mikes1531
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Post by mikes1531 on Dec 9, 2017 19:41:29 GMT
But still no indication from Lendy Support of what the maximum size of the loan might be, so they could allow the loan to grow to 100% LTV -- or even higher -- if they wanted to and we'd have no grounds to complain. As far as I'm concerned, Lendy are asking us to buy a pig in a poke, so I'm not interested -- and I'm amazed that anyone else might be!
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elliotn
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Post by elliotn on Dec 10, 2017 2:29:31 GMT
But still no indication from Lendy Support of what the maximum size of the loan might be, so they could allow the loan to grow to 100% LTV -- or even higher -- if they wanted to and we'd have no grounds to complain. As far as I'm concerned, Lendy are asking us to buy a pig in a poke, so I'm not interested -- and I'm amazed that anyone else might be! For dfl I’m using 70% gdv as Ly’s historical max (without any indication not safer to assume anything lower...and might only be lifted for a future extension anyway!).
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Post by notascooby on Dec 11, 2017 18:00:15 GMT
Away from the pure finance side, I actually know this area and have camped up the road several times. I am not invested myself and feel free to use or bin this a suits. The M*** Site is not actually D************, which is on the banks of the Loch Ness and has the monster museum, a piping school and many, many seasonal cafes. I also bought really bad fish and chips there. The site is heading into the glens away from the loch. There are several small camping sites then a bit of a gap until the one at Ca****h. M******** is a little way into this gap.
The woods and rough fields are pleasant but very midgie ridden in season. Especailly when it is wet. Which is quite a lot. The glen tends to be the province of keen walkers and walking touriss going towards Glen Affric. Not many of the campsites up that way have a lot of permanent lodges. At Ca****h there is a large art deco hotel that has been for sale for years and closed due to lack of business.
In the glen I am not sure there is much rental market outside high summer. Finding a lodge or permanent site is not that hard. There are plenty for sale.
On the plus side, lodge owners in the Highlands are often townies who come out every school holiday and weekend until the end of Autumn.
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Post by swissbankers on Dec 11, 2017 19:34:15 GMT
It's showing 440 investors, any idea what the maximum allocation was?
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sj
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Post by sj on Dec 13, 2017 18:50:13 GMT
Tranche 5 in the pipeline already, bloody hell they spent that last tranche quickly!
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Post by skint4achange on Dec 13, 2017 19:48:03 GMT
Not of course forgetting that the borrower is not a UK national and has limited UK assets (Coincidence???)
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MONEY
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Post by MONEY on Dec 13, 2017 21:18:13 GMT
Just under £70k went to the SM so it's safe to assume there wasn't one due to the tranche being undersubscribed. Did that £70k get subsequently withdrawn and the Loan Amount adjusted downwards, do you know? My records for the Tranche launches don't tie up with amount shown by roughly the amount of the latest tranche. Hmm - Tranche 4's loan value, £329,022, (AFAICS) went unchanged when removed/merged with the main loan today, so you would think Tranche 5 was an additional funding request. But, according to my back-of-the-envelope figures, the sums don't add up, even if, as you suggest, Tranche 5 has been originated from an unsubscribed slice of Tranche 4. 27 Oct 2017 Main loan's value after T3 got merged = £549,051
Tranche 4 ='d £329,022
13 Dec 2017 Main loan's value after T4 got merged = £809,250 (expected £878,073)The difference between the expected and listed main loan's value is £68,823. Tranche 5's loan value is £63,550. Does any of this coincide with your own figures, or has my grey matter had an early night?
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elliotn
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Post by elliotn on Dec 14, 2017 2:34:57 GMT
Does any of this coincide with your own figures, or has my grey matter had an early night? Perhaps Lendy prefer a full pipeline over a filling SM  I wondered if re-launching unfilled tranches was linked to Ly not holding loan parts, avoiding underwriter fees and trying not to step on existing loan sellers’ toes (by substantial Q jumping), slapping the lippy 💄 on a new tranche in the hope investors will re-galvanise their loins in the interim of loan ‘progression’?
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Jeepers
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Post by Jeepers on Apr 18, 2018 22:01:51 GMT
Another one extended for another 8 months. Is this standard practice now?
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elliotn
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Post by elliotn on Apr 19, 2018 2:47:42 GMT
Another one extended for another 8 months. Is this standard practice now? If there are legitimate reasons for delay, the project remains viable and there is sufficient headroom in the headline ltv, then Ly may look favourably to an extension. It's not a given though as they will still enforce a dfl where the above criteria are not met ie Exeters and talk of enforcement for dfl4 (which hopefully is more a negotiating stance).
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MONEY
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Post by MONEY on Apr 19, 2018 15:58:11 GMT
T6's loan value has been revised. And the tranche's coupon has increased to 13%pa from 11%pa. Seemingly, the rate increase does not apply to the main loan:- Revised - 19th Apr 2018:  Original - 13th Apr 2018:  |
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invester
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Post by invester on Apr 19, 2018 16:02:54 GMT
Is this the first time 13% has been seen on SS? Don't recall them breaking the seal, could be several candidates deserving of higher rates as well.
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Post by GSV3MIaC on Apr 19, 2018 18:56:12 GMT
ITYM rate increase TO 13%. Rate increases OF 13% might even wake me up...
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elliotn
Member of DD Central
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Post by elliotn on Apr 27, 2018 15:15:20 GMT
They increased the main loan from 9% to the 11% it is now. Why wouldn't they increase it all to 13%? That's what they normally do. Looks a good loan, especially at 13%. From today's update: "existing investors in this loan will get interest of 13% p.a. with effect from 1 May 2018".
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Post by mrclondon on May 8, 2018 15:34:06 GMT
Tranche 7 (£331k) has just been added to the pipeline.
Details of the site ownership and planning history are now on DD Central for those with access.
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