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Post by geraldine1210 on Jun 20, 2016 15:59:34 GMT
I think I would almost rather invest in the defaulted loan, in preference to the Luton loan. What is wrong with the bl**dy Luton loan? Low LTV, could be bought and let out, with a good yield. Then there is the industrial estate! Have you been to luton recently?
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NSFW
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Post by NSFW on Jun 20, 2016 16:05:44 GMT
What is wrong with the bl**dy Luton loan? Low LTV, could be bought and let out, with a good yield. Then there is the industrial estate! Have you been to recently? Think you a word.
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Post by geraldine1210 on Jun 20, 2016 16:20:59 GMT
Have you been to recently? Think you a word. Have edited to insert the :-)
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Post by geraldine1210 on Jun 20, 2016 16:44:25 GMT
Have edited to insert the :-) Luton just needs a capital letter, then you are done  My phone kept insisting I should type Luzon.
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Post by geraldine1210 on Jun 20, 2016 16:45:08 GMT
What is wrong with the bl**dy Luton loan? Low LTV, could be bought and let out, with a good yield. Then there is the industrial estate! Have you been to Luton recently?
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hazellend
Member of DD Central
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Post by hazellend on Jun 20, 2016 17:40:18 GMT
What is wrong with the bl**dy Luton loan? Low LTV, could be bought and let out, with a good yield. Then there is the industrial estate! Have you been to luton recently? What has "been to luton" got to do with a commerical property loan? Looks very good to me and I will hoover up anything on the SM happily.
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Post by geraldine1210 on Jun 20, 2016 19:04:25 GMT
Have you been to luton recently? What has "been to luton" got to do with a commerical property loan? Looks very good to me and I will hoover up anything on the SM happily. It is each to their own. I just wouldn't invest in it. I probably wouldn't touch anything in Luton.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jun 21, 2016 9:59:04 GMT
These have all now drawndown.
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Post by earthbound on Jun 21, 2016 12:24:17 GMT
What has "been to luton" got to do with a commerical property loan? Looks very good to me and I will hoover up anything on the SM happily. It is each to their own. I just wouldn't invest in it. I probably wouldn't touch anything in Luton. And i fully agree, a commercial property in L***n, being used as office space with an ltv% of 58% and ' £1,050,000 – 90 day sale with vacant possession' value... more like 77% ltv... no thanks.
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goopy
Member of DD Central
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Post by goopy on Jun 21, 2016 12:40:05 GMT
Have you been to luton recently? What has "been to luton" got to do with a commerical property loan? Looks very good to me and I will hoover up anything on the SM happily. You clearly haven't bee to Luton recently. 
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Post by earthbound on Jun 21, 2016 12:47:36 GMT
What has "been to luton" got to do with a commerical property loan? Looks very good to me and I will hoover up anything on the SM happily. You clearly haven't bee to Luton recently. correct, you ought to 'fly' down and take a look, you will soon want to 'buzz' off.
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Liz
Member of DD Central
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Post by Liz on Jun 21, 2016 16:31:27 GMT
It is each to their own. I just wouldn't invest in it. I probably wouldn't touch anything in Luton. And i fully agree, a commercial property in L***n, being used as office space with an ltv% of 58% and ' £1,050,000 – 90 day sale with vacant possession' value... more like 77% ltv... no thanks. 90day, 77% LTV, on a property bridge on Savingstream, is about as good as it gets. We have plenty of other loans nearer to 85-90%, 90 day LTV. Luton or not, if the economics and security add up, then that's what you should lend on.
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Post by earthbound on Jun 21, 2016 16:46:31 GMT
And i fully agree, a commercial property in L***n, being used as office space with an ltv% of 58% and ' £1,050,000 – 90 day sale with vacant possession' value... more like 77% ltv... no thanks. 90day, 77% LTV, on a property bridge on Savingstream, is about as good as it gets. We have plenty of other loans nearer to 85-90%, 90 day LTV. Luton or not, if the economics and security add up, then that's what you should lend on. Had it been residential or commercial to residential , I too would have been ok with it, but office commercial, it would need to be well under 50% ltv to interest me. And TBH the exit strategy is nothing more than refinance.. i'm stuck in a boatyard loan that has had at least 2 refinance exit strategies and the liquidators are trying to arrange a third one.
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Post by earthbound on Jun 21, 2016 17:09:27 GMT
These have all now drawndown. Agreed they have, but large bits keep turning up on the SM, if like me you try to avoid the pre-fund and then buy on the SM , the DD is not over just because it has drawn down, many times i see something on the SM and then do a bit of DD myself to decide whether i want to chase it.
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Liz
Member of DD Central
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Post by Liz on Jun 21, 2016 17:24:13 GMT
90day, 77% LTV, on a property bridge on Savingstream, is about as good as it gets. We have plenty of other loans nearer to 85-90%, 90 day LTV. Luton or not, if the economics and security add up, then that's what you should lend on. Had it been residential or commercial to residential , I too would have been ok with it, but office commercial, it would need to be well under 50% ltv to interest me. And TBH the exit strategy is nothing more than refinance.. i'm stuck in a boatyard loan that has had at least 2 refinance exit strategies and the liquidators are trying to arrange a third one. All property bridging loans have an exit strategy of refinance. IF A PBL can't get refinance then property needs to be sold, and it will usually be a fire sale, hence a lower LTV is desirable. You didn't mention Luton in your last post, and now slate commercial, which I agree is riskier than property, the problem is you wont get residential property on Savingstream at such low LTV's as residential. Yes 77% LTV on res, is better than commercial, but you don't get that option. Don't forget the PF will always rescue us
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