Essex Bridging Loan

Not all hugely clear to me.

Some queries/concerns:
- big diff (30%) in the 2 valuations made. Either the one last year was well over-rosy (in which case why mention it in the CR?) or something has happened in the commercial space market in the Stansted area this year, or prices/demand for these 2 specific properties (converted barns, could be very nice or could be a tad shabby - hard to tell from the 1 car-park pic) is somewhat lumpy.
- RMV (6 months) from De Villiers is 235k (so LTV 83%..)
- could the Natwest-borrower issue impact on lenders in some way (eg if sale is not made in 6 months, & the loan has to be extended/refinanced)? The CR is not clear on what the dispute between them was about (the 675k mortgage he has? & if so what's it on? or a loan taken on these 2 properties?), so not clear to me what any poss impact could be. Lenders are said to have a 1st charge, which would suggest that either Natwest have waived their charge in our favour (would they really so easily?) or the dispute was on a loan/mortgage on something else. Just guessing, but if it's on the 675k mortgage he has on his home say & he doesn't manage to sell these 2 units in 6 months (possible as we know with BL's in lumpy markets), could the bank conceivably force a quick sale (at a level close to the RMV quoted)?

Am hoping there are no big underlying issues here, but if the CR had been drafted up more clearly twould have been helpful.

Just my tuppence 

batchoy, can you kindly report back here with your findings if you do visit the area?

I also find the £10k difference between the predicted rent (£42k) & actual £32k too wide. There are too many whys & ifs to make this a clear cut BL loan (have we had one yet as most have defaulted). One has the feeling a buyer will not be found within 6 months & problems will arise from then onwards. The only comfort is that AC will retain interest from outset, but then again drawdown time might put another dampener on that

Anybody remember the dim and distant past ? The time when very similiar bridging loans on AC filled in less than 5 minutes. Was that really less than 12 months ago ?

Even before I start the level of DD of the earlier posts, I feel flat.  I have the shadow bid capacity, and indeed a loan in which I had a decent position repaid (early) today.  But somehow the AC "experience" of recent weeks leaves me unenthusiastic.

This one doesn't seem to be flying out the door, so perhaps I am not alone. Some contrast to SS which filled a much larger bridging loan (and one with question marks over the exact security at that) in around 12 hours overnight in the last week.

The most common size of bid I'd guess is about £200. Lenders are having a care bidding.

Went looked, ended up with more questions some which I have asked in the Q&A, though I have to say even with answers this is probably not one for me. 

I note that the stated LTV is 70%, but that is based on the customary marketing period.  With a restricted marketing period of 180 days the valuation is just £235k, and using that value produces a LTV of 83%.  Since this is a six-month loan and exit is via sale of the property, unless the borrower is prepared to sell at a discount to achieve the sale within the term, this looks like a good candidate for a failure to repay within the term.  [Especially as we know this has happened with the borrower's existing loan.]

An LTV of 83% strikes me as getting rather high, but perhaps it shouldn't be concerning since the interest is retained in advance, although it isn't clear to me from the Credit Report whether the retained interest is six months' worth or only enough to cover the minimum loan term of three months..