shimself
Member of DD Central
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Post by shimself on May 9, 2018 15:16:40 GMT
The Credit Report is not the usual AC somewhat flat in tone, instead it's telling us (selling to us) what a particularly good loan and borrower this is. It reads more like the sponsor reports one used to see on ReBS or TC.
Also a bit of a put off is the valuer is from Manchester, the property is 150 miles away, so there's naff all local knowledge.
And yet and yet 33% LTV
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dc848
Posts: 150
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Post by dc848 on May 9, 2018 15:29:59 GMT
What is "skeggy"? Never heard this term before.
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shimself
Member of DD Central
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Post by shimself on May 9, 2018 15:55:33 GMT
What is "skeggy"? Never heard this term before. If I told you I'd have to shoot myself. SK******
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agent69
Member of DD Central
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Post by agent69 on May 9, 2018 17:56:59 GMT
What is "skeggy"? Never heard this term before. When I worked in the midlands back in the late 70's half the local population went to Butlins in Skeggy for their summer holidays.
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Post by GSV3MIaC on May 9, 2018 19:47:25 GMT
I don't think 'Skegness' is going to get anyone to a borrower or asset in a big rush!
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happy
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Post by happy on May 9, 2018 21:42:36 GMT
What is "skeggy"? Never heard this term before. When I worked in the midlands back in the late 70's half the local population went to Butlins in Skeggy for their summer holidays. I'm just reminiscing what working in the 70's was like. All seemed a lot simpler in those days i feel.......
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Post by Badly Drawn Stickman on May 9, 2018 22:08:56 GMT
When I worked in the midlands back in the late 70's half the local population went to Butlins in Skeggy for their summer holidays. I'm just reminiscing what working in the 70's was like. All seemed a lot simpler in those days i feel....... True, all Midlanders would wait outside the Workingmens Clubs for the Charabanc to take them to bracing Skegness. Southeners would be busy sowing shiny buttons onto suits and feasting on jellied eels. Upp North, much blunt talking and allotment growing of rhubarb took place. The Welsh wore strange costumes and made wooden love spoons (and insisted on gabbing away in a totally defunct language). The Irish were busy getting drunk and starting fights (the kind later made popular in cowboy movies, where nobody ever really got hurt). The Scottish wearing skirts would carefully guard their pennies in their woolly purses, hung over their... err belts. Oddly I firmly believe there is merit in stereotyping, did make life simpler.
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Post by danielbird193 on May 10, 2018 9:17:40 GMT
The GVA valuation is based on the valuer's assessment of the 'fair maintainable operating profit' including the two units which haven't even opened yet. There is a huge degree of subjectivity and uncertainty in this type of valuation, as even the valuer acknowledges. Page 43 states that "We would caution therefore that the market value will be very sensitive to change as the sentiment within the licensed trade sector and perceptions of potential operators regarding the trading potential of the subject property... Therefore the market value may appear volatile depending on the trading potential...". I think it would be prudent to apply a significant discount to the valuer's assessment of market value to reflect this uncertainty! That said, the Tripadvisor reviews of both the chippy and TS's hotel are very good (in fact the fish and chips look delicious). He has a good track record and has honoured the terms of other loans with AC so it may be worth a punt...
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crapo
Posts: 40
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Post by crapo on May 10, 2018 9:32:47 GMT
What is "skeggy"? Never heard this term before. When I worked in the midlands back in the late 70's half the local population went to Butlins in Skeggy for their summer holidays. My family are from the Nottinghamshire area and they all went (and some still do!) to Mablethorpe...
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shimself
Member of DD Central
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Post by shimself on May 10, 2018 9:56:54 GMT
I don't think 'Skegness' is going to get anyone to a borrower or asset in a big rush! Living dangerously. Quis custodiet?
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