|
Post by fundingsecure on Dec 6, 2017 14:46:25 GMT
We have posted an update on the loan which we believe addresses these points.
|
|
|
Post by dan1 on Dec 11, 2017 17:33:22 GMT
Further update posted 20 mins ago
|
|
|
Post by mrclondon on Dec 11, 2017 17:41:09 GMT
fundingsecure whilst I've noted the statement you added to the loan regarding the status of the planning approval, is there any reason the correspondence from the council on this matter can't be attached to the loan ?
|
|
woodland
Member of DD Central
Posts: 95
Likes: 42
|
Post by woodland on Dec 14, 2017 16:20:51 GMT
Has this been withdrawn / pulled?
|
|
|
Post by mrclondon on Dec 14, 2017 16:24:03 GMT
Has this been withdrawn / pulled? Nope, 35% funded. With FS utilising underwriters when required, loans can sit around part filled for ages (and then fill rapidly).
|
|
|
Post by spareapennyor2 on Dec 14, 2017 16:29:17 GMT
update 11/12 need to see this
|
|
woodland
Member of DD Central
Posts: 95
Likes: 42
|
Post by woodland on Dec 15, 2017 13:59:14 GMT
Further update - reduced loan now being drawn, LTV <60% now.
|
|
woodland
Member of DD Central
Posts: 95
Likes: 42
|
Post by woodland on Dec 15, 2017 14:28:04 GMT
Good points, but someone now likes it. Two big loans of £75K & £60K gone through!
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Dec 15, 2017 18:00:10 GMT
"The borrower had intended to use part of the loan for other business purposes"
Thoroughly agree with new2p2p's post above..and on principle alone...I'm out..even if it was 40% LTV
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Feb 20, 2018 22:00:16 GMT
Hold your noses chaps, a lower ranking 2nd loan on this one for tomorrow. I don't think the value of the property has changed either.
Can't see the detail yet, but unless there's a solicitors undertaking that the valuer will be under penalty of guillotine if even a penny out, then I probably won't be participating.
Oh, and a second solicitor to give an undertaking that they'll waterboard the 1st solicitor in the event that that he/she tries to wriggle out of their duties.
And a 1st charge against the second solicitors house.
It's all I ask.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Feb 20, 2018 22:07:58 GMT
Hold your noses chaps, a lower ranking 2nd loan on this one for tomorrow. I don't think the value of the property has changed either. Can't see the detail yet, but unless there's a solicitors undertaking that the valuer will be under penalty of guillotine if even a penny out, then I probably won't be participating. Oh, and a second solicitor to give an undertaking that they'll waterboard the 1st solicitor in the event that that he/she tries to wriggle out of their duties. And a 1st charge against the second solicitors house. It's all I ask. Think you're gonna need a bigger smutty stick
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Feb 20, 2018 22:08:50 GMT
Hold your noses chaps, a lower ranking 2nd loan on this one for tomorrow. I don't think the value of the property has changed either. Can't see the detail yet, but unless there's a solicitors undertaking that the valuer will be under penalty of guillotine if even a penny out, then I probably won't be participating. Oh, and a second solicitor to give an undertaking that they'll waterboard the 1st solicitor in the event that that he/she tries to wriggle out of their duties. And a 1st charge against the second solicitors house. It's all I ask. I share your sentiments . If this loan fills then I will be shocked. Yet another loan on FS I will be avoiding like the plague. I have managed to lend on 1 decent loan in several weeks. I didn't bother wasting my time on the fff rollovers. It must be a game by the platforms to see who can fill the worst loan. Far better loans on the SM, even if you have to pay a premium. Non-IsA that might not be viable.
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Feb 20, 2018 22:15:11 GMT
If you do like this loan at least buy the 1st ranking on the SM @ 1% discount, returning 16%. Even for a tax payer the 1st ranking SM loan offers a higher return.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,161
Likes: 4,846
|
Post by ozboy on Feb 20, 2018 22:20:18 GMT
The end is nigh.
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Feb 20, 2018 22:24:18 GMT
If you do like this loan at least buy the 1st ranking on the SM @ 1% discount, returning 16%. Even for a tax payer the 1st ranking SM loan offers a higher return. Well, quite. The fact that the discount for the senior tranche hasn't yet moved off the 1% floor on the SM indicates just how unedifying this proposition really is. Unfortunately, the relatively small size of this new facility combined with it being 14% will probably nonetheless entice sufficient lambs to the slaughter. Still, all grist for Fundingsecure's now many and various mills.
|
|