kermie
Member of DD Central
Posts: 691 
Likes: 462
|
Post by kermie on Jul 22, 2016 7:56:04 GMT
Pipeline now only contains the DFL Aboretum. The other one pulled?
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Jul 22, 2016 8:20:37 GMT
Pipeline now only contains the DFL Aboretum. The other one pulled? The other one was pulled yesterday, see here onwards. Peer pressure it would appear  .
|
|
pom
Member of DD Central
Posts: 1,922 
Likes: 1,244
|
Post by pom on Jul 22, 2016 8:23:13 GMT
Would seem so - and as we're now into the summer silly season I wouldn't be surprised if it's quite a while before anything new appears.
Edit - actually this was in response to kermie rather than star dust... whilst it might be nice to think we have that much influence I suspect it was probably just one of many factors
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Jul 22, 2016 9:23:42 GMT
Edit - actually this was in response to kermie rather than star dust... whilst it might be nice to think we have that much influence I suspect it was probably just one of many factors I wouldn’t be surprised if there were other factors at play, but I certainly wouldn’t underestimate the effect of the ‘crowd’ which I would be pretty sure has played a part in this case. SS has admitted that it pulled another loan – PBL 083, at least in part due to investor’s reactions; as they said at the time “...we still feel that this loan was fine, but when feedback is so asymmetrically negative we need to consider reputational risk over the need to provide deal flow.” I think you would find that a number of platforms take a great deal of notice of what is said here, both good and bad, after all they need the ‘peer’ investors’ cash to survive.
|
|
awk
Posts: 276
Likes: 147
|
Post by awk on Jul 22, 2016 11:33:58 GMT
New pipeline loan - straight in at stage 3
|
|
|
|
Post by geraldine1210 on Jul 22, 2016 11:52:12 GMT
New pipeline loan - straight in at stage 3 It says borrower is in the music business. The person requesting valuation was director of a record company. This company was dissolved after one year. Cleverer people than me will be able to sort the wheat from the chaff, but it didn't seem quite right to me. Happy to be corrected
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Jul 22, 2016 11:58:17 GMT
New pipeline loan - straight in at stage 3 It says borrower is in the music business. The person requesting valuation was director of a record company. This company was dissolved after one year. Cleverer people than me will be able to sort the wheat from the chaff, but it didn't seem quite right to me. Happy to be corrected Background of borrower is useful context but it is the security that is most important. I will trawl the valuation to see if it all adds up.
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Jul 22, 2016 12:11:56 GMT
Just found it on Wrong direction, sold for 1.8m STC so LTV figures would appear to tally up in this instance.
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Jul 22, 2016 12:13:22 GMT
For that same postcode on Rightmove, there is a very nice 7 bedroom house with 1.7 acres for sale for £1.6 million. By comparison, the subject property is £1.78 million for 4/5 bedroom and no land. Obviously not directly comparable as the subject property is much more modern but if I were in the market for that type of house in that area, then the subject property looks a bit pricey by comparison.
|
|
|
|
Post by penguin on Jul 22, 2016 12:15:02 GMT
Developer acquired in July 2014 for £325k. Source - usual website
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Jul 22, 2016 12:15:03 GMT
Just found it on Wrong direction, sold for 1.8m STC so LTV figures would appear to tally up in this instance. Isn't that our borrowers purchase? i.e. They are using our money to fund that purchase.
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Jul 22, 2016 12:16:29 GMT
Developer acquired in July 2014 for £325k. Source - usual website On Rightmove sold prices you can see the old photos and it has been extensively renovated so I'm not sure that price paid figure is that useful. I prefer to compare to what is available today from competing properties.
|
|
|
|
Post by penguin on Jul 22, 2016 12:19:25 GMT
Indeed, but implies a hefty developer profit, which more cautious buyers than our borrower may not wish to provide ?
|
|
jcb208
Member of DD Central
Posts: 838
Likes: 638
|
Post by jcb208 on Jul 22, 2016 12:20:35 GMT
Looks pretty good security to me when compared to what else is available within the postcode area.
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Jul 22, 2016 12:34:26 GMT
At least this one is residential property. We may have differing views with the valuation but I think we'll be closer than with a field or a hole in the ground. And if it does all go pear-shaped the there's likely to be better sale prospects than with fields and holes.
|
|
.
