webwiz
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Post by webwiz on Feb 19, 2016 23:09:23 GMT
I was not aware of the £250k cap. Where is that stated? It's important to me because I would not want to exceed it.  And I still think it is not sustainable. |
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star dust
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Post by star dust on Feb 19, 2016 23:35:27 GMT
I was not aware of the £250k cap. Where is that stated? It's important to me because I would not want to exceed it. And I still think it is not sustainable. I don't think it was stated anywhere by SS, but before they were capped individually they all used to go up to the same £250k? My ? was because I'm not sure I remembered the limit correctly. There was a thread about the bands when first introduced, but haven't gone looking and not sure if it was specifically mentioned at the time. I'm assuming SS would have kept that limit. You'll have to ask a BH - if they're willing to reveal themselves that is! Anyway if there weren't a limit, and in the extreme you could only gain advantage by depositing masses of cash in your account then you'd have effectively got rid of your "invest now pay later perk" wouldn't you .
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mikes1531
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Post by mikes1531 on Feb 20, 2016 2:26:28 GMT
I was not aware of the £250k cap. Where is that stated? It's important to me because I would not want to exceed it. I don't think it was stated anywhere by SS, but before they were capped individually they all used to go up to the same £250k? My ? was because I'm not sure I remembered the limit correctly. That's the way I remember it.
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sl75
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Post by sl75 on Jun 22, 2016 9:04:30 GMT
Given the rezoning mentioned in the recent update, what's the betting on these converting into a truly huge series of DFLs in due course?
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jonah
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Post by jonah on Jun 22, 2016 19:58:25 GMT
Given the rezoning mentioned in the recent update, what's the betting on these converting into a truly huge series of DFLs in due course? Higher odds than tomorrow's vote I suspect.
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beechside
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Post by beechside on Jul 5, 2016 20:58:19 GMT
I see that this farm is now "to let" on UK Land and Farms with a 6-year Farm Business Tenancy from October 2016. All bids are to be submitted by 20th July 2016. Can't quite imagine that anyone with rezoning permission would be about to sign up for a six-year lease. Can anyone shed any light on this? Forum rules prevent me supplying a direct link but you can just search for the farm name and you'll find it. . . |
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 5, 2016 21:06:01 GMT
I see that this farm is now "to let" on UK Land and Farms with a 6-year Farm Business Tenancy from October 2016. All bids are to be submitted by 20th July 2016. Can't quite imagine that anyone with rezoning permission would be about to sign up for a six-year lease. Can anyone shed any light on this? Forum rules prevent me supplying a direct link but you can just search for the farm name and you'll find it. . . Rezoning is not planning permission, just a local authority setting out a long term plan. Furthermore, any PP won't be accepted en masse, more a step by step procedure. This is a long term plan by our borrower, and he looks to have hit the jackpot by having the land rezoned, but any development on the land is going to be years maybe even decades away. In the meantime, the borrower is doing the sensible thing and is looking to get an income from the land.
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kermie
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Post by kermie on Jul 5, 2016 21:48:37 GMT
cooling_dude, beechside - the rent is £120k, from what I could find. Any idea if this relates to tranche A, B, C or D, and hence could we put a yield on the land (and thence perhaps see if the valuations stack up?)
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sam i am
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Post by sam i am on Jul 5, 2016 22:38:33 GMT
cooling_dude , beechside - the rent is £120k, from what I could find. Any idea if this relates to tranche A, B, C or D, and hence could we put a yield on the land (and thence perhaps see if the valuations stack up?) It's all of them. The total size of the land stated on SS is 937 acres which matches with the acreage on UK Land and Farms. So the rent being asked is £120,000 (I assume annual?) on a valuation of £6.57m which is 1.8%.
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kermie
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Post by kermie on Jul 6, 2016 19:22:01 GMT
Thanks for that, sam i am. Anyone know if 1.8% is a decent return for farm land of this sort? Seems remarkably low to my naïve eyes. |
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 6, 2016 19:26:48 GMT
Thanks for that, sam i am . Anyone know if 1.8% is a decent return for farm land of this sort? Seems remarkably low to my naïve eyes. It is low, and it wouldn't cover our interest. However, I got the feeling the borrower will either refinance at a (much) better rate (due to the decreased LTV), or raise funds themselves. From memory, I believe that SS said our borrower was asset rich, so could be freeing up funds from elsewhere.
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fp
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Post by fp on Jul 6, 2016 20:00:11 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.
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Post by sqh on Jul 6, 2016 20:31:22 GMT
It's actually open to tenders until 20th July. I suspect it has been pitched low to encourage offers.
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TitoPuente
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Post by TitoPuente on Jul 13, 2016 7:32:22 GMT
Given that the planned end of this loan is about 5 weeks from now, would it make sense to provide a clearer picture of the expected end game? The last note says "Land has been re-zoned. Potential valuation of over £XXm. Waiting on new valuation, will update when received". That is all positive, but provides little timing information. The "Project Strategy" section is also inconclusive. Can we, as lenders, know what are the borrower's intentions and expected timetable?
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Post by chielamangus on Jul 13, 2016 8:59:17 GMT
Thanks for that, sam i am . Anyone know if 1.8% is a decent return for farm land of this sort? Seems remarkably low to my naïve eyes. Agricultural rents are usually around 2 per cent of the land "value". The rent is a function of what farmers are prepared to pay (and this is influenced very much by the agricultural policies and subsidies of the day), while land value is based on much wider and longer term considerations. With Brexit in the pipeline (I hope, but still don't trust it will be delivered) there could be a substantial change in policies and the criteria for subsidies.
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