Nice people thread 2 - now even nicer

fc123

silvercar wrote: »

lir, sounds like you may be needing a commercial loan or a business loan rather than a straightforward mortgage?

I remember back in the 90's commercial property coming up freehold and you had to have a min 50% deposit and paid over the odds on IR too.

I look back at the prices and they seem so low and the repayments were affordable and less than the rents we were paying yet we couldn't even touch it...catch 22, paying full rent and never being able to save 50% of the price in cash.

silvercar

fc123 wrote: »

I remember back in the 90's commercial property coming up freehold and you had to have a min 50% deposit and paid over the odds on IR too.

I look back at the prices and they seem so low and the repayments were affordable and less than the rents we were paying yet we couldn't even touch it...catch 22, paying full rent and never being able to save 50% of the price in cash.

Catch 22, you need to have loads and then the banks are happy to give you more. You need to create a good business plan and make a long list of assets, then tell the bank you are going to them first as you are loyal. So its like an opportunity for them rather than you are desperate.

I do know of someone who loaded their current account with family money for weeks, then went to the bank and told them they could fund themselves but would prefer a loan to ease cash flow. The bank gave the loan, they then returned the family money and got the business going.

When we set up the business we upscaled the business plan and asked for more than we needed. They gave us less, but the less was enough to get us started.

Could you offer any security against a property? Or take an unsecured loan?

lostinrates

OK, sorry not to have got back to all the really helpful advice here!

Yes, we are looking for a commercial loan, but land purchases are less straightfoward, no buildings means fewer people are prepared to loan on land itself. Have been going through agricultural brokers. Lots have closed down in the last few months...usually just after we get an AIP with them! the big boys have significant confusion within their depts atm it seems to me. I'm sure it was easy than this when I did it before.

I don't want to go into to much detail about what we're doing on the forum. I'm sorry, I know that's really frustrating for nosy chums! Not to put to much focus on it we can do over 50% (we can probably go short term 70% plus) but its more complicated with ag planning involved too, we need a three year plan you see.....I won't go into details, but one has to show significant profit after third year. Its all very convoluted: one sees why so many established people are able to tax dodge with this amount of twist and turn in the system.

Mobile home has always been the initial plan for us FC, but.....as always, its not that simple!

Go to conrad? Are you kidding? I put too much detail on the forum about my own life & finances without needing his help! Perhaps Conrad will be clearer bout he explanation of land lending though...I'm not here to argue the lender's case about not lending on land. I would have gone to Gen, but he's not in UK, or dabbling in loans anymore. Poop.

lostinrates

OK, I just deleted a post by accident;

FC I laughed my pants off about you and ginger. Hence forth Pink Whistley is y Creative manager, and Special old horse is Logistics Manager.

Sj I missed ya too.

Wage slave, congrats? Are we in it?

Second old girl-horse gave me the fright of my life this morning, thought she was on her way out. She was lying on the floor and let me hug her (she is most definitely not a huggy sort of horse, nor a trusting one, so being able to get near her lying down was a bit odd and worrying)Went to get a headcollar to bring her in and then couldn't catch her for her hooning around. so all seems ok.

carolt

wageslave wrote: »

I been offered 30k as an advance on a book.

I phoned up and they thought I was complaining. They actually apologised and went on about the present economic climate

Fantastic!! Well done. That sounds a lot - you must write popular/very good stuff.

One of my brothers is a novelist but he gets quite a lot less than that per advance.

What a clever lot we all are on this forum.

What with you and fc and her mega-business, and silvercar and her multiple phones...I shall have to up my game, or I won't be able to keep company with you lot.

In awe.

lostinrates

carolt wrote: »

Fantastic!! Well done. That sounds a lot - you must write popular/very good stuff.

One of my brothers is a novelist but he gets quite a lot less than that per advance.

What a clever lot we all are on this forum.

What with you and fc and her mega-business, and silvercar and her multiple phones...I shall have to up my game, or I won't be able to keep company with you lot.

In awe.

Advances I know of vary a lot though. Carolt, if I could get an advance I'd definitely write a book for you.

Writing seems a lot easier than agriculture ATM! edit: particularly bad mood as the season for one of what I plan to be the main lines of my income started this week and I have NO FLIPPIN' premises. And while I can't do it some one else is nabbing my potential clients.

carolt

Please do - I enjoy your daily installments immensely, and I'm positive a book would be snapped up.

Do take my word for it - I edited my brother's first novel (aged about 11, I think); it's dedicated to me as a result.

And it did get published.

What I like does sell.

lostinrates

carolt wrote: »

Please do - I enjoy your daily installments immensely, and I'm positive a book would be snapped up.

Do take my word for it - I edited my brother's first novel (aged about 11, I think); it's dedicated to me as a result.

And it did get published.

What I like does sell.

I'm too grumpy to type anything other than my general friendliness today.

michaels

I always think having a Tory poster probably increases the odds of your drive becoming the local dog-walkers favourite doggie toilet spot, and probably the risk of a brick through the window depending on the area.

sjaypink wrote: »

I have been genuinely amazed. Seen 1 tory garden sign. 30+ labour. I really quite dislike the local labour candidate, so I'm a bit peed off TBH

michaels

Not moving house - what a good idea - if I had realised what it entailed 6 months ago I would definitely never have done it...

sjaypink wrote: »

No nothing major, just general tidying up, since I've decided I will now live in this house, under-occupying , til I'm about 87, I thought it was time to get round to those odd jobs I've been putting off