cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on Mar 8, 2016 11:42:32 GMT
This Loan is currently LIVE
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| @ 1st Tranche
09/03/16
| @ 2nd Tranche
17/05/16
| @ 3rd Tranche 24/08/16 | @ 4th Tranche
15/10/16
| @ 5th Tranche
21/11/16
| @ 6th Tranche 25/01/17
| @ 7th Tranche
01/03/17
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| | Loan Amount | : | £ | 1,370,366
| 500,000
| 500,000
| 271,180
| 242,313
| 51,562
| 32,579
| | Gross Dev. Value | : | £ | 3,800,000
| 3,800,000
| 3,800,000
| 4,240,000
| 4,240,000
| 4,240,000
| 4,240,000
| | SS Indicated LTGV | : |
| 36% | 50% | 62% | 62%
| 68%
| 69%
| 70% | Value
| : | £ | 1,250,000
| Unknown
| Unknown
| 2,425,000
| Unknown
| Unknown
| Unknown
| LTV
| : |
| 110% | Unknown
| Unknown
| 109%
| Unknown
| Unknown
| Unknown
| | 90 Day Market Valuation | : | £ | Unknown
| Unknown
| Unknown
| 1,950,000
| Unknown
| Unknown
| Unknown
| | LTV Based on 90 day MV | : |
| Unknown
| Unknown
| Unknown
| 135%
| Unknown
| Unknown
| Unknown
| | Term | : |
| Unknown
| Unknown
| Unknown
| Unknown
| 207 days
| 143 days
| 109 days | % PA
| : |
| 12%
| 12%
| 12%
| 12% | 12% | 12% | 12% |
PLEASE NOTE : Everything below this line is no longer being updated
Some of my observations from the valuation report & this loan as a whole
Update - 14/10/2016
- A further tranche of Development Funding £271,180 now required bringing the total loan to £2,641,546
- QS has undertaken monthly site visits and confirmed previous monies have been spent as evidenced through works completed and materials on site
- SS has included a new VR; it indicates that the current value of the development is £2,425,000 (109% LTV) and the current 90-day Value is £1,950,000 (135% LTV)
- Build costs have increased by circa £300k, but the GDV has also increased from £3.8m to £4.24m
- The property should be completed within next 6-8 weeks
1. The valuation reports that Market Value after completion of works is £3,800,000, which gives us an LTGV of 70%
2. PBL050 is due to roll into this loan. PBL050 was rolled into this loan
3. As far as I can tell, SS have yet to announce how much of this loan is actually going to be released, so I'm unable to do a current LTV....
> Speculation is that the first tranche will be the sum of the original loans (PBL 50) + interest/fees + 500k. Which would be in the region of £1,300,000
> The current value of the land is £1,250,000. If the above is accurate, this initial loan part would provide us a 104% LTV
| Code Number Assigned | : | 08/03/2016 (11:43) | | Loan went live @ | : | 09/03/2016 (15:50) | | Allocation | : | £600 | | No. of investors @ live time | : | 1523 |
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treeman
Member of DD Central
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Post by treeman on Mar 8, 2016 12:01:37 GMT
It would be nice if savingstream would confirm how the 'roll-over' mechanism re Pebble 50 will be handled........ IMHO this really should be an 'opt-in' given the fundamental differences between PBL and DFL. Presumably we can expect some kind of explanation / confirmation / notice email ? |
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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 Mar 8, 2016 13:10:04 GMT
I note devil 2 (DFL version of pebble  ) has a decreased value and corresponding higher LTV, though not one that tallies with the valuation GDV (250k light) |
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cooling_dude
Bye Bye's for the PPI
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Likes: 4,298
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Post by cooling_dude on Mar 8, 2016 13:20:10 GMT
Go Live E-mail just received
This loan is due to go live Wednesday (09/03/2016)
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adrianc
Member of DD Central
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Member is Online
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Post by adrianc on Mar 8, 2016 14:30:59 GMT
I note devil 2 (DFL version of pebble ) has a decreased value and corresponding higher LTV, though not one that tallies with the valuation GDV (250k light) Duffle, surely? Or, as some are suggesting, duff'un.
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SteveT
Member of DD Central
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Post by SteveT on Mar 8, 2016 14:36:19 GMT
Seasonally speaking, it should be "daffodil"
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sam i am
Member of DD Central
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Post by sam i am on Mar 8, 2016 14:40:40 GMT
Given how little we know about how these loans will work, maybe they should be "doubtful"
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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 Mar 8, 2016 15:00:38 GMT
I was going on pronouciation, as with pebble, with a slight inflexion to reflect the slight wickedness of investing in something that hasnt had proper DD. In the interests of diversity though, Welsh ones can be daffodil and Scotch one duffle |
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treeman
Member of DD Central
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Post by treeman on Mar 8, 2016 15:03:39 GMT
Eeeeek ! Hope the resident poll-ster isn't reading this !  |
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cooling_dude
Bye Bye's for the PPI
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Likes: 4,298
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Post by cooling_dude on Mar 8, 2016 15:04:17 GMT
Eeeeek ! Hope the resident poll-ster isn't reading this ! 
