micky
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Post by micky on Nov 26, 2017 12:43:37 GMT
Today's update- 'Formal proof of funds from the private investor has been received' so hopefully capital repayment and approx 18-19 months of interest will be on its way to us soon.
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r00lish67
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Post by r00lish67 on Nov 27, 2017 13:51:22 GMT
Today's update- 'Formal proof of funds from the private investor has been received' so hopefully capital repayment and approx 18-19 months of interest will be on its way to us soon. Are you taking the eponymous micky ? Of the range of promising updates in the Londonderry set, I'd give this 6 and a half out of 10, tops. Last month we had all parties fully ready to go, now we appear to have reverted to proving just one of them actually has money. As there seems to be some sort of eventual solution here if the updates are to be believed, I don't know why we can't just have a grown-up realistic date advised. But, then again, we've been hearing almost exactly the same updates for about 11 months now, so one does have to wonder whether it's the borrower taking the micky instead.
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micky
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Post by micky on Nov 27, 2017 16:06:12 GMT
I'm forever hopefull roo.
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phil
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Post by phil on Nov 27, 2017 19:23:39 GMT
I'm forever hopefull roo. Me too, I'm in both the Norfolk properties at 620 days and counting, these Londonderry loans are mere spring chickens at 571 days
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Steerpike
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Post by Steerpike on Apr 24, 2018 15:30:16 GMT
Branch Road, Londonderry (7928207063)
Update on 9th stated "the final offer is now expected withing the next two weeks", has the final offer been received and passed to legal?
"Thank you for your patience. Unfortunatley I have no further information on this loan and the person I would need to speak to is out of the office currently. I will put in an udpate request for this loan and as soon as we gain new information it will be put onto the loan page"
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victors
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Post by victors on May 9, 2018 15:05:24 GMT
New update today. Encouraging?
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r00lish67
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Post by r00lish67 on May 30, 2018 7:07:06 GMT
I have pretty much given up moaning about my particular heavily overdue FS loans, as others have that all too well covered, but this one is a cracker:
(for Londonderry props, 706 days in...)
"Progress continues, albeit very slowly. It is hoped that the housing association will shortly refinance the development properties as previously agreed, but with the ongoing status of Stormont it will continue to be difficult, and slow, to bring this to a conclusion"
Ah, right, so 2 years in, we now we just have to patiently wait for the rise of a new NI Government before these loans will be sorted. When will that be then, end of the week presumably?
Edit: FS, ok, I give up. Can we just have our 10p in the £ and have done with it? I can't take any more.
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adrian77
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Post by adrian77 on May 30, 2018 9:31:21 GMT
perfectly reasonable explanation for non-action , as in the Italian election crisis ,Brexit and Mars being over Jupiter - FS just repossess these damn properties and give us a break from all this twaddle!
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jimbob
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Post by jimbob on May 30, 2018 17:15:43 GMT
What the hell does the national government of Northern Ireland have to do with these loans in Free London Derry ? Also what 'progress' has continued ?
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on May 30, 2018 17:59:38 GMT
What the hell does the national government of Northern Ireland have to do with these loans in Free London Derry ? These loans are to indirectly fund developments by a large Housing Association that provide social housing for a large number of residents in NI, many of whom are dependants of the state. I suspect the HA has to meet certain targets in exchange for preferential terms of business, a bit like a public/private partnership.
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r00lish67
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Post by r00lish67 on May 30, 2018 18:33:57 GMT
The issue with these loans is that, as with the powerful boat, Funding Secure appear to have no intention of ever calling them in.
The exercise of forbearance to treat the borrower fairly and/or achieve the best return for investors, perfectly reasonable in itself, has extended into the long distance. There appears to be no 'Plan B' in the locker whatsoever, just hope that the borrower might stop leading them in circles.
Incidentally, if anyone's interested, the borrower's SPV is named on the VR's.
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victors
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Post by victors on Jun 18, 2018 10:06:28 GMT
More progress!
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SteveT
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Post by SteveT on Jun 18, 2018 10:15:45 GMT
Unclear whether that relates to the refinance or to the Northern Ireland political stalemate...
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adrian77
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Post by adrian77 on Jun 18, 2018 10:52:56 GMT
If my project manager gave me such vacuous twaddle I would need to control myself before sacking him. FS may waste their money on a "spin doctor" but we forum members aren't complete idiots (despite what my wife says about me).
I read this to be
no meaningful progress has been made - it is a total horlicks, we do not even have an exchange date yet so we are just playing for time and praying for a miracle in the vain hope we can pull the wool over the eyes of the lenders and ignore reality for a few months more...
I thank you.
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Post by beepbeepimajeep on Jul 16, 2018 17:02:24 GMT
FS, ok, I give up. Can we just have our 10p in the £ and have done with it? I can't take any more. These are my feelings as well, another lol set of loans in funding secure land. ongoing progress has been madeongoing progress has been madeongoing progress has been madeongoing progress has been madeongoing progress has been made ongoing progress has been made ongoing progress has been made
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