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Post by overthehill on May 27, 2023 11:53:49 GMT
From memory, CH N** Bri* 2938283517 was a standalone loan for refurbishment, legalities still in progress even though building was sold, my old notes say 100% recovery plus interest but that is ignoring administration nuances.
There is also an unhelpfully titled CH development loan with multiple tranches and supplemental loans for 2.5M or such, I wasn't in that loan and I can't recall what it looked like or where it was.
Good memory, though the loan was for the purchase. "This is a renewal of loan ref 2807104089. This means the borrower has paid the interest to-date to extend the loan for a further 6 months This is a 6-month loan secured by a first legal charge against a property in ............ ..........The client used the funds to purchase the property and has taken out further loans totalling £1,870,000 to fund the development work on the site. This loan ranks above all other loans in the event of a default - the LTV on this loan is therefore 15.4%"The loan was £575,000 and should be covered by a recovery of 1.3 million so in theory it should be good for full capital and interest yet I am bricking it. According to one poster, at least one of these loans on this building has already paid back circa 15 percent of capital. I nearly had a heart attack when I read that! I very much doubt any of the lower priority development loans have repaid anything yet because 1) the higher priority bridging loan is still unpaid and 2) full recovery is still ongoing with regard to the borrowers. 15% might be the current expected payout for the other non-supplemental loans or the post might have been talking about a different loan. Original bridging Loan 2938283517 should be 'FS relatively safe' for full capital and interest repayment.
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r1200gs
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Post by r1200gs on May 27, 2023 12:26:05 GMT
Good memory, though the loan was for the purchase. "This is a renewal of loan ref 2807104089. This means the borrower has paid the interest to-date to extend the loan for a further 6 months This is a 6-month loan secured by a first legal charge against a property in ............ ..........The client used the funds to purchase the property and has taken out further loans totalling £1,870,000 to fund the development work on the site. This loan ranks above all other loans in the event of a default - the LTV on this loan is therefore 15.4%"The loan was £575,000 and should be covered by a recovery of 1.3 million so in theory it should be good for full capital and interest yet I am bricking it. According to one poster, at least one of these loans on this building has already paid back circa 15 percent of capital. I nearly had a heart attack when I read that! I very much doubt any of the lower priority development loans have repaid anything yet because 1) the higher priority bridging loan is still unpaid and 2) full recovery is still ongoing with regard to the borrowers. 15% might be the current expected payout for the other non-supplemental loans or the post might have been talking about a different loan. Original bridging Loan 2938283517 should be 'FS relatively safe' for full capital and interest repayment.
Yes, it seems one poster was mistaken when he claimed he had been paid a loan on this fiasco. I've been looking back at the updates, the admins have been trying to bankrupt the borrower and guarantor (same person?) forever! "C H have concluded their Compulsory Liquidation and have moved the Company to dissolution, all properties have been sold by the LPAS received and a claim for the shortfall was submitted by the Administrators of Fundingsecure Limited. Steps to make the guarantor bankrupt are ongoing."Doesn't look all that different to updates from two years ago. Not sure where the administrators think they are going to get the shortfall from, I doubt this extremely tricky barsteward is going to leave a penny laid around for the administrators. Deeply frustrating, so damned slow.
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michaelc
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Post by michaelc on May 27, 2023 12:59:01 GMT
I had some cash put in today but its not clear which loan or both. Two of my loans updated (charter house) and another smaller one. If it is mainly charter house my 15% LTV investment returned about a fifth of the capitol. Which Charter house loan is this? The priority loan of 2938283517 £575 had a recovery of 1.3 million to cover it and is still showing in my list of loans, it surely cannot return 15 percent?! My recovery is 1018041290 but I can't see what it was. Thanks to beepbeepimajeep I can see where they're coming from. And I made a mistake. I haven't received anything from any of the Charterhouse (2938283517) gamble. The returns from the past couple of days are as below. So mine so far look like this: Capital Return from loan 1168548924 26/05/2023 14:47 £0.00 +£251.61 (from £500 on Carlisle loan) Capital Return from loan 2796468189 26/05/2023 14:39 £0.00 +£4.73 (from £25 Derwent Road) Capital Return from loan 6451255949 26/05/2023 13:36 £0.00 +£146.27 (from £300 on Anglesey Lodge NOT Charter)
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rogerthat
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Post by rogerthat on May 27, 2023 22:48:15 GMT
