rogerthat
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Post by rogerthat on Mar 31, 2018 17:21:54 GMT
We will be posting a new loan at 11 am on Monday 2nd April Loan secured by a first legal charge against a property in Weston Rhyn Loan Amount: £283,500 (Renewal) Interest: 12% LTV: 67.1% No restriction More infoFundingSecure Your link to view the updated photos doesn't work
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Post by dan1 on Mar 31, 2018 17:28:21 GMT
We will be posting a new loan at 11 am on Monday 2nd April Loan secured by a first legal charge against a property in Weston Rhyn Loan Amount: £283,500 (Renewal) Interest: 12% LTV: 67.1% No restriction More infoFundingSecure Your link to view the updated photos doesn't work Works for me, try this direct link: www.fundingsecure.com/uploads/docs/2018/03/updated-pics.pdf
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rogerthat
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Post by rogerthat on Mar 31, 2018 17:30:41 GMT
Erm..the comment wasn't about the Italian Library...it was about the Weston Rhyn renewal on 2/04/2108 @ 11am...the link included to view the updated photos doesn't work
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Post by dan1 on Mar 31, 2018 17:33:27 GMT
Erm..the comment wasn't about the Italian Library...it was about the Weston Rhyn renewal on 2/04/2108 @ 11am...the link included to view the updated photos doesn't work  - thought it was the last email received from FS didn't I? Can anyone point me in the direction of the thread it should be attached to? Please? I'm looking rather like an idiot here  Edit: gave up and created a new thread
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rogerthat
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Post by rogerthat on Mar 31, 2018 17:39:08 GMT
Erm..the comment wasn't about the Italian Library...it was about the Weston Rhyn renewal on 2/04/2108 @ 11am...the link included to view the updated photos doesn't work - thought it was the last email received from FS didn't I? Can anyone point me in the direction of the thread it should be attached to? Please? I'm looking rather like an idiot here Whateva you're smoking its Grade A...its a renewal of 4166226739 with 3064708036...on Monday (that's next Monday !)
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trium
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Post by trium on Apr 6, 2018 2:47:57 GMT
Hope no-one minds me asking but I'm still figuring out how things work around here. I bought this on the PM Thursday and I find it's already for sale on the SM. Most sellers are at 1% premium but two four-figure wads are up at -1%. I'm guessing that those who have it up for +1% are just hoping for a bite and a quick profit, but I'm puzzled as to the motive of those selling at a discount within a day or two of buying.
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adrian77
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Post by adrian77 on Apr 6, 2018 6:06:02 GMT
Interesting question as to why this latest loan was already on the SM
loan value £1,265,000.00
Granted they are now building bigger houses and garages but what if the market cools...
£1350K - £1265K = £85K and there is still a massive amount of building work to do so if I had bought this loan I would have it on the SM!
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Liz
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Post by Liz on Apr 6, 2018 6:44:20 GMT
Interesting question as to why this latest loan was already on the SM loan value £1,265,000.00 Granted they are now building bigger houses and garages but what if the market cools... £1350K - £1265K = £85K and there is still a massive amount of building work to do so if I had bought this loan I would have it on the SM! I'm sure this was a rollover, so I'm guessing someone didn't want to rollover, forgot to uncheck rollover box and needs the cash. Someone will probably pick up the discounted loans today. Interesting few days ahead on PM and SM.
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lobster
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Post by lobster on Apr 6, 2018 9:45:22 GMT
Well the next tranche will be released imminently - in about 15 minutes time as I write !!
Looking tempting because the GDV is now allegedly in excess on 2m because of the improved specs to the houses including separate garages.
As has been mentioned also bits of previous tranches available at 1% discount.
Would appear to be better value than most FS offering nowadays
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lobster
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Post by lobster on Apr 6, 2018 10:10:46 GMT
Interesting question as to why this latest loan was already on the SM loan value £1,265,000.00 Granted they are now building bigger houses and garages but what if the market cools... £1350K - £1265K = £85K and there is still a massive amount of building work to do so if I had bought this loan I would have it on the SM! - not clear what you're saying here ? The total loan facility will be 945k. So if we take a GDV of 1350k that gives an LTV of 70% However, FS are now saying that the GDV with the improved specs is in excess on 2m , resulting in an LTV well below 50% . So to my mind the only issue is whether or not the 2m "valuation" is reliable ??
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adrian77
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Post by adrian77 on Apr 6, 2018 10:40:49 GMT
fair point - I have checked the loan page I looked at and it does not mention £2m but says £1350K and expected to rise. There seems to be a lot more work to do so maybe cashflow will be a problem. After Knaresborugh etc I am being very careful - not least as Neath was defaulted yesterday and is my first default although I would expect a good recovery...
I agree this one does not seem too much of a risk but I am passing on it - interesting one to follow.
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pier2pier
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Post by pier2pier on Apr 30, 2018 12:07:28 GMT
had a little nibble at this  must b the sunshine making me feelgood some interesting updates on a few "unredeemed" went up in the last hour  |
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pier2pier
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Post by pier2pier on Apr 30, 2018 12:07:59 GMT
dont no wot appened to smileys in previous post
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rogerthat
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Post by rogerthat on Apr 30, 2018 12:10:51 GMT
had a little nibble at this must b the sunshine making me feelgood some interesting updates on a few "unredeemed" went up in the last hour Ive been nibbling on this from the start..and today was no exception  ..now that disappeared in a flash..unlike a certain Herts property Edit...no guarantees naturally ..but best price on SM currently 12.18%..an indication of confidence perhaps ?
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Post by brummiefred on Apr 30, 2018 15:21:06 GMT
I shall be passing by this site after golf on Wednesday and will post a progress report/photo
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- thought it was the last email received from FS didn't I?
must b the sunshine making me feelgood 
..now that disappeared in a flash..unlike a certain Herts property