littleoldlady
Member of DD Central
Running down all platforms due to age
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DFL001
Jan 5, 2016 16:30:03 GMT
Post by littleoldlady on Jan 5, 2016 16:30:03 GMT
It's at stage 0 - not sure what that signifies
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ben
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DFL001
Jan 5, 2016 16:31:37 GMT
Post by ben on Jan 5, 2016 16:31:37 GMT
think that just means they have been approached about it and no work has really been done on it
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SteveT
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DFL001
Jan 5, 2016 17:05:30 GMT
Post by SteveT on Jan 5, 2016 17:05:30 GMT
I see this has appeared on the pipeline loans. Was it a case of adding DFL001 to a loan that already had been on the pipeline list? Or was it a totally new loan? I ask because the pre-funding on it was much higher than my 'default' pre-funding amount, and many times more than what I would want to pre-fund on a £5+M loan. If the system ignored my default setting, then there's a bug that needs fixing before it causes a problem for someone. If it was an existing pipeline loan where the amount had been much lower before, then that might explain the large pre-funding amount, but also has the potential of causing a problem for someone if they don't notice the change before the loan goes live. In either case, this ought to be brought to SS's attention. If, on the other hand, this is a mistake of my own doing, then I should keep quiet about it!  It was a new loan and picked up my default pre-funding figure OK
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DFL001
Jan 5, 2016 17:15:57 GMT
Post by ladywhitenap on Jan 5, 2016 17:15:57 GMT
It will be interesting to see what the security arrangements are.
I can't believe the land alone can be worth £8.5m - this could be the value once the houses are built - just but we need adequate security from the outset?
Maybe there are a number of land parcels and the security is the whole lot?
Watching with interested
LW
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ablender
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DFL001
Jan 5, 2016 17:26:16 GMT
Post by ablender on Jan 5, 2016 17:26:16 GMT
Very unlikely given that borrowers circumstances. Maybe the new buyer needs a bit of financing? If I had to buy the yacht, (just to do you a favour really, not that I need it) will you lot fund me? BTW, on a different note, do you think that DFL is going to be a different category of loans vs PBL?
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littleoldlady
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DFL001
Jan 5, 2016 17:55:52 GMT
Post by littleoldlady on Jan 5, 2016 17:55:52 GMT
No doubt we will now see a torrent of suggestions for the meaning of the acronym DFL.
Damn Funny Loan?
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sam i am
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DFL001
Jan 5, 2016 18:05:14 GMT
Post by sam i am on Jan 5, 2016 18:05:14 GMT
Desperate For Loan?
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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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DFL001
Jan 5, 2016 18:20:17 GMT
via mobile
paulg likes this
Post by ilmoro on Jan 5, 2016 18:20:17 GMT
Didnt Float Lasttime
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mikes1531
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DFL001
Jan 5, 2016 19:30:50 GMT
Post by mikes1531 on Jan 5, 2016 19:30:50 GMT
Not much of a superyacht then!
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jonah
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DFL001
Jan 5, 2016 19:53:56 GMT
t likes this
Post by jonah on Jan 5, 2016 19:53:56 GMT
Development funding loan?
I'll get my coat.
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Liz
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DFL001
Jan 6, 2016 23:58:25 GMT
via mobile
Post by Liz on Jan 6, 2016 23:58:25 GMT
Damn funky loan
Don't fund loan
Dodgy fishy loan
Drink funded loan
Dishy food loan
Desperate for loan
Delicate fragile loan
Dubious fun loan
Delicious financial loan
Devilshly fantastic loan
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registerme
Member of DD Central
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DFL001
Jan 7, 2016 0:01:42 GMT
Post by registerme on Jan 7, 2016 0:01:42 GMT
Default For Laughs.
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Post by savingstream on Jan 7, 2016 8:31:29 GMT
Morning All
We were in 2 minds whether to let this discussion run for longer as it has been very humorous! However, to put you out of your misery, DFL stands for....
Development Finance Loan
We have been considering entering this space for quite a while and have finally offered to this borrower in Exeter to provide the construction costs on top of the original land loan. Whether or not this loans comes off is not 100% yet.
The value we show on the Pipeline section will refer to the GDV or Gross Development Value i.e the value of the final and completed project. The borrower will receive staged payments (monthly or when required) following a report by a qualified independent Quantity Surveyor. This is standard practise in property development finance banking. Much more detail will be forthcoming before we launch the loan so you wont be rushed into making any decisions.
We have employed a Development Finance Director who was previously the Head of DF at a UK bank and is very experienced and respected in the the industry; it just goes to show how respected we have become in this industry that someone of his background would leave a secure banking job (possible oxymoron...) to come and work with us. His bio will go on the site in Feb when he starts. His job will be to identify and underwrite new DF opportunities and see them through to final completion and exit. We are also employing BDMs to continue the growth of our standard bridging loan opportunities.
We bought a big office in Portsmouth recently to house our growing team and supporting infrastructure.
2015 was very successful for our business; demand continues to outstrip supply. It is our intention to grow our loan book by 300% in the next year.
Thank you for investing with Savingstream.co.uk
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SteveT
Member of DD Central
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Post by SteveT on Jan 7, 2016 8:40:13 GMT
If you can grow the loan book by 300% without compromising quality then we shall all be very happy (well, most of us at least!). However please retain your focus on quality over all else; nothing will undermine SS faster than a loan default that cannot be recovered from the underlying security.
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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 Jan 7, 2016 10:14:52 GMT
It appears SS have provided us with a new accronym to play with. So BDM? Big Deal Monitor or have they taken up a suggestion on another board and hired one of oldgrumpy 's relatives to do recoveries Big Dangerous Monkey |
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