Post by mark on Jul 17, 2014 9:06:46 GMT
This companies loan interest payment is 19 days late so far.
They state that they are awaiting completion of a property outside of the loan security properties to be able to make the late interest payment. Originally the loan interest payments were to be met by a mixture of rental and other income from their businesses. Should it not be of a concern that they are now unable to make the interest payment by company income and have to rely on a property sale , still awaiting completion, to service the late payment of £5k.
With over two years left for the company to find payments every month, if they are struggling to repay the interest for last month what does this mean for future months. Why are they struggling and do not have the normal business income to pay I wonder.
In the worst case scenario, there is the first charge security on the 5 holiday homes. Monitoring the companies lack of success in selling these properties as new what would be the real achievable value of ex-holiday rental homes if these needed to be sold on a restricted time basis at the end of three years of use and abuse by short term holiday rental bookings.
