adrianc
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Post by adrianc on Jan 9, 2017 14:57:33 GMT
good analysis there. this one is a 12%er for a reason. is it was a straightforward low risk proposal you would be getting 10% or 11% but you are getting 12% which is saving streams highest risk banding interest rate. No, this is a horrible toxic mess in comparison to SS's normal 12%ers. Frankly, I'm amazed that savingstream have even listed it, it's so laughable. I'd pay to watch that try and get under Hammersmith Bridge. Even with the masts folded down.  
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jan 9, 2017 15:03:35 GMT
good analysis there. this one is a 12%er for a reason. is it was a straightforward low risk proposal you would be getting 10% or 11% but you are getting 12% which is saving streams highest risk banding interest rate. No, this is a horrible toxic mess in comparison to SS's normal 12%ers. Frankly, I'm amazed that savingstream have even listed it, it's so laughable. I'd pay to watch that try and get under Hammersmith Bridge. Even with the masts folded down. Can't they come in the other end.... 
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adrianc
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Post by adrianc on Jan 9, 2017 15:08:13 GMT
No, this is a horrible toxic mess in comparison to SS's normal 12%ers. Frankly, I'm amazed that savingstream have even listed it, it's so laughable. I'd pay to watch that try and get under Hammersmith Bridge. Even with the masts folded down. Can't they come in the other end.... D'oh. I never thought of that...
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elliotn
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Post by elliotn on Jan 9, 2017 15:18:29 GMT
This on the surface reminds me of Christchurch: 12%, 365 days, enticingly low ltv's.
And historical/ongoing PP challenges...
Then you sighhh as this is SS and you have to go to Landbay for lower risk property deals!
The delays/costs for remedial work on the detached Surrey property that contravened PP is cautionary.
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seeingred
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Post by seeingred on Jan 9, 2017 15:27:38 GMT
As far as I can see from a list of planning history, change of use of the main building itself to a single family dwelling (from restaurant) was withdrawn in 2012 and never subsequently reapplied for. Later planning applications are for change of height, access, gates etc etc.
There is the additional planning issue of residential use of moorings, similar to Christchurch caravans.
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guff
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Post by guff on Jan 9, 2017 15:28:46 GMT
Can't they come in the other end.... D'oh. I never thought of that... Haven't <removed> Sailing Club got a slipway?
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Post by eascogo on Jan 9, 2017 17:08:07 GMT
Wouln't mind bying the lot as an investment. Price on application [POA], anyone enquired? Worth looking at the Daily Mail 11.08.16 article for the photos alone. But my wife thinks it's just too gaudy so wouldn't move in. Ideal bachelor's pad then.
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adrianc
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Post by adrianc on Jan 9, 2017 17:42:52 GMT
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Jeepers
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Post by Jeepers on Jan 9, 2017 17:51:52 GMT
Barge pole loan. Can't quite remember why but I think it was @cooling_dude that highlighted a problem and we all raced to the fire exit and sold up (PBL 97).
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Post by d_saver on Jan 9, 2017 18:02:59 GMT
What I don't understand with this loan is why all the applications for change of use from restaurant to single family dwelling were withdrawn in 2012 and seemingly not-reapplied for? No-one would buy this knowing they could not legally leave in it? As someone else pointed out, as far as I can see, there has been no application since to turn it into a dwelling. I'm not sure how easy change of use from/to residential is, but surely you'd think they would have applied some time ago, before putting it on the market?
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SteveT
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Post by SteveT on Jan 9, 2017 18:12:27 GMT
The valuation states (on page 7) that "The property comes under the Use Class of C3 - Dwelling Houses". Are you suggesting that the valuation is incorrect in this regard?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 9, 2017 18:20:48 GMT
Also, in the Valuer's Report, under "Approach To Valuation" and "Matters Affecting The Valuation" there's not a dicky whatsoever about any outstanding, let alone contentious, Planning issues. So there aren't any, right?! :-)
I'm not in the property business but surely if there are any Planning issues outstanding they should and must be mentioned in any half decent Valuation?
Forget holding your nose, you're gonna need a gas mask for this one methinks.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 9, 2017 18:23:25 GMT
The valuation states (on page 7) that "The property comes under the Use Class of C3 - Dwelling Houses". Are you suggesting that the valuation is incorrect in this regard? It doesnt appear to be supported by any obvious planning consent on the planning portal. All the applications referring to it were withdrawn, probably due to issues with the other aspects of the plans (raising building, balcony etc) There are subsequent successful applications for these matters but no apparent reference to the change of use.
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Post by d_saver on Jan 9, 2017 18:24:33 GMT
I don't know really. That is what I am trying to find out.
If you search the local authorities planning applications, you can put in the postcode and find them all. They are listed by property and this one is listed along with all (I assume) the applications. If you look at all the applications that were for change of use, they appear to all have been withdrawn some time ago. There were several. All the applications since are for the works, but I can see no further application that actually grants permission from change of use from the restaurant to the single family dwelling. Perhaps it was decided this was not needed/required, or perhaps it is simply not showing here for some reason, or I may simply be looking in the wrong place (I'm new to this).
The last application for change of use I can see is title "The change of use of the <removed> to a single-family dwelling (Use Class C3: Dwelling Houses), ", but it was "withdrawn by the applicant 16/05/2012". The last update on the site for this property is 30/03/2016, but in between there are no further change of use applications I can see.
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Post by trentenders on Jan 9, 2017 18:39:49 GMT
All I could find was one about bum slapping....
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