PBL159 - 3 Parcels of Land (Lancs) - LIVE

8%. Are they having a laugh or is it a new TV game show idea How Low Can We Go.

Other peer to peer lenders are available that offer higher rate of interest. When I read the comments on this forum sometimes with people moaning about this and that the communications I come to the conclusion that SS investors are masochists or else why do they invest with saving stream when there are other alternatives available which pay the same or higher rates of interest and give a better customer service

Could we have more notice of loans. Its unreasonable to have auto-bid get you tranches of poor deals like this just because you didn't visit this forum or click the pipeline tab every day.

A loan should be in the pipeline for a couple of weeks to allow proper pre-assessment.

Do agree with there JohnB and this has obviously been around at least two months as the valuation is dated 24 November 2016 so more than a days notice should have been possible. Although on the otherhand SS can't announce the loans publicly too soon in case another lending firm comes in and undercuts them having seen the borrower was looking for a loan on the SS pipeline.

Given the fast finger nature of the secondary market, auto-bid is the best way to get considered holdings, but with the only control being sum invested, you can get very different outcomes. If auto-bid had LTV and rate minima options, I'd have more confidence in it.

It will be interesting to see if the SM has a growing or declining allocation of this once autobid completes.

And what rate do you think the farmer is being charged his end?

Is the total area of land 60 acres or 53 acres (10+26+17)? At the latter extent and a price per acre of £5000, the LTV is 69%.

The land is at around 600 feet above sea level (possibly a little higher, depending on exactly where it is). Looking at Google Maps it looks likely to be decent enough grazing land, so £5,000 per acre is not obviously wrong.

I'm also not impressed by the VR discussing residential market trends, rather than agricultural land price trends. So I was inspired to look up the surveyors. I don't see why the valuation has been performed by an Essex based practice with no obvious agricultural expertise. So I'm inspired to do my own comparison.

I think one of the comparables should be Meldingscale. This is about the same altitude. I'd say that grazing at Meldingscale is generally poorer, but for purposes of comparison one would have to identify the particular plots involved.

The land at Cow Ark looks like unimproved grazing, if this can be evaluated from Google's aerial imagery.

I don't have a positive identification of Cherry Tree Farm (there's a Cherry Tree House on the map), but this is less exposed land at lower altitude (330-400 feet a.s.l) in Hodderdale.

Someone with a Land Registry subscription may be able to identify the individual fields with some degree of certainty, and offer a better analysis, but I see no obvious errors.