cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on Nov 16, 2016 15:32:22 GMT
LIVE LOAN
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| ------------------ | ------------------
| ------------------
| ------------------
| ------------------
| ------------------
| ------------------
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| @ 1st Tranche
17/11/16
| @ 2nd Tranche
c01/12/16
| @ 3rd Tranche c23/12/16
| @ 4th Tranche 26/01/17 | @ 5th Tranche 01/03/17 | @ 6th Tranche 24/04/17 | @ 7th Tranche TBD |
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| | Loan Amount | : | £ | 626,611
| 31,835
| 48,934
| 200,186
| 120,053
| 52,857
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| | Gross Dev. Value | : | £ | 1,800,000
| 1,800,000
| 1,800,000
| 1,800,000
| 1,800,000
| 1,800,000
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| | SS Indicated LTGV | : |
| 35% | 37% | 39% | 50%
| 57%
| 60%
|
| Current Value
| : | £ | 750,000
| Unknown | Unknown
| Unknown
| Unknown
| Unknown
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| Current LTV
| : |
| 84% | Unknown
| Unknown
| Unknown
| Unknown
| Unknown
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| | 90 Day Market Valuation | : | £ | 650,000
| Unknown
| Unknown
| Unknown
| Unknown
| Unknown |
| | LTV Based on 90 day MV | : |
| 96% | Unknown
| Unknown
| Unknown
| Unknown
| Unknown
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| | Term | : |
| 365 days
| 351 days
| 328 days
| 295 days
| 261 days
| 206 days |
| % PA
| : |
| 12% | 12%
| 12%
| 12%
| 12%
| 12% |
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LittleBear
Member of DD Central
Posts: 98 
Likes: 76
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Post by LittleBear on Nov 16, 2016 16:02:22 GMT
Do we know if PBL119 will be repaid, rolled over into DFL009 or remain unaffected by DFL009 going live, please?
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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 Nov 16, 2016 16:04:32 GMT
Do we know if PBL119 will be repaid, rolled over into DFL009 or remain unaffected by DFL009 going live, please? placed a post HERE about how the old loan will be handled Old loan is to be repaid, so make sure you set your pre-funding to account for this. 
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LittleBear
Member of DD Central
Posts: 98
Likes: 76
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Post by LittleBear on Nov 16, 2016 16:08:23 GMT
Thanks, cooling_dude, I haven't had time to keep up with reading the forum recently, so feel I've been missing out on important info! |
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Post by supernumerary on Nov 16, 2016 16:34:43 GMT
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jamesc
Member of DD Central
Posts: 447
Likes: 253
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Post by jamesc on Nov 16, 2016 16:43:39 GMT
I think that range is a bit optimistic could be lower than £300 but not more than £400, Pbl119 being repaid, 12%, 365 days all spell low allocation although having said all that I don't like the loan much never got involved in PBL119 but a good place to park cash as will sell on the SM in seconds.
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am
Posts: 1,495
Likes: 601
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Post by am on Nov 16, 2016 17:55:19 GMT
If I'm reading the details correctly the ultimate LT(GD)V is 55%-60%. But SS's commitment(?)/prediction is "Funding will remain within 70% of the Gross Development Value for the development of £1.8m."
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Post by ohjames on Nov 16, 2016 18:15:24 GMT
PIPELINE LOAN - Due To Go Live 17/11/2016 (Thursday)
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| ------------------ | ------------------
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| @ 1st Tranche
17/11/16
| @ 2nd Tranche
> TBD <
| | Loan Amount | : | £ | 626,611
|
| | Gross Dev. Value | : | £ | 1,800,000
|
| | SS Indicated LTGV | : |
| 35% |
| Current Value
| : | £ | 750,000
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| Current LTV
| : |
| 84% |
| | 90 Day Market Valuation | : | £ | 650,000
|
| | LTV Based on 90 day MV | : |
| 96% |
| | Term | : |
| 365 days
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| % PA
| : |
| 12% |
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Is the current LTV @84% a cause for caution on this one? Looks like we're lending against future projected development value...
