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Post by bracknellboy on Apr 28, 2017 18:09:14 GMT
i have so little in FS, and most of it already in belly up loans, that I had taken little notice of this thread. Now I see I am holding tranche 5 of a property in Whitehaven !! NO doubt I was suckered in by the optimistic report that went with tranche 5
I see above people mentioning FS update on this loan. How has this been communicated ?? I see nothing under Updates on Tranche 5 and I do not seem to have had any email.
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ali
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Post by ali on Apr 28, 2017 19:47:26 GMT
i have so little in FS, and most of it already in belly up loans, that I had taken little notice of this thread. Now I see I am holding tranche 5 of a property in Whitehaven !! NO doubt I was suckered in by the optimistic report that went with tranche 5 I see above people mentioning FS update on this loan. How has this been communicated ?? I see nothing under Updates on Tranche 5 and I do not seem to have had any email. Try loan updates on the 4th tranche (2754713515).
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Apr 28, 2017 21:40:21 GMT
What an obvious place to look for updates by the fabulouslh secret site! Again. Lazy management of data.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Apr 28, 2017 21:43:27 GMT
B4 the capitan responds to limit my freedom of speech I have asked 6 times dire t messaging and emails. Still lazy.
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SteveT
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Post by SteveT on Apr 29, 2017 10:14:46 GMT
i have so little in FS, and most of it already in belly up loans, that I had taken little notice of this thread. Now I see I am holding tranche 5 of a property in Whitehaven !! NO doubt I was suckered in by the optimistic report that went with tranche 5 I see above people mentioning FS update on this loan. How has this been communicated ?? I see nothing under Updates on Tranche 5 and I do not seem to have had any email. A further update has just been added (in the Tranche 4 loan): " We received further communication from the borrower yesterday. Judgement has been found in his favour and there is a further hearing on Thursday to determine the settlement which should be sufficient to repay all loans. The contractors are back on site on Tuesday to prepare the groundwork for the timber frame."
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sb
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Post by sb on May 7, 2017 19:25:04 GMT
Borrower still avoids FS
"We are trying to get an update from the borrower concerning the settlement hearing as well as progress on the development site. As soon as we have feedback, we will post this"
No sign of "an urgent onsite meeting" mentioned on 27/04.
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ali
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Post by ali on May 8, 2017 6:51:14 GMT
Some evidence of work being done yesterday (2017-05-07), but not a huge amount of progress as yet:
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sb
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Post by sb on May 8, 2017 9:11:03 GMT
Some evidence of work being done yesterday (2017-05-07), but not a huge amount of progress as yet: Thanks a lot for the photos. To be honest I don't see any easy to spot differences from the previous photo.
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ali
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Post by ali on May 8, 2017 9:18:28 GMT
Thanks a lot for the photos. To be honest I don't see any easy to spot differences from the previous photo. Yeah. I'm reasonably sure that somebody has been on site, but I agree no actual progress has been made.
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09dolphin
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Post by 09dolphin on May 8, 2017 10:10:37 GMT
This loan with it's updates is becoming farcical. If it didn't involve some of my money I would be enjoying watching it's progress.
Perhaps it's my understanding but I still can't reconcile pictures posted on the FS site with the pictures on this site.
I was so pleased to read that FS are going to post details of the URGENT site meeting they were going to have 2 weeks ago, that FS are happy that this loan drags on because the lack of progress is "understandable" and that because it's a multimillion lawsuit the borrower and his company are involved in (that he has won - unless it's appealed) they feel assured that the loan + interest will be repaid in full. However unless FS start to give more comprehensive updates I can't say I will ever share their confidence.
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stokeloans
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Post by stokeloans on May 8, 2017 17:30:09 GMT
As a newcomer to FS I find this astonishing. Do FS just take borrowers at their word with no follow up checks ?
Borrower - Can I have a loan to buy a derelict building please? FS - Yes,how much do you want Borrower - £100,000 FS - Done Borrower - Can I have some more money please ,I've done some work ? FS - Done Borrower - Can I have some more money please ,I've done some work ?
FS - Done Borrower - Can I have some more money please ,I've done some work ?
FS - Done Borrower - Can I have some more money please ,I've done some work ?
FS - Done
Something else I can't get my head round,if this development does actually go ahead and is not a scam,which it looks like to me,9 apartments and 1 house is going to be a very tight squeeze on that site is it not.Has anyone seen any plans ?
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sb
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Post by sb on May 8, 2017 21:21:47 GMT
The property was bought by the borrower at an auction, guide price £80k.
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fp
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Post by fp on May 11, 2017 19:01:09 GMT
The only difference I can see is one of the signs has been pulled off the HERAS fencing. I'm not in the loan, but thanks for the update ali, its certainly food for thought.
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r1200gs
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Post by r1200gs on May 12, 2017 7:39:29 GMT
Urgent site meeting was mentioned on 27/4.
We want to know what has happened to our money, FS.
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ashtondav
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Post by ashtondav on May 12, 2017 7:44:21 GMT
Plug...and...hole.
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