SteveT
Member of DD Central
Posts: 6,871
Likes: 7,915
|
Post by SteveT on Sept 15, 2018 15:52:21 GMT
Only 169 people per square mile, but also 169 midges per square inch.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Sept 15, 2018 23:27:40 GMT
Only 169 people per square mile, but also 169 midges per square inch. Surprisingly not this year took American friend from Barra outer Hebrides to Stornaway never saw 1 midge and I had bought every defensive device in preparation. From bracelets and citronella spray to electric tennis racket device. Cost a fortune. They were as scarce as JC at a barmitzvah.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Sept 15, 2018 23:33:01 GMT
If you want to pay more tax come live in Scotland. 19%, 20%, 21% or 40% Take your pick. Also lower pay before thay kick in. On the plus side. You can still buy a flat under 10K linkor 15 Bedroom 25 acre house for price of a 3 bedroom house in Peckham link
Sounds like less tax to pay than in the UK if it only goes up to 40% ? And that castle is incredible. Almost worth living there for..... We do have the higher rate. Few Scots pay it. We have very good high tax avoidance scheme. We don’t earn enough Or we can of course buy up half the forests they are tax deductible
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Dec 18, 2018 16:02:03 GMT
6 hours ago (18/12/18) We have now received full details of refinancing which would cover all current debt, including extended accrued interest. Although we have received confirmation from the borrower's solicitor that the refinance is expected to complete shortly - until funds actually arrive it is not guaranteed. We will continue to apply pressure to the borrower and will update once additional information is available.
|
|
adrian77
Member of DD Central
Posts: 3,894
Likes: 4,122
|
Post by adrian77 on Dec 18, 2018 17:03:44 GMT
Have checked this address on google - does not look the same house to me - am I being thick?
Also house has clearly been extended and the work does not look ideal to me
As to imminent refinancing ,well we have heard that one before and I guess it is subject to a structural survey etc
Wonder if the first charge holders have been paid because if not this one is not going to be pretty...prove me wrong FS!
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Mar 25, 2019 13:15:05 GMT
fundingsecure1084530215..Bearing in mind your last update 24/03/18 I note that you have now had receivers retained for almost a year, while this purported refinance is completed. You also state that the borrower is continuing to pay 'small amounts' as a sign of good faith. How much longer is this situation going to be allowed to continue before time is called. Moreover, who is paying for the cost of these receivers?
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Sept 10, 2019 12:13:14 GMT
16 mins ago 10/10/19 "We have been in contact with the borrowers broker who has confirmed a new refinance application is currently underway (the previous source of refinance did not progress) and we will continue to provide updates throughout this process" How many refinances are we on now I wonder..this has been going on for 18 months. fundingsecure What did the receiver achieve ?..is he/she still being retained and if so, who is paying for it ? What happened to this arrangement ? ...25/05/18 "Borrower has paid part of the interest due and has committed to continual payments Where is the interest that was paid ? How much longer do investors have to put up with this farce ?
|
|
adrian77
Member of DD Central
Posts: 3,894
Likes: 4,122
|
Post by adrian77 on Sept 10, 2019 12:27:25 GMT
or to put into English - "the last re-finance application was rejected (hardly surprising as the borrowing is 19 months late on this loan) and the borrower is desperately trying to find another lender stupid enough to take this one on". Total loan against this house is £770K + interest which I think is more than the house is worth. I am not sure what recovery action FS have actually done - I suspect very little which is meaningful. I just can't see this one coming good but hopefully not as bad as some others...
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Oct 18, 2019 10:04:20 GMT
1 hour ago 18/10/19 We have been advised by the Borrower that the refinancing application is still ongoing in order to repay the capital in full and part of the interest.
A further update will be posted once we are in receipt of confirmation of the refinance and the final numbers.
10/09/2019
We have been in contact with the borrowers broker who has confirmed a new refinance application is currently underway (the previous source of refinance did not progress) and we will continue to provide updates throughout this process
25/05/18.. "Borrower has paid part of the interest due and has committed to continual payments" 24/03/19..."In the meantime, the borrower has continued to pay small amounts - insufficient to renew the loan but made as a sign of good faith. These funds are held in our client account pending the final outcome.
So..another month passes and another meaningless update. Valued in 2016 @ £1.2m ..1st charge £270K..2nd charge (FS) £503K.. receivers instructed 18 months ago and yet still no refinance..other than the fact FS admits that there wont be a full recovery of interest, how much longer before that also applies to capital ?
|
|
|
Post by mrclondon on Nov 13, 2019 15:45:17 GMT
Loan defaulted on the website today.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Jul 28, 2020 12:55:12 GMT
UPDATE: 28/07/20 No further correspondence has been received from the borrower. In light of the current national crisis, the court and the FCA have made it clear that lenders should not repossess properties at this time. The current moratorium on possession within the court is up to 23 August 2020. In addition the FCA considers that lenders should not be seeking possession before 31 October 2020. We will consider this matter and possible proceedings following the lifting of the moratorium. F**k the bloody virus
|
|
pfffill
Member of DD Central
Posts: 175
Likes: 206
|
Post by pfffill on Jul 28, 2020 13:15:13 GMT
UPDATE: 28/07/20 No further correspondence has been received from the borrower. In light of the current national crisis, the court and the FCA have made it clear that lenders should not repossess properties at this time. The current moratorium on possession within the court is up to 23 August 2020. In addition the FCA considers that lenders should not be seeking possession before 31 October 2020. We will consider this matter and possible proceedings following the lifting of the moratorium. F**k the bloody virus What right farooking Charlies we are being made to look. This exemplary case of Funding F*ckup should be put on the curriculum of Borrowers' Dodges 101 at the Administrators Academy.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Jul 28, 2020 16:46:28 GMT
One doesn't need granny's tea leaves to deduce that while there's still money to be made by some and small fortunes to be lost by others, this administration is heading for an anniversary. Covid-19 has been the icing on the cake..for some.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Dec 17, 2020 13:30:08 GMT
Loan Reference: 1084530215 An update has just been added to a loan that you have an investment in. UPDATE: 11.05 17/12/20 As you may be aware, due to COVID-19, there have been restrictions in place surrounding enforcement action and possession proceedings. Whilst we are now able to take steps to commence possession proceedings, there remains a moratorium in place until 31 January 2021 (which may be extended), whereby full possession cannot be granted. As such, the receivers are dealing with instructed solicitors to take the relevant steps to take possession. An update will be provided, once available in the new year. Goodness knows what will be left on this by the time its sorted. Shame really as it sits in a decent area of Coventry with many similar substantial properties. If I recall a report on its condition was favourable too. Sadly all too often, introduce the FS element, and what ostensibly was a fair punt, ends up like this. p.s. Note to self and others...reading back on the thread this borrower seems to have made more than one payment in good faith..supposedly being held in the "client account"..oh dear ..wonder where that/they are
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Apr 1, 2021 16:03:48 GMT
FundingSecure 6 bedroom house in Coventry- Renewal & Consolidation - Loan Update Loan Reference: 1084530215 An update has just been added to a loan that you have an investment in. UPDATE:
The possession hearing was heard on 1 April 2021, whereby a deadline was granted to allow the borrower to file and serve a Defence and any counterclaim by no later than 4pm on 22 April 2021. FS in return have a deadline to file and serve a reply to the Defence by no later than 4pm on 20 May 2021. The matter will then be listed for a further hearing on the first available date after 3 June 2021.
NB..Does this tie in with an unknown hearing mentioned recently ?
|
|