j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188 
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Post by j on Aug 28, 2014 8:13:45 GMT
Starting @ 1200, today. 60mths, £325k, 11.5% @ 51% ltv
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Post by Ton ⓉⓞⓃ on Aug 28, 2014 9:27:03 GMT
Starting @ 1200, today. 60mths, £325k, 11.5% @ 51% ltv The business being so cash generative why did they use HP? I see the security is split over three classes debtors, machinery and PG's
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Aug 28, 2014 9:43:47 GMT
I had a very quick glance of report. The big decline in t/o over 3 years & dependence on one client for 50% of business is very worrying, despite the explanations given as to why.Will read properly when I get time later today but, nice to see rates creeping up a bit again for an 50% ltv
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Post by Ton ⓉⓞⓃ on Aug 28, 2014 9:57:18 GMT
I need a second read, but I can't see how it's ltv51%. No other debt is mentioned. It's not clear what the interest rate is yet on the proposal.
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Aug 28, 2014 10:06:32 GMT
I need a second read, but I can't see how it's ltv51%. No other debt is mentioned. It's not clear what the interest rate is yet on the proposal. 11.5% paid to us. The report says 13% presumably before AC fees. We did request if AC can be more clear of their fees, maybe this is a first step towards that, or was it a genuine error as Ton ⓉⓞⓃ indicated
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Post by Ton ⓉⓞⓃ on Aug 28, 2014 10:20:07 GMT
I need a second read, but I can't see how it's ltv51%. No other debt is mentioned. It's not clear what the interest rate is yet on the proposal. 11.5% paid to us. The report says 13% presumably before AC fees. We did request if AC can be more clear of their fees, maybe this is a first step towards that, or was it a genuine error as Ton ⓉⓞⓃ indicated Typo now corrected now says 11.5% 13% might well be the true figure to AC Does anyone recognize this as an old TC loan?
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Post by Jack Barlow on Aug 28, 2014 10:28:21 GMT
I can't see how it's ltv51%. From figures in credit report, LTV = 325 / (197 + 340 + 100), where fixed assets of £197K and current assets of £340K are given in Historic accounts table @ 30/6/14, and £100K is the excess equity (secured by a second charge) in two properties owned by one of the directors. The 197 + 340 is broken down as 100 + 437 in the overview web page for the loan, with the £100K being a charge over specific plant/machinery and the £437K being a debenture over the remaining assets.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Aug 28, 2014 11:21:18 GMT
For me this one has got some legs based on my own risk evaluation and rates well against some recent FC offerings. So I will have a little, albeit cautious shadow dabble. However I would have been a bit more adventurous had the rate been another 1% higher but at least it is in double figures.
I just wonder if sentiment is getting the better of me and perhaps I should have eared on the side of caution?
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is
Posts: 108
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Post by is on Aug 28, 2014 12:02:48 GMT
Near full amortisation so security significantly improves with time, from already decent level.
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Post by mogzi on Aug 28, 2014 12:23:18 GMT
More typo's? This point has been raised several times by others on here. Key facts are being mis-stated. Yes AC do have their strengths but these commonly occurring typos are worrying. Who knows if more typo's exist in legal loan documents etc?
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Post by Ton ⓉⓞⓃ on Aug 28, 2014 12:58:06 GMT
More typo's? This point has been raised several times by others on here. Key facts are being mis-stated. Yes AC do have their strengths but these commonly occurring typos are worrying. Who knows if more typo's exist in legal loan documents etc? Clearly that is a concern but it appears that 'boiler plate' or whatever they're doing in legal has worked so far, ie with FF. In other words I'm assuming that all the effort goes into the contracts and those we don't see. Besides it makes me feel important when I find a typo.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 28, 2014 13:37:49 GMT
Is typo's a typo for typos ... or tyepoes .... or tighpoase .... or  |
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Post by mogzi on Aug 28, 2014 15:34:58 GMT
Is typo's a typo for typos ... or tyepoes .... or tighpoase .... or It's an iPhone typo!
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Post by Ton ⓉⓞⓃ on Aug 28, 2014 15:49:47 GMT
Is typo's a typo for typos ... or tyepoes .... or tighpoase .... or It's an iPhone typo! iTypo
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Aug 28, 2014 15:58:29 GMT
I typo, You typo, He/She/It typos.....................
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