rogerthat
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Post by rogerthat on Jan 19, 2018 11:10:21 GMT
So who's in for todays renewal?  Anyone? Sound of pin dropping ?
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Post by df on Jan 19, 2018 11:39:00 GMT
So who's in for todays renewal? Anyone? I put a little bit in, will sell it in April and reinvest in something else.
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adrian77
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Post by adrian77 on Jan 19, 2018 11:55:08 GMT
Reading between the lines of the bobo and rOOlish67 posts I get the impression they may not be investing in this one- maybe they would if it were 2 park homes floating on a Whitehaven wooden frame and powered by an Irish turbine? At least that would get sponsorboat.
However I think a very, very important point has been overlooked - this is a highly technical advanced prototype based (I think) on waterjet propulsion of which there seems to be divided technical opinon as to its efficacy. The c*ck up with the build has left me speechless. Whatever this boat is not even built yet. Even I know you can't just build a boat, slap in the fuel and go full blast around the world expecting to set a new world world without extensive trials which doubtless costs squillions of Pounds. Surely we are talking years and not weeks here? We don't even know if the boat will cruise at the desired speed without breaking down...I note there are some large bids on this loan - the highest one when I last looked was just under 30K! All I can say is that such investors have more bottle than I have.
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ashtondav
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Post by ashtondav on Jan 19, 2018 11:56:22 GMT
So who's in for todays renewal? Anyone? I put a little bit in, will sell it in April and reinvest in something else. Sell it! Maybe with a 10% discount...
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r00lish67
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Post by r00lish67 on Jan 19, 2018 12:20:18 GMT
Reading between the lines of the bobo and rOOlish67 posts I get the impression they may not be investing in this one- maybe they would if it were 2 park homes floating on a Whitehaven wooden frame and powered by an Irish turbine? At least that would get sponsorboat. However I think a very very important point has been overlooked - this is a highly technical advanced prototype based (I think) on waterjet propulsion of which there seem to be divided technical opinon as to its efficacy. The c*ck up with the build has left me speechless. Whatever this boat is not even built yet. Even I know you can't just build a boat, slap in the fuel and go full blast around the world expecting to set a new world world without extensive trials which doubtless costs squillions of Pounds. Surely we are talking years and not weeks here? We don't even know if the boat will cruise at the desired speed without breaking down...I note there are some large bids on this loan - the highest one when I last looked was just under 30K! All I can say is that such investors have more bottle than I have. When i logged in at 11:00:01 for the daily bling, it was at 23% full which is presumably those who forgot to untick the renewal box have the utmost faith in this loan. We're now at 25%. Actually, given the significant change in terms (LTV increase above and beyond rolled up interest), wouldn't FS not normally allow a standard renewal and instead close it off and open a new loan? If I was a keen investor in the first who had ticked that box, I wouldn't necessarily be chuffed that it had been assumed that I wish to participate in a so called 70% LTV loan when I had signed up for rolling over a so called 41% LTV loan..
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Post by df on Jan 19, 2018 12:26:51 GMT
I put a little bit in, will sell it in April and reinvest in something else. Sell it! Maybe with a 10% discount... Yes, with discount if necessary. There's always some appetite for higher risk/return.
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Post by df on Jan 19, 2018 12:43:38 GMT
Reading between the lines of the bobo and rOOlish67 posts I get the impression they may not be investing in this one- maybe they would if it were 2 park homes floating on a Whitehaven wooden frame and powered by an Irish turbine? At least that would get sponsorboat. However I think a very very important point has been overlooked - this is a highly technical advanced prototype based (I think) on waterjet propulsion of which there seem to be divided technical opinon as to its efficacy. The c*ck up with the build has left me speechless. Whatever this boat is not even built yet. Even I know you can't just build a boat, slap in the fuel and go full blast around the world expecting to set a new world world without extensive trials which doubtless costs squillions of Pounds. Surely we are talking years and not weeks here? We don't even know if the boat will cruise at the desired speed without breaking down...I note there are some large bids on this loan - the highest one when I last looked was just under 30K! All I can say is that such investors have more bottle than I have. When i logged in at 11:00:01 for the daily bling, it was at 23% full which is presumably those who forgot to untick the renewal box have the utmost faith in this loan. We're now at 25%. Actually, given the significant change in terms (LTV increase above and beyond rolled up interest), wouldn't FS not normally allow a standard renewal and instead close it off and open a new loan? If I was a keen investor in the first who had ticked that box, I wouldn't necessarily be chuffed that it had been assumed that I wish to participate in a so called 70% LTV loan when I had signed up for rolling over a so called 41% LTV loan.. As far as I understand, it's not a standard renewal. This new loan (if filled) is to repay the previous loan, plus additional borrowing.
