r1200gs
Member of DD Central
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Post by r1200gs on Jan 4, 2019 13:30:29 GMT
I'm going to have to check that my accountant is aware of this stuff, or would it be unlikely they did not? Sorry, new to UK.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 4, 2019 14:07:42 GMT
I'm going to have to check that my accountant is aware of this stuff, or would it be unlikely they did not? Sorry, new to UK. LInk to official HMRC P2P info
Loss relief guidance
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r1200gs
Member of DD Central
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Likes: 1,883
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Post by r1200gs on Jan 4, 2019 14:31:14 GMT
I'm going to have to check that my accountant is aware of this stuff, or would it be unlikely they did not? Sorry, new to UK. LInk to official HMRC P2P info
Loss relief guidance
Great, I'll mail her with the links. Losses on FS should provide plenty of practise for her.
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coop
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Post by coop on Jan 4, 2019 14:40:04 GMT
Accountants must hate it when their clients do P2P!  |
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Post by mrclondon on Jan 29, 2019 14:16:25 GMT
fundingsecure - thanks for the detailed update on this loan a short time ago, and the message being sent to the borrower in our name. Could we have a similiar update on the borrower's Carlisle development loan please.
I remain concerned with the decision to advance the borrower two new loans (for the two north wales properties) whilst existing loans are clearly in a distressed state.
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bfish
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Post by bfish on Jan 29, 2019 16:57:27 GMT
fundingsecure - thanks for the detailed update on this loan a short time ago, and the message being sent to the borrower in our name. Could we have a similiar update on the borrower's Carlisle development loan please.
I remain concerned with the decision to advance the borrower two new loans (for the two north wales properties) whilst existing loans are clearly in a distressed state.
£232,500 funded to the borrower AFTER the main Tranche of £1.55m became 'distressed' i.e. overdue - 16 August last year ! Dear Mr Clondon . . . you only 'remain concerned' ??
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Carter
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Post by Carter on Feb 15, 2019 14:33:22 GMT
Gatehouse on the market listed on Feb 6th.
Rightmove link in DDC.
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Post by mrclondon on Mar 5, 2019 16:20:34 GMT
fundingsecure - thanks for the detailed update on this loan a short time ago, and the message being sent to the borrower in our name. Could we have a similiar update on the borrower's Carlisle development loan please.
I remain concerned with the decision to advance the borrower two new loans (for the two north wales properties) whilst existing loans are clearly in a distressed state.
Bump .... another month, another update on this loan (not great news but better than no news), however still no news on the borrower's Carlisle development loan. fundingsecure ? You are obviously talking to the borrower, so why not update us on all his loans.
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cwah
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Post by cwah on Apr 10, 2019 16:23:19 GMT
Sounds like it's going into default "Our Solicitors are in the process of calling in all debts and Personal Guarantees.An update will follow once our position is made clear."  |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,337
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Post by ilmoro on Apr 10, 2019 17:00:29 GMT
Sounds like it's going into default "Our Solicitors are in the process of calling in all debts and Personal Guarantees.An update will follow once our position is made clear." Administrators appointed 29/3
Also on Carlisle Dev but not other two projects yet
See DD
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cwah
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Post by cwah on Apr 10, 2019 18:45:45 GMT
So it has been valued at £2.7 million and the loan is around £1.5 million.
How likely it will have a 100% recovery?
I'm unfortunately invested on this one and hoping not to loose money again!
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arby
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Post by arby on Apr 10, 2019 21:34:05 GMT
So it has been valued at £2.7 million and the loan is around £1.5 million. How likely it will have a 100% recovery? I'm unfortunately invested on this one and hoping not to loose money again! I believe the loan is £3.2m against a value of £4.9m, giving a 65% LTV. As for how realistic that is; £3m of the £4.9m value is land with planning permission for a large number of further properties which brings with it a large uncertainty, but it clearly has some value. £1.9m is the FS estimated value of a number of partially-built properties. The GDV (and recommended selling price) of these properties is ~£3m, while the latest QS report indicates another £500k is needed to get them to that stage. This indicates that the FS estimate of the property value isn't obviously optimistic. There's clearly a lot of value in the assets, but there's also a limited market, a large debt, and receiver's costs to cover for what would possibly be a protracted sale. Edit: Should also say, on a negative note, I always assume if there is clear headroom/profit in the project most developers would go to great lengths to avoid receivers being appointed. We'll see what happens to my £500 in this.... 
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cwah
Member of DD Central
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Post by cwah on Apr 10, 2019 21:52:57 GMT
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trium
Member of DD Central
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Post by trium on Apr 12, 2019 14:54:42 GMT
I am in all 4 of these. Added to Cardiff, The D*ll, D*rwent Rd, An**sey Lodge, Lytham st Annes etc etc it's all starting to look very messy.
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cwah
Member of DD Central
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Post by cwah on Apr 12, 2019 17:33:16 GMT
I am in all 4 of these. Added to Cardiff, The D*ll, D*rwent Rd, An**sey Lodge, Lytham st Annes etc etc it's all starting to look very messy. I hope u didn t put too much in these...
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