jnm21
Posts: 441 
Likes: 167
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Post by jnm21 on Aug 17, 2018 17:08:03 GMT
The short nature, low LTV & only 2 weeks to live are all tempting me to this one, though I am reluctant to press the button (having been burnt elsewhere in P2P). Any thoughts on this one? There isn't much info on the borrower, but then again maybe that is good (nothing bad to report).
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rocky1
Member of DD Central
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Post by rocky1 on Aug 17, 2018 18:30:25 GMT
as good as any other loans first charge fair valuations.better than never ending tranches of made up GDVs on bits of land and derilict buildings. invest what you are comfortable with and dont lose any sleep. kuflink will do the rest.
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Post by ajf1985x on Aug 18, 2018 8:18:08 GMT
My rule is that I never invest more than 1% of my savings in one p2p lending opportunity, I then decide to invest either at 0.25,0.5, 0.75 or 1%.
I am investing 1%, I.e. my personal max, for the following reasons:
- existing property (not a development)
- fair(ish) valuation
- good LTV, with enough clear water if the London market goes south
- solid rental market
- acceptable risk:return ratio
- good loan term
- Happy with the platform (at the moment)
- Less rationally, I need somewhere to put the cash!
Hope that helps
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m2btj
Member of DD Central
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Post by m2btj on Aug 19, 2018 15:43:40 GMT
I am concerned by the structural movement in the rear external wall. This could prove to be a problem when seeking a BTL mortgage, as per the exit strategy. It was enough to put me off investing.
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Post by ajf1985x on Aug 20, 2018 7:06:11 GMT
It’s a fair challenge.
My view is that a delay to refinance isn’t the end of the world. As long as there is good security and the make good costs are well below the equity value... any delays lead to increased term/interest, bonus for me.
However you could argue it changes the risk/reward ratio.
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jnm21
Posts: 441
Likes: 167
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Post by jnm21 on Aug 20, 2018 8:05:59 GMT
I am concerned by the structural movement in the rear external wall. This could prove to be a problem when seeking a BTL mortgage, as per the exit strategy. It was enough to put me off investing. I presume that the valuation will have been reduced to take this into account?
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m2btj
Member of DD Central
Posts: 632
Likes: 780
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Post by m2btj on Aug 20, 2018 16:18:45 GMT
I tend not to presume anything in P2P. Maybe a check on Zoopla/Rightmove will give some local sold prices.
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Post by pmjenkins on Aug 20, 2018 16:50:55 GMT
I am concerned by the structural movement in the rear external wall. This could prove to be a problem when seeking a BTL mortgage, as per the exit strategy. It was enough to put me off investing. I presume that the valuation will have been reduced to take this into account? Nope.
The valuation report states "Market Value ... £396,000 (Assuming no structural movement ongoing)"
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jnm21
Posts: 441
Likes: 167
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Post by jnm21 on Aug 20, 2018 20:56:13 GMT
I am concerned by the structural movement in the rear external wall. This could prove to be a problem when seeking a BTL mortgage, as per the exit strategy. It was enough to put me off investing. I presume that the valuation will have been reduced to take this into account? Nope.
The valuation report states "Market Value ... £396,000 (Assuming no structural movement ongoing)" Thank you both so much - at the rate I'll be steering well clear!
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