Which Charter house loan is this? The priority loan of 2938283517 £575 had a recovery of 1.3 million to cover it and is still showing in my list of loans, it surely cannot return 15 percent?! My recovery is 1018041290 but I can't see what it was. Thanks to beepbeepimajeep I can see where they're coming from. And I made a mistake. I haven't received anything from any of the Charterhouse (2938283517) gamble. The returns from the past couple of days are as below. So mine so far look like this: Capital Return from loan 1168548924 26/05/2023 14:47 £0.00 +£251.61 (from £500 on Carlisle loan) Capital Return from loan 2796468189 26/05/2023 14:39 £0.00 +£4.73 (from £25 Derwent Road) Capital Return from loan 6451255949 26/05/2023 13:36 £0.00 +£146.27 (from £300 on Anglesey Lodge NOT Charter) I've actually got some payments in totalling nearly £700 but it's been so long since I went through the motions, that firstly my head is spinning that I've actually got anything at all but more the fact that I've forgotten the way to check where it has come from and what it relates to. (Ive had no email notifications) I do know that by glancing at my dashboard, that the total 'Current Investments' has reduced by approximately £4K. So that's about 17.5% for me. Perhaps someone will assist by reminding me..thanks. Looking at your figures above I'm also surprised that two of your returns are 50+% and 48%+ which is mildly encouraging for you I suppose considering the time element, though of course the nil interest for several years lending with no return is a kick in the teeth.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 27, 2023 23:50:31 GMT
Thanks to beepbeepimajeep I can see where they're coming from. And I made a mistake. I haven't received anything from any of the Charterhouse (2938283517) gamble. The returns from the past couple of days are as below. So mine so far look like this: Capital Return from loan 1168548924 26/05/2023 14:47 £0.00 +£251.61 (from £500 on Carlisle loan) Capital Return from loan 2796468189 26/05/2023 14:39 £0.00 +£4.73 (from £25 Derwent Road) Capital Return from loan 6451255949 26/05/2023 13:36 £0.00 +£146.27 (from £300 on Anglesey Lodge NOT Charter) I've actually got some payments in totalling nearly £700 but it's been so long since I went through the motions, that firstly my head is spinning that I've actually got anything at all but more the fact that I've forgotten the way to check where it has come from and what it relates to. (Ive had no email notifications) I do know that by glancing at my dashboard, that the total 'Current Investments' has reduced by approximately £4K. So that's about 17.5% for me. Perhaps someone will assist by reminding me..thanks. Looking at your figures above I'm also surprised that two of your returns are 50+% and 48%+ which is mildly encouraging for you I suppose considering the time element, though of course the nil interest for several years lending with no return is a kick in the teeth. Account information ... sort so most recent is first
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SteveT
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Post by SteveT on May 28, 2023 5:31:19 GMT
Or, to see the loan names as well as numbers, go to My Investments, click the History tab and sort the list by the Date Ended column
One of mine actually has managed to repay 100% of capital plus a smidge of interest (Aughnacloy, Co. Tyrone - 2297673280)
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jonno
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nil satis nisi optimum
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Post by jonno on May 28, 2023 7:38:16 GMT
Or, to see the loan names as well as numbers, go to My Investments, click the History tab and sort the list by the Date Ended column One of mine actually has managed to repay 100% of capital plus a smidge of interest (Aughnacloy, Co. Tyrone - 2297673280) Yes, I had that one too, unfortunately only £25 so the grand interest sum of £0.54!
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Post by beepbeepimajeep on May 28, 2023 12:23:46 GMT
I've actually got some payments in totalling nearly £700 but it's been so long since I went through the motions, that firstly my head is spinning that I've actually got anything at all but more the fact that I've forgotten the way to check where it has come from and what it relates to. (Ive had no email notifications) I do know that by glancing at my dashboard, that the total 'Current Investments' has reduced by approximately £4K. So that's about 17.5% for me. Perhaps someone will assist by reminding me..thanks. Looking at your figures above I'm also surprised that two of your returns are 50+% and 48%+ which is mildly encouraging for you I suppose considering the time element, though of course the nil interest for several years lending with no return is a kick in the teeth. If you want to know which loans had money paid into your account, look at "Account movements" under your Account information. The credits have loan numbers in the description, then go to "my investments" and then "investment history" type those numbers into the search box and you can see which jokers finally paid back a fraction of what they owe you this time.
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rogerthat
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Post by rogerthat on May 28, 2023 13:38:57 GMT
Ok..will only do this the once..probably..cos I think the news will only get worse (for me) and we've no doubt all got our individual sob stories..Thanks to Ilmoro and beep for the nudges. 2297673280 Augh' Co Tyr......£500 cap return =100% + £10.88 int (5yrs + ) 1168548924 Car**sle ..........£125.80 c ret = 50.32% **** 2796468189 Derwe*t Rd Liv'.£ 56.79 c ret = 18.93% **** Just looked at the costs for Co Tyr..Geezuz..CG get £28.5K + ? 1. The indemnity sum of £26.8K...I read the explanation...does that mean there may be a few crumbs more ? 2. And what is the 'settlement' figure of £37K+ for ? 3. Were there two properties here ? Co Tyrone..im sure there was one Irish loan with two ? 4. When will any 'available' funds actually be available to withdraw ?
