cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
|
Post by cooling_dude on Dec 21, 2016 18:15:37 GMT
LIVE LOAN
|
|
| ------------------ | c------------------
| ------------------
| ------------------
| ------------------
| ------------------
| ------------------
| ------------------
|
|
|
| @ 1st Tranche
22/12/16
| @ 2nd Tranche
06/02/17
| @ 3rd Tranche 09/03/17 | @ 4th Tranche 11/04/17 | @ 5th Tranche 26/04/17 | @ 6th Tranche 10/05/17 | @ 7th Tranche 27/05/17 | @ 8th Tranche >TBD< |
|
|
|
|
|
|
|
|
|
|
| | Loan Amount | : | £ | 3,504,787
| 493,213
| 512,725
| 1,198,591
| 515,215
| 1,041,170
| 555,678
|
| | Gross Dev. Value | : | £ | 17,947,003*
| 17,947,003*
| 17,947,003*
| 17,947,003*
| 17,947,003*
| 17,947,003*
| 17,947,003*
|
| | SS Indicated LTGV | : |
| 20%* | 22%* | 25%* | 32%
| 35%
| 40%
| 44%
|
| Current Value
| : | £ | 1,910,000* | Unknown | Unknown
| Unknown
| Unknown
| Unknown
| Unknown
|
| Current LTV
| : |
| 183%* | Unknown
| Unknown
| Unknown
| Unknown
| Unknown
| Unknown
|
| | 90 Day Market Valuation | : | £ | 1,010,000*
| Unknown
| Unknown
| Unknown
| Unknown
| Unknown
| Unknown
|
| | LTV Based on 90 day MV | : |
| 347%*
| Unknown
| Unknown
| Unknown
| Unknown
| Unknown
| Unknown
|
| | Term | : |
| 365 days
| 319 days | 288 days | 256 Days
| 243 Days
| 227 Days
| 365 Days
|
| % PA
| : |
| 12% | 12%
| 12% | 12%
| 12%
| 12%
| 12%
|
|
*High demand for units evident with 77 units already exchanged with deposits taken. For 13 of these 77 units there are unilateral notices (UNs). In view of the UNs being in place, SS have discounted the GDV (I have discounted the MV, LTV, 90day MV & 90day LTV) by the amount of the deposits taken (£2.99m) so that the LTV is always calculated on this reduced value.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Dec 21, 2016 22:01:50 GMT
The SS overview contains an error
It states that the parent company (P**** S*** Developments Ltd) is 100% owned by a director. This used to be true (K**** T********) but in 2015 he transferred his 100% share to P******** developments Inc - a Nevada (USA) company
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Dec 21, 2016 22:13:15 GMT
This is also of interest cooling_dude , which effectively makes this loan a 14th charge, with £2.99m of charges in front of ours. *High demand for units evident with 77 units already exchanged with deposits taken. For 13 of these 77 units there are unilateral notices (UNs). In view of the UNs being in place, SS have discounted the GDV (I have discounted the MV, LTV, 90day MV & 90day LTV) by the amount of the deposits taken (£2.99m) so that the LTV is always calculated on this reduced value. |
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Dec 21, 2016 22:16:07 GMT
This is also of interest cooling_dude , which effectively makes this loan a 14th charge. *High demand for units evident with 77 units already exchanged with deposits taken. For 13 of these 77 units there are unilateral notices (UNs). In view of the UNs being in place, SS have discounted the GDV (I have discounted the MV, LTV, 90day MV & 90day LTV) by the amount of the deposits taken (£2.99m) so that the LTV is always calculated on this reduced value. Already in my OP - word for word... funny that  Let's hope the development goes well - especially considering that those UNs make the current LTVs rather high...
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 21, 2016 22:17:33 GMT
The SS overview contains an error It states that the parent company (P**** S*** Developments Ltd) is 100% owned by a director. This used to be true (K**** T********) but in 2015 he transferred his 100% share to P******** developments Inc - a Nevada (USA) company , Do you think this is this just a copy/paste problem or a significant error? (i.e. from the investor's (our) point of view.)
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Dec 21, 2016 22:20:47 GMT
The SS overview contains an error It states that the parent company (P**** S*** Developments Ltd) is 100% owned by a director. This used to be true (K**** T********) but in 2015 he transferred his 100% share to P******** developments Inc - a Nevada (USA) company , Do you think this is this just a copy/paste problem or a significant error? (i.e. from the investors (our) point of view.)
