guff
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Post by guff on Nov 11, 2016 15:26:58 GMT
Thanks for that adrianc - interesting that T1-T4 have been updated but not T5 (15351) : The only one I didn't sell. And if the legal position is not clarified as they expect/hope?
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adrianc
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Post by adrianc on Nov 11, 2016 15:43:54 GMT
And if the legal position is not clarified as they expect/hope? Then I suspect the lender will be pulling out... Any bets on this reaching the year overdue?
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guff
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Post by guff on Nov 11, 2016 16:11:58 GMT
And if the legal position is not clarified as they expect/hope? Then I suspect the lender will be pulling out... Any bets on this reaching the year overdue? I reckon you're right on both. Shame that Flippant Contrivances imply (to T1-T4 lenders at least) that there is only a minor issue to resolve before payback... Trounces off to search for Clarkson-not-quite-so-smug.gif
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adrianc
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Post by adrianc on Nov 18, 2016 9:17:54 GMT
We hope to provide investors with a substantive update by the end of November. Yes, that made me chuckle. "Instead of the usual insubstantive ones?"
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jayjay
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Post by jayjay on Nov 18, 2016 15:21:54 GMT
I sense they have finally issued an ultimatum to the other lender and a refinance with FC is imminent - autobid fodder. AVOID! We should have been here six months ago.
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acky
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Post by acky on Nov 19, 2016 6:49:23 GMT
I sense they have finally issued an ultimatum to the other lender and a refinance with FC is imminent - autobid fodder. AVOID! We should have been here six months ago. I don't sense that at all. I feel they are still being strung along. They have said before they have "no control over the process" (although I would have thought having a first charge over the property would give them quite a bit of control).
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andyp
Stubborn Yorkshireman from the rhubarb triangle
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Post by andyp on Dec 13, 2016 13:04:46 GMT
Well the great day has finally come and the first tranche of these 8 month London loans is now 8 months late. The other 4 tranches will surely follow in the next few days. To add insult the final month of normal interest has not yet been paid, so it is now 9 months since we have received a penny.
Is this a record for P2P lending that has not been defaulted?
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jayjay
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Post by jayjay on Dec 14, 2016 13:30:34 GMT
The scourge of most p2p loans like this is that they are forever being refinanced and the can kicked down the road. We can hardly accuse FC of this here - although they are belatedly seemingly doing this with other loans.
Increasingly this loan, which seemed at one time quite a good one (when we had security on the Eastbourne hotel too) is looking sicker and sicker. The only hope is a massive upward revaluation if it were (at least hypothetically) converted to a series of flats or demolished for redevelopment!? Perhaps this is what the other refinance is about. I don't fancy any FC administrator making much of it as a going concern with the debenture...
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ptr120
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Post by ptr120 on Dec 16, 2016 17:39:24 GMT
the latest comment states that (slightly paraphrasing) we should expect this to refinance externally in three months
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fasty
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Post by fasty on Dec 16, 2016 19:24:27 GMT
the latest comment states that (slightly paraphrasing) we should expect this to refinance externally in three months or they'll stamp their feet, go away and ponder again.
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blender
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Post by blender on Dec 16, 2016 20:32:07 GMT
They say they will enforce the security after three months. That's new.
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fasty
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Post by fasty on Dec 16, 2016 20:45:02 GMT
They say they will enforce the security after three months. That's new. Hmm they actually say " should" not " will". Hopefully we will see some results.
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blender
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Post by blender on Dec 16, 2016 22:48:38 GMT
Yes, their agent says they should. But they have told us about it and not disagreed with the advice. I believe that means they accept it (though your correction was right). It looked like tough talk to me.
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adrianc
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Post by adrianc on Dec 17, 2016 10:10:05 GMT
The big question has to be - will this hit the one-year-overdue mark or not? Three more months will take T1 to about 340 days overdue, so I think we're looking good for that.
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sussexlender
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Cheat seeking missile
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Post by sussexlender on Dec 27, 2016 16:53:18 GMT
Has anyone been near this Hotel recently to see if the lights are still on?
FC's unidentified third party agent appears not to have been able to make contact with the new owner and has been given 3 months to fumble around in the dark.
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