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Post by crabbyoldgit on Mar 2, 2016 19:25:16 GMT
So they have owned the property for a number of years but still need a interest only loan for the first 2 years ,one of the tennents is the son so if his business gets in problems ?, difficult. Owners main income is taxi driver ,competitive area and not the sort of income to support losses in the property business i would think.Na not for me.
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Post by crabbyoldgit on Feb 28, 2016 21:58:49 GMT
This just gets more interesting ,so i see personal guarantees given no value some with a figure offered less than the total of the loan and therefore i guess limited to that even if the personal wealth of the borrower exceeds this sum offered in the guarantee.Some where the figure is the full value of the loan, the question is of course is if the most basic checks are made that if required,the borrower may have assets remotely likely to cover the loss if required.Heck i could offer to give a personal guarantee to the goverment of the USA to underwrite their national debt but i dont think to will mean much if they go bust.So are personal guarantees mainly hot air or do have at best marginal use.
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Post by crabbyoldgit on Feb 27, 2016 8:15:20 GMT
Thanks cris interesting i see the logic of using all loans against the asset to calc ltv and on the whole think ac have probably got it right being conservitive in this respect , however its interesting how different methodologies would result in different ltv figures and with this loan due to the fact the outstanding loan is so small compared to the overall headroom figure i think the real risk is lower than the ltv would suggest, it just shows how understanding the basis on which stats are derived and the items taken into consideration or ignored are important to understand the real relivance of the figure you are looking at. There are lies , dam lies and statistics.
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Post by crabbyoldgit on Feb 27, 2016 6:53:44 GMT
Sorry this the wrong post but something is wrong about the ltv calcs,previously ive asked if the ltv was recalculated on every capital repayment and updated on the display and this was confirmed unless i misunderstood. However take 54 ,capital remaining £10000, asset £390000 second charge £250000 in my mind leaves security of £140000 on loan of £10000 but the displayed ltv is 66.67%,uh. Looks like the program is not seeing bullet payments when recalculating ltv.By the way i would quite like a bit of 12.5% on an ltv of arround 7% my target is set if your desperate to sell
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Post by crabbyoldgit on Feb 25, 2016 15:28:12 GMT
Ah sorry i had forgotten the Irish element , foreget the unannounced beating on door at 0530, they have interesting traditional and unpleasant responses to these occurrences involving violence and firearms. I sujest the interest rate goes up 1/4% every 0000hrs sunday /monday in march .1/2 % per week in april,1% per week in may and why not 10% in june because by then i will have lost all interest permantley in this loan.The gods i think may be trying to warn us of something bad.
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Post by crabbyoldgit on Feb 25, 2016 9:23:52 GMT
Am i alone in starting to feel 225 is getting a little silly what else can delay this, latest thing seems a solicitor has not turned up for work, well if he got what still laying me low after 5 days now i send my heart felt condolences ,however a company dealing in deals of this size cant be reliant on on individual especially as the endless delays over this would have given anyone time to get all there ducks in line and polish their bills and feet 3 times.If this does not happen today i suggest an unexpected breakfast meeting 0530 at the principles house may focus minds as i seem to remember a member of this forum sayed he used to deploy.
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Post by crabbyoldgit on Feb 23, 2016 4:11:43 GMT
Yes but the vital words here are until paid by the borrower, so if the loan was a development type where interest is rolled up and payed up at the end on repayment when the project is complete and sold or refinnanced wharever, that may be a long time. Well i think thats so, sorry if i am wrong
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Assetz Capital (AC)
GBBA totals
Feb 22, 2016 20:21:28 GMT
Post by crabbyoldgit on Feb 22, 2016 20:21:28 GMT
there isnt, its considered by ac a black box investment , you dont need to know it seems. I believe you can down load your investment history in a csv file and then apply filters and clever things but life is just to short and i am to crabby and old to be bothered to learn.Sorry been in bed for 48hrs, man flu,or probably black death or something non serious feeling a bit sorry for self and suffering sence of humour failure .
