cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
|
Post by cooling_dude on Feb 25, 2017 13:39:54 GMT
2x LIVE LOANS
|
|
| xxxxxxxxxxxx | xxxxxxxxxxxx
|
|
|
| PBL163 | PBL164
| | Loan Amount | : | £ | 1,085,000
| 1,400,000
| | Security Value | : | £ | 1,550,000
| 2,800,000
| | SS Indicated LTV | : |
| 70% | 50%
| | 90 Day Market Valuation | : | £ | 1,320,000
| 2,400,000
| | LTV Based on 180 day Market Valuation | : |
| 82% | 58% | | Term | : |
| 183 days | 183 days
| % PA
| : |
| 10% | 10% |
|
|
ganymede
Member of DD Central
Posts: 304
Likes: 211
|
Post by ganymede on Feb 25, 2017 13:52:35 GMT
E-mail just come through about these two. Also repaying PBL136 today.
|
|
|
|
Post by Deleted on Feb 25, 2017 14:17:14 GMT
E-mail just come through about these two. Also repaying PBL136 today. No matter how many times I tell hotmail SS emails are not spam, every last one keeps going in there. Are they trying to tell me something? If it wasn't for the forum notifications I'd miss everything ....
|
|
GeorgeT
Member of DD Central
Posts: 1,322
Likes: 1,576
|
Post by GeorgeT on Feb 25, 2017 14:41:53 GMT
I'm afraid 10% isn't enough to tempt me. My minimum rate is 11% on SS. I admit to have invested in a couple of 11% loans but 10% is a step too low for me.
Apart from my opinion that 10% isn't commensurate with the level of risk for the loans and platform, I have concerns about liquidity on the SM, particularly in view of the imminent changes. I'm sure loans paying 12% will catch the eye of SM buyers ahead of 8%, 9% or 10% loans.
Of course with the dearth of new loans at 12% this raises the inevitable prospect of one's holding in SS reducing steadily as existing loans get closer to their maturity dates., and in 6 months time I wonder if I will have much left invested on SS at all.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Feb 25, 2017 14:49:29 GMT
E-mail just come through about these two. Also repaying PBL136 today. No matter how many times I tell hotmail SS emails are not spam, every last one keeps going in there. Are they trying to tell me something? If it wasn't for the forum notifications I'd miss everything .... Have you added the SS e-mail address to your contact list?
I'm guessing yes... but if not, try it out... It often works with net based mail services.
|
|
kermie
Member of DD Central
Posts: 691
Likes: 462
|
Post by kermie on Feb 25, 2017 17:27:16 GMT
We've seen loans based on security on the same site before on AC - anyone recall how that ended and if this is the same borrower?
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 25, 2017 17:37:54 GMT
We've seen loans based on security on the same site before on AC - anyone recall how that ended and if this is the same borrower Discussed on the Pipeline thread As I read it, the borrower was a PITA causing the platform a headache, but the loan was fully recovered in the end
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Feb 26, 2017 15:28:55 GMT
Hmmmmmmm 10%, I suppose PBL164 looks half reasonable, if the Valuation can be trusted, among other things?  Might be tempted to wander back into SS' arms, but can I be A'd to do the SO necessary heavy duty DD in scrutinising SS' offerings? |
|
trevor
Member of DD Central
Posts: 557
Likes: 381
|
Post by trevor on Feb 26, 2017 17:09:59 GMT
I'm afraid 10% isn't enough to tempt me. My minimum rate is 11% on SS. I admit to have invested in a couple of 11% loans but 10% is a step too low for me. Apart from my opinion that 10% isn't commensurate with the level of risk for the loans and platform, I have concerns about liquidity on the SM, particularly in view of the imminent changes. I'm sure loans paying 12% will catch the eye of SM buyers ahead of 8%, 9% or 10% loans. Of course with the dearth of new loans at 12% this raises the inevitable prospect of one's holding in SS reducing steadily as existing loans get closer to their maturity dates., and in 6 months time I wonder if I will have much left invested on SS at all. Where will your money go to then? Only FS gives more.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 26, 2017 17:36:59 GMT
I'm afraid 10% isn't enough to tempt me. My minimum rate is 11% on SS. I admit to have invested in a couple of 11% loans but 10% is a step too low for me. Apart from my opinion that 10% isn't commensurate with the level of risk for the loans and platform, I have concerns about liquidity on the SM, particularly in view of the imminent changes. I'm sure loans paying 12% will catch the eye of SM buyers ahead of 8%, 9% or 10% loans. Of course with the dearth of new loans at 12% this raises the inevitable prospect of one's holding in SS reducing steadily as existing loans get closer to their maturity dates., and in 6 months time I wonder if I will have much left invested on SS at all. Where will your money go to then? Only FS gives more. MT, COL, ABL, BC and some new players like Landlordinvest(with IFISA!) & Property Crowd. All these are offer loans over 10% and several 12% loans in the mix However, alway keep an eye on the risk! That is the problem with SS; the sub 12% loans simply don't represent the risk investors take
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Feb 26, 2017 17:54:30 GMT
I went to look at the price paid data for the other Phase 1 properties, for a quick and dirty check on the valuation. The Land Registry only admits to one sale - of #21 for £250,000. This seems to be a problem, as it's part of our security. It also leaves me wondering what happened to the other 22 sales. The VR mentions two other properties on the site for sale, at £255,000 and £260,000.
|
|
bernard
Member of DD Central
Posts: 66
Likes: 24
|
Post by bernard on Feb 26, 2017 17:56:44 GMT
Perusing the AC info it appears no. 21 had been slated for sale (243k), but this subsequently fell through (Dec 15). Retaining property for investment income is of course perfectly reasonable behaviour, although the lack of a sale may sometimes indicate an inability to achieve sale prices at stated/desired levels and could therefore indicate squishiness in the valuations. Similarly from the AC post, the initial portfolio then was 17-21 as considered here PLUS units 27 and 28. This was valued at 1.25mm (2013), ie roughly at a unit price of 210k each. Even allowing for a few years general property appreciation, it seems that without the in-depth of the local property market (which I certainly don't have), the valuations feel optimistic, at least compared to the AC info.
Edit: just crossed with previous post on 250k sale listed in LR
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Feb 26, 2017 19:22:07 GMT
I went to look at the price paid data for the other Phase 1 properties, for a quick and dirty check on the valuation. The Land Registry only admits to one sale - of #21 for £250,000. This seems to be a problem, as it's part of our security. It also leaves me wondering what happened to the other 22 sales. The VR mentions two other properties on the site for sale, at £255,000 and £260,000. Looking at the VR for Phase 2 I see that comparables include the sale of 5 building plots on Phase 1 at £90,000 ea. Perhaps this explains why there are no records in the Land Registry data.
|
|
|
|
Post by 101proof on Feb 27, 2017 13:14:25 GMT
I live near this so if anyone wants updates, let me know
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Feb 27, 2017 13:41:15 GMT
I live near this so if anyone wants updates, let me know If I understand correctly this is on an old tin-mining site, and there are potential issues with soil contamination and ground stability. Looking at maps the gradient doesn't seem too bad, so stability may not be a major issue (but it has to be addressed in the plans before construction can go ahead, and I wouldn't buy a plot until it had been resolved). [The twice-overrunning Congleton loans at FC might be on a worse site, topographically.] Can you comment on these points?
|
|
