Bradford-on-Avon Flat Development (1694741095 & 2686269396)

Hm. Looks like our man really wants some money fast for something, and the 2nd charge loan on his indoor barbecue just isn't cutting it. 

rogerthat I do hope you're not genuinely smacking your (bacon) chops at lower ranking facilities again. I could try, and probably fail, to replicate some of the quants guys formulas on here to explain this mathematically. But I won't, and it's Friday, so let's keep it simple:



via Imgflip Meme Generator

*Mr Mackay is not a licensed financial professional and as such if you want to invest in FS second facilities, then be his guest.

I also wondered whether FS put the restriction on in the hope that it would make the loan look more attractive.  Or perhaps as a sop to those who complained about the lack of restrictions on other recent FS offerings.

As for whether it was necessary, there's really not enough evidence yet to say.  Looking at the list of investments now, I see 14 investors who put in £1k.  If those investors actually wanted an average of about £5k each, this loan would be fully funded by now. 

We'll get more info tomorrow at 1600.

 I'm learning.

You can track progress of the other sales on RM.

Look, it'll probably be fine. But, 2 points:

a) in the unlikely event that there's something FS aren't telling us or aren't aware of yet (heaven forfend!) then all of the money in that facility hits the wall first, 14% interest and all. See the Formby development for a quite possible sad tale in progress along this line.

b) in the quite possible event that the other flats take yonks to to sell (maybe they're not as good as the first 3 for some reason?), then it rather sounds like this guy might be having some cashflow challenges with his various loans.  If he doesn't pay interest to renew the other loans, then bear in mind that every penny of the "interest that continues to accrue" on the main facility will be paid before the second facility gets a look in.


I used to be so decisive..but now I'm not so sure 

I was only looking to throw some token offering at it ..but like you the time factor of disposing of the remaining three flats is what concerns me. I'm wondering how many of the flats have to be sold to pay off the main facility..£1.2m (hopefully) - £743K + Interest over X months ? but its Friday and I'm not sure I can be bothered. I quite like the development as its a fine building and will now be better utilised but sentiment and cash have always been poor bedfellows. Lets hope it fills sooner rather than later

I also wondered whether FS put the restriction on in the hope that it would make the loan look more attractive.  Or perhaps as a sop to those who complained about the lack of restrictions on other recent FS offerings.

As for whether it was necessary, there's really not enough evidence yet to say.  Looking at the list of investments now, I see 14 investors who put in £1k.  If those investors actually wanted an average of about £5k each, this loan would be fully funded by now. 

We'll get more info tomorrow at 1600.