cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on Feb 7, 2017 17:19:50 GMT
LIVE LOAN
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| ------------------ | ------------------
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| @ 1st Tranche
10/02/17
| @ 2nd Tranche
> TBD <
| | Loan Amount | : | £ | 348,737
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| | Gross Dev. Value | : | £ | 3,655,000 |
| | SS Indicated LTGV | : |
| 10% |
| Current Value
| : | £ | 500,000 |
| Current LTV
| : |
| 70% |
| | 90 Day Market Valuation | : | £ | N/A |
| | LTV Based on 90 day MV | : |
| N/A
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| | Term | : |
| 456 days
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| % PA
| : |
| 9% |
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trevor
Member of DD Central
Posts: 557
Likes: 381
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Post by trevor on Feb 7, 2017 18:13:28 GMT
9% insufficient for me. This one gets £0.
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agent69
Member of DD Central
Posts: 6,049
Likes: 4,438
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Post by agent69 on Feb 7, 2017 18:44:04 GMT
9% insufficient for me. This one gets £0. Only one pipeline loan advertised at 12%, the other 3 are all at 8 / 9%. Sign of things to come?
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gurberly
Member of DD Central
Posts: 168
Likes: 98
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Post by gurberly on Feb 7, 2017 18:53:59 GMT
I can't see myself getting out of bed for this one.  |
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Feb 7, 2017 18:56:06 GMT
9% insufficient for me. This one gets £0. Only one pipeline loan advertised at 12%, the other 3 are all at 8 / 9%. Sign of things to come? which has low LTV (c50%*) on realistic and reliable valuations, when the borrower is clearly identified and shown as creditworthy by proper due diligence, and has a proven record of successful development to which I can refer when doing my own due diligence, together with a clear and credible plan for repayment at or soon after the planned term. Simples.  Now, let's have a gander! * or 50% max after all tranches have been drawn down.
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Post by onion12 on Feb 7, 2017 19:02:54 GMT
Good luck on that one
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Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
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Post by Liz on Feb 7, 2017 19:16:51 GMT
9%. Must be low risk Not long till we start seeing 7% loans  |
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am
Posts: 1,495
Likes: 601
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Post by am on Feb 7, 2017 19:32:34 GMT
The land was previously for sale at offers in excess of £595,000. The VR calculations contain a "site value" figure of £790,000, which may be what the borrower paid for it.
I see no indication of what the total facility negotiated is, and hence what meaningful LTC and LT(GD)V figures would be.
Does anyone else see conflicts between the planning permission and development plans?
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kaya
Member of DD Central
Posts: 1,150
Likes: 718
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Post by kaya on Feb 7, 2017 20:59:20 GMT
This application should be subject to a LNM report. Serious omission.
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am
Posts: 1,495
Likes: 601
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Post by am on Feb 7, 2017 21:25:30 GMT
This application should be subject to a LNM report. Serious omission. LNM report?
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Feb 7, 2017 21:30:05 GMT
9% simply doesn't work for me.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Feb 7, 2017 21:55:18 GMT
Yer a pesky bunch arnt cha! You should know by now that SS is above reproach, and all Loans they put forward are honest, trustworthy & reliable, backed up by thorough DD with full and open disclosure of ALL relevant information to potential Investors prior to going "live".
And if you put money into this one you have a hole in your head.
Of course The Lemmings will again stampede their ££££s into this one tomorra so SS cares not a jot wot we think on here.
My positions with SS continue to decrease slowly, thank you for buying my Loan Parts.
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Jeepers
Member of DD Central
Posts: 818
Likes: 721
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Post by Jeepers on Feb 7, 2017 22:17:49 GMT
9% simply doesn't work for me. Many have moaned for months that SS communication has been poor. Their response was they operated a lean business model by not employing the likes of Paul to communicate with us but this meant they could offer 12% instead of 8/9%. Now Paul and other team members are on board giving extra costs and we're seeing lower rates. Is improved communication worth a 3/4% drop in rate? Not for me, it isn't.
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paulg
Member of DD Central
Posts: 312
Likes: 189
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Post by paulg on Feb 7, 2017 22:26:43 GMT
Yer a pesky bunch arnt cha! You should know by now that SS is above reproach, and all Loans they put forward are honest, trustworthy & reliable, backed up by thorough DD with full and open disclosure of ALL relevant information to potential Investors prior to going "live". And if you put money into this one you have a hole in your head. Of course The Lemmings will again stampede their ££££s into this one tomorra so SS cares not a jot wot we think on here. My positions with SS continue to decrease slowly, thank you for buying my Loan Parts. ... slowly??? - you ozboys are brave!
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Feb 7, 2017 23:00:16 GMT
Either that or we're/I'm stupid?! Unfortunately MT & C can only soak up so much of my Withdrawals. Markets of course are at an all time high but  I'm also bunging spondoolies into my ISA with Mr Terry Smith, he who speaks eminent sense and is The Scourge Of The City. With the increasing personal DD burden caused by declining "standards" in VRs & Other Information and general lack of transparency I'm happy to get my life back and pay someone 1% to professionally manage my investments for me whilst I go out to play. |
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I'm also bunging spondoolies into my ISA with Mr Terry Smith, he who speaks eminent sense and is The Scourge Of The City. With the increasing personal DD burden caused by declining "standards" in VRs & Other Information and general lack of transparency I'm happy to get my life back and pay someone 1% to professionally manage my investments for me whilst I go out to play.