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Post by mrclondon on Dec 14, 2017 13:33:03 GMT
Second charge loan
Worth noting that the prior 1st charge has increased from the £1.6m of the Nov 16 loan & May 17 renewal to £2.9m on the current Dec 17 renewal. The first charge appears to be a development finance facility that is steadily increasing ....
(Obviously the value of the site has increased as well to keep the declared LTV at <70% )
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rogerthat
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Post by rogerthat on Dec 14, 2017 15:54:01 GMT
Its 14% for a reason and looking at the relevant figures its hardly surprising..."Timeo Danaos et dona ferentes"...handle with care  |
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adrian77
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Post by adrian77 on Dec 14, 2017 17:13:41 GMT
if this is another potential fiasco then 14% is nowhere near enough for me to risk my money - this is not a gift horse "more a disaster waiting to happen"-- OK which clever sod can put that in Latin!
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Post by Badly Drawn Stickman on Dec 14, 2017 17:20:28 GMT
if this is another potential fiasco then 14% is nowhere near enough for me to risk my money - this is not a gift horse "more a disaster waiting to happen"-- OK which clever sod can put that in Latin! Hoc donum non est equus 'magis exspecto a clade factum, ut "- Bene pulmentum ad quem callidus potest non posuit latine It definitely loses something on the way.
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rogerthat
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Post by rogerthat on Dec 14, 2017 17:21:15 GMT
Bl**dy Google  Actually....lol |
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baldpate
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Post by baldpate on Dec 14, 2017 17:58:08 GMT
It is also worth noting that Funding Secure, in two recent updates to the previous loan, make reference to a new valuation: However, there is no sign of this valuation in the new loan - merely a statement that "The overall GDV is now £6.2m, with a current estimated value of £4.9m", with no indication od how these figures are arrived at. Without further explanation from Funding Secure, the only reasonable conclusion is that they obtained a valuation, but it did not support the loan values as presented here. fundingsecure ? - happy for you to explain why I'm wrong. |
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