ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 7, 2019 12:35:34 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..... A RICS professional? Entirely kosher then, unquestionably reliable and safe at 26% LTV, bet the farm, and yer pension too, on this one!  [ This is NOT investment advice, and if you think it is a recommendation to invest in this Loan then there is NO hope for you. ]
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r1200gs
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Post by r1200gs on Aug 7, 2019 12:41:39 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..... A RICS professional? Entirely kosher then, unquestionably reliable and safe at 26% LTV, bet the farm, and yer pension, on this one! [ This is NOT investment advice, and if you think it is a recommendation to invest in this Loan then there is NO hope for you. ] The fact this is just being picked at and is not flying off the shelf in the tens of thousands says somebody smells a rat. The low LTV is tempting, but if this was to sell in a fire sale we all know the money raised will be a fraction of the valuation.
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arby
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Post by arby on Aug 7, 2019 12:55:13 GMT
A RICS professional? Entirely kosher then, unquestionably reliable and safe at 26% LTV, bet the farm, and yer pension, on this one! [ This is NOT investment advice, and if you think it is a recommendation to invest in this Loan then there is NO hope for you. ] The fact this is just being picked at and is not flying off the shelf in the tens of thousands says somebody smells a rat. The low LTV is tempting, but if this was to sell in a fire sale we all know the money raised will be a fraction of the valuation. Alternatively it could indicate that £300k has already been invested, with most of it at a higher interest rate. If you've had your fill of the loan, why would you put more in at a lower rate? An alternative sign of the underlying attraction is that less than £2k of the £200k first loan is up for sale.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Aug 7, 2019 12:56:11 GMT
A RICS professional? Entirely kosher then, unquestionably reliable and safe at 26% LTV, bet the farm, and yer pension, on this one! [ This is NOT investment advice, and if you think it is a recommendation to invest in this Loan then there is NO hope for you. ] The fact this is just being picked at and is not flying off the shelf in the tens of thousands says somebody smells a rat. The low LTV is tempting, but if this was to sell in a fire sale we all know the money raised will be a fraction of the valuation. But it's a " RICS Professional Valuer"!!!!! RICS really do not care about their reputation, nor how they are now perceived, and have been perceived for years. Arrogant and couldn't care less. Says it all doesn't it.
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Post by mrclondon on Aug 7, 2019 13:07:22 GMT
Nothing seems to be as it appears around here, there's always a damned skeleton in the closet somewhere. *Goes off looking for skeletons*….. The fact this is just being picked at and is not flying off the shelf in the tens of thousands says somebody smells a rat. The low LTV is tempting, but if this was to sell in a fire sale we all know the money raised will be a fraction of the valuation. The skeleton may turn out to be the asset class "holiday parks / holiday lodges". I've said a number of times on various loans across multiple platforms, that I don't understand this asset class. That is, how do the borrowers actually make a ROI on an asset (land / lodges) that may only be fully utilised for a few weeks a year. IoW is not an all year round destination.
How many successful p2p loans have there been to this sector ? There was one set of related loans on Lendy that repaid in full (Christchurch nr Bournemouth) beyond that just lots that haven't exactly shined.
(As an aside, I'm looking forward to reading the bond prospectus if it is ever published for the MT loan refinance)
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Post by dan1 on Aug 7, 2019 14:17:08 GMT
Nothing seems to be as it appears around here, there's always a damned skeleton in the closet somewhere. *Goes off looking for skeletons*….. The fact this is just being picked at and is not flying off the shelf in the tens of thousands says somebody smells a rat. The low LTV is tempting, but if this was to sell in a fire sale we all know the money raised will be a fraction of the valuation. The skeleton may turn out to be the asset class "holiday parks / holiday lodges". I've said a number of times on various loans across multiple platforms, that I don't understand this asset class. That is, how do the borrowers actually make a ROI on an asset (land / lodges) that may only be fully utilised for a few weeks a year. IoW is not an all year round destination.
How many successful p2p loans have there been to this sector ? There was one set of related loans on Lendy that repaid in full (Christchurch nr Bournemouth) beyond that just lots that haven't exactly shined.
(As an aside, I'm looking forward to reading the bond prospectus if it is ever published for the MT loan refinance)
I don't think utilisation is as important as you may think for holiday lodges. I assumed that once erected they were sold to private owners and used as de facto second homes and only rented part of the year to pay for site fees, upkeep etc. I suspect most lodges compare favourably with the expense and hassle associated with 'real' second homes and are equally equipped with all services (water+waste, gas, electric, WiFi etc). The current exchange rate is favourable for 'stay-cations' and even climate change appears to be adding a bit of heat to our summers although admittedly at the expense of more rain & flooding.
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rogerthat
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Post by rogerthat on Feb 4, 2020 18:08:06 GMT
Seems 2800319461 IOW was recovered in full today..cant be arsed to work out interest
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Post by fsbloke on Feb 4, 2020 21:40:34 GMT
Rogerthat, you'll be pleased to hear....... enough to keep you going a bit longer in smokes and shades!
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Post by multiaccountmanager on Feb 5, 2020 12:27:42 GMT
It seems to have paid 10% as advertised with no Admin deduction.
That looks like an error on the web site.
In one place it says actual return 10% , in another it says 9.8%
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Brainer
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Post by Brainer on Feb 6, 2020 3:17:36 GMT
It seems to have paid 10% as advertised with no Admin deduction. That looks like an error on the web site. In one place it says actual return 10% , in another it says 9.8% My return was minus 0.125%+VAT as expected for a loan which repaid within its term.
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Post by multiaccountmanager on Feb 6, 2020 8:54:57 GMT
It seems to have paid 10% as advertised with no Admin deduction. That looks like an error on the web site. In one place it says actual return 10% , in another it says 9.8% My return was minus 0.125%+VAT as expected for a loan which repaid within its term. Yes that is correct. For some reason, on the loan page in one place it says the "actual return" is 10% which would be correct if there were no admin fee.
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kielbasa
Member of DD Central
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Post by kielbasa on Feb 6, 2020 17:52:46 GMT
A small bit of good news is always welcome these days. I suspect that they will be few and far between.
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paulb
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Post by paulb on Feb 6, 2020 18:01:53 GMT
Yes that is correct. For some reason, on the loan page in one place it says the "actual return" is 10% which would be correct if there were no admin fee. The actual return is the average over all lenders, so can be increased by bonuses or preferential rates paid to BHs - I wasn't in this one, so can't see if bonuses were offered, but it could explain the difference. Or it could just be rounded up.
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