SteveT
Member of DD Central
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Post by SteveT on Sept 4, 2017 16:22:03 GMT
Collateral Rep , will COL also be funding the development of this site and, if so, how will future development loan tranches rank versus this first loan? Thanks.
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ali
Member of DD Central
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Post by ali on Sept 4, 2017 16:26:10 GMT
Can you also please clarify the effects of splitting the loan into four as regards cashback? Ie., will the four loans be aggregated internally for the purposes of calculating cashback?
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btc
Member of DD Central
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Post by btc on Sept 4, 2017 16:29:31 GMT
The last two will add upto £420,000
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btc
Member of DD Central
Posts: 193
Likes: 132
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Post by btc on Sept 4, 2017 16:30:26 GMT
Can you also please clarify the effects of splitting the loan into four as regards cashback? Ie., will the four loans be aggregated internally for the purposes of calculating cashback? Most likely no, they are separate loans
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Post by Collateral Rep on Sept 4, 2017 16:43:40 GMT
Hi SteveT, Any development loans will rank behind the initial bridge loan which has been split into 4 parts. Many thanks, Gordon |
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Post by Collateral Rep on Sept 4, 2017 16:47:48 GMT
Hi ali, We split this loan into 4 parts to help with liquidity for investors but they are all linked so Cashback will be calculated based on combined investments on all 4 loans. So if for example £12,500 was invested in each of the 4 loans it would total £50,000 and receive cashback at a rate of 3%. Many thanks, Gordon |
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Post by Collateral Rep on Sept 4, 2017 16:51:11 GMT
Hi @hor1997,
The reason for listing all 4 loans at the same time is that we have noticed investors invest in all loan parts when we have done this before. So it was to save time and not have to keep checking when the next part was available.
Many thanks,
Gordon
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GeorgeT
Member of DD Central
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Post by GeorgeT on Sept 4, 2017 16:54:59 GMT
W********** Development Site, ******* Street, G**** H*******, Lancs
Security Value: £1,300,000.00
Loan Amount: £210,000.00
% PA: 13%
Loan to Value (LTV): 65.00%
Loan Start Date: 04/09/2017
Time Remaining: 182 days
CASHBACK INCENTIVE ON THIS LOAN:
Cashback only applies to the Primary Market, once the loan is fully funded and the Secondary Market is active, cashback will not be applied to loan parts bought. Cashback will be paid to investors the day after drawdown.
For Investments of £0.00 - £4,999.99 – 0.25 Cashback
For Investments of £5,000.00 - £9,999.99 – 0.5 Cashback
For Investments of £10,000.00 - £24,999.99 – 1.0 Cashback
For Investments of £25,000.00 - £49,999.99 – 2.0 Cashback
For Investments of £50,000.00 - £99,999.99 – 3.0 Cashback
For Investments of £100,000.00 + – 4.0 Cashback
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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 Sept 4, 2017 16:57:00 GMT
Bottom Line - Are the Valuers reputable, and does the "Market Value Freehold Site Vacant Possession - We are of the opinion that the Market Value of the Freehold site on a Vacant Possession basis with the benefit of the planning permission is the sum of £1,300,000." stack up?
Or is it the usual toilet paper?
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btc
Member of DD Central
Posts: 193
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Post by btc on Sept 4, 2017 17:10:01 GMT
Bottom Line - Are the Valuers reputable, and does the " Market Value Freehold Site Vacant Possession - We are of the opinion that the Market Value of the Freehold site on a Vacant Possession basis with the benefit of the planning permission is the sum of £1,300,000." stack up? Or is it the usual toilet paper? You are getting confused with fundingsecure
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daveb4
Member of DD Central
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Post by daveb4 on Sept 4, 2017 17:12:19 GMT
Bottom Line - Are the Valuers reputable, and does the " Market Value Freehold Site Vacant Possession - We are of the opinion that the Market Value of the Freehold site on a Vacant Possession basis with the benefit of the planning permission is the sum of £1,300,000." stack up? Or is it the usual toilet paper? This is obviously important however they still bought it for £750k? The valuation is £1.3 m which I think is based on build cost including their 22% profit margin (which is high nowadays - could be seen as a good leeway?) and what is left is the value of the land eg £1.3m. We need some better number crunchers on the valuation than me. As normal we will only know if the valuation is good at the end or ideally sooner when 65/70% of the properties are sold 
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
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Post by ilmoro on Sept 4, 2017 17:16:31 GMT
Bottom Line - Are the Valuers reputable, and does the " Market Value Freehold Site Vacant Possession - We are of the opinion that the Market Value of the Freehold site on a Vacant Possession basis with the benefit of the planning permission is the sum of £1,300,000." stack up? Or is it the usual toilet paper? You are getting confused with fundingsecure No, he is on a mission when it comes to valuations - any platform, any time the same repeated post will appear. Now we have the obligatory ozboy comment we can get on with the assessment of the proposal 
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Post by elephantrosie on Sept 4, 2017 18:34:47 GMT
Hi SteveT , Any development loans will rank behind the initial bridge loan which has been split into 4 parts. Many thanks, Gordon so would col be funding the development loans?
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Post by Collateral Rep on Sept 4, 2017 18:41:21 GMT
Hi @new2p2p,
I've added it as a separate attachment to all loan parts.
Many thanks,
Gordon
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greatmarko
Member of DD Central
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Post by greatmarko on Sept 4, 2017 18:42:42 GMT
Yeah, not filling very fast is it?(!) ...I can see this one being bumped up to 14% in the next day or so. It's fair to say that there's far more appetite for "bling" than for property on COL |
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