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Post by supernumerary on Mar 17, 2016 19:04:05 GMT
I think I'm going round the twist.....  You are doing your best for all of us, in your Cooling_Dude way...  Sometimes strange things happen, so please don't get concerned. Chill and relax. 
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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 17, 2016 19:05:50 GMT
I think I'm going round the twist..... You are doing your best for all of us, in your Cooling_Dude way... Sometimes strange things happen, so please don't get concerned. Chill and relax. Time to get a brandy I think 
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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 17, 2016 19:32:40 GMT
Sigh....There seem's to be something amiss The previous draft valuation is (slightly) different to the current valuation, but the market valuation remains the same in both valuation reports. This contradicts SS 20% reduction due to the restrictive covenant. The key addition to the valuation is 3.1.1 : The important bit I have indicated in bold..... So AFAICS the value of the security is currently 20% less as the indicated value indicated in the valuation report.... £7,052,000 or 87.5% LTV? Please help me out with this one savingstream .....
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Post by Deleted on Mar 17, 2016 19:41:27 GMT
CD, don't worry a few more Brandys and it will all make sense  I've just put my rose tinted glasses back on and I feel much better already, just maxed out my pre-funding too ps I've given up for the day on trying to figure it out - perhaps a new document will arrive in morning. |
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Post by bracknellboy on Mar 17, 2016 19:45:46 GMT
Time to get a brandy I think The admin team (or at least this member of it) respectfully asks that the quantity of said liquor is kept in moderation - the better to avoid any need for moderation in the morning 
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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 17, 2016 19:48:16 GMT
Time to get a brandy I think The admin team (or at least this member of it) respectfully asks that the quantity of said liquor is kept in moderation - the better to avoid any need for moderation in the morning You're no fun bracknellboy Don't worry; I'll be good
now where's that bottle.......
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registerme
Member of DD Central
Posts: 6,624
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Post by registerme on Mar 17, 2016 19:56:22 GMT
Next to me . |
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Post by GSV3MIaC on Mar 17, 2016 20:13:48 GMT
Bother the bottle .. what have you done with the contents? For 'next to' read 'inside'??
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registerme
Member of DD Central
Posts: 6,624
Likes: 6,437
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Post by registerme on Mar 17, 2016 20:17:42 GMT
“Ah,” he said, and only then felt the blood rise”. |
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eddie
i have put up with a great deal from the likes of you people, a very great deal....
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Post by eddie on Mar 17, 2016 21:24:48 GMT
“Ah,” he said, and only then felt the blood rise”. i do this if i want to get gsv's attention too
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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 17, 2016 22:14:59 GMT
savingstream I originally amended my OP, as you indicated that I got my facts wrong with regards to the valuation & LTV. However, I have gone through the updated valuation report, and it states twice that the indicated market valuation is with the view that the restrictive covenant has been removed; I can't ignore this in my DD post, as it is important information. If I have gotten this wrong then I apologise, but please let us know any details we might be missing......
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Post by Deleted on Mar 17, 2016 22:38:04 GMT
savingstream I originally amended my OP, as you indicated that I got my facts wrong with regards to the valuation & LTV. However, I have gone through the updated valuation report, and it states twice that the indicated market valuation is with the view that the restrictive covenant has been removed; I can't ignore this in my DD post, as it is important information. If I have gotten this wrong then I apologise, but please let us know any details we might be missing...... Looks good DD to me .... good to see people checking the small print. In good times the small print is often irrelevant, in bad times it jumps up and bites you in the wallet. 
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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 17, 2016 23:26:19 GMT
I might be wrong, but this seems to have been added to the overview since I last looked.....
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investibod
Member of DD Central
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Post by investibod on Mar 17, 2016 23:38:52 GMT
I cannot claim to be as experienced in this is most of the people here, but my reading of the valuation is that the value without the restrictive covenants removed is £7,450,000 making the LTV 83%.
I do not see a value for a 6 month restricted sale in these circumstances.
I am not comfortable with this, so I have decided to remove my pre-funding for this loan.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Mar 18, 2016 8:54:44 GMT
I cannot claim to be as experienced in this is most of the people here, but my reading of the valuation is that the value without the restrictive covenants removed is £7,450,000 making the LTV 83%. I do not see a value for a 6 month restricted sale in these circumstances. I am not comfortable with this, so I have decided to remove my pre-funding for this loan. I agree. The whole question of conversion to residential (RC, planning, existing lease, suitability of the area etc) is well outside of the time scale for the loan. I will base my decision purely on its ongoing office use, and 83% LTV is too high for me. But might be suitable for anyone not yet fully diversified, on the assumption that SS know what they are doing, because diversification is a better way of achieving security than doing one's own DD IMO.
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