cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Aug 6, 2016 12:51:25 GMT
Is this getting renewed then? Or extended? I'm confused by the update. Is it still due to pay back soon? Borrower has agreed a sale for £6,000,000. On an option agreement for 12 months. The buyer will pay Saving Stream interest quarterly in advance for up to 12 months. There's some for sale on the SM and dependant on the state I may invest. savingstream can you expand on what is happening here please? I believe (unless savingstream would like to correct me)... Our borrower is going through the legals to sell the land, but not immediately (On an option agreement for 12 months). Once the legal stuff is completed the buyer (not our borrower) will pay Saving Stream interest quarterly in advance for up to 12 months (i.e up to the point the buyer activates the option). The above also applies for PBL055, but it's not clear if the potential buyer is buying both plots of land for £6,000,000, or each plot of land for £6,000,000 (i.e. 12m total). My guess is that £6,000,000 is for both plots of land. For more information read here
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Post by wickedxuk on Aug 6, 2016 14:30:29 GMT
Is this getting renewed then? Or extended? I'm confused by the update. Is it still due to pay back soon? Borrower has agreed a sale for £6,000,000. On an option agreement for 12 months. The buyer will pay Saving Stream interest quarterly in advance for up to 12 months. There's some for sale on the SM and dependant on the state I may invest. savingstream can you expand on what is happening here please? I believe (unless savingstream would like to correct me)... Our borrower is going through the legals to sell the land, but not immediately (On an option agreement for 12 months). Once the legal stuff is completed the buyer (not our borrower) will pay Saving Stream interest quarterly in advance for up to 12 months (i.e up to the point the buyer activates the option). The above also applies for PBL055, but it's not clear if the potential buyer is buying both plots of land for £6,000,000, or each plot of land for £6,000,000 (i.e. 12m total). My guess is that £6,000,000 is for both plots of land. For more information read hereThank you very much @cooling_dude that was an interesting read. So essentially we will get an extra 12 months of interest from the date the option is put in place? Just paid quarterly instead of monthly? And if the option falls through, we will be back with the original borrower for refinance or finding another buyer etc? Thanks again, that was really helpful 🖒
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Aug 6, 2016 14:34:35 GMT
I believe (unless savingstream would like to correct me)... Our borrower is going through the legals to sell the land, but not immediately (On an option agreement for 12 months). Once the legal stuff is completed the buyer (not our borrower) will pay Saving Stream interest quarterly in advance for up to 12 months (i.e up to the point the buyer activates the option). The above also applies for PBL055, but it's not clear if the potential buyer is buying both plots of land for £6,000,000, or each plot of land for £6,000,000 (i.e. 12m total). My guess is that £6,000,000 is for both plots of land. For more information read hereThank you very much @cooling_dude that was an interesting read. So essentially we will get an extra 12 months of interest from the date the option is put in place? Just paid quarterly instead of monthly? And if the option falls through, we will be back with the original borrower for refinance or finding another buyer etc? Thanks again, that was really helpful 🖒 - that won't change on any loans anytime soon! (The exception being a defaulted loan) The buyer will send SS the interest upfront on a rolling (quarterly) basis, and that interest will be release to us investors monthly.
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fp
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Post by fp on Aug 6, 2016 14:58:12 GMT
Is this getting renewed then? Or extended? I'm confused by the update. Is it still due to pay back soon? Borrower has agreed a sale for £6,000,000. On an option agreement for 12 months. The buyer will pay Saving Stream interest quarterly in advance for up to 12 months. There's some for sale on the SM and dependant on the state I may invest. savingstream can you expand on what is happening here please? I believe (unless savingstream would like to correct me)... Our borrower is going through the legals to sell the land, but not immediately (On an option agreement for 12 months). Once the legal stuff is completed the buyer (not our borrower) will pay Saving Stream interest quarterly in advance for up to 12 months (i.e up to the point the buyer activates the option). The above also applies for PBL055, but it's not clear if the potential buyer is buying both plots of land for £6,000,000, or each plot of land for £6,000,000 (i.e. 12m total). My guess is that £6,000,000 is for both plots of land. For more information read hereI would hazard a guess that it is for the pair of plots combined, and not 6,000,000 each plot, with combined "valuations" of just over 7.8 million, this will increase the LTV on these plots combined to about 53%, and its not an actual sale as such, so it could be worth a lot less if/when Brexit actually happens......