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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 Nov 16, 2016 18:53:04 GMT
PIPELINE LOAN - Due To Go Live 17/11/2016 (Thursday)
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| ------------------ | ------------------
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| @ 1st Tranche
17/11/16
| @ 2nd Tranche
> TBD <
| | Loan Amount | : | £ | 626,611
|
| | Gross Dev. Value | : | £ | 1,800,000
|
| | SS Indicated LTGV | : |
| 35% |
| Current Value
| : | £ | 750,000
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| Current LTV
| : |
| 84% |
| | 90 Day Market Valuation | : | £ | 650,000
|
| | LTV Based on 90 day MV | : |
| 96% |
| | Term | : |
| 365 days
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| % PA
| : |
| 12% |
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Is the current LTV @84% a cause for caution on this one? Looks like we're lending against future projected development value... SS indicated LTV may be a tad optimistic considering the borrower only paid 600k for the site, and (AFAICS) no further PP or work has been carried out. SS would prefer that you concentrate on the GDV; personally, I keep an eye on both. I would prefer to see the LTV close to 70%, but it's also important to remember that it could (initially) rise as the developers start to knock down some walls.
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Post by rooster on Nov 16, 2016 22:01:25 GMT
PIPELINE LOAN - Due To Go Live 17/11/2016 (Thursday)
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| ------------------ | ------------------
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| @ 1st Tranche
17/11/16
| @ 2nd Tranche
> TBD <
| | Loan Amount | : | £ | 626,611
|
| | Gross Dev. Value | : | £ | 1,800,000
|
| | SS Indicated LTGV | : |
| 35% |
| Current Value
| : | £ | 750,000
|
| Current LTV
| : |
| 84% |
| | 90 Day Market Valuation | : | £ | 650,000
|
| | LTV Based on 90 day MV | : |
| 96% |
| | Term | : |
| 365 days
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| % PA
| : |
| 12% |
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Is the current LTV @84% a cause for caution on this one? Looks like we're lending against future projected development value... Yes it seems to me to be of great concern. If purchaser defaults on loan one month in and SS forced recovery of asset/property, they couldn't afford the resale value (£750k) of the property to drop very much at all before it infringed on investor's investments.
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Post by bhafcseagull on Nov 16, 2016 22:15:50 GMT
Yes it seems to me to be of great concern. If purchaser defaults on loan one month in and SS forced recovery of asset/property, they couldn't afford the resale value (£750k) of the property to drop very much at all before it infringed on investor's investments. Am I totally wrong in thinking all interest payments if the loan repays on time is already in the SS coffers as it's wrapped up into the full loan?
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fp
Posts: 1,008
Likes: 853
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Post by fp on Nov 16, 2016 22:33:34 GMT
Yes it seems to me to be of great concern. If purchaser defaults on loan one month in and SS forced recovery of asset/property, they couldn't afford the resale value (£750k) of the property to drop very much at all before it infringed on investor's investments. Am I totally wrong in thinking all interest payments if the loan repays on time is already in the SS coffers as it's wrapped up into the full loan? Yes, that's supposedly how it works, A problem may arise though should it default at an early stage and the asset not realise enough to repay the debt, with no definitive angle (officially) as to what the provision fund may or may not cover, you should always be wary
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Nov 17, 2016 3:53:10 GMT
The allocation projection range, IMHO, may be somewhere between £300 to £650... I think that range is a bit optimistic could be lower than £300 but not more than £400... My initial thought was £600, but if the initial LTV doesn't put some people off we could have nearly 3000 investors prefunding. So I'll reduce my guess to £400-500.
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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 Nov 17, 2016 15:22:27 GMT
Just gone live (and PBL119 repaid)
£400 allocation
1973 Investors @ Live
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dovap
Member of DD Central
Posts: 467
Likes: 410
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Post by dovap on Nov 17, 2016 15:34:02 GMT
Slightly surprised there's not more investors given
the relative recent dearth and misleading optimistic ltv
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