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Post by mrclondon on Jun 13, 2016 18:57:14 GMT
PBL109
- Lease only 24 years but valued on basis of long lease of c. 114 years (negotiations for lease extension ongoing)
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Investor
Member of DD Central
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Post by Investor on Jun 13, 2016 18:57:52 GMT
Deleted
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jamesc
Member of DD Central
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Post by jamesc on Jun 13, 2016 18:59:28 GMT
Up until now SS have had my greatest respect but launching nine loans at once given how the website performed last time TWO largest loans were launched is both F----g stupid and arrogant what do they expect the website to do other than crash !!!!!!!!!!!!!!. I cant access the website my to change pre funding for my accounts.
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on Jun 13, 2016 19:04:48 GMT
They haven't launched any yet.
Perhaps they will unleash them tomorrow at half hour intervals.
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Post by harvey on Jun 13, 2016 19:14:20 GMT
I've only managed to open 1 valuation report so far and I'm giving up now until later this evening.
What I have seen and the comments from the admin above suggest to me that these are not very appetizing because getting a lease extension on a high value property is very expensive and it seems there are issues here with very short unexpired terms yet valuations based on long unexpired lease terms and another in a poor state of repair yet valued on the assumption it is all refurbished.
I'm frustrated at the moment because the system won't let me adjust pre fund level from my default setting of £1,000 and the last thing I want is £1,000 in all of these. So it better be working later this evening.
My guess at the moment is that these will struggle to be all fully funded and I would expect people to get quite close to 100% of their pre fund request so take care here guys, you might struggle to offload any surplus if they aren't all fully subscribed. Certainly I wouldn't expect to get less than 80% as an average.
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Post by richardb67 on Jun 13, 2016 19:16:51 GMT
PBL 107
according to Zoopla (and valuation document) was sold for £1,500,000 in Jan 2015.
Zoopla has additional sale of £1,436,000 in Nov 2015
Now security value is £3,250,000 ? (from valuation poc)
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locutus
Member of DD Central
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Post by locutus on Jun 13, 2016 19:18:32 GMT
PBL 107 according to Zoopla and valuation was sold for £1,500,000 in Jan 2015. Zoopla has additional sale of £1,436,000 in Nov 2015 Now security value is £3,250,000 ? Zoopla is useless for valuations. You need to know the exact property and then you can search sold prices rather than some Zoopla estimate.
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Post by pepperpot on Jun 13, 2016 19:28:42 GMT
Remaining leases (yrs) pbl107 - 22 of 65 (assumed to be extended by 90 for valuation purpose) pbl108 - 84 of 125 (assumed to be extended by 90 for valuation purpose)
pbl109 - 23 of 81 (assumed to be extended by 90 for valuation purpose)
pbl110 - 981 of 999 pbl111 - 89 of 125 pbl112 - 91 of 125 pbl113 - Freehold pbl114 - 62 of 99 (assumed to be extended by 90 for valuation purpose)
pbl115 - No valuation doc  freehold (added by mod for completeness) |
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jun 13, 2016 19:30:28 GMT
Remaining leases (yrs) pbl107 - 22 of 65 (assumed to be extended by 90 for valuation purpose) pbl108 - 84 of 125 (assumed to be extended by 90 for valuation purpose)
pbl109 - 23 of 81 (assumed to be extended by 90 for valuation purpose)
pbl110 - 981 of 999 pbl111 - 89 of 125 pbl112 - 91 of 125 pbl113 - Freehold pbl114 - 62 of 99 (assumed to be extended by 90 for valuation purpose)
pbl115 - No valuation doc PBL115 has got a valuation report; it just isn't listed on the loan page. You have to click on the valuation icon on the pipeline list. It's Freehold.
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Post by richardb67 on Jun 13, 2016 19:43:48 GMT
PBL 107 according to Zoopla and valuation was sold for £1,500,000 in Jan 2015. Zoopla has additional sale of £1,436,000 in Nov 2015 Now security value is £3,250,000 ? Zoopla is useless for valuations. You need to know the exact property and then you can search sold prices rather than some Zoopla estimate. agree, the figures are the sold figures and the valuation is from the SS valuation document. have edited slightly to make clearer.
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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 Jun 13, 2016 19:48:20 GMT
I wonder why, if the instruction was sent on 4 April 2016 to carry out valuations, why these only appeared on the pipeline togeather with a go live date today ? |
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Post by harvey on Jun 13, 2016 19:49:59 GMT
I wonder why, if the instruction was sent on 4 April 2016 to carry out valuations, why these only appeared on the pipeline togeather with a go live date today ? A cynic would say so the investors didn't have time to do their due diligence and pick up some of the points that have already been picked up despite the server overload. Of course I'm not saying that is the reason.
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ben
Posts: 2,020
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Post by ben on Jun 13, 2016 19:51:04 GMT
Zoopla is useless for valuations. You need to know the exact property and then you can search sold prices rather than some Zoopla estimate agree, the figures are the sold figures and the valuation is from the SS valuation document. have edited slightly to make clearer. Based on a lease that they dont have so the equvalent of basing a property with planning permission that do not yet have it another poor show by SS. I think I will go and get a loan from SS based on my neighbours house, I don't actally own it but I would like to so enough security for them it seems.
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Post by harvey on Jun 13, 2016 19:59:13 GMT
At the risk of stating the obvious, of course the effect in the examples mentioned about assumed 90 year lease extensions (which will cost a lot of money to get) is that the real loan to value percentage is much much higher than the stated 70% .
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Post by Financial Thing on Jun 13, 2016 20:01:06 GMT
Are these 6 month loans?
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freehold (added by mod for completeness)
