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Post by earthbound on Jun 21, 2016 17:33:45 GMT
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  Enough said about luton iv'e only been once and it left a lasting impression. 
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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 22, 2016 21:06:49 GMT
A charge has appeared on the companies house website for the company we discussed in the valuation reports (V** P****** 3 LTD), but for only one of the loans securities (PBL116).
A little bit of digging has found that there are in fact three borrowers here; V** P****** 1 LTD (PBL117), 1 - 5 P******* GROVE LTD (PBL118), V** P****** 3 LTD (PBL116). They are all owned by the same parent company (V** D*********** PLC).
Some serious ringfencing going on here by the parent company.
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locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
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Post by locutus on Jun 22, 2016 21:15:33 GMT
A charge has appeared on the companies house website for the company we discussed in the valuation reports (V** P****** 3 LTD), but for only one of the loans securities (PBL116). A little bit of digging has found that there are in fact three borrowers here; V** P****** 1 LTD (PBL117), 1 - 5 P******* GROVE LTD (PBL118), V** P****** 3 LTD (PBL116). They are all owned by the same parent company (V** D*********** PLC). Some serious ringfencing going on here by the parent company. Good find. SPVs are fairly standard practice I think. Nothing unusual about their usage.
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Post by earthbound on Jun 22, 2016 21:24:16 GMT
i thought this was already common knowledge being as in all 3 descriptions it states ...
'A recent development which has been undertaken by the Borrower was P****** Court, W********** Street W********'
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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 22, 2016 21:26:26 GMT
A charge has appeared on the companies house website for the company we discussed in the valuation reports (V** P****** 3 LTD), but for only one of the loans securities (PBL116). A little bit of digging has found that there are in fact three borrowers here; V** P****** 1 LTD (PBL117), 1 - 5 P******* GROVE LTD (PBL118), V** P****** 3 LTD (PBL116). They are all owned by the same parent company (V** D*********** PLC). Some serious ringfencing going on here by the parent company. Good find. SPVs are fairly standard practice I think. Nothing unusual about their usage. That is true, and I'm happy to see it from an investor POV (one failed project won't affect the other projects). There is something else; there is still 2 outstanding charges on both PBL117 & PBL116, one being by the parent company the other by a separate finance company. The SS charge has only just been added, so I hope the other disappear soon.
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SteveT
Member of DD Central
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Post by SteveT on Dec 22, 2016 11:16:13 GMT
All three of these loans now repaid (more or less on term!)
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ianj
Member of DD Central
Posts: 656
Likes: 520
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Post by ianj on Dec 22, 2016 12:13:07 GMT
All three of these loans now repaid (more or less on term!) Was there any notice of repayment given? Nothing mentioned in any email I've received, nor in the cumulative loan update thread. Now have more idle cash than anticipated.  Of course, there's just a slight possibility that I wouldn't have treated any repayment prediction as total 'gospel' anyway!
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Liz
Member of DD Central
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Post by Liz on Dec 22, 2016 12:40:21 GMT
All three of these loans now repaid (more or less on term!) Was there any notice of repayment given? Nothing mentioned in any email I've received, nor in the cumulative loan update thread. Now have more idle cash than anticipated. Of course, there's just a slight possibility that I wouldn't have treated any repayment prediction as total 'gospel' anyway! Probably because if they had stated they were going to repay and it got delayed, they would have got a kicking on here. I'm sure you will find something tasty on the SM
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mickj
Member of DD Central
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Post by mickj on Dec 22, 2016 12:55:19 GMT
I was surprised to see the repayment, busy morning for SS, I was in and out of credit and finished in. The 'tasty' SM loans still going quicker than I can move around the screen, nice to see allsorts shifting tho.
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ianj
Member of DD Central
Posts: 656
Likes: 520
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Post by ianj on Dec 22, 2016 13:26:50 GMT
Was there any notice of repayment given? Nothing mentioned in any email I've received, nor in the cumulative loan update thread. Now have more idle cash than anticipated. Of course, there's just a slight possibility that I wouldn't have treated any repayment prediction as total 'gospel' anyway! Probably because if they had stated they were going to repay and it got delayed, they would have got a kicking on here. I'm sure you will find something tasty on the SM Yes, they're now 'damned if they do and damned if they don't', and, as I was implying earlier, whatever they say is now given the 'sodium' treatment. While I've seen numerous 'tasty' morsels on the SM, anything young and tender is, as usual, devoured before consumption can be achieved. Cash now withdrawn. If nothing else, the decision about where the tax-man's 'Christmas box' will come from may have already been made for me.
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