rogerthat
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Post by rogerthat on Sept 25, 2018 10:47:31 GMT
The above is what happens when loan numbers are used as the title..only the OP or a MOD can change it. However, can anyone decipher the GI tab in the supplemental loan coming up shortly ? 2674015863
FS state that they are using the previous valuation of £2.83m ..21.2% LTV (even though they've seen "sight" of a new valuation of £3.3m)
This supplemental loan 2674015863 ranks behind 1351917187 (@13%..21.2% LTV)
They then state "NOTE: the interest has been reduced to better reflact (sic) the updated valuation and the lower LTV.
Maybe my shock therapy earlier isn't working but...haven't they already said 1. They are using the previous valuation 2. This supplemental will rank behind the original ? 3. The LTV has actually increased from 21.2 % to 23% despite the interest dropping to 12 %
Nurse !
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Post by dan1 on Sept 25, 2018 10:52:21 GMT
The above is what happens when loan numbers are used as the title..only the OP or a MOD can change it. However, can anyone decipher the GI tab in the supplemental loan coming up shortly ? 2674015863 FS state that they are using the previous valuation of £2.83m ..21.2% LTV (even though they've seen "sight" of a new valuation of £3.3m) This supplemental loan 2674015863 ranks behind 1351917187 (@13%..21.2% LTV) They then state "NOTE: the interest has been reduced to better reflact (sic) the updated valuation and the lower LTV.Maybe my shock therapy earlier isn't working but...haven't they already said 1. They are using the previous valuation 2. This supplemental will rank behind the original ? 3. The LTV has actually increased from 21.2 % to 23% despite the interest dropping to 12 % Nurse ! Indeed! fundingsecure - cut the c**p. You know that we know the property is in the process of being refinanced with MT and although nothing is guaranteed you know it'll fill without problem therefore you can drop the rate. It's priced on liquidity, end of.
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Post by dan1 on Sept 25, 2018 11:01:01 GMT
The above is what happens when loan numbers are used as the title..only the OP or a MOD can change it. However, can anyone decipher the GI tab in the supplemental loan coming up shortly ? 2674015863 FS state that they are using the previous valuation of £2.83m ..21.2% LTV (even though they've seen "sight" of a new valuation of £3.3m) This supplemental loan 2674015863 ranks behind 1351917187 (@13%..21.2% LTV) They then state "NOTE: the interest has been reduced to better reflact (sic) the updated valuation and the lower LTV.Maybe my shock therapy earlier isn't working but...haven't they already said 1. They are using the previous valuation 2. This supplemental will rank behind the original ? 3. The LTV has actually increased from 21.2 % to 23% despite the interest dropping to 12 % Nurse ! Indeed! fundingsecure - cut the c**p. You know that we know the property is in the process of being refinanced with MT and although nothing is guaranteed you know it'll fill without problem therefore you can drop the rate. It's priced on liquidity, end of. Surprise surprise, filled in less than a minute.
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rogerthat
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Post by rogerthat on Sept 25, 2018 11:01:07 GMT
 thanks nurse..another wet flannel please
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Post by dan1 on Oct 4, 2018 10:21:21 GMT
We now have an effective third charge loan at a rate less than the first charge loan and without bonuses. Is this nuts or are FS pricing to liquidity?
It'll fly in seconds.
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rogerthat
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Post by rogerthat on Oct 4, 2018 11:44:51 GMT
We now have an effective third charge loan at a rate less than the first charge loan and without bonuses. Is this nuts or are FS pricing to liquidity? It'll fly in seconds purely on the expectation of refinance on MT. You could also add that the maximum bid could have been set at £250 thereby giving more people a chance..but im not sure logic or PR is one of FS's strong points Edit..I take part but not all of that back
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Post by spareapennyor2 on Oct 7, 2018 8:35:35 GMT
no longer moving to MT
Existing lender have changed their mind.
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rogerthat
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Post by rogerthat on Oct 7, 2018 9:50:28 GMT
no longer moving to MT Existing lender have changed their mind. How do you know ?
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rs
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Post by rs on Oct 7, 2018 9:58:51 GMT
no longer moving to MT Existing lender have changed their mind. How do you know ? MT sent an email update of their potential new loans this morning stating existing lender changed their minds. I can only assume the recent 2 tranches at 12% instead of 13% helped the borrower to continue with FS. I wouldn't be surprised if FS close the 13% loan and reissue it at 12% after 4 months.
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rogerthat
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Post by rogerthat on Oct 7, 2018 10:13:00 GMT
MT sent an email update of their potential new loans this morning stating existing lender changed their minds. I can only assume the recent 2 tranches at 12% instead of 13% helped the borrower to continue with FS. I wouldn't be surprised if FS close the 13% loan and reissue it at 12% after 4 months. Ah..thanks...on your second point why after 4 months..AFAICS the 13%er has been active 30days since renewal ?
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rs
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Post by rs on Oct 7, 2018 10:29:00 GMT
MT sent an email update of their potential new loans this morning stating existing lender changed their minds. I can only assume the recent 2 tranches at 12% instead of 13% helped the borrower to continue with FS. I wouldn't be surprised if FS close the 13% loan and reissue it at 12% after 4 months. Ah..thanks...on your second point why after 4 months..AFAICS the 13%er has been active 30days since renewal ? Sorry you're right it'll be 5 months or maybe even 6 months if they consolidate all 3 loans at 12% as a 1st charge.
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rs
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Post by rs on Apr 6, 2019 14:17:49 GMT
Ah..thanks...on your second point why after 4 months..AFAICS the 13%er has been active 30days since renewal ? Sorry you're right it'll be 5 months or maybe even 6 months if they consolidate all 3 loans at 12% as a 1st charge. Paid out all the tranches today but seems like the smaller loan amount to be launched later. I expect the interest rate will be about 12% on the new smaller loan. I hope it's not less than 12%.
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r1200gs
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Post by r1200gs on Aug 7, 2019 11:05:40 GMT
Third tranche at 9 percent is not exactly flying off the shelf here, even at a 26 percent LTV. Not looked at this one before but my goodness they sure have added some value to this site! So the RICS professional says.....
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adrian77
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Post by adrian77 on Aug 7, 2019 11:09:07 GMT
wonder if this borrower was offered 4 very cheap mobile homes for this site- to me this one looks OK on paper but something is niggling me...
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r1200gs
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Post by r1200gs on Aug 7, 2019 11:20:16 GMT
wonder if this borrower was offered 4 very cheap mobile homes for this site- to me this one looks OK on paper but something is niggling me... The thing that is niggling me is the slight doubt that I will get all my capital and interest from a 16 percent LTV loan with this shower, 26 percent might be suicide. Nothing seems to be as it appears around here, there's always a damned skeleton in the closet somewhere. *Goes off looking for skeletons*…..
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thanks nurse..another wet flannel please