PBL130 - S********* Holiday Park - LIVE
Aug 31, 2016 15:37:02 GMT
MONEY, locutus, and 4 more like this
Post by cooling_dude on Aug 31, 2016 15:37:02 GMT
LIVE LOAN
PLEASE NOTE : This post (and all my DD posts) are no longer being updated by myself (besides the basic loan status)
Loan Information & Observations
Borrower - L*** V******* W***** Limited
Many thanks to ilmoro for his contributions
If you require any citation for the above information please feel free to PM me.
| TOTAL | Holiday Home 1 | Holiday Home 2 | Holiday Home 3 | |||
| Loan Amount | : | £ | 354,000 | N/A | N/A | N/A |
| Security Value | : | £ | 590,000 | 170,000 | 170,000 | 250,000 |
| SS Indicated LTV | : | 60% | N/A | N/A | N/A | |
| 90 Day Market Valuation | : | £ | 470,000 | 135,000 | 135,000 | 200,000 |
| LTV Based on 90 day Market Valuation | : | 75% | N/A | N/A | N/A | |
| Term | : | 365 days | N/A | N/A | N/A |
PLEASE NOTE : This post (and all my DD posts) are no longer being updated by myself (besides the basic loan status)
Loan Information & Observations
Borrower - L*** V******* W***** Limited
- The above company was established on 16 March 2016. However, it is an SPV; the parent company is L*** V******* Limited which was established September 2012.
- SS state that the above company own and have developed holiday homes in the local area and are looking to expand around this area. I'm guessing they are referring to the parent company.
- The sole director of this company is A**** F**********. She is attached to 5 companies as director (not the above parent company); all of the companies she is attached to were established in 2016.
Loan
- This loan is connected to PBL126 by two common directors (via the parent company)
- SS state that our borrower will be purchasing the three holiday homes to run as long-term investments (although the exit plan does indicate that they are willing to sell two of the three holiday homes).
Security & Valuation Report
Exit Strategy
- Three Holiday homes in S******** Holiday Park
- Interestingly, there is a brochure on the PBL035 overview that is about this Holiday Park (SS using it to reference that loans borrowers past experience). Despite this, there seems to be no connection between this loans borrower, and PBL035's borrower. SS have confirmed (via a user here) that PBL130 and PBL035 concern two different borrowers.
Exit Strategy
- The borrower is looking to sell two of the assets to a SIPP provider who has shown interest in the properties as part of their investments portfolio and L*** V******* W***** Limited will keep one of them after clearing the debt.
| Code Number Assigned | : | 31/08/16 |
| Loan went live @ | : | 30/09/16 |
| Allocation | : | £200 |
| Amount of Investors @ Live | : | 1904 |
Many thanks to ilmoro for his contributions
If you require any citation for the above information please feel free to PM me.
