r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Aug 29, 2017 10:41:36 GMT
I'm going to presume that there is no promised update because there has been no work done. That seems a safer bet than thinking that FS are just holding back the good news.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Aug 29, 2017 10:45:03 GMT
I'm going to presume that there is no promised update because there has been no work done. That seems a safer bet than thinking that FS are just holding back the good news. Updates posted yesterday on T1-4: "28/08/2017 We have been advised that scaffolding has started in order to do the rendering of the adjoining properties. The site visit has been postponed due to our own scheduling conflicts and is now planned for the end of w/c 5 September."
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Aug 29, 2017 10:59:56 GMT
I'm going to presume that there is no promised update because there has been no work done. That seems a safer bet than thinking that FS are just holding back the good news. Updates posted yesterday on T1-4: "28/08/2017 We have been advised that scaffolding has started in order to do the rendering of the adjoining properties. The site visit has been postponed due to our own scheduling conflicts and is now planned for the end of w/c 5 September." No update on tranche five that I hold. Scaffolding started eh? It took one day for the guys to put up the scaffolding at my eight floor apartment block in Brussels. All the way to the eighth floor. Work was supposed to have started in the middle of w/c 21/8/17 and update for the 28th says the scaffolding has been started? Well, it might reassure somebody!
|
|
|
Post by GSV3MIaC on Aug 29, 2017 17:09:01 GMT
/mod hat off .. Nope, that's not what it said .. it said 'we have been advised that .. ' which is a whole different animal (based on history, probably porcine).
|
|
rs
Member of DD Central
Posts: 467
Likes: 254
|
Post by rs on Aug 29, 2017 18:06:52 GMT
/mod hat off .. Nope, that's not what it said .. it said 'we have been advised that .. ' which is a whole different animal (based on history, probably porcine). strange FS have no photos to prove work is progressing considering this loan.Obviously the contractor is being used by borrower on other more profitable developments!
|
|
ashtondav
Member of DD Central
Posts: 1,805
Likes: 1,087
Member is Online
|
Post by ashtondav on Aug 30, 2017 8:06:30 GMT
But have you ever been to Whitehaven. Things move a little slower there.
One thing's for sure and that is that FS has never been there!
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Aug 30, 2017 9:37:37 GMT
/mod hat off .. Nope, that's not what it said .. it said 'we have been advised that .. ' which is a whole different animal (based on history, probably porcine). I'm pretty sure nobody missed the "we have been advised" part, I was just being generous in assuming it might actually have happened. Generously allowing that scaffolding that should take a few hours has actually been "started". And yes, speaking of photos, I though we were also told that these would now be a regular feature of our updates? Perhaps the contractors don't have a camera?
|
|
sb
Posts: 166
Likes: 118
|
Post by sb on Aug 30, 2017 18:55:55 GMT
/mod hat off .. Nope, that's not what it said .. it said 'we have been advised that .. ' which is a whole different animal (based on history, probably porcine). I'm pretty sure nobody missed the "we have been advised" part, I was just being generous in assuming it might actually have happened. Generously allowing that scaffolding that should take a few hours has actually been "started". And yes, speaking of photos, I though we were also told that these would now be a regular feature of our updates? Perhaps the contractors don't have a camera?You are making a highly speculative assumption that there are some contractors on site.
|
|
michaelc
Member of DD Central
Posts: 4,920
Likes: 2,774
|
Post by michaelc on Aug 31, 2017 12:32:09 GMT
But even if this is true, wouldn't this rendering be done to prevent being sued by the surrounding properties rather than actual work starting?
The building sites I've seen, tend to start with extensive groundworks. Think diggers, large mounds of soil, concrete being poured or piles driven. Scaffolding takes place once the walls have been started and are head high which is much further on in the processes and as someone said, it is incredibly fast to put up.
|
|
09dolphin
Member of DD Central
Posts: 631
Likes: 857
|
Post by 09dolphin on Sept 1, 2017 7:43:37 GMT
The borrower has FS over a barrel. FS can't afford to foreclose as it would possibly bankrupt them if they are sued by lenders in all but the 1st loan due to their liabilities from their DD in offering further loans when there was no progress of the development (and I really do think FS should have a system in place to check progress - it's not as if we are talking a couple of thousands where the cost of checking may be disproportionate to the actual advance).
What actual progress has been made in terms of the development? The ground has been cleared following demolition and that seems to me to be it. From the evidence produced I can't see any evidence of foundations being laid to prepare for the installation of the frames that were, according to FS, purchased some time ago, after groundworks were complete etc. I agree with a previous post that the scaffolding needed to protect adjacent properties is to prevent others suing the borrower as, if they are sued, FS become more likely to be subject to action from borrowers.
|
|
|
Post by bluechip on Sept 1, 2017 9:04:16 GMT
What makes me really laugh is the excuse that the visit was postponed due to "scheduling conflicts". If I were in FS's shoes I'd have a man camping outside the development getting answers, what can seriously be that important for an FS representative for them to have a conflict with their scheduling at this stage? If the guy can only meet at midnight on a Sunday then you meet him then, there can be no conflict of schedules in my view, only avoidance at this stage (by one or both parties) - it is now too serious for simple diary clashes!
Just shows how messed up their priorities are or rather how 'scared' they may be of confronting the truth. The sand pit is being dug out, your head will be revealed soon - best to be proactive in these situations.
|
|
|
Post by scrooge on Sept 3, 2017 10:37:56 GMT
What happened to the court case in June that was going to repay us? Did the customer lose, or is the money sitting with the same Swiss bank as the guy in Rishton is waiting to hear from??
|
|
shuff27
Member of DD Central
Posts: 90
Likes: 100
|
Post by shuff27 on Sept 4, 2017 6:29:39 GMT
Presumably the same Swiss bank where the powerboat 'investor' holds its funds. It's a special kind of bank - you put money in & it never comes out again.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Sept 7, 2017 11:15:59 GMT
I'm so looking forward to the new update complete with pictures. End of this week wasn't it? Tomorrow then. I'm sure FS wouldn't make us wait till next week for the good news.
|
|
michaelc
Member of DD Central
Posts: 4,920
Likes: 2,774
|
Post by michaelc on Sept 7, 2017 15:48:58 GMT
Update is below:
07/09/2017
The borrower has been in touch to say that he has been contacted by an influential clairvoyant. We are still awaiting more details.
|
|