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rogerthat
Member of DD Central
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Post by rogerthat on Jan 19, 2018 13:27:48 GMT
Good grief..its been repaid  I need to go and lie down in a darkened room |
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r00lish67
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Post by r00lish67 on Jan 19, 2018 13:45:41 GMT
Good grief..its been repaid I need to go and lie down in a darkened room Cool We have seen FS pay up early before (the 2 Bristols comes to mind), but I have to say I'm surprised they have here. I can only guess that they are very confident about the remaining £675k that needs filling (at the time of writing), either through BH's, underwriters or both?
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rambler
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Post by rambler on Jan 19, 2018 13:52:31 GMT
Where has the money for the repayment come from if the new loan has not yet been filled? ... not that I mind I am glad to be out of it |
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rogerthat
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Post by rogerthat on Jan 19, 2018 14:05:22 GMT
Good grief..its been repaid I need to go and lie down in a darkened room Cool We have seen FS pay up early before (the 2 Bristols comes to mind), but I have to say I'm surprised they have here. I can only assume that they are very confident about the remaining £675k that needs filling (at the time of writing), either through BH's, underwriters or both? 2 Bristols often come to my mind too  ..but I'm certainly relieved about it. I sunk quite a few squid into this before learning about all the other maritime shipwrecks to date on the forum and I was under the impression that it was to be repaid out of the 'renewal' which judging by progress to date wont be anytime soon. God bless her and all who sail in her but it wont be me. It was also in my IFISA so a home run all round. 
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aj
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Post by aj on Jan 19, 2018 14:58:55 GMT
43% filled! It appears I underestimated peoples appetite for risk.
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Post by Deleted on Jan 19, 2018 16:39:43 GMT
Propulsion technology is not a real issue, however there are a long line of st@p@d tw@ s who go off round the world and discover that 1) it ain't half rough down in the southern oceans 2) the medical services in the same area are somewhat limited as are life boats etc 3) the amount of plastic, floating logs, large tigers in small boats, containers floating just below the service ready to rip the hull out of the thing at speed with no AA just around the corner can be daunting, after all they lost a whole airliner out there a couple of years back and still have not found it 4) that the perfectly nice man who buys you a pint in a Lymington pub has turned into a psycopath just as you cross the equater as a result you need the sort of standby services that only the bearded loon of Virgin fame can afford to do all this at 40 knots. "reading between the lines" love it. |
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adrian77
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Post by adrian77 on Jan 19, 2018 17:37:34 GMT
Ref my ealier post - from a trade magazine
excuse me - what about the cost of this jolly! (and re=welding the damn boat!)
never heard of that - interesting but not sure if this is proven technology?
Very interesting points made about ocean debris and a back-up team needed - bit different to lake Como!
However what worries me the most is that FS claimed this boat could be used as a supply vessel - I (and doubtless most of us) questioned this out of common sense and now we have Magenta24 who knows this business stating this is a complete non-starter. Well what DD did FS do to validate this claim ? The person who made it seems to be an expert in engine maintenance and runs a tiny company so I question his qualifications to make such statements. As I have said before there are lots of laws about lending money and I wonder if this statement could be regarded as a material fact in any future legal claim...
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 19, 2018 18:24:15 GMT
Multitudinous Thumbs Up to you adrian77. The accompanying Loan statements to solicit our funds are getting wilder & wilder, and are now beyond ludicrous. Anyone who ever believed even for a nanosecond that this tub could actually be used to do the Oil Platform school run is in serious leave of their senses.
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Anyone?
I need to go and lie down in a darkened room
..but I'm certainly relieved about it. I sunk quite a few squid into this before learning about all the other maritime shipwrecks to date on the forum and I was under the impression that it was to be repaid out of the 'renewal' which judging by progress to date wont be anytime soon. God bless her and all who sail in her but it wont be me. It was also in my IFISA so a home run all round. 
