Three property loans - 1088623814, 2858386575, 4371079444

kielbasa
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Three property loans - 1088623814, 2858386575, 4371079444 Jun 17, 2019 18:22:00 GMT michaelc and james21 like this

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Post by kielbasa on Jun 17, 2019 18:22:00 GMT

I've tried to be imaginative with the asterisks (mods please feel free to amend).

Wa***n ****k Road, Faul***s F**** & I** H*u** R***, *t***

Last update on these three loans was on 14 May 2019:

"The Borrower has provided us with a proposal as promised. Our Directors will review the proposal within the next 48 hours when a further update will be posted."

That was just under five weeks ago.

Was the proposal so bad that FS do not dare post an update?

james21 Member of DD Central Posts: 651 Likes: 669	Three property loans - 1088623814, 2858386575, 4371079444 Jun 17, 2019 18:32:20 GMT adrian77 likes this Quote Select Post Deselect Post Link to Post Back to Top Post by james21 on Jun 17, 2019 18:32:20 GMT Typical FS, just a joke, suggest you ask them. As for asterisks its not criss cross quiz you know, the odd one is fine, dont overdo it

rogerthat Member of DD Central Posts: 2,048 Likes: 1,994	Three property loans - 1088623814, 2858386575, 4371079444 Jun 17, 2019 19:40:38 GMT ozboy, beepbeepimajeep, and 2 more like this Quote Select Post Deselect Post Link to Post Back to Top Post by rogerthat on Jun 17, 2019 19:40:38 GMT Better still..post the unredacted version on DD ..of which I see you're a member .. As they currently say on the Sky Bet tv ad...'hasta la vista.. asterisk'
	Last Edit: Jun 17, 2019 19:41:13 GMT by rogerthat

adrian77
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Three property loans - 1088623814, 2858386575, 4371079444 Jun 17, 2019 21:08:47 GMT

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Post by adrian77 on Jun 17, 2019 21:08:47 GMT

Just checked the excellent DD done on these and possibly other related loans - words fail me - have FS learnt nothing e.g. funding speculative building projects is for specialists and not for amateurs in this field. Clearly there is always the possibility ,no matter how remote, that there are wide boys in this development game who are playing Russian Roulette with OUR money

I read from one of the loans

They required the funds to refinance existing debt (i.e. borrow money at 20% to repay existing debt !) before refinancing onto long term development funding. Refinance is still ongoing but is expected to complete during the period of this loan - well that hasn't happened!

I may be wrong but I can see well over £0.5m going south yet again!

petrichory
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Three property loans - 1088623814, 2858386575, 4371079444 Jun 24, 2019 0:25:57 GMT adrian77 likes this

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Post by petrichory on Jun 24, 2019 0:25:57 GMT

Jun 17, 2019 18:22:00 GMT kielbasa said:

Was the proposal so bad that FS do not dare post an update?

21/06/2019 - With recent unsuccessful attempts to contact the Borrower, we are currently reviewing both the proposal and our position. If we feel that further action is necessary, we will take the appropriate steps and Investors will be updated accordingly.

No update would have been better than whatever that is. (ㆆ_ㆆ)

I believe the borrower may have fallen down one of the coal mining shafts at the property with lapsed planning permission.

Three property loans - 1088623814, 2858386575, 4371079444

Post by kielbasa on Jun 17, 2019 18:22:00 GMT

Post by james21 on Jun 17, 2019 18:32:20 GMT

Post by rogerthat on Jun 17, 2019 19:40:38 GMT

Post by adrian77 on Jun 17, 2019 21:08:47 GMT

Post by petrichory on Jun 24, 2019 0:25:57 GMT