am
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Post by am on Sept 27, 2016 15:53:32 GMT
/mod hat off Not sure I believe the old valuation, given the CAP gravy train derailment farm subsidy uncertainty after the Brexit vote (certainly seen some small signs of that impacting agricultural loans values), however at 60% LTV it looks reasonably safe, and is at least a bit of diversity vs student accommodation, or over priced London pads. As to whether SS have a couple of million quid in liquid funds, they damn well better have, because the PF is more than that. Can they use it as a float? Yeah, probably, given its discretionary nature. Will they have to? I rather doubt it. I recently saw a report of the accounts of an RSPB owned farm in Norfolk, which was making a return of approaching 10% per annum - rather higher than I expected - on the land values by paying a contractor to farm the land for them. At that level a hypothetical administrator could make a fair stab at servicing our interest on that loan. (But of course I don't know whether the same return is achievable on this land.)
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treeman
Member of DD Central
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Post by treeman on Sept 27, 2016 16:00:08 GMT
Just under £200k!! I wonder if SS have some more to trickle out later?? Coupla big bites and it's gone ..........
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treeman
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Post by treeman on Sept 27, 2016 16:14:00 GMT
Just under £200k!! I wonder if SS have some more to trickle out later?? Coupla big bites and it's gone .......... Another chunk - £262k as I type. How much more to come ?
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goopy
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Post by goopy on Sept 27, 2016 16:19:56 GMT
Coupla big bites and it's gone .......... Another chunk - £262k as I type. How much more to come ? Quite a lot I would think.....
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Post by Deleted on Sept 27, 2016 16:51:20 GMT
Another chunk - £262k as I type. How much more to come ? Quite a lot I would think..... maybe ... maybe not. 
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mikes1531
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Post by mikes1531 on Sept 27, 2016 17:12:34 GMT
I think it will be filled with no problems, maybe in tranches as it happened normally last year. It was not filled in tranches last time. Yes, it was divided into four separate loans, but all four loans were released at the same time. (Well, to be more accurate, within a few minutes of each other.)
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Post by ladywhitenap on Sept 27, 2016 19:37:19 GMT
Now marked as drawn down so I presume that it had to be fully funded for that to happen.
LW
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ben
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Post by ben on Sept 27, 2016 19:38:46 GMT
Quite a lot of people took the money and left this loan. Nearly a quater of the money was not reinvested again.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Sept 27, 2016 19:42:13 GMT
Now marked as drawn down so I presume that it is fully funded now. LW No money has been sent to the borrower (i.e. drawdown) because they already had the money, hence why it drewdown immediately. As such, I'm treating this loan as a rollover (with partial repayment), not a completely new loan.
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Post by ladywhitenap on Sept 27, 2016 19:46:47 GMT
OK CD I see what you mean but wasn't everyone paid out and all prefunds treated as new bids and some investors will still need to settle their negative balances.
So SS are just taking that risk?
LW
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mikes1531
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Post by mikes1531 on Sept 27, 2016 19:56:36 GMT
OK CD I see what you mean but wasn't everyone paid out and all prefunds treated as new bids and some investors will still need to settle their negative balances. So SS are just taking that risk? : Not quite "paid out". Investors' accounts will have been credited, but SS don't have an issue until withdrawals are requested. So they've got at least until tomorrow morning before any withdrawals actually would be made, and they probably have an idea what proportion of pre-funders actually settle their negative balances with transfers as soon as they know what their allocation is. Not to mention that SS also know how much of what was coming back from PBL77-80 was destined to go into PBL136 via pre-funding.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Sept 27, 2016 19:59:20 GMT
OK CD I see what you mean but wasn't everyone paid out and all prefunds treated as new bids and some investors will still need to settle their negative balances. So SS are just taking that risk? : Not quite "paid out". Investors' accounts will have been credited, but SS don't have an issue until withdrawals are requested. So they've got at least until tomorrow morning before any withdrawals actually would be made, and they probably have an idea what proportion of pre-funders actually settle their negative balances with transfers as soon as they know what their allocation is. Not to mention that SS also know how much of what was coming back from PBL77-80 was destined to go into PBL136 via pre-funding. Yep; they are simply hedging their bets that the repaid investors are going to either reinvest in the new loan, or on the SM (keeping the money within SS). If in the unlikely event every investor from the previous 4 farm loans wanted to withdraw their funds, my guess is that SS would have some issues...
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Oct 10, 2016 16:31:58 GMT
£100k just been put on the SM. Not going to last long... Already down to £20k
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Post by Deleted on Oct 10, 2016 16:33:15 GMT
£100k just been put on the SM. Blink, and you'll miss it!
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Post by portlandbill on Oct 11, 2016 11:01:21 GMT
£100k just been put on the SM. Blink, and you'll miss it! Damn! I did miss it!
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