adrian77
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Post by adrian77 on Jun 6, 2019 15:43:58 GMT
I am beginning to wonder if these damn things are sold...
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pip
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Post by pip on Jun 7, 2019 8:08:55 GMT
I am beginning to wonder if these damn things are sold... I wrote these off a long time ago. Still think of all the examples of a clear mis-selling this is it. It advertised as having the security of 5 homes, it then turns out they were never going to start 3 until the first two were sold. So at what point was there ever the security of 5 homes? It's like me saying I want a loan for £1m secured against two £500k houses. I actually only own one home for £500k but have a plan to sell it and buy another one for £500k. I never had £1m of security! Surprised people are not more angry about this.
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rocky1
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Post by rocky1 on Jun 7, 2019 8:28:29 GMT
As I have said before pretty soon these PPI people are going to be looking for something else and P2P platforms like FS are leaving themselves wide open for no win no fee claims.
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arby
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Post by arby on Jun 7, 2019 9:08:13 GMT
As I have said before pretty soon these PPI people are going to be looking for something else and P2P platforms like FS are leaving themselves wide open for no win no fee claims. I would suggest the validity of such P2P claims would be stronger than the majority of PPI claims, however the pockets of the banks are much deeper and that unfortunately plays a bigger factor than it should....
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adrian77
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Post by adrian77 on Jun 12, 2019 8:28:42 GMT
Well here we are over a month later and absolutely nothing so have FS received any money?
Just had a quick look at my poll and I note I person estimated net proceeds at under £500 (not me) and I am beginning to wonder if this person was spot on! Thinking about this one I would guess the only potential buyer would be somebody local with a site awaiting a caravan otherwise however much would it cost to store and transport these things.
I really hope this is not another Whitehaven moment (as the uncompleted ones will be)
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james21
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Post by james21 on Jun 12, 2019 9:05:57 GMT
John Pye auctions Chesterfield by tender 5th May but no info on sale price
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pip
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Post by pip on Jun 12, 2019 17:59:19 GMT
Well here we are over a month later and absolutely nothing so have FS received any money? Just had a quick look at my poll and I note I person estimated net proceeds at under £500 (not me) and I am beginning to wonder if this person was spot on! Thinking about this one I would guess the only potential buyer would be somebody local with a site awaiting a caravan otherwise however much would it cost to store and transport these things. I really hope this is not another Whitehaven moment (as the uncompleted ones will be) Anything I get back on these will now be a bonus. Can’t see anything much beyond a token amount. Even if they sold for a fair amount at auction, which looks increasingly unlikely, it will be no where near enough to cover loans, especially once the receivers, auctioneers, transport and storage fees have been deducted.
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adrian77
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Post by adrian77 on Jun 14, 2019 9:38:29 GMT
OK so here we are 14.06.19 - nearly 5 weeks after the last update and the deadline for payment. I am not exactly impressed ; so much for the new management. If I were in this one I would be furious but I am not so will update my mega top 40 this weekend with this being an anticipated 100% loss unless we get an update before Monday.
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adrian77
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Post by adrian77 on Jun 16, 2019 21:24:07 GMT
It is now late 16.06.19 - anybody interested in voting in a poll 1 - these sheds Mobile homes have not sold 2 - 50-50 to whether they have sold 3 - these Mobile Homes have been sold
I thank you
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jcm9000
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Post by jcm9000 on Jun 17, 2019 7:09:02 GMT
I think Ziltoid, on his search for the ultimate cup of coffee, ate them.
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pip
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Post by pip on Jun 17, 2019 11:39:25 GMT
It is now late 16.06.19 - anybody interested in voting in a poll 1 - these sheds Mobile homes have not sold 2 - 50-50 to whether they have sold 3 - these Mobile Homes have been sold I thank you I suspect its 3 but that the amount raised is so low that it is too embarrassing to reveal and they are hoping we all forget about it.
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rs
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Post by rs on Jun 17, 2019 11:57:17 GMT
It is now late 16.06.19 - anybody interested in voting in a poll 1 - these sheds Mobile homes have not sold 2 - 50-50 to whether they have sold 3 - these Mobile Homes have been sold I thank you I suspect its 3 but that the amount raised is so low that it is too embarrassing to reveal and they are hoping we all forget about it. What would happen if the sale of the park homes were to the borrower and FS just found out this now. Would you be required to sale it to the borrower or not?
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adrian77
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Post by adrian77 on Jun 17, 2019 15:47:18 GMT
Very good question - any legal beagle care to comment? What I think is more likely is that some borrowers try to tap FS for a large loan and then they or a friend try to buy it back.
In this case £228K seems a huge amount of money to me considering the actual progress of the non-completed units seems very small to me...
Sorry FS but we aren't going to go away and the longer you delay in telling us what actually happened here the worse it is going to be.
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09dolphin
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Post by 09dolphin on Jun 17, 2019 16:13:39 GMT
What I'm really curious about is why FS are so reluctant to reveal the price achieved at auction.
We all know that the receivers take a huge slice of the auction price. I think the receivers costs exceed the price obtained so FS are totally embarrassed and are reluctant to tell investors there is a 100% capital loss.
Other theories would be interesting.
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adrian77
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Post by adrian77 on Jun 18, 2019 10:47:28 GMT
OK FS so where are the further details.
Either this damn things have sold within the payment deadline or they haven't. Either way I find it extremely arrogant not to be told 5 weeks after the payment deadline. These things must be stored somewhere and I doubt if that is cheap - if stored outside then surely they are going to deteriorate.
You have already used the "confidential" email stunt to try and fool us but considering it fooled exactly nobody I suggest you just come clean over this one. If there is a potential buyer who is haggling hard then why not say so - I know you want to!
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