ali
Member of DD Central
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Post by ali on Aug 30, 2016 16:56:55 GMT
Bramley, Surrey - property was marketed at £800k, bought for £1065k as investment. Valuation £970k,loan £679k. I would treat it like 85% LTV. (679/800) Why? It was marketed at £800K, yes. But that could mean: a) the estate agent undervalued it, b) it was marketed at a level intended to garner lots of interest, or c) the seller needed the money fast. The fact is it was sold for £1m+ and it is reported that there were a number of £1m+ offers. I see no reason to doubt the £970K valuation.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Aug 30, 2016 17:07:14 GMT
Bramley, Surrey - property was marketed at £800k, bought for £1065k as investment. Valuation £970k,loan £679k. I would treat it like 85% LTV. (679/800) Why? It was marketed at £800K, yes. But that could mean: a) the estate agent undervalued it, b) it was marketed at a level intended to garner lots of interest, or c) the seller needed the money fast. The fact is it was sold for £1m+ and it is reported that there were a number of £1m+ offers. I see no reason to doubt the £970K valuation. The best indication of a properties value is how much somebody is actually willing to pay for it. However, the best way to invest is to seek the worst case scenario. I disagree that we should use the £800K figure because the property was obviously undervalued. The VR, even taking into account the sale price, has a 90day Market value @ £850,000, which would provide an LTV of 80%, and that is the figure I will use when deciding whether to invest and how much to invest. However, I like the look of this loan. A very good exit plan, solid PP (pending) and the security looks sound.
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Post by buttchopf23 on Aug 30, 2016 19:10:41 GMT
I agree with your view, nicely laid out, thanks.
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ali
Member of DD Central
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Post by ali on Aug 30, 2016 20:08:49 GMT
However, I like the look of this loan. A very good exit plan, solid PP (pending) and the security looks sound. I agree. My slight concern is that the value would drop significantly if PP was refused. I think that's unlikely, even with 4 objections, given that it's in a residential area. I note that the target date for a decision is Thursday so we may well know the outcome before the loan goes live anyway in which case the security looks very strong.
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adrianc
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Post by adrianc on Aug 31, 2016 15:24:27 GMT
cooling_dude is going to be a busy man - time to stock up on Courvoisier... (or Tesco own-brand) I don't think £1.92 will go far in Kensington, though. Five minutes parking?
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jmr
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Post by jmr on Sept 2, 2016 12:47:19 GMT
New pipeline loan appeared (M**** Q***, Hull) "This loan is likely to go live during the week of the 5th of September".
And PBL129 won't be going live today.
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Post by geraldine1210 on Sept 2, 2016 12:54:17 GMT
New pipeline loan appeared (M**** Q***, Hull) "This loan is likely to go live during the week of the 5th of September". And PBL129 won't be going live today. Have ssaic that about 129?
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jmr
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Post by jmr on Sept 2, 2016 12:56:11 GMT
New pipeline loan appeared (M**** Q***, Hull) "This loan is likely to go live during the week of the 5th of September". And PBL129 won't be going live today. Have ssaic that about 129? Recent updates tab
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Post by geraldine1210 on Sept 2, 2016 12:58:08 GMT
Have ssaic that about 129? Recent updates tab Thanks. Hadn't seen that.
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Post by martin44 on Sept 2, 2016 13:37:57 GMT
And the cynic in me asks "why delayed"  |
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ali
Member of DD Central
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Post by ali on Sept 2, 2016 13:44:52 GMT
And the cynic in me asks "why delayed" Planning permission? Still showing as pending on Waverley council's website.
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Post by martin44 on Sept 2, 2016 15:15:46 GMT
And the cynic in me asks "why delayed" Planning permission? Still showing as pending on Waverley council's website. Thanks.
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Post by moonshine on Sept 2, 2016 16:49:47 GMT
Umm, amongst all the excitement for the new Hull loan, anyone notice the Arboretum has suddenly dropped to 5% LTV and only 600k available (from 6m)?? Is that a mistake?
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Post by retired2005 on Sept 2, 2016 16:55:28 GMT
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mikeh
Member of DD Central
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Post by mikeh on Sept 2, 2016 17:01:02 GMT
I think that is the value of the first release.
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