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Post by mrclondon on Dec 7, 2018 16:15:16 GMT
Up for its first renewal this evening, six months overdue on a six month loan. Appears to be the same borrower as Property in B***et W******* Road which is approaching four month overdue.
This loan is supposed to be secured by second charge on a first floor flat, no nnB. Neither the land registry title documents for the leasehold flat nnB, nor for the common freehold for nnA/nnB show a charge registered by FS. Flat nnA leasehold is in different ownership and appears to be unconnected.
Note the VR claims on pg3 that the flat is freehold, which whilst technically untrue, is in effect the position given the freehold and leasehold are owned by the same individual.
fundingsecure - can you provide some reassurance about how this loan is secured given my observation regarding the land registry title documents ?
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Post by mrclondon on Dec 11, 2018 14:33:44 GMT
Hmm. After my posts about this loan late on Friday (the one above, and one on the Dec newsletter), signs of FS activity at the LR at 06:04 on Monday morning on both the leasehold and freehold titles. As it happens I wasn't aware of this when I submitted a formal complaint to FS late yesterday regarding this and several other loans where its not clear how the security has been perfected. The inference, I'm afraid, is that this loan may have been unsecured for the last 12 months. Un redacted versions are in posted in DD Central. I have to say I find it rather concerning that its taken 12 months for anyone to notice there were no charges to secure this loan noted at the LR.
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Post by mrclondon on Nov 12, 2019 13:35:20 GMT
Loan has now been formally defaulted on the website.
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Post by multiaccountmanager on Nov 15, 2019 13:12:43 GMT
Repaid in full with interest😌
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Post by defaultinator5000 on Nov 15, 2019 13:36:03 GMT
Interesting how so many loans started repaying once the administrators took control of FS. I've had more repayments this week than in the previous three months.
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Post by investor1925 on Nov 15, 2019 13:43:41 GMT
Interesting how so many loans started repaying once the administrators took control of FS. I've had more repayments this week than in the previous three months. So have I. I'd really like to withdraw the cash though !!!!!!!!!!!!!!!!
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