pikestaff
Member of DD Central
Posts: 2,136
Likes: 1,484
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Post by pikestaff on Aug 22, 2017 7:20:12 GMT
Bottom line - how can you spend £160,000 on renewing a slipway, and then sell the whole shebang for only £225,000?!!! Very easily. That's what happens if you spend on the wrong project in the wrong place at the wrong time. Money down the drain.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Post by littleoldlady on Aug 22, 2017 7:28:26 GMT
Bottom line - how can you spend £160,000 on renewing a slipway, and then sell the whole shebang for only £225,000?!!! If the 'spender' and the 'buyer' are effectively the same person.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Aug 22, 2017 11:08:15 GMT
Bottom line - how can you spend £160,000 on renewing a slipway, and then sell the whole shebang for only £225,000?!!! Very easily. That's what happens if you spend on the wrong project in the wrong place at the wrong time. Money down the drain. Or washed out to sea in this case.
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Mousey
Member of DD Central
Posts: 1,570
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Post by Mousey on Mar 31, 2021 13:57:15 GMT
Mikes - just to be clear on the order of payment in the event of a default - not specifically for this loan, but for all loans. In both the FAQ and the T&C it states: Proceeds from the sale will be used to settle investors' capital, investors' interest and FundingSecure's fees (in that order). Any surplus is returned to the borrower. Interest and fees continue to accrue up until the asset is sold. Hope this covers your concerns about the recovery process priorities. FundingSecure mikes1531 Look at you getting mentioned in a High Court Judgement at Para 41c - www.bailii.org/ew/cases/EWHC/Ch/2021/798.html
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