averageguy
Member of DD Central
Posts: 1,188 
Likes: 895
|
Post by averageguy on Jun 11, 2018 22:23:56 GMT
Anyone any immediate thoughts on this latest offering
|
|
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
|
Post by ilmoro on Jun 11, 2018 22:34:27 GMT
LTV looks high, particularly against current MV which I think is more than 100% as the loan is £4m (tranche 1) though hard to tell without any form of IMS report to give current status
Two more tranches to come after 1 & 2 months so they are going to have to build quick to keep the LTV to 70%
Suspect there are lots of UNs ranking ahead of our charge given they have reduced the GDV by £13m to take account of presales/deposits. Is this money ring fenced or funding the development.
Whole thing seems some what vague and poses questions. If it was double digits I might consider it.
Believe there are links to loans on FS through directors/ex directors. Not one of the more obvious PBSA suspects though they probably know them & have a familiar address where P2P borrowers hang out.
Edit: Actually just looked at the development update and its well advanced ... steel up, floors in, partions on top floors done, electrics under way, block floors 50% done, drainage done
|
|
averageguy
Member of DD Central
Posts: 1,188
Likes: 895
|
Post by averageguy on Jun 11, 2018 23:17:34 GMT
LTV looks high, particularly against current MV which I think is more than 100% as the loan is £4m (tranche 1) though hard to tell without any form of IMS report to give current status
Two more tranches to come after 1 & 2 months so they are going to have to build quick to keep the LTV to 70%
Suspect there are lots of UNs ranking ahead of our charge given they have reduced the GDV by £13m to take account of presales/deposits. Is this money ring fenced or funding the development.
Whole thing seems some what vague and poses questions. If it was double digits I might consider it.
Believe there are links to loans on FS through directors/ex directors. Not one of the more obvious PBSA suspects though they probably know them & have a familiar address where P2P borrowers hang out.
Edit: Actually just looked at the development update and its well advanced ... steel up, floors in, partions on top floors done, electrics under way, block floors 50% done, drainage done
They mention its been used to peer fund the development
|
|