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Post by martin44 on Aug 22, 2016 14:49:42 GMT
Sorry to drag this back to the fore, having a little to invest now, this to me looks quite attractive with regards to recent updates and its sat on the SM with 38k available, Someone please tell me if i am missing something.
edit. i have read thro some of the comments above but not sure where this lies. Question... is it worth a punt after now looking like a 12 month loan.
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Liz
Member of DD Central
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Post by Liz on Aug 22, 2016 15:19:24 GMT
Sorry to drag this back to the fore, having a little to invest now, this to me looks quite attractive with regards to recent updates and its sat on the SM with 38k available, Someone please tell me if i am missing something. edit. i have read thro some of the comments above but not sure where this lies. Question... is it worth a punt after now looking like a 12 month loan. A. Updates are sometimes, slightly inaccurate in a minor way, beware. B. "In legals, looking likely to extend formally next week." That doesn't sound like a 12 month loan, it may only be a 2 month extension. The quarterly interest/12 month reference were dropped in the latest update! Still, if you like the security, it may be worth a punt. They could always turn it into a garden centre.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 22, 2016 15:43:09 GMT
Sorry to drag this back to the fore, having a little to invest now, this to me looks quite attractive with regards to recent updates and its sat on the SM with 38k available, Someone please tell me if i am missing something. edit. i have read thro some of the comments above but not sure where this lies. Question... is it worth a punt after now looking like a 12 month loan. A. Updates are sometimes, slightly inaccurate in a minor way, beware. B. "In legals, looking likely to extend formally next week." That doesn't sound like a 12 month loan, it may only be a 2 month extension. The quarterly interest/12 month reference were dropped in the latest update! Still, if you like the security, it may be worth a punt. They could always turn it into a garden centre. Keep in mind the connection with PBL055, and the new Modular Units loan being sought by the same borrower on ABL.
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Post by martin44 on Aug 22, 2016 15:52:19 GMT
Thanks liz and OG... pbl 55 has exactly same update as pbl 57, starting to look a bit murky, not sure now if £6m is for one or both, as pointed out higher up.  back to the SM drawing board. |
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Liz
Member of DD Central
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Post by Liz on Aug 22, 2016 16:01:15 GMT
Thanks liz and OG... pbl 55 has exactly same update as pbl 57, starting to look a bit murky, not sure now if £6m is for one or both, as pointed out higher up. back to the SM drawing board. Stick to the PM, we should have at least 3 new loans by Friday. I am always wary of asymmetric information!
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Post by Deleted on Aug 22, 2016 16:06:52 GMT
if it doesn't feel right walk away.
you shouldn't have to work hard to see a great deal.
if it has question marks about it who will buy it off you?
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Liz
Member of DD Central
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Post by Liz on Aug 22, 2016 16:11:25 GMT
if it doesn't feel right walk away. you shouldn't have to work hard to see a great deal. if it has question marks about it who will buy it off you? The newbies 
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 22, 2016 16:11:26 GMT
Thanks liz and OG... pbl 55 has exactly same update as pbl 57, starting to look a bit murky, not sure now if £6m is for one or both, as pointed out higher up. back to the SM drawing board. It is for both. The information on ABL and SS tallies.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 22, 2016 16:16:59 GMT
Thanks liz and OG... pbl 55 has exactly same update as pbl 57, starting to look a bit murky, not sure now if £6m is for one or both, as pointed out higher up. back to the SM drawing board. Stick to the PM, we should have at least 3 new loans by Friday. I am always wary of asymmetric information! Which of the pipeline loans do you fancy? I'm lukewarm about any of them (lukecold even) except perhaps Wolverhampton, but I'm heavily into that already, and platform risk does come into play.
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Liz
Member of DD Central
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Post by Liz on Aug 22, 2016 17:27:18 GMT
Stick to the PM, we should have at least 3 new loans by Friday. I am always wary of asymmetric information! Which of the pipeline loans do you fancy? I'm lukewarm about any of them (lukecold even) except perhaps Wolverhampton, but I'm heavily into that already, and platform risk does come into play. Sidmouth and Derby look good. I'm not a big fan of Scottish loans, since they could leave the union at any time.
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stokeloans
Member of DD Central
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Post by stokeloans on Aug 22, 2016 17:32:27 GMT
Liz Which of the pipeline loans do you fancy? I'm lukewarm about any of them (lukecold even) except perhaps Wolverhampton, but I'm heavily into that already, and platform risk does come into play. Sidmouth and Derby look good. I'm not a big fan of Scottish loans, since they could leave the union at any time. you missed a wink off there. There's more chance of Elvis walking into my local Tesco,certainly in the short term,the next few years. Just like Brexit any dissolvement would take years
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back to the SM drawing board.