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Dec 21, 2016 22:26:09 GMT
This is also of interest cooling_dude , which effectively makes this loan a 14th charge. *High demand for units evident with 77 units already exchanged with deposits taken. For 13 of these 77 units there are unilateral notices (UNs). In view of the UNs being in place, SS have discounted the GDV (I have discounted the MV, LTV, 90day MV & 90day LTV) by the amount of the deposits taken (£2.99m) so that the LTV is always calculated on this reduced value. Already in my OP - word for word... funny that Let's hope the development goes well - especially considering that those UNs make the current LTVs rather high... I hadn't spotted it in the loan details until you pointed it out just now, I was actually thinking the loan was the same as before, but clearly there is a big difference between the old and new loan. This taken from the new loan description: *High demand for units evident with 77 units already exchanged with deposits taken. For 13 of these 77 units there are unilateral notices (UNs) which protect the individual unit purchasers' purchase contracts (and ultimately, the sums paid pursuant to those contracts) which have been registered (or are in the course of being registered) on the Land Registry title in advance of our legal charge. In view of the UNs being in place we have discounted the GDV by the amount of the deposits taken (£2.99m) so that the LTV is always calculated on this reduced value.
|
|
|
|
Post by Deleted on Dec 21, 2016 22:33:05 GMT
PIPELINE LOAN - Due To Go Live 22/12/16 (Thursday)
|
|
| ------------------ | ------------------
|
|
|
| @ 1st Tranche
22/12/16
| @ 2nd Tranche
> TBD <
| | Loan Amount | : | £ | 3,504,787
|
| | Gross Dev. Value | : | £ | 17,947,003*
|
| | SS Indicated LTGV | : |
| 20%* |
| Current Value
| : | £ | 1,910,000* |
| Current LTV
| : |
| 183%* |
| | 90 Day Market Valuation | : | £ | 1,010,000*
|
| | LTV Based on 90 day MV | : |
| 347%*
|
| | Term | : |
| 365 days
|
| % PA
| : |
| 10% |
|
I believe the rate is 12% ....
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Dec 21, 2016 22:34:13 GMT
PIPELINE LOAN - Due To Go Live 22/12/16 (Thursday)
|
|
| ------------------ | ------------------
|
|
|
| @ 1st Tranche
22/12/16
| @ 2nd Tranche
> TBD <
| | Loan Amount | : | £ | 3,504,787
|
| | Gross Dev. Value | : | £ | 17,947,003*
|
| | SS Indicated LTGV | : |
| 20%* |
| Current Value
| : | £ | 1,910,000* |
| Current LTV
| : |
| 183%* |
| | 90 Day Market Valuation | : | £ | 1,010,000*
|
| | LTV Based on 90 day MV | : |
| 347%*
|
| | Term | : |
| 365 days
|
| % PA
| : |
| 10% |
|
*High demand for units evident with 77 units already exchanged with deposits taken. For 13 of these 77 units there are unilateral notices (UNs). In view of the UNs being in place, SS have discounted the GDV (I have discounted the MV, LTV, 90day MV & 90day LTV) by the amount of the deposits taken (£2.99m) so that the LTV is always calculated on this reduced value. I believe the rate is 12% .... ....And swiftly changed
|
|
|
|
Post by Deleted on Dec 21, 2016 22:44:41 GMT
I believe the rate is 12% .... ....And swiftly changed Would need to be with a LTV of 347%
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Dec 22, 2016 10:22:53 GMT
Just gone live
At least 6k allocation
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Dec 22, 2016 10:23:26 GMT
Now live. My £6k pre-fund was allocated in full (pleasantly surprised!)
{crossed with CD}
|
|
jcb208
Member of DD Central
Posts: 838
Likes: 638
|
Post by jcb208 on Dec 22, 2016 10:25:03 GMT
Yep me to had 8K in old got 8K in new
|
|
|
|
Post by fiatlender on Dec 22, 2016 10:26:53 GMT
Prefunded £10k, got £10k.
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Dec 22, 2016 10:29:50 GMT
Perhaps a fair few lenders in PBL092 assumed their holdings would be rolled over ...
|
|
