adrianc
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Post by adrianc on Jun 13, 2016 16:27:09 GMT
Advance go-live email for PBL107-115 just received.
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adrianc
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Post by adrianc on Jun 13, 2016 16:31:25 GMT
107 - flat in London SW3, £2.275m
108 - flat in London SW1, £1.82m
109 - flat in London W1, £2.065m
110 - flat in London SW10, £1.205m
111 - flat in London W2, £1.05m
112 - flat in London W2, £1.05m
113 - house in London W6, £0.98m
114 - flat in London W1, £0.96m
115 - house in London SW6, £0.96m
Total - £12.36m...
Wow.
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Post by ladywhitenap on Jun 13, 2016 16:39:24 GMT
I guess they must have seen my post saying I had some new cash to invest lol
Shame PBL106 is not ready too.
LW
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Post by trevxe on Jun 13, 2016 16:40:34 GMT
Seems the SS servers are creaking again under the weight of these new loans.
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SteveT
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Post by SteveT on Jun 13, 2016 16:42:03 GMT
Any new SS lender wanting to diversify into some existing loans is going to have a lot of fun on the SM over the next 72 hours! It's lit up like a Xmas tree already.
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adrianc
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Post by adrianc on Jun 13, 2016 16:46:00 GMT
Any new SS lender wanting to diversify into some existing loans is going to have a lot of fun on the SM over the next 72 hours! It's lit up like a Xmas tree already. I suspect a lot of (other <cough>) people are pre-empting that by lining the chod from their out pile by a for-sale sign, in advance... These aren't going to stay live for very long, I don't think - looks like they need to find a pile of cash very quickly, and aren't worried about the short-term cost. Soon as that other purchase has gone through, they'll start work on refinancing these at a better rate. What think you lot? Three months max before they repay...? Quick glance at just the first ValDoc says good LTV (£2.7m against £2.275m, and that's just the 90day - longterm is £3.3m), and definitely a credible source for the valuation.
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Post by trevxe on Jun 13, 2016 16:53:38 GMT
I suspect a lot of (other <cough>) people are pre-empting that by lining the chod from their out pile by a for-sale sign, in advance... These aren't going to stay live for very long, I don't think - looks like they need to find a pile of cash very quickly, and aren't worried about the short-term cost. Soon as that other purchase has gone through, they'll start work on refinancing these at a better rate. What think you lot? Three months max before they repay...? Quick glance at just the first ValDoc says good LTV (£2.7m against £2.275m, and that's just the 90day - longterm is £3.3m), and definitely a credible source for the valuation. Perhaps so. I am offloading stuff, but nothing with longer to run than 3 months so either way it works for me.
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Post by GSV3MIaC on Jun 13, 2016 16:55:33 GMT
One assumes this lot are all from the same borrower. Also I note the LTV is based on the OMV, not the 90-day sale prices. (at least one the ones I looked at, CD being not on the case yet).
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Post by geraldine1210 on Jun 13, 2016 16:57:07 GMT
I can't even get logged on there.
:-(
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Post by grodecki on Jun 13, 2016 17:01:36 GMT
Interesting one. I want some exposure to these but not to all of them; while they are all seperate loans if they are all from the same borrower it's very much one bucket of risk. Not sure at all how much to invest. Do not wish to have the same situation I had with my lot abcd of fields taking up 20% of my investment.
Think I might put £100 prefund on them all. Shoud get a reasonable amount spread between them.
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littleoldlady
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Post by littleoldlady on Jun 13, 2016 17:02:57 GMT
These aren't going to stay live for very long, I don't think - looks like they need to find a pile of cash very quickly, and aren't worried about the short-term cost. Soon as that other purchase has gone through, they'll start work on refinancing these at a better rate. What think you lot? Three months max before they repay...? . I guess they will vary from 3 to 8 weeks. Probably sell rather than refinance.
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jonbvn
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Post by jonbvn on Jun 13, 2016 17:07:24 GMT
I have some reservations regarding the borrower - a quick duedil search shows negative NAV and only one director??? Am I missing something?
I would add the properties seem more than reasonable.
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treeman
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Post by treeman on Jun 13, 2016 17:09:34 GMT
Maybe we might get one of the fabled repayments to add into the mix ?
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Post by harvey on Jun 13, 2016 17:15:14 GMT
In terms of diversification it's really 1 massive loan of 12 million pounds to 1 borrower. The security is just several properties rather than one.
This makes pre funding quite difficult because I really only want my total exposure in all of them to be how much I would want to be exposed if it were a single loan so I am going to be setting very low pre-funding on all of them.
Some are just under 1 million and some are over 1 million so I assume on the below 1 million parts it will be bottom up so I need to pre fund very low as I will likely get what I ask for if I'm only asking for a couple of hundred pounds.
Owing to the website not working at the moment I have only been able to read one of the valuation reports and the report I read showed the property was in a bit of a mess in the middle of refurbishment and repairs but the valuer had been asked to value on the assumption the works had been completed. That was the one in Radcliffe Gardens.
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SteveT
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Post by SteveT on Jun 13, 2016 17:26:54 GMT
I've been puzzling over the same thing. My best guess is that the total pre-funding on each loan will be down to around the £2.0 - 2.5m "base load" level we've seen in the past (when we've had 100% allocations). But I've checked +100% and -50% either side of that, to try to avoid either missing out or ending up with an embarrassment of riches!
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