ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jun 15, 2017 17:55:19 GMT
The yacht is being purchased for £600,000 and the buyers are seeking a £425,000 loan. Full details will be available on the platform today midday:-
Amount: Up to £425,000
Term: 48 months (12 months minimum term)
Rate: 14% - Fully Amortising (Capital and Interest paid each month)
LTV: Up to 70.83% Security: Debenture over SPV, Charge over the yacht, Personal Guarantee
Asset Security: Tracker being installed
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Post by dan1 on Jun 15, 2017 18:01:10 GMT
The yacht is being purchased for £600,000 and the buyers are seeking a £425,000 loan. Full details will be available on the platform tomorrow midday:- Amount: Up to £425,000 Term: 48 months (12 months minimum term) Rate: 14% - Fully Amortising (Capital and Interest paid each month) LTV: Up to 70.83% Security: Debenture over SPV, Charge over the yacht, Personal Guarantee Asset Security: Tracker being installed ablrate this will be released at the same time as 10 renewals on MT (12pm being their new regular release time). Shouldn't be an issue on this size of loan but would have been had it been another 1000071 type loan.
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unmadem
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Post by unmadem on Jun 15, 2017 18:23:36 GMT
maybe the yacht could take a wee sail around ports and see if it can find any of our missing shipping containers.
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metoo
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Post by metoo on Jun 15, 2017 18:41:59 GMT
Evening ablrate , is there any plan to move to releasing loan particulars to signed-in ablrate lenders in advance of bids opening, ideally the day before? It's standard practise on other platforms I am aware of. Would it require much of a change to make it possible? An informed investment decision is essential, surely. Perhaps this loan will be large enough to allow for reading time. We'll see!
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stevio
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Post by stevio on Jun 15, 2017 21:07:50 GMT
Just wondering if this boat is being purchased new or second hand?
If it were a new car, as there is no vat on used cars, new cars lose 20% of their value when they leave the showroom. Just wondering if similar for new boat purchases?
If so and the LTV is based on vat inclusive price, it increases by 20%
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SteveT
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Post by SteveT on Jun 15, 2017 21:20:02 GMT
You don't get a new 88 foot yacht for £600k! Take a look here
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macq
Member of DD Central
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Post by macq on Jun 15, 2017 21:46:33 GMT
After doing a story about teenagers leasing luxury cars will the Daily Mail have to do a follow up on them leasing yacht's now
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Post by df on Jun 15, 2017 23:37:52 GMT
and stop off at Cowes on behalf of investors in Lendy May be Ly should consider to diversify
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Post by df on Jun 15, 2017 23:56:11 GMT
It would be very helpful if David was more specific about the time of release in his e-mail.
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metoo
Member of DD Central
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Post by metoo on Jun 16, 2017 1:25:20 GMT
It would be very helpful if David was more specific about the time of release in his e-mail. "midday"
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shuff27
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Post by shuff27 on Jun 16, 2017 5:31:59 GMT
Yachts & various other boats have been problematical loans on FS (any other FS lenders here will know this) so I'm giving this one a miss.
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nw99
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Post by nw99 on Jun 16, 2017 7:26:30 GMT
Security is fine I will be going large into the yacht loan.
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blender
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Post by blender on Jun 16, 2017 7:34:01 GMT
maybe the yacht could take a wee sail around ports and see if it can find any of our missing shipping containers. Risky. May I suggest that Ablrate has the yacht fitted with the Inmarsat Iridium tracking system. www.globeinfos.com/Default.aspx
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macq
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Post by macq on Jun 16, 2017 7:35:31 GMT
Evening ablrate , is there any plan to move to releasing loan particulars to signed-in ablrate lenders in advance of bids opening, ideally the day before? It's standard practise on other platforms I am aware of. Would it require much of a change to make it possible? An informed investment decision is essential, surely. Perhaps this loan will be large enough to allow for reading time. We'll see! Would be even more so in this case as it would be nice to know if the buyer is a business,company director or a 16 year old boy racer
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macq
Member of DD Central
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Post by macq on Jun 16, 2017 7:39:43 GMT
Just wondering if this boat is being purchased new or second hand? If it were a new car, as there is no vat on used cars, new cars lose 20% of their value when they leave the showroom. Just wondering if similar for new boat purchases? If so and the LTV is based on vat inclusive price, it increases by 20% As people seem to think it's second hand is that better or worse for holding its value over 4 years? Are there any yachting expert's out there who could say if there's a healthy second hand market or can it take a long time to sell?
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