littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jul 27, 2016 7:50:57 GMT
Personally I think it is one of the better ones recently. Relatively easy to sell on if issues with borrower and likelihood of loss low. Defaults are to be expected in bridging loans, the quality of the asset is the most important thing and this looks fine with a first charge. I don't think anyone disagrees with that. But some of us would rather not be involved in a repossession no matter how good the security. Old hands will remember SS's first, in which no lenders lost any money but was still unpleasant.
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gurberly
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Post by gurberly on Feb 6, 2017 11:07:24 GMT
RightMove/land registry sold price in August 2016 £1.5m
Previously listed on RightMove 01/11/2016 at £2.2m
I guess no takers as currently listed with a variety of agents from circa 20 Jan at newly reduced price for offers in excess of £2.0m
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 6, 2017 11:24:42 GMT
RightMove/land registry sold price in August 2016 £1.5m Previously listed on RightMove 01/11/2016 at £2.2m I guess no takers as currently listed with a variety of agents from circa 20 Jan at newly reduced price for offers in excess of £2.0m That sold price is strange; the VR noted that the agreed sale price was £2.2m. £1.5m would be more in line with the loan (77% LTPV) Then the borrower has listed it at £2.2m... I think our borrower is trying their luck
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Post by da2279 on Jul 18, 2017 21:14:57 GMT
Up for auction on the 20th July offers in excess of £1.1m
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Post by df on Jul 18, 2017 23:51:35 GMT
Up for auction on the 20th July offers in excess of £1.1m That would at least repay the capital.
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mikes1531
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Post by mikes1531 on Jul 19, 2017 11:54:24 GMT
Up for auction on the 20th July offers in excess of £1.1m That would at least repay the capital. Only if the agreed sale price was well in excess of £1.1M. ISTM that it would have to be sold for maybe £1.3M in order to net enough to cover the £1.16M of outstanding loan capital.
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GeorgeT
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Post by GeorgeT on Jul 19, 2017 12:28:24 GMT
The 20th July is tomorrow and these auctions are often broadcast live on the internet. C_D usually manages to find a live stream so this will be great viewing.
My understanding is that completion takes place 28 days after the hammer drops and then there will be the fees and costs to sort out , but as mike1531 says, if it goes for £1.3m+ we ought to see a full payback on this one - albeit a month or 2 down the track.
On the other hand it's not a good time to be selling property so we will have to see if it sells at all.
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GeorgeT
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Post by GeorgeT on Jul 20, 2017 14:19:48 GMT
Auction Update (I caught the end of the bidding on the live online feed at about 3.15pm when this Lot came up)
The highest bid was £1,290,000.
This must have been below the Reserve Price because the auctioneer said he couldn't sell at that price.
So it remains unsold, although quite possible a deal will be done after the auction.
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elliotn
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Post by elliotn on Jul 20, 2017 14:27:10 GMT
Auction Update (I caught the end of the bidding on the live online feed at about 3.15pm when this Lot came up)The highest bid was £1,290,000. This must have been below the Reserve Price because the auctioneer said he couldn't sell at that price. So it remains unsold, although quite possible a deal will be done after the auction. First class DD, many thanks Gt. 👍🏿
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GeorgeT
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Post by GeorgeT on Jul 21, 2017 13:17:07 GMT
The agent's website shows this property as unsold and available at £1.3m.
I guess the Reserve on it was £1.3m yesterday. The highest bid was £1.29m.
One would hope that a deal can be done here, the numbers are so close.
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Balder
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Post by Balder on Jul 21, 2017 14:09:39 GMT
Auctioneers often bid up to the reserve price, so there may have been very little interest.
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micky
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Post by micky on Sept 14, 2017 12:36:53 GMT
Is anyone aware of this property going into auction today?
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micky
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Post by micky on Sept 14, 2017 12:47:13 GMT
Thanks. Would you post an update when it's all done please?
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Post by p2plender on Sept 14, 2017 12:49:16 GMT
At this speed it may be next summer...
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r1200gs
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Post by r1200gs on Sept 14, 2017 13:09:56 GMT
Thanks. Would you post an update when it's all done please? Sure  Lot 173, and currently only at 84, so a long way to go yet Ooh, that sounds exiting. Where can we see it CD?
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