cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 4, 2016 12:50:52 GMT
The Wales loan just got it valuation report and a picture.... AND.... look at that overview! Well, savingstream ; you’re really showing off  ! I'll go and get my reading glasses......
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 4, 2016 13:20:03 GMT
Some of my observations from my quick read of the Wales Valuation
- Another Valuation that’s not done on behalf of SS, but a different loan company (Amicus)
- SS has used the Market Value, not the valuations 90 marketing period.
I guess the key here is later in the valuation; the valuer states that there is "good demand for this site" which maybe gives SS the opinion that the site would sell at Market Value.
- Outline permission was provided by the council on 2 previous occasions; December 2004 and August 2006.
It would be interesting to try and find out why these two project fell through.
- The site was sold at Auction in April 2015 for £145,000 off a guide price of £125,000.
Wow; how the hell did it go from £145,000 to £2,000,000? I mean the guide price was with assumption that the site was without planning consent, but with the outline permission previously provided, surely it warranted a higher sale price. Sounds like the purchaser got a bargain.
- Under section 18 (VALUATIONS) another valuation where the Number is different to the written amount!!!!!! £2,000,000 (Two Million Two Hundred Thousand Pounds)
My god; don't these people proof read their work. Also when exactly did they change their minds? £2,000,000 throughout the valuation, and I’m sure they didn’t pluck Two Million Two Hundred Thousand Pounds out of thin air. So where did this land loose £200,000 in value!?
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oldgrumpy
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Post by oldgrumpy on Feb 4, 2016 13:40:54 GMT
...pity the valuation document in the overview section is linked to the Peterborough care home. Goes to Ebbw Vale for me now. Oops - see what you mean .... come on SS ... don't sink to Fawlty Cowards standard of office efficiency.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 4, 2016 13:43:21 GMT
...pity the valuation document in the overview section is linked to the Peterborough care home. Yep; I'm sure they will fix it! You can find the correct valuation document under the "VALUATION" column in the Pipleline Loans List
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sam i am
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Post by sam i am on Feb 4, 2016 13:43:51 GMT
What does 'remaining time' mean for pipeline loans? I see 0 days, 12 days, 365 days. Is it the time the borrower expects the loan to run before repayment? If so, 12 days hardly looks worthwhile The "0 days" and "12 days" are typos. Doubtless will be corrected to 365 days at launch. Sorry to be pedantic. It doubtless will be changed to 365 days at launch. But this is not necessarily correct. It seems that all loans have the term set at 365 days even if the actual term is different.
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registerme
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Post by registerme on Feb 4, 2016 13:57:41 GMT
Re Ebbw Vale, it had £2.5m worth of clean up work done on it, was then sold for £145k, and is now worth £2m? If that's correct a) somebody lost a packet on it and b) somebody trousered a packet on it.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 4, 2016 14:09:27 GMT
Re Ebbw Vale, it had £2.5m worth of clean up work done on it, was then sold for £145k, and is now worth £2m? If that's correct a) somebody lost a packet on it and b) somebody trousered a packet on it. I noticed this when I was doing my summery above. It does say that the "guide price was with assumption that the site was without planning consent", however £145k seems so cheap considering outline permission was previously provided. It certainly needs looking at. Maybe it’s something to do with the land being on top of former mining activities.
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Post by ladywhitenap on Feb 4, 2016 14:13:50 GMT
I see that Comet are amongst the likely retailers for the Welsh site according the exec summary. Are these the Comet Stores that went out of business in Dec 2012 by any chance?
LW
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 4, 2016 15:09:59 GMT
It's really good to see some activity on the Pipeline Loans today; all the Bedfordshire loans have now moved to stage 2, and now have a decent overview page.
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oldgrumpy
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Post by oldgrumpy on Feb 4, 2016 15:26:12 GMT
It's really good to see some activity on the Pipeline Loans today; all the Bedfordshire loans have now moved to stage 2, and now have a decent overview page. Great. Only c30 miles out with the original picture (near Ivinghoe) still attached. Good game though, while it lasted.  Here's a proper picture by David Kemp: creativecommons.org/licenses/by-sa/2.0/ Attachments:
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 4, 2016 16:48:37 GMT
Another new pipeline loan with a valuation document (New Build Surry)..... My aren’t we are being spoilt today!
Shame the overview is bare, but the valuation document will be a nice read.....
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 4, 2016 17:04:49 GMT
Some of my observations from my quick read of the New Build Surry Valuation
- A Valuation that’s actually done on behalf of Lendy Limited (at last!)
- SS has used the Market Value & 180 day marketing period for LTV (£4,250,000), not the valuations 90 marketing period (£3,750,000).
Once again SS is using the best case scenario. However with the valuation report giving the same valuation for a 180 day as the marketing value, I would guess they are confident the property would sell fairly easily.
- The property is in a flood risk area, and the valuer recommendeds getting further information in regards to this
With the current lack of information from SS about what the loan is to be used for, this may or may not be importent to follow up on
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noh
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Post by noh on Feb 4, 2016 17:38:23 GMT
It's really good to see some activity on the Pipeline Loans today; all the Bedfordshire loans have now moved to stage 2, and now have a decent overview page. Great. Only c30 miles out with the original picture (near Ivinghoe) still attached. Good game though, while it lasted. Here's a proper picture by David Kemp: creativecommons.org/licenses/by-sa/2.0/ Plenty more pictures and info on Rigtmove where the farm is listed for sale
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ablender
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Post by ablender on Feb 4, 2016 18:51:44 GMT
I have a problem with the Leatherhead property. When I put the address in google maps it is showing me a corner in high street. I know that place and it does not look like the picture. Also I cannot see how it can be at risk of flooding as mentioned in a previous post.
Edit: using just leathered and the postcode, google maps shows a different place. Still I cannot understand how using the whole address as given takes you to town centre.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 4, 2016 18:57:45 GMT
I have a problem with the Leatherhead property. When I put the address in google maps it is showing me a corner in high street. I know that place and it does not look like the picture. Also I cannot see how it can be at risk of flooding as mentioned in a previous post. Take the postcode from the valuation report, and you will see it. Unfortunately google street view hasn’t reached that road so I can’t see the property online. However judging from the location of the river and the property being on the hill side, I honestly can't see any possible problem with flooding.
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