bugs4me
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Post by bugs4me on Jan 23, 2015 17:41:43 GMT
Still struggling with the idea of a luxury yacht at £22k with its rubbing wood taken off. Not so sure about property, I'll dable but I don't want much in a pawn-broker  Whatever you're comfortable with. I'm struggling with the Porsche valuation on the loan going live tomorrow. Will give that one a miss.
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mikes1531
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Post by mikes1531 on Jan 23, 2015 19:12:50 GMT
Still struggling with the idea of a luxury yacht at £22k with its rubbing wood taken off. I'm struggling with the Porsche valuation on the loan going live tomorrow. Will give that one a miss. : How much do you think the Porsche might be worth? The LTV of the loan on the given numbers is 55%. The valuation could be nearly £5k less before the LTV would exceed 70%. Might the car be overvalued by as much as that?
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 23, 2015 19:30:23 GMT
I'm struggling with the Porsche valuation on the loan going live tomorrow. Will give that one a miss. : How much do you think the Porsche might be worth? The LTV of the loan on the given numbers is 55%. The valuation could be nearly £5k less before the LTV would exceed 70%. Might the car be overvalued by as much as that? I must admit I thought the valuation was a tad rich. I have owned Porsches in the past and I was reckoning on more like 18k-19k which would keep LTV below 70%. I think I might put something on it if I'm around to see how it turns out, but not the full whack.
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mikes1531
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Post by mikes1531 on Jan 23, 2015 19:53:48 GMT
bugs4me: How much do you think the Porsche might be worth? The LTV of the loan on the given numbers is 55%. The valuation could be nearly £5k less before the LTV would exceed 70%. Might the car be overvalued by as much as that? I must admit I thought the valuation was a tad rich. I have owned Porsches in the past and I was reckoning on more like 18k-19k which would keep LTV below 70%. I think I might put something on it if I'm around to see how it turns out, but not the full whack. I did a bit of digging on the internet and came up with www.hagerty.com/valuationtools/HVT/VehicleSearch/Report?vbe=61744. The good news is that it would support a 22k valuation. The bad news is that it's an American website, so the 22k is in Dollars!  Based on the way today's £10k loan on a yacht valued at £22k was funded fully within a couple of hours, I'd expect the Porsche loan to be funded similarly quickly. Investors no doubt are relying on fundingsecure to get the valuations right. I sure hope they do, or are willing to forgo some of their fees if the loan defaults and the sale proceeds turn out to be less than needed to pay lenders what they are owed. So far FS have been, so there's nothing to complain about.
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bugs4me
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Post by bugs4me on Jan 23, 2015 21:08:51 GMT
I'm struggling with the Porsche valuation on the loan going live tomorrow. Will give that one a miss. : How much do you think the Porsche might be worth? The LTV of the loan on the given numbers is 55%. The valuation could be nearly £5k less before the LTV would exceed 70%. Might the car be overvalued by as much as that? No idea of an exact valuation but there do appear to be plenty of later model Carrera 4's available for far less money with lower mileage and they are unmarked. But then again, maybe that's a retail valuation - I certainly wouldn't have thought it would be an auction price IMO.
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