star dust
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Post by star dust on Apr 20, 2015 10:30:25 GMT
Just gone up on platform £497k 70% LTV one year term. It's the farm in Wales.
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david42
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Post by david42 on Apr 20, 2015 10:54:23 GMT
Should I be concerned that the valuation is based on having planning permission to build a stable block and Menage, but that planning permission expired in 2013? I don't understand why this inconsistency is not addressed in the valuation.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 20, 2015 11:08:06 GMT
Doesnt seem to be anything more recent on the planning website.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Apr 20, 2015 11:16:40 GMT
I had about £50 in interest that had been sitting for a while & I forgot which I invested & no more. Barring the PP issue highlighted, a forced 90-day sale would theoretically only yield £575k, a whopping 85% ltv. I'm talking myself now into putting that £50 back on SM  |
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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
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Post by ilmoro on Apr 20, 2015 11:32:25 GMT
Ive asked SS for clarification. Could be that theyve started the works which would presumably prevent the permission from expiring. Doesnt help that they have only provided the first page of the consent so there could be relevant info on subsequent pages. Photos are presumably old too as doesnt look very vacant, lots of vehicles & a couple of GGs Will be gone in an hour I reckon  Edit. Well, miles out there, 10min and overfunded. About 7 lenders seem to have stuck a combined 20k in at once in a mad boaty style frenzy  |
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star dust
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Post by star dust on Apr 20, 2015 11:40:21 GMT
It is possible that they commenced some building works within the 5 year time-frame I guess to keep the PP 'alive', also SS state that a new valuation is expected soon, might be interesting to see what that shows, hopefully not just higher valuations! It's not live yet either, and I would hope if there are any issues they would be sorted prior to draw-down. Only 12% left so it doesn't seem to be bothering most. I'm sure your £50 will be snaffled up faster than you put it up j; and at this rate you'll be able to do that later this afternoon . edit : x posted with ilmoro - too busy refreshing site to see how much was left! All gone now!
2nd edit: if there are any issues I hope they're sorted pdq as SS's mini update has this loan going live / drawing down tomorrow. |
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Post by duncandive on Apr 20, 2015 11:48:45 GMT
Well aren't I the SLOW One... Didn't even notice ilmoro and star dust had already spotted it's end.. |
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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
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Post by ilmoro on Apr 20, 2015 13:02:00 GMT
SS have replied to my query as follows 'The original planning was for 3 years but they have commenced work on it so it is still extant.' star dust j david42 |
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Post by jackpease on Apr 20, 2015 14:03:12 GMT
The filling quickly is like the 'good old days' of Assetz which used to be exciting!
Jack P
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star dust
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Post by star dust on Apr 20, 2015 20:50:37 GMT
SS have replied to my query as follows 'The original planning was for 3 years but they have commenced work on it so it is still extant.' star dust j david42Thanks for the update. Looks like we guessed right then!
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awk
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Post by awk on Feb 18, 2016 13:57:03 GMT
In the December update, we were told:-
"The borrower has renewed this loan – all interest and fees have been paid for a further 6 months"
It went live before my time, but this thread talks about a 12 month term from April 2015 (which aligns with the 63 days to go).
So, do we think it has been extended a further 6 months from April (to October 2016), or 6 months from December (to June 2016)?
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Post by dodgeydave on Feb 18, 2016 14:02:56 GMT
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awk
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Post by awk on Feb 18, 2016 14:13:15 GMT
Yes, I have read the ilmoro thread.
From this, SS first started talking about a 6 month extension back in October which made me think it was initially only a 6 month loan.
However, this thread says it was a 12 month initial term - Hence my confusion
I'm trying to decide which of my beloved children (this was one of my first) I will need to kick out of the nest to make room for "the Watfords", once they go live.
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Post by dodgeydave on Feb 18, 2016 14:19:08 GMT
I make it pay back around August this year. But with SS record on repayments that might be 2017  |
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 18, 2016 14:19:14 GMT
Yes, I have read the ilmoro thread. From this, SS first started talking about a 6 month extension back in October which made me think it was initially only a 6 month loan. However, this thread says it was a 12 month initial term - Hence my confusion I'm trying to decide which of my beloved children (this was one of my first) I will need to kick out of the nest to make room for "the Watfords", once they go live. On SS Most recent update (01/02/16), they state that "The borrower has renewed this loan – all interest and fees have been paid for a further 6 months", so it looks like a relatively safe investment to keep (talking solely about the loan term here, not entirely about the risk of the loan) What are your other choices?
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