lobster
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Post by lobster on Sept 7, 2019 7:15:47 GMT
This loan has just come on with BC, and there is availability right now. According to the website the open market value of this property is £4.0m , but the valuation report puts the value at only £3.85m ?? So because of this , BC are therefore quoting the LTV incorrectly ? Have I understood this correctly ? Thanks
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Greenwood2
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Post by Greenwood2 on Sept 7, 2019 9:48:23 GMT
This loan has just come on with BC, and there is availability right now. According to the website the open market value of this property is £4.0m , but the valuation report puts the value at only £3.85m ?? So because of this , BC are therefore quoting the LTV incorrectly ? Have I understood this correctly ? Thanks The LTV is very low anyway, by my calcs the 'error' changes it from 22.5% to 23.4% not very significant. But yes it does seem to be slightly wrong. Rounding??
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michaelc
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Post by michaelc on Sept 7, 2019 17:32:44 GMT
As know LTV is only relevant if both L and V are accurate. L is know. V is often lower than quoted on many platforms.
I've no idea about this particular loan though.
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Greenwood2
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Post by Greenwood2 on Sept 9, 2019 10:06:13 GMT
Has now been changed in line with the valuation report.
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lobster
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Post by lobster on Sept 9, 2019 17:53:52 GMT
There was 20k of availability earlier today, but strangely this figure has now jumped to 40k. I would have thought that this loan would have flown off the shelf with such a low LTV.
I quite fancy this loan but for some reason am hesitant to pull the trigger.
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iRobot
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Post by iRobot on Sept 9, 2019 18:03:41 GMT
There was 20k of availability earlier today, but strangely this figure has now jumped to 40k. I would have thought that this loan would have flown off the shelf with such a low LTV. I quite fancy this loan but for some reason am hesitant to pull the trigger. I don't think it's that unusual occurrence as (historically) 'auto-investors' contact BC to cancel their allocation and (more recently) one or two of the 'invest-now-pay-later' brigade get cold feet between bidding and transferring funds. The LTV is very low, but I'm not feeling it for this one. And the Edgbaston update has done nothing to appease my concerns over lending against larger, more-niche properties; even if it is on BC. (TBC, not criticising BC over Edgbaston, it's just a constant reminder of how problematic problem-loans / slimy-borrowers can be.)
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Greenwood2
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Post by Greenwood2 on Sept 9, 2019 19:52:36 GMT
There was 20k of availability earlier today, but strangely this figure has now jumped to 40k. I would have thought that this loan would have flown off the shelf with such a low LTV. I quite fancy this loan but for some reason am hesitant to pull the trigger. I don't think it's that unusual occurrence as (historically) 'auto-investors' contact BC to cancel their allocation and (more recently) one or two of the 'invest-now-pay-later' brigade get cold feet between bidding and transferring funds. The LTV is very low, but I'm not feeling it for this one. And the Edgbaston update has done nothing to appease my concerns over lending against larger, more-niche properties; even if it is on BC. (TBC, not criticising BC over Edgbaston, it's just a constant reminder of how problematic problem-loans / slimy-borrowers can be.) BC plus very low LTV seems pretty OK to me. I have a couple of slime bag loans on BC but they keep going after them, however devious the borrowers try to be, unlike some platforms.
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