ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 15, 2016 18:33:07 GMT
Yet again, I'm baffled. The LTV seems to me to be quite good @ c49% based on a seemingly reasonable Vacant Possession valuation, yet this Loan is filling relatively slowly when it would ordinarily fill at a much quicker rate.
With an LTV like this these Loans usually go fast so I get jumpy that I'm missing something negative that's obvious, and everyone else has spotted!
Am I being paranoid?
Comments and enlightenment from you Very Bright Sparks out there is, as always, very much appreciated! :-)
Ta.
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fp
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Post by fp on Dec 15, 2016 18:43:54 GMT
Yet again, I'm baffled. The LTV seems to me to be quite good @ c49% based on a seemingly reasonable Vacant Possession valuation, yet this Loan is filling relatively slowly when it would ordinarily fill at a much quicker rate. With an LTV like this these Loans usually go fast so I get jumpy that I'm missing something negative that's obvious, and everyone else has spotted! Am I being paranoid? Comments and enlightenment from you Very Bright Sparks out there is, as always, very much appreciated! :-) Ta. Are you just relying on the information provided by FS, or have you done some of your own DD on this?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 15, 2016 18:54:11 GMT
Honest answer is, I'm relying on FS on this one. I do some of my own DD when I can but don't always have the time. From what you might be inferring I need to constantly delve deeper independently.
My reasoning, which is probably wrong, is that these ABP2P Platforms need to establish a solid reputation for honesty & integrity, especially regarding Valuations, if they ever want to grow and eventually float?
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fp
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Post by fp on Dec 15, 2016 19:37:45 GMT
Honest answer is, I'm relying on FS on this one. I do some of my own DD when I can but don't always have the time. From what you might be inferring I need to constantly delve deeper independently. My reasoning, which is probably wrong, is that these ABP2P Platforms need to establish a solid reputation for honesty & integrity, especially regarding Valuations, if they ever want to grow and eventually float? Its always worth doing some of your own DD if you have time, even if its just a case of comparing similar property prices in the area, checking to see how much the one you are contemplating investing in was sold for the last time it was sold, maybe checking the planning permission, check companies and directors out at CH to see if they have been insolvent in the past etc, etc... I'm sure it will fill, but anyone thinking of making a big investment will do quite a lot of in depth DD, this takes time. Its a 415k loan which will take a bit of filling and nobody will be feeling a need to rush, it will only take a couple of big investments and anyone holding back will likely pull their finger out.
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michaelc
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Post by michaelc on Dec 15, 2016 21:15:11 GMT
Agree with that but made difficult when the address is redacted. Maybe or maybe not, I'll get round to searching the area for nurseries that seem to match the description... And maybe that barrier to DD is putting some folk off?
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Post by fundingsecure on Dec 16, 2016 10:10:30 GMT
Due to the fact that this is a children's nursery we have redacted the details to avoid direct identification. For the same reason there are no pictures of the outside of the property
As with most things it is possible to find the details if you really wish to search, but we prefer to err on the side of caution.
If any individual investor wants additional information please contact us directly.
FundingSecure
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mason
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Post by mason on Dec 16, 2016 11:33:56 GMT
Agree with that but made difficult when the address is redacted. Maybe or maybe not, I'll get round to searching the area for nurseries that seem to match the description... And maybe that barrier to DD is putting some folk off? I would have thought the filename of the valuation report would give anyone enough to go on (edit: now redacted, but plenty of geographical information within to narrow in on the right one... for now at least. Hope the nursery doesn't feel the need to redact their website, which identifies them not only to prospective FS lenders, but also the whole world!)
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michaelc
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Post by michaelc on Dec 16, 2016 18:56:24 GMT
Agree with that but made difficult when the address is redacted. Maybe or maybe not, I'll get round to searching the area for nurseries that seem to match the description... And maybe that barrier to DD is putting some folk off? I would have thought the filename of the valuation report would give anyone enough to go on (edit: now redacted, but plenty of geographical information within to narrow in on the right one... for now at least. Hope the nursery doesn't feel the need to redact their website, which identifies them not only to prospective FS lenders, but also the whole world!) Yes there is enough information and I never claimed otherwise, but that doesn't change the fact that it is more time consuming that had it been non-redacted. FS's comment makes sense though - thanks for that.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Dec 16, 2016 21:04:35 GMT
5 lots of £50k, 2 to the same investor, soon helps things fill. Wonder how much will be on sm at -2% when it comes live?-0
Some investors will have been burnt by other nusery investments that are in trouble elsewhere. Difference is that this loan is valued on a buildings only basis.
It would be an interesting one to repo on if it comes to it.
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mason
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Post by mason on Dec 17, 2016 5:51:03 GMT
I would have thought the filename of the valuation report would give anyone enough to go on (edit: now redacted, but plenty of geographical information within to narrow in on the right one... for now at least. Hope the nursery doesn't feel the need to redact their website, which identifies them not only to prospective FS lenders, but also the whole world!) Yes there is enough information and I never claimed otherwise, but that doesn't change the fact that it is more time consuming that had it been non-redacted. FS's comment makes sense though - thanks for that. What more could you want than the name, address and postcode of the business? And it wasn't even necessary to open the file to get that information. Looking at the filename is a lot less time consuming than reading the report. FS slipped up on that one, but quickly renamed the file just prior to the loan filling.
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locutus
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Post by locutus on Dec 17, 2016 9:21:50 GMT
Some investors will have been burnt by other nusery investments that are in trouble elsewhere. Difference is that this loan is valued on a buildings only basis. Which nursery loans are in trouble out of interest?
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Post by wildlife2 on Dec 17, 2016 14:04:51 GMT
Perhaps the other nursery loans are for baby plants
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Liz
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Post by Liz on Dec 17, 2016 14:13:40 GMT
Some investors will have been burnt by other nusery investments that are in trouble elsewhere. Difference is that this loan is valued on a buildings only basis. Which nursery loans are in trouble out of interest? Maybe they mean the "garden centre", but i'm sure that will turn out to be fine!
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mikes1531
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Post by mikes1531 on Dec 19, 2016 1:25:35 GMT
5 lots of £50k, 2 to the same investor, soon helps things fill. Wonder how much will be on sm at -2% when it comes live?-0 stub8535: Why do you think anyone would invest in a loan and immediately put parts up for sale at a discount?
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mikes1531
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Post by mikes1531 on Dec 19, 2016 1:27:42 GMT
Maybe they mean the "garden centre", but i'm sure that will turn out to be fine! Liz: About as sure as you are that Santa will be coming down your chimney next weekend?
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