous statement that he is being highly conservative especially given that his two highest value examples are "under offer" and exchanged in October 2016, ie. post Brexit.
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amphoria
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MoneyThing (MT) in Administration
BPF585
Nov 16, 2016 16:39:11 GMT
mrclondon likes this
Post by amphoria on Nov 16, 2016 16:39:11 GMT
The revised valuation letter doesn't appear to make any sense. The original valuer measured the property at 1211 sq ft. Based on £625,000 this gives a value of £516/sq ft. The comparable properties in the letter range from £533/sq ft to £600/sq ft. The revised value for this property of £565,000 appears to be based on £466/sq ft. bengilbert is this correct or is the floor area given in the original report incorrect?
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amphoria
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Post by amphoria on Nov 8, 2016 21:01:32 GMT
Is there any advantage whatsoever to spreading my investment in one loan over the various tranches or am I just as well off with it all remaining in tranche 1 ?? As far as I know all tranches are pari passu although once tranche 4 has gone the whole lot move to first claim en masse. Someone else may correct me... MoneyThing please can you comment on this. I initially read it that only the 4th advance would have 1st charge status (presumably at a lower interest rate) and that the first 3 advances would remain at 2nd charge status. However, the words are ambiguous enough that it could be read either way.
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amphoria
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Post by amphoria on Nov 1, 2016 22:35:53 GMT
I note that the average MV per unit on the valuation is less that the sale prices on the brochure (and less than the advanced sale prices documented in the VR as having been achieved). The brochure is offering a guaranteed yield of 9%. The VR estimates market values based on a yield of 7.5%. From this I infer that the developer expects to achieve higher rentals than those assumed in the VR. On the basis of the comparable (an inferior development with comparable rates (£70-£100 vs £75-£90) the valuer may have lowballed the rates. I ran 2 more scenarios. The first was assuming weekly rents of £85 for the en-suites and £100 for the studios which is roughly what the 9% assured yields amount to. This gives a GDV of £6.35m which is pretty close to the GDV in the valuation report. The second more optimistic scenario was to assume that the developer can sell all of the rooms at the brochure list prices. This gives a GDV of £7.04m.
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amphoria
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Post by amphoria on Oct 31, 2016 20:44:56 GMT
Looking at the pictures and floorplans, it looks like the 'en suites' have beds/toilets, and the studios have kitchens, sofas etc So maybe the studios are just fancy daytime-only accomodation for the rich students? The studios are coloured beige in the floor plan in the brochure and have beds. The rooms coloured red that you seem to be referring to are separate shared kitchens.
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amphoria
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Post by amphoria on Oct 31, 2016 12:04:36 GMT
I have been reading through some of the older valuation reports in case any units become available on the SM or there are further tranches offered.
In the case of MTAH367 the valuer appears to have made a possibly significant error in the Valuation Report. He assumed that the 119 en-suite rooms are larger than the 21 studio rooms. I made the same mistake until I looked at the glossy brochure where the studio rooms are clearly larger and are being offered to investors at a higher price. Assuming that the weekly rental remains £75 for the smaller rooms (ie. en-suite) and £90 for the larger studio rooms, this reduces the GDV to £5,650,000 using the spreadsheet in Appendix C. As the construction costs of £4,000,000 are fixed, the Site Value reduces considerably, although the Ground Rents are unchanged so the overall value is not impacted as much.
Can anyone spot an error in my logic?
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amphoria
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Post by amphoria on Oct 19, 2016 10:46:02 GMT
Plus all those whose rolling market loans matured on 17th. Given that this was a Monday that's usually £5-6 million worth based on the demand for new loans.
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amphoria
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Post by amphoria on Oct 17, 2016 18:12:40 GMT
My 5 year payments are in, but still nothing from the Rolling market. Same here.
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amphoria
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Post by amphoria on Oct 9, 2016 21:22:22 GMT
Since a sqM is almost exactly 10 sqft, I guess we can assume thy slipped the decimal place / comma by 2 places, rather than the whole 3. It's actually 10.76 square feet, which may not seem much of a difference. However, if he did mean £10,000 per square metre, the house would only be valued at £4,647,000. It's more likely that he got his sq feet and sq metres mixed up.
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