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mah
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Post by mah on May 28, 2023 20:22:22 GMT
Ok..will only do this the once..probably..cos I think the news will only get worse (for me) and we've no doubt all got our individual sob stories..Thanks to Ilmoro and beep for the nudges. 2297673280 Augh' Co Tyr......£500 cap return =100% + £10.88 int (5yrs + ) 1168548924 Car**sle ..........£125.80 c ret = 50.32% **** 2796468189 Derwe*t Rd Liv'.£ 56.79 c ret = 18.93% **** Just looked at the costs for Co Tyr..Geezuz..CG get £28.5K + ? 1. The indemnity sum of £26.8K...I read the explanation...does that mean there may be a few crumbs more ? 2. And what is the 'settlement' figure of £37K+ for ? 3. Were there two properties here ? Co Tyrone..im sure there was one Irish loan with two ? 4. When will any 'available' funds actually be available to withdraw ? Similarly, on 1088623814, Expense Contribution of 311, 727.92 & Indemnity Sum of £17,591.88 actually takes away 6.5% extra ? What are these and what was agreed as Expense Contrib - was it to compensate for the 5% they would have illegally charged otherwise ?
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rogerthat
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Post by rogerthat on May 28, 2023 21:30:28 GMT
Ok..will only do this the once..probably..cos I think the news will only get worse (for me) and we've no doubt all got our individual sob stories..Thanks to Ilmoro and beep for the nudges. 2297673280 Augh' Co Tyr......£500 cap return =100% + £10.88 int (5yrs + ) 1168548924 Car**sle ..........£125.80 c ret = 50.32% **** 2796468189 Derwe*t Rd Liv'.£ 56.79 c ret = 18.93% **** Just looked at the costs for Co Tyr..Geezuz..CG get £28.5K + ? 1. The indemnity sum of £26.8K...I read the explanation...does that mean there may be a few crumbs more ? 2. And what is the 'settlement' figure of £37K+ for ? 3. Were there two properties here ? Co Tyrone..im sure there was one Irish loan with two ? 4. When will any 'available' funds actually be available to withdraw ? Similarly, on 1088623814, Expense Contribution of 311, 727.92 & Indemnity Sum of £17,591.88 actually takes away 6.5% extra ? What are these and what was agreed as Expense Contrib - was it to compensate for the 5% they would have illegally charged otherwise ?
I can answer part of your query. Right well I've just read a few posts on the Whatsapp FSAG so the Indemnity Sum (7.5%) on ALL recoveries are monies set aside in the event that the litigant JC S pursues his supposed claims. It seems the consensus is that this will not materialise and eventually those monies will be distributed at the end of the Administration.
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mah
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Post by mah on May 28, 2023 21:41:38 GMT
Also,
6451255949 - Expense Contribution of £27,410.38, Indemnity Sum of £41,115.58 and an Additional cost of £1800 (Pre Recovery Legal Costs - Addnl) actually takes away 7.4% extra (update dated 26/05 compared to that dated 24/02) ?
1184500790B - The sceneario is not Clear. Loan Update (main Loan) states there were 4 Properties and 2 were sold for £70K each and specifies the Loan amounts as £79221.27 and £55189.57 for Properties 1 & 2. However, no details for the other 2 Properties - so unable to determine the % of individual investors' shares are correct or not.
However, Expense Contribution of £3,265.63, Indemnity Sum of £4,898.45 are stated. Difference from 24/02 update is 11.6%. But, overall, it appears that the Expense Contribution is 3% and Indemnity is 5% on this Loan.
However, on 6451255949, it appears that the Expense Contribution is 5% and Indemnity is 7.5%. Same is for Loan 1088623814.
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mah
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Post by mah on May 28, 2023 23:26:50 GMT
So, if Expense Contribution is 5%, all that fiasco about the illegal 5% FS Fee was a Total Waste. The Net Result is Additional Legal Costs to the Administration plus the Respondents Costs on Top !
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k6
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Post by k6 on May 29, 2023 7:37:51 GMT
Was there a time given when we free to withdraw our monies ? Trying no to do it too early if there are still funds do be added. I think someone has mentioned seeing funds but still unable to withdraw ? perhaps this could be an indication for particular individual that there will be more and those able to withdraw that the final sum was already added . . . perhaps
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SteveT
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Post by SteveT on May 30, 2023 18:14:20 GMT
Wow, the “1st Charge Barnoldswick (8010286828)” loan recovered in full, plus 22.8% interest
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