PMF Loans | P2P Independent Forum

PMF Loans Nov 3, 2016 21:56:53 GMT

Quote

Post by j on Nov 3, 2016 21:56:53 GMT

Nov 3, 2016 21:19:29 GMT Steerpike said:

Looking at SPV60 for example it appears that PM take some large bites of revenue from day one.

Acquisition costs are shown as £5,497.79 including an undisclosed "finance fee" payable to PMF as well as £2,334.50 standard PM fee, making nearly £8k of the total other costs of just over £11k. There is also a £1,125.00 provision fund which I believe remains with PM if it is not required for repairs during the term of the project.

This seems to add up to quite a large chunk on top of a property that cost £37.5k.

Also, I don't understand why the total cost shown £49,020.00 is £441.94 more than the sum of the property price and other costs/charges.

I looked at that as well & was a little taken aback with associated costs. To mitigate, I've decided to take my first, small, chunk into the current PMF loan that seems to be taking ages to fill up. That way, you've somewhat covered yourself & have a bite at both ends, so to speak