am
Posts: 1,495 
Likes: 601
|
Post by am on May 21, 2016 21:51:39 GMT
Doesn't Bigglewade count as a large piece of land without planning permission? (What are the stated or implied restrictions on the sentence in context?) That's right; TBH, I was thinking of that sentence when lending against land without PP, but using an LTV with the view that PP will be provided (i.e. Dudley), but there is indeed land without PP on SS (the Essex loans being the other, as sam i am pointed out earlier in this thread). There's also the ex-care home in the pipeline. Not literally land, in that most of the value is in the buildings, but it's also without planning permission. I don't mind loans for land without planning permission; what I don't care for is including hope value in valuations. (From the security viewpoint what matters is the valuation if the borrower's plans don't pan out, not the valuation if everything goes as intended. But I make an exception for development finance, provided it is clear that what is quoted is LTGDV, not LTV - that's the workable business plan that's the first string to the security's second string.) I do wonder what precisely SS meant by their statement.
|
|
boble
Posts: 150
Likes: 65
|
Post by boble on May 21, 2016 22:26:38 GMT
That's right; TBH, I was thinking of that sentence when lending against land without PP, but using an LTV with the view that PP will be provided (i.e. Dudley), but there is indeed land without PP on SS (the Essex loans being the other, as sam i am pointed out earlier in this thread). There's also the ex-care home in the pipeline. Not literally land, in that most of the value is in the buildings, but it's also without planning permission. I don't mind loans for land without planning permission; what I don't care for is including hope value in valuations. (From the security viewpoint what matters is the valuation if the borrower's plans don't pan out, not the valuation if everything goes as intended. But I make an exception for development finance, provided it is clear that what is quoted is LTGDV, not LTV - that's the workable business plan that's the first string to the security's second string.) I do wonder what precisely SS meant by their statement. I agree with am's observations as to LTV and LTGDV. Regarding the comment by SS in the video which seems to be the main topic of this thread; I didn't read a great deal into it on the basis that it spoke in the present tense. My own view regarding a loan secured against development land is that the valuation and the LTV must be cautious. There must also be an identifiable exit route should planning not be achieved.
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Oct 11, 2016 16:54:37 GMT
Be careful - that could be classed as slander I'm pretty sure the investors in the video were real; rogerbu posted on this forum about his HQ visit as a result of being asked to provide a video testimony must be a first actually using investors rather then actors No, Zopa at least has done so in the past. Don't pay much attention to them these days, but they may still do so.
|
|
|
|
Post by GSV3MIaC on Oct 12, 2016 9:02:27 GMT
Investors are cheaper .. will do almost anything for a free coffee mug or umbrella. 8>. Bit harder to successfully organise into following the script though (ask FC).
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Oct 12, 2016 17:33:55 GMT
Bit harder to successfully organise into following the script though (ask FC). If you interview enough investors and provide a lot of material to the editors, they can piece together enough sound bites to tell the story the director wants.
|
|
rogerbu
Member of DD Central
Posts: 398
Likes: 213
|
Post by rogerbu on Oct 12, 2016 18:01:22 GMT
Investors are cheaper .. will do almost anything for a free coffee mug or umbrella. 8>. Bit harder to successfully organise into following the script though (ask FC). No - Just coffee & biccies I'm afraid. There was no attempt to give me a script, although as said elsewhere they did edit my comments a little - mainly for length. I didn't feel that I my comments had been manipulated or misquoted.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Apr 18, 2017 17:20:20 GMT
Liked the post, not the video!
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Apr 18, 2017 18:01:22 GMT
Is it new through choice or did something have to be removed from the previous video I wonder, I have a strong inclination it is the latter.
|
|
