jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Jan 4, 2018 13:12:57 GMT
I'm in the fourth loan but only a very small amount. It just irritates me that FS is loaning more monies when the fourth loan is overdue.Wouldn't happen in a million years of course if it was their money. PS: Now, what was the name of the Roundhead's adversaries? Too right, and they're "laughing" all the way to the bank
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adrian77
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Post by adrian77 on Jan 4, 2018 13:27:57 GMT
FS have a duty of care to both the borrower and we lenders. I am not convinced the above reflects this - seems to be "bending it" to me in order to avoid a painful short-term decision. Another one for the smutty stick to avoid
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rogerthat
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Post by rogerthat on Jan 4, 2018 17:19:54 GMT
FS have a duty of care to both the borrower and we lenders. I am not convinced the above reflects this - seems to be "bending it" to me in order to avoid a painful short-term decision. Another one for the smutty stick to avoid Had a live chat about this earlier..funny how those in the know (at FS ) always seem to be on the phone or in a meeting ...borrowing more to pay previous borrowings seems to me nothing more than hugely risky to say the least. The fact that those loans (I have 4 of 8) which are overdue and have no updates is concerning. The remark that "your loans are still accruing interest" whilst completely overlooking the fact that it is a notional interest that hasn't actually been paid..yet... seems not to raise even an eyebrow.
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Post by charlata on Jan 4, 2018 17:35:06 GMT
FS have a duty of care to both the borrower and we lenders. I am not convinced the above reflects this - seems to be "bending it" to me in order to avoid a painful short-term decision. Another one for the smutty stick to avoid Had a live chat about this earlier..funny how those in the know (at FS ) always seem to be on the phone or in a meeting ...borrowing more to pay previous borrowings seems to me nothing more than a (rearrange the letters ) I N P O Z scheme..and I said as much. The fact that those loans (I have 4 of 8) which are overdue and have no updates is concerning. The remark that "your loans are still accruing interest" whilst completely overlooking the fact that it is a notional interest that hasn't actually been paid..yet... seems not to raise even an eyebrow. Do you know what a Ponzi scheme is? Ponzi schemes are by definition fraudulent. It might be ill-advised or even reckless to offer people the chance to lend money against an asset, but it ain't fraudulent. How is it that mentioning borrowers or even assets is off-limits, but accusations of fraud by platforms is not?
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rogerthat
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Post by rogerthat on Jan 4, 2018 17:45:50 GMT
I inadvertently placed my comment in the wrong section and have edited my statement..but I cant do anything about yours..apologies.
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chunkie
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Post by chunkie on Jan 5, 2018 12:36:05 GMT
2nd Loan (1890454918) Update today: As the refinance has taken longer than expected, we are currently raising fresh funds to pay the interest. Once the new loan has been funded (currently 55%), the loans in the second tranche will be put up for renewal in chronological order.
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mikes1531
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Post by mikes1531 on Jan 5, 2018 15:35:39 GMT
2nd Loan (1890454918) Update today: As the refinance has taken longer than expected, we are currently raising fresh funds to pay the interest. Once the new loan has been funded (currently 55%), the loans in the second tranche will be put up for renewal in chronological order. Hopefully it's just a case of sloppy writing on FS's part. If not, they don't seem to know the difference between a tranche and a facility.
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Post by charliebrown on May 16, 2018 9:57:10 GMT
Anyone any idea what’s going on here. It’s another FS loan that’s well past it’s sell by date with no useful updates. Anyone getting worried?
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Post by gaspilot on May 17, 2018 10:23:08 GMT
'We are arranging for additional security to raise further funds to pay the interest to renew this loan.'
Fingers crossed for an early renewal.
EDIT. I think that's only for the first two tranches of the first facility.
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james21
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Post by james21 on Jun 1, 2018 14:58:41 GMT
additional loan today first tranche of a 5th facility (ranks behind) you can buy plenty on the secondary market at -1% that wont rank behind the new one. This new facility is partly to obtain planning permission; the loans are nearly a year old, dont they have planning on the site? whats going on?
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goofy115
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Post by goofy115 on Jun 1, 2018 15:16:17 GMT
additional loan today first tranche of a 5th facility (ranks behind) you can buy plenty on the secondary market at -1% that wont rank behind the new one. This new facility is partly to obtain planning permission; the loans are nearly a year old, dont they have planning on the site? whats going on? 'Borrower has decided, instead, to sell. However, they wish to secure planning permission prior to sale.'Another one for Adrian's smutty stick me thinks.
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Post by df on Jun 1, 2018 22:25:37 GMT
additional loan today first tranche of a 5th facility (ranks behind) you can buy plenty on the secondary market at -1% that wont rank behind the new one. This new facility is partly to obtain planning permission; the loans are nearly a year old, dont they have planning on the site? whats going on? Had to check if I still have anything left in this loan. Nothing - sold everything. It has been going for a long time. 5th facility to obtain planning permission is not for me at any advertised rate and I don't believe in headline LTV's. I have to give this exciting opportunity a miss.
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michaelc
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Post by michaelc on Jun 11, 2018 12:45:17 GMT
Update:
Funds have been raised to cover the interest on this loan. However, loans in prior tranches must be renewed first.
I read this on the 1st facility, 1st tranche loan so not sure if there can be any prior tranches.
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r00lish67
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Post by r00lish67 on Jun 11, 2018 12:53:28 GMT
Update: Funds have been raised to cover the interest on this loan. However, loans in prior tranches must be renewed first.I read this on the 1st facility, 1st tranche loan so not sure if there can be any prior tranches. What they mean is that some tranches are prior chronologically e.g. next up for renewal should be this one: 1046662257, a 3rd facility loan, as it's the oldest active tranche. edit: Looks like I'm wrong according to SteveT's livechat below.
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Post by gaspilot on Jun 11, 2018 13:48:42 GMT
Update: Funds have been raised to cover the interest on this loan. However, loans in prior tranches must be renewed first.I read this on the 1st facility, 1st tranche loan so not sure if there can be any prior tranches. What they mean is that some tranches are prior chronologically e.g. next up for renewal should be this one: 1046662257, a 3rd facility loan, as it's the oldest active tranche. So, are they getting their tranches and facilities mixed up?
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