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Post by crabbyoldgit on Feb 18, 2016 15:40:55 GMT
So the administrator is going to continue paying the full rent and has appointed a care company to run the home as a ongoing bussiness. Now i think the previous bussiness was profitable just had cash flow issues and if a sell is made to a new operator one would assume they would take over the lease and all is fine.Or have i got this wrong and should run for the hills.No other party involved in the running of the homes has a call on our assets and the ltv looks ok, so why do i feel uneasy.
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Assetz Capital (AC)
Out for now
Feb 17, 2016 8:37:26 GMT
Post by crabbyoldgit on Feb 17, 2016 8:37:26 GMT
Ive wittered on about diverification on the geia/gbba for ages ,sorry, but thanks cris and team these proposals seem very good including the possible rule bend for new investors to gain quick deployment of funds.Maybe my long term plans to go 100% mlia will need a review as far as the geia goes as a spread of risk strategy. So many choices, so little money. Never mind maybe ive had another email from the lotto.
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Post by crabbyoldgit on Feb 16, 2016 6:15:11 GMT
Sadly the only account is held by my wife a non tax payer,self employed, the only advantage we can see is not possibly having to declare on her self employed tax return.So the account does not offer any advantage we can see unless i miss something.Of course if any rich benefactor on this site would wish to donate holdings to make tax an issue, i am sure they would be gratefully received.
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Post by crabbyoldgit on Feb 13, 2016 19:52:35 GMT
sorry i am against selling at a premium , other sites where you have to live on line with fingers of the speed of a super hero leave me sub zero cold . AC offer a fair platform where ok with some dilligance and watching this forum you can get a small edge but those who have to be at work for a living the smaller investor on the whole get a fair crack of the whip. At some stage there will be a consolidation of this now new industry and the big boys will win and i hope ac is a big boy, but to be there they need mass investors and large numbers of loans that means mass market appeal. I was attracted to peer to peer because i was fed up with the big ie rich players taking all the rewards of risk and then giving the bill, ie me, the tax player the cost of failure. The simple investor wants a transparent clear funding process to reward investors and enable sme companies to have a reasonable fair credit line to enable them to borrows funds at a fair rate under stable reasonable terms so they to can make a profit. Anything that smacks of turning a fast buck by the churning loan parts at a rapid speed is not what i thought the ethos of peer to peer is. Premium selling i think will enable full time investors to make short term profits from other investors who cant sit on their laptop hour after hour to grab loan parts and sell on days later at 2 or 3% profit margins that type of site is not for me but maybe i am to soft.
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Post by crabbyoldgit on Feb 9, 2016 17:03:08 GMT
Err actualy i think the gbba runs on the same program as the geia and hence does not constantly rebalance stake holders loan parts as trading between members does not work even though the documention says it does.Hence stake holders risk profile only changes when funds are available and loan parts free in realality on release of a new loan as this is only when any quantity of loan parts to make a significant difference will exist.But ive wittered on about this in other posts and will now shut up,its the main reason i am slowly withdrawing from the geia and gbba.
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Post by crabbyoldgit on Jan 31, 2016 6:20:22 GMT
Thanks mike for making my mind up,i am out of 208.The previous history of this business made me nervious at drawdown and anybody can mess up first standing orders,but not to sort it out in 2 weeks ,no.Its a lession for me ,dont judge just on ltv, does the story make sence to me and do i want to help these people comes into it. For example the heating lot have had failures but seem to protect their creditors as best they can going down with ship if required,now i like that and want to give them a chance feel the same about the london legal crowd,15% does help a little
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Post by crabbyoldgit on Jan 29, 2016 9:54:13 GMT
Ok im not a newbie but i am now after a year starting to move from a fund building position to a consolidating and diversification stage which has made me review my existing loan stock and has raised a few questions i did not worry to much about when just trying to get funds lent out in the famine. So in loans which are paying back interest and capital is the ltv displayed updated on each payment to represent the new outstanding loan position against the historical valuation of the asset or does it remain the same for the duration of the loan. Also the calculation of the ltv does not quite make sence to me .It seems that only the major asset is taken into account or some assets offered discounted in the calculation why and on what bases.Unless of course my crude mental arithmetic has gone wrong somewhat.
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