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Post by Deleted on Mar 17, 2016 16:48:49 GMT
Hopefully we will get some answers before this goes live, otherwise it's a no go for me - think they'll be plenty left on the secondary market if I change my mind later. Meanwhile here are some videos for the development, not your average block of flats  www.youtube.com/XXXXXXXXXXwww.youtube.com/XXXXXXXBelieve the next video relates to pbl033 - www.youtube.com/XXXXXXXXXMOD COMMENT: PLEASE DO NOT POST INFO THAT ID's BORROWERS Ton ⓉⓞⓃ |
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Post by savingstream on Mar 17, 2016 17:08:23 GMT
A couple of questions : The valuation document for unit 3 gives a value of of £8.8m, however there is no mention of restrictive covenants, do we therefore need to take off 20% for the restrictive covenants i.e £7m, which gives an LTV of 88%. Which brings me back to a previous question, why has the loan amount risen from £5m to £6.2m on unit 3. The valuation takes into account the restrictive covenants. The previously uploaded Draft valuations did not take into account the RCs. In summary, the valuation figures in the uploaded valuations take into account the RCs and the planning as is.
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adrianc
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Post by adrianc on Mar 17, 2016 17:31:10 GMT
Yep, that's the same site.
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Post by Deleted on Mar 17, 2016 17:43:36 GMT
Hopefully we will get some answers before this goes live, otherwise it's a no go for me - think they'll be plenty left on the secondary market if I change my mind later. Meanwhile here are some videos for the development, not your average block of flats <ahem> Vids name borrower(s). Enjoy them while you can then - the vids will self destruct in ....
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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 17, 2016 17:45:24 GMT
A couple of questions : The valuation document for unit 3 gives a value of of £8.8m, however there is no mention of restrictive covenants, do we therefore need to take off 20% for the restrictive covenants i.e £7m, which gives an LTV of 88%. Which brings me back to a previous question, why has the loan amount risen from £5m to £6.2m on unit 3. The valuation takes into account the restrictive covenants. The previously uploaded Draft valuations did not take into account the RCs. In summary, the valuation figures in the uploaded valuations take into account the RCs and the planning as is. Sorry savingstream there's something not right here. The valuation Im seeing for unit 4 clearly states the assumption has been made that the RC will be lifted and all values except continuing use are on this basis. 4.4m is exactly the same value as in the draft. For unit 3 im seeing a draft report with no reference to covenants and again the valuation is unchanged from before. Edit valuation for larger has actually gone up from value originally indicated in update 1/2, down for smaller.
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Post by Deleted on Mar 17, 2016 21:29:44 GMT
A suggestion to SS.
Take the week-end and ask the people who wrote the valuation reports to check better the figures, the clear mistakes still there and put a clear note on the restrictions, as of now. It will take a few hours of extra work and will help everyone.
THe loan can be sent live then on Monday with a clearer understanding of facts.
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