blender
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Post by blender on Mar 22, 2018 14:59:07 GMT
Just starting a new thread for this loan.
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nyneil
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Post by nyneil on Mar 22, 2018 15:25:31 GMT
The And**w Fo***n / Cat***s empire seems to be a complex web of interlinked companies and loans. The cross corporate guarantee and personal guarantee, appear in all? the loans so is this just an illusion of security? Is this a 'house of cards' situation where one failure could cause an avalanche? I hope not as i am already invested in several of the loans.
What are other people's views on this?
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nyneil
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Post by nyneil on Mar 22, 2018 15:29:04 GMT
I'm also curious as to why a successful 'high net worth' individual chooses to be funded by relatively high interest rate P2P loans, rather than lower cost mainstream finance. I'm sure there is a good reason why, but i thought it was usually when the 'new' company had not yet traded for long enough to obtain mainstream finance.
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macq
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Post by macq on Mar 22, 2018 15:50:04 GMT
looking at the company on CH it would seem there is also mainstream finance as well
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Post by Deleted on Mar 22, 2018 16:20:52 GMT
1) No planning permission required? Does 28 days rule not work in Hull?
2) Value of these holiday homes? £225k does seem like a lot of money for a wooden bungalow.
3) Icecream shed. Well there is a shed, a till, some cutlery and a fridge. (google search "commercial icecream maker" tops out at £7k and £2k ones are available).
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gibmike
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What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Mar 22, 2018 16:47:10 GMT
Reading the docs, is my math wrong:
£750k loan
£970k market value
LTV = 80.65% and not 75%
Figures based on page 4
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gibmike
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What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Mar 22, 2018 16:50:21 GMT
Borrowing is up to £725k which does work out at 74.5% LTV but the loan is listed at £750k not £725k.
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jontyab
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Post by jontyab on Mar 22, 2018 16:58:30 GMT
If so, the loan amount was since corrected on the website to £725,000.00
Tweaks like this are not uncommon on ABL and this serves as a reminder that the pre-live grace period on loans is particularly important.
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Post by richardb67 on Mar 22, 2018 17:00:18 GMT
2) Value of these holiday homes? £225k does seem like a lot of money for a wooden bungalow. I thought the same thing, especially when the pub which has been refurbished and is a reasonable size is valued at £450k
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kaya
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Post by kaya on Mar 22, 2018 17:02:26 GMT
The And**w Fo***n / Cat***s empire seems to be a complex web of interlinked companies and loans. The cross corporate guarantee and personal guarantee, appear in all? the loans so is this just an illusion of security? Is this a 'house of cards' situation where one failure could cause an avalanche? I hope not as i am already invested in several of the loans. What are other people's views on this? Well of course it is risky nyneil Should the A.F. empire ever shake, crumble, and fall, it could even take down the whole platform. Enjoy your investing!
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Post by ablrate on Mar 22, 2018 17:05:56 GMT
Reading the docs, is my math wrong: £750k loan £970k market value LTV = 80.65% and not 75% Figures based on page 4 Can you let us know where it says £750k in the docs?
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lucky
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Post by lucky on Mar 22, 2018 17:48:16 GMT
The And**w Fo***n / Cat***s empire seems to be a complex web of interlinked companies and loans. The cross corporate guarantee and personal guarantee, appear in all? the loans so is this just an illusion of security? Is this a 'house of cards' situation where one failure could cause an avalanche? I hope not as i am already invested in several of the loans. What are other people's views on this? Well of course it is risky nyneil Should the A.F. empire ever shake, crumble, and fall, it could even take down the whole platform. Enjoy your investing! Quite complex indeed, F***man Pr****ties Ltd has 27 charges listed, 11 satisfied, 16 outstanding, An****w F****an has held 49 appointments in various companies over the years.
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eeyore
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Post by eeyore on Mar 22, 2018 19:06:40 GMT
2) Value of these holiday homes? £225k does seem like a lot of money for a wooden bungalow. Anyone have an opinion on the effective life of these lodges? If the valuer has given the two "new" lodges in storage a value of £225k/lodge, what's a new one actually cost? The ones in storage are now secondhand so the resale price given by the valuer would be lower than a brand new one. If they predict a rental income of £25k pa for each lodge (page 12 of the proposal), each lodge needs to last at least nine years just to break-even on the acquisition cost alone. (And £500pw rental income for 50 weeks/year for nine years?)
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rgog
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Post by rgog on Mar 22, 2018 19:47:44 GMT
Holiday lets? £500 per? 52 weeks a year? Fat chance, you are lucky to fill all the holiday season, and that is only about 6 months if you are lucky.
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hazellend
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Post by hazellend on Mar 22, 2018 19:56:17 GMT
Holiday lets? £500 per? 52 weeks a year? Fat chance, you are lucky to fill all the holiday season, and that is only about 6 months if you are lucky. Try getting a desirable holiday let in peak season for 500. More like 1 - 2k per week and they are always hard to get unless you book far in advance. Might pay 300 - 400 off season if they have a hot tub and are luxury
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