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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 Mar 8, 2016 16:42:41 GMT
Loan Value and security has changed....
Loan - £2,660,000 (changed from £2,800,000)
Secuity - £3,800,000 (changed from £4,050,000)
That now makes the LTGV 70%
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sam i am
Member of DD Central
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Post by sam i am on Mar 8, 2016 19:48:36 GMT
OK savingstream , I've got a reasonable sized chunk of PBL50 that I'd like to invest in DFL002. But that's probably enough for me. I've set my pre-funding at zero. Does that mean I will get 100% of my PBL50 holding rolled over? (I hope you won't think that I want nothing) If I wake up tomorrow and think I'd like a bit more of the action and set my pre-funding at £x. Will I then still get 100% of my PBL50 holding plus an additional amount up to £x depending on the total amount of pre-funding? How much additional loan will be released tomorrow and how will the allocation to investors be calculated? If I suddenly get cold feet, is there a way to opt out of the rollover? I know these questions have been asked already. But as far as I can see, we have not had a definitive answer. (Someone please point me in the right direction if I have missed it) |
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cooling_dude
Bye Bye's for the PPI
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Likes: 4,298
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Post by cooling_dude on Mar 8, 2016 19:50:41 GMT
OK savingstream , I've got a reasonable sized chunk of PBL50 that I'd like to invest in DFL002. But that's probably enough for me. I've set my pre-funding at zero. Does that mean I will get 100% of my PBL50 holding rolled over? (I hope you won't think that I want nothing) If I wake up tomorrow and think I'd like a bit more of the action and set my pre-funding at £x. Will I then still get 100% of my PBL50 holding plus an additional amount up to £x depending on the level of pre-funding? How much additional loan will be released tomorrow and how will the allocation to investors be calculated? If I suddenly get cold feet, is there a way to opt out of the rollover? I know these questions have been asked already. But as far as I can see, we have not had a definitive answer. (Someone please point me in the right direction if I have missed it) I think........ That if you set your pre-funding to zero, your current investments will be credited to your account (i.e. the loan is repaid, and your investments returned). If you have £1000 and you want to reinvest that in this loan, you have to set pre-funding to £1000 (but you will only get this if allocation is 100%) So to opt out, set pre-funding to 0%
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treeman
Member of DD Central
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Post by treeman on Mar 8, 2016 19:50:57 GMT
OK savingstream , I've got a reasonable sized chunk of PBL50 that I'd like to invest in DFL002. But that's probably enough for me. I've set my pre-funding at zero. Does that mean I will get 100% of my PBL50 holding rolled over? (I hope you won't think that I want nothing) If I wake up tomorrow and think I'd like a bit more of the action and set my pre-funding at £x. Will I then still get 100% of my PBL50 holding plus an additional amount up to £x depending on the total amount of pre-funding? How much additional loan will be released tomorrow and how will the allocation to investors be calculated? If I suddenly get cold feet, is there a way to opt out of the rollover? I know these questions have been asked already. But as far as I can see, we have not had a definitive answer. (Someone please point me in the right direction if I have missed it) Seconded! was just considering the same thoughts ..........
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sam i am
Member of DD Central
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Post by sam i am on Mar 8, 2016 19:55:38 GMT
OK savingstream , I've got a reasonable sized chunk of PBL50 that I'd like to invest in DFL002. But that's probably enough for me. I've set my pre-funding at zero. Does that mean I will get 100% of my PBL50 holding rolled over? (I hope you won't think that I want nothing) If I wake up tomorrow and think I'd like a bit more of the action and set my pre-funding at £x. Will I then still get 100% of my PBL50 holding plus an additional amount up to £x depending on the level of pre-funding? How much additional loan will be released tomorrow and how will the allocation to investors be calculated? If I suddenly get cold feet, is there a way to opt out of the rollover? I know these questions have been asked already. But as far as I can see, we have not had a definitive answer. (Someone please point me in the right direction if I have missed it) I think........ That if you set your pre-funding to zero, your current investments will be credited to your account (i.e. the loan is repaid, and your investments returned). If you have £1000 and you want to reinvest that in this loan, you have to set pre-funding to £1000 (but you will only get this if allocation is 100%) That doesn't sound like a rollover. It just sounds like repayment and pre-funding. My understanding is that current investments in PBL050 will automatically be transferred into DFL002.
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) has a decreased value and corresponding higher LTV, though not one that tallies with the valuation GDV (250k light)
