SteveT
Member of DD Central
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Post by SteveT on Jun 15, 2015 12:19:27 GMT
.... although PBL 37 (a tiddler) is already sold out
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Liz
Member of DD Central
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Post by Liz on Jun 15, 2015 12:20:24 GMT
3 new loans
Going fast.
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Post by mrclondon on Jun 15, 2015 12:33:01 GMT
All from same borrower
037 - land and barns (filled before I had chance to read the docs)
038 - partially refurbished part of hotel
039 - partially refurbished residential home which already looks occupied from the photos. What is missing at a quick glance is confirmation that this is a tenant and not the borrower given SS I belive are not regulated for owner-occupier residential mortgages.
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Post by zzr600 on Jun 15, 2015 12:47:29 GMT
I can't see why 38 and 39 are separate?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jun 15, 2015 12:57:21 GMT
One greedy lender decided to have £100,000 of £151,000. Got pared back to £95k when the loan oversold.
Goes by the name r************n.
I wonder if that is robber_of_loan
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Post by mrclondon on Jun 15, 2015 13:13:39 GMT
I can't see why 38 and 39 are separate? I think SS policy is to list each security that is a separate title at the land registry individually to make the back-end accounting easier once the security is eventually sold or re-financed. [Mod hat on] I've merged the two threads that were started for these 3 loans together.
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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 Jun 15, 2015 13:24:26 GMT
savingstream could do with sorting out the Pending Loans. These three werent mentioned, along with several others that appeared in the latest update, while those that are listed seem to remain unchanged after a month or more. Bit unclear exactly what is & isnt coming to the platform.
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SteveT
Member of DD Central
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Post by SteveT on Jun 15, 2015 13:38:01 GMT
savingstream could do with sorting out the Pending Loans. These three werent mentioned, along with several others that appeared in the latest update, while those that are listed seem to remain unchanged after a month or more. Bit unclear exactly what is & isnt coming to the platform. I assumed they were (collectively) the "Hotel and buildings in Gloucestershire - £3.5m val, £2m loan" referred to in the latest weekly update (June 8th)
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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: 11,330
Likes: 11,549
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Post by ilmoro on Jun 15, 2015 13:43:13 GMT
savingstream could do with sorting out the Pending Loans. These three werent mentioned, along with several others that appeared in the latest update, while those that are listed seem to remain unchanged after a month or more. Bit unclear exactly what is & isnt coming to the platform. I assumed they were (collectively) the "Hotel and buildings in Gloucestershire - £3.5m val, £2m loan" referred to in the latest weekly update (June 8th) I have made the same assumption (and deleted that entry from the update list) but no mention on the site list, nor of Oxford, Bristol or Gosport, and Norfolk & Torquay are on the site but not in the update. Confusing for lenders.
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Post by zzr600 on Jun 15, 2015 13:56:00 GMT
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
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Post by sqh on Jun 15, 2015 14:19:36 GMT
Well spotted. Another P2P valuation that needs explaining.
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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: 11,330
Likes: 11,549
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Post by ilmoro on Jun 15, 2015 14:44:10 GMT
Well spotted. Another P2P valuation that needs explaining. Wasnt sold, at least not at the auction, withdrawn prior. Property prices outside London have increased/refurbishment raised value. Does seem a big jump but they are comparing it to residential properties not businesses.
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Post by zzr600 on Jun 15, 2015 14:46:57 GMT
Jsut to make it easy. PDF attached
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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: 11,330
Likes: 11,549
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Post by ilmoro on Jun 15, 2015 14:50:27 GMT
Jsut to make it easy. PDF attached Cant make link dont work but heres the cut & paste. Do a search for Guest house for the 8th Dec here catalogue.auctions.savills.co.uk/london-national/Previous-Auctions/Monday 08 December 2014 Lot 66 Result: Withdrawn Prior
The G**** H****, C****** L***, etc A large attractive wing of a former Franciscan C****** on a site of approximately 0.24 acres in appealing C******* location – Vacant By Order of Mortgagees Tenure Freehold. Location
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Post by mattie on Jun 15, 2015 14:54:44 GMT
According to the email I received, PBL 37 is for a loan of £151,000 against a property valued at £150,000.
That doesn't seem like a great LTV ratio to me.
Is it like that because it's all the same borrower for all three loans?
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