total loans secured over property£320,000.00 LTV: 55.7%
Term: 12 Months
purpose: Invest cash into the clients business.
planned exit: Sale of the security property
Last Sold: £235,000 24 Mar 2006
From Nationwide House Price Calculator (from my 4 BTL this is the most accurate calculator I have found based on the index): Valuation date 1 (Q1 2006): £235,000 Valuation date 2 (Q3 2016): £453,959 Percentage change: 93.17%
Valuation *could* be closer to 70% LTV using these figures.
There are however a number of sales in the same postcode that roughly match the valuation given by BC but more digging needed. I'm approaching my limit on p2p with not enough loans I don't want to keep to build the funds for this so I will probably hold back on BC purely on my personal diversification strategy.
Interesting, however, "Greater London" is quite a broad brush.
Yes agreed, that's why I've now edited with recent sales comment, the LTV is probably closer to the recent valuation obtained by BC and actually the low index figure only adds positively. Ecen with lower figures and general values it's still clearly below 70% LTV which gives more confidence in the security.