ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,334 
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Post by ilmoro on Jun 6, 2016 21:30:13 GMT
Forget 12%, I'd be looking for at least 30% to have a stake in this one. Hopefully the stake wont be necessary, though Romanian immigration numbers are reportedly quite high 
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Post by earthbound on Jun 6, 2016 21:31:22 GMT
This loan deserves to be taken the P**s out of... anyone thinking this a legitimate investment want looking at.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,334
Likes: 11,558
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Post by ilmoro on Jun 6, 2016 21:34:38 GMT
Does seem from the comments already that Saving Stream are going to have to work quite hard to resurrect this one.  |
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Liz
Member of DD Central
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Post by Liz on Jun 6, 2016 21:40:19 GMT
Does seem from the comments already that Saving Stream are going to have to work quite hard to resurrect this one. Maybe SS should stick to development loans, and pure property plays. The minimum SS could tell us , is the purchase price. If they are puttin 30% into the project and only borrowing 70%, then I might be interested. If the borrower is putting in a tiny amount/nothing, then lending to these type of projects is dodgy.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jun 6, 2016 21:47:50 GMT
Does seem from the comments already that Saving Stream are going to have to work quite hard to resurrect this one. Maybe SS should stick to development loans, and pure property plays. The minimum SS could tell us , is the purchase price. If they are puttin 30% into the project and only borrowing 70%, then I might be interested. If the borrower is putting in a tiny amount/nothing, then lending to these type of projects is dodgy. This is something want savingstream to indicate. In the meantime, I'm going to ask them every time a new loan is due to do live (with the purpose of purchasing the security) what the borrower is paying. Let's see if I get a response...
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Liz
Member of DD Central
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Post by Liz on Jun 6, 2016 21:52:16 GMT
Maybe SS should stick to development loans, and pure property plays. The minimum SS could tell us , is the purchase price. If they are puttin 30% into the project and only borrowing 70%, then I might be interested. If the borrower is putting in a tiny amount/nothing, then lending to these type of projects is dodgy. This is something want savingstream to indicate. In the meantime, I'm going to ask them every time a new loan is due to do live (with the purpose of purchasing the security) what the borrower is paying. Let's see if I get a response... I did ask SS once on a thread a while back for more info, like purchase price and was shot down by them and told they lend against value and it bridging funding was as simple as that.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,334
Likes: 11,558
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Post by ilmoro on Jun 6, 2016 21:56:20 GMT
Maybe SS should stick to development loans, and pure property plays. The minimum SS could tell us , is the purchase price. If they are puttin 30% into the project and only borrowing 70%, then I might be interested. If the borrower is putting in a tiny amount/nothing, then lending to these type of projects is dodgy. This is something want savingstream to indicate. In the meantime, I'm going to ask them every time a new loan is due to do live (with the purpose of purchasing the security) what the borrower is paying. Let's see if I get a response... Im sure you will - it will start with a c & end in ality
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Post by fiatlender on Jun 6, 2016 22:07:04 GMT
I had a death in the family a few months ago and have a price list for plots in Southend cemetry, about 20 miles east of Rainham.
Prices are:
Traditional Grave (50 Years Only)
Adult resident £2785.00
Adult Non-resident £4625.00
Stillborn to 16 years £2035.00
Cremated remains
Adult resident £705.00
Adult non-resident £1165.00
Stillborn to 16 years £515.00
Crazy thing is that if you buy the plot and are a non-resident, you pay the higher price, even if the person who died lived in the area.
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Post by earthbound on Jun 6, 2016 22:12:58 GMT
I had a death in the family a few months ago and have a price list for plots in Southend cemetry, about 20 miles east of Rainham. Prices are: Traditional Grave (50 Years Only) Adult resident £2785.00 Adult Non-resident £4625.00 Stillborn to 16 years £2035.00 Cremated remains Adult resident £705.00 Adult non-resident £1165.00 Stillborn to 16 years £515.00 Crazy thing is that if you buy the plot and are a non-resident, you pay the higher price, even if the person who died lived in the area. I intend to be here longer than SS can screw me for a cemetery plot...
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adrianc
Member of DD Central
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Post by adrianc on Jun 6, 2016 22:39:47 GMT
Read the valuation report in full and get towards the end where the valuer gives some comparable evidence of the cost of burial sites that he has found and it is around the £2,000 mark. Not quite that simple... From the link C_D pm'd me (marketing the entire cemetery development), they're selling plots to investors (minimum four) for £2k, with a "value" of £3,750 and a 3-5yr return. So the public price is £3,750, and they're doing some loss-leaders to get money in. Then you need to understand that the plot price is not the only income. Like I said, the plot price for where my in-laws are is about a grand. But to dig the hole and plant them is £2k each. So that £1k plot has £5k revenue. I'm with you on that, but my cultural beliefs and background don't prohibit cremation. Or propping me up for the bin men to take...
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Post by earthbound on Jun 6, 2016 22:44:55 GMT
Or propping me up for the bin men to take... hee hee i like that ..
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Post by earthbound on Jun 6, 2016 22:50:07 GMT
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Post by harvey on Jun 6, 2016 22:51:59 GMT
Read the valuation report in full and get towards the end where the valuer gives some comparable evidence of the cost of burial sites that he has found and it is around the £2,000 mark. Not quite that simple... From the link C_D pm'd me (marketing the entire cemetery development), they're selling plots to investors (minimum four) for £2k, with a "value" of £3,750 and a 3-5yr return. So the public price is £3,750, and they're doing some loss-leaders to get money in. Then you need to understand that the plot price is not the only income. Like I said, the plot price for where my in-laws are is about a grand. But to dig the hole and plant them is £2k each. So that £1k plot has £5k revenue. I'm with you on that, but my cultural beliefs and background don't prohibit cremation. Or propping me up for the bin men to take... Fair comment but I don't understand the bit about them selling plots for 2000 that have a value in inverted commas of 3750. The market value of anything is what someone is prepared to sell it for and someone is prepared to pay for it. It's that Meeting of Minds. If something is being sold for 2000 and people are paying 2000 for it then 2000 is the value, as evidenced by the behaviour of the parties in the market. Anything else is just marketing spin.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,334
Likes: 11,558
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Post by ilmoro on Jun 6, 2016 22:59:46 GMT
Read the valuation report in full and get towards the end where the valuer gives some comparable evidence of the cost of burial sites that he has found and it is around the £2,000 mark. Not quite that simple... From the link C_D pm'd me (marketing the entire cemetery development), they're selling plots to investors (minimum four) for £2k, with a "value" of £3,750 and a 3-5yr return. So the public price is £3,750, and they're doing some loss-leaders to get money in. Then you need to understand that the plot price is not the only income. Like I said, the plot price for where my in-laws are is about a grand. But to dig the hole and plant them is £2k each. So that £1k plot has £5k revenue. I'm with you on that, but my cultural beliefs and background don't prohibit cremation. Or propping me up for the bin men to take... We have absolutely no idea what that £15k covers - service, headstone, tomb, ongoing maintenance etc. Here's a list for a London cemetery www.cityoflondon.gov.uk/things-to-do/green-spaces/cemetery-and-crematorium/about-us/Documents/scale-of-charges-2014-lowres.pdf
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SteveT
Member of DD Central
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Post by SteveT on Jun 7, 2016 8:28:47 GMT
The new Valuers that SS have engaged for the re-valuation are no fools (a leading national firm) so I will reserve judgement until I've read what figure they arrive at and how.
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