cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on Nov 29, 2016 15:29:22 GMT
LIVE LOAN
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| @ 1st Tranche
30/11/16
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| @ 2nd Tranche
09/02/17
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| @ 3rd Tranche 29/03/17 |
| @ 4th Tranche >TBD< |
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| | Loan Amount | : | £ | 1,398,466
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| 93,068 |
| 109,777
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| | Gross Dev. Value | : | £ | 9,350,000
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| 9,350,000 |
| 9,350,000
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| | SS Indicated LTGV | : |
| 15% |
| 16%
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| 17% |
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| Current Value
| : | £ | 2,000,000
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| Unknown
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| Unknown
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| Current LTV
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| 70% |
| Unknown
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| Unknown
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| | 90 Day Market Valuation | : | £ | 1,200,000
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| Unknown
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| Unknown
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| | LTV Based on 90 day MV | : |
| 117% |
| Unknown
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| Unknown
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| | Term | : |
| 270 days
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| 199 days
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| 152 days |
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| % PA
| : |
| 10% |
| 10%
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| 10%
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jamesc
Member of DD Central
Posts: 447
Likes: 253
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Post by jamesc on Nov 29, 2016 15:41:22 GMT
DFL010 - Leisure Village, C****** - Due To Go Live 24/11 30/11 I think
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Post by Deleted on Nov 29, 2016 15:47:29 GMT
nicely barge-poled
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duck
Member of DD Central
Posts: 2,880
Likes: 6,964
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Post by duck on Nov 29, 2016 15:56:35 GMT
might come in handy when there is a lake involved, anybody taking a punt? 
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Post by ohjames on Nov 29, 2016 17:13:17 GMT
DFL010 - Leisure Village, C****** - Due To Go Live 24/11 30/11 I think Skimming through the details, seems the loan (1,398,000) is for more than the current 90-day forced sale value (1,200,000). At a return of 10%, I'm not sure on this one... Any enthusiasts out there?
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twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
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Post by twoheads on Nov 29, 2016 17:36:27 GMT
Doesn't float my punt.
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ped
Member of DD Central
Posts: 255
Likes: 84
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Post by ped on Nov 29, 2016 17:56:56 GMT
Is the expectation for 96 to repay and this one for new investors via the prefund? Or did I miss something.
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Post by ohjames on Nov 29, 2016 18:04:42 GMT
Is the expectation for 96 to repay and this one for new investors via the prefund? Or did I miss something. Seems so. 1st use of the funds is to repay 96.
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jamesc
Member of DD Central
Posts: 447
Likes: 253
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Post by jamesc on Nov 29, 2016 18:06:12 GMT
Is the expectation for 96 to repay and this one for new investors via the prefund? Or did I miss something. In the loan detail its says main purpose is to repay old loan but no rollover mentioned which I guess because at a lower rate.
In fact that's what's so great (NOT) about this loan, we are being are for more money at a lower rate for a shorter time on the same asset an all round good deal !!!!!!!!!!!!
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fp
Posts: 1,008
Likes: 853
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Post by fp on Nov 29, 2016 18:12:56 GMT
No, I wont be sinking anything in this lake either  |
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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 29, 2016 18:15:13 GMT
Skimming through the details, seems the loan (1,398,000) is for more than the current 90-day forced sale value (1,200,000). At a return of 10%, I'm not sure on this one... Any enthusiasts out there? It will no doubt fill, but at 117% 90 day LTV, I can't see why. Can't see why this is a 10% loan... 12% maybe (pushing it even at 12%). Not @ 10% thank you very much 
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am
Posts: 1,495
Likes: 601
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Post by am on Nov 29, 2016 18:53:59 GMT
Can anyone explain MV5? (I don't understand why MV4 is £9,350,000 and MV5 is £2,250,000.)
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adrianc
Member of DD Central
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Likes: 5,148
Member is Online
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Post by adrianc on Nov 29, 2016 19:25:40 GMT
Can anyone explain MV5? (I don't understand why MV4 is £9,350,000 and MV5 is £2,250,000.) I think... MV4 is the sale value, once developed. MV5 is the annual rental income, once developed. Sounds high to me, but...
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am
Posts: 1,495
Likes: 601
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Post by am on Nov 29, 2016 19:54:15 GMT
Can anyone explain MV5? (I don't understand why MV4 is £9,350,000 and MV5 is £2,250,000.) I think... MV4 is the sale value, once developed. MV5 is the annual rental income, once developed. Sounds high to me, but... I think not - it's described as market value, not market rent. Looking again I see the text "the Market Value of the freehold interest". Perhaps MV5 is what the site is worth when they've sold off all the lodge on long leaseholds, i.e. the value of the pub/restaurant, the fishing lakes, and the freeholds of the lodges. But it says "the property ... is let", which one would tend to interpret as meaning that the whole property is let. But my very rough estimates are that the income from rentals on the property should support a higher MV, and the ground rents should support a lower MV, so I'm led to suspect that it means with the lodges sold off on leaseholds. The general problem is the value when let depends on the terms on which it let. You can leave the capital in the property and get your money via rental incomes, or you can get capital out of the property by selling bits off on long leaseholds, and accepting a lower income from ground rents and management fees. I now have to decide whether I'm interested enough to struggle through the VR a second time.
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elliotn
Member of DD Central
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Post by elliotn on Nov 30, 2016 3:10:23 GMT
Is the expectation for 96 to repay and this one for new investors via the prefund? Or did I miss something. In the loan detail its says main purpose is to repay old loan but no rollover mentioned which I guess because at a lower rate. I certainly hope so (email normally details how to pre-fund a roll-over too) as I picked up 5 figures yesterday; haven't been in this since the Indian summer nights of September when this whole adventure started (although it may be easier if my fellow investors could simply transfer their interest to me directly  ).
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).