paulg
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Post by paulg on Nov 27, 2015 14:12:25 GMT
PBL068 - Loan number allocated to the Newmarket farm in Pipeline.
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ablender
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Post by ablender on Nov 27, 2015 14:54:37 GMT
Are you ready for the run?
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paulg
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Post by paulg on Nov 27, 2015 15:02:00 GMT
Are you ready for the run? I'm still a bit worried about the "6th floor first fix" as they don't seem to have built floors 2 to 5 yet. 
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ablender
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Post by ablender on Nov 27, 2015 15:05:16 GMT
Are you ready for the run? I'm still a bit worried about the "6th floor first fix" as they don't seem to have built floors 2 to 5 yet. It might be some new technology that allows you to suspend floor 6 in mid-air.
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awk
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Post by awk on Nov 27, 2015 15:09:52 GMT
Is that the same technology that SS used to build the new website? - hope and prayer
Will it stay up for PBL068?
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paulg
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Post by paulg on Nov 27, 2015 15:11:41 GMT
I'm still a bit worried about the "6th floor first fix" as they don't seem to have built floors 2 to 5 yet. It might be some new technology that allows you to suspend floor 6 in mid-air. Sky hooks? When I was a first year apprentice I was sent to the stores for some sky hooks and a long stand. After waiting for about 40 minutes the storesman told me that they had run out of sky hooks but that as I'd had my long stand I could go back to my department now! There are some things you never forget. 
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ablender
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Post by ablender on Nov 27, 2015 15:13:28 GMT
Can someone please explain this before I rush in and break my head?
The security is valued at £1,850,000 (£1,185,000 - assuming misprint) for a loan of £1,295,000.
This gives a LTV of 70%
The loan particulars say that "There is £1m currently secured against this property."
Doesn't this make a total LTV of 124%?
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SteveT
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Post by SteveT on Nov 27, 2015 15:17:39 GMT
PBL068 will take out the existing finance
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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 Nov 27, 2015 15:19:14 GMT
Can someone please explain this before I rush in and break my head? The security is valued at £1,850,000 (£1,185,000 - assuming misprint) for a loan of £1,295,000. This gives a LTV of 70% The loan particulars say that "There is £1m currently secured against this property." Doesn't this make a total LTV of 124%? I assume thats short term finance being repaid. we have 1st charge
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ablender
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Post by ablender on Nov 27, 2015 15:22:46 GMT
Thanks for the replies.
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Balder
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Post by Balder on Nov 27, 2015 15:26:01 GMT
Can someone please explain this before I rush in and break my head? The security is valued at £1,850,000 (£1,185,000 - assuming misprint) for a loan of £1,295,000. This gives a LTV of 70% The loan particulars say that "There is £1m currently secured against this property." Doesn't this make a total LTV of 124%? I assume thats short term finance being repaid. we have 1st charge When the £1m is repaid and interest taken off the £1295000 loan only leaves approx £115k for the refurbishment work.
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mikes1531
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Post by mikes1531 on Nov 27, 2015 15:55:32 GMT
I assume thats short term finance being repaid. we have 1st charge When the £1m is repaid and interest taken off the £1295000 loan only leaves approx £115k for the refurbishment work. : How did you arrive at your £115k estimate? If I start with £1.295M and withhold 18% interest (12% for us and a guess of 6% for SS) and use £1M to repay the current loan, then what I have left for refurbishment is just about half of your number -- £62k.
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Balder
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Post by Balder on Nov 27, 2015 15:59:16 GMT
When the £1m is repaid and interest taken off the £1295000 loan only leaves approx £115k for the refurbishment work. : How did you arrive at your £115k estimate? If I start with £1.295M and withhold 18% interest (12% for us and a guess of 6% for SS) and use £1M to repay the current loan, then what I have left for refurbishment is just about half of your number -- £62k. You are correct .....I was far to approximate . To me this is just a loan to repay the last one, looking at the state of the place £62k won't go that far..............
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treeman
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Post by treeman on Nov 27, 2015 16:56:57 GMT
I'm guessing this won't go live till next week?
Is there any history of SS going live with a PBL this late or over a weekend?
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duck
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Post by duck on Nov 27, 2015 16:58:21 GMT
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