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Post by charlata on Nov 20, 2017 10:38:51 GMT
If tempted by this investment immediately look up recent updates to the powerboat loan. After that if you still think to invest your financial future is bleak. I'm not a fan of extrapolating from the specific to the general (anecdata). I think it makes more sense to research the performance of a range of past loans on FS. Some loans are good, others less so. It's true however, that someone who can't stomach an occasional large loss, shouldn't invest in loans paying >10%.
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Post by mrclondon on Nov 20, 2017 12:33:06 GMT
I've just removed several posts from view as they seemed at odds with the forum rule "Polite and constructive dialogue", and the level of "noise" on this thread was in danger of drowning out the key message to Funding Secure to reconsider this loan (or at least provide some additional clarity) that many of the contributors to this thread want to convey.
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r1200gs
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Post by r1200gs on Nov 20, 2017 13:18:45 GMT
Just in case everyone thinks someone else must have brought this to the attention of FS, I've asked them to come and look at what we have here and to comment.
According to Stacie there is a PG in place.
Well, that's a relief then.
Not.
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Post by boudicca on Nov 20, 2017 13:22:11 GMT
If tempted by this investment immediately look up recent updates to the powerboat loan. After that if you still think to invest your financial future is bleak. Took a look at the Power Boat thread - Looks like it's been overrun by trolls and serial complainers.
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awk
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Post by awk on Nov 20, 2017 14:46:16 GMT
Hi @cooling_dude
Are you saying that something is being discused within DD Central, but isn’t being shared here ? I thought that the whole point was that we would receive a suitably edited version HERE !!!
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r1200gs
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Post by r1200gs on Nov 20, 2017 15:05:26 GMT
Hi @cooling_dude Are you saying that something is being discused within DD Central, but isn’t being shared here ? I thought that the whole point was that we would receive a suitably edited version HERE !!! Not me - I don't post on DD-C Apparently I rattled somebodies cage (and that person is on the button as it was reported very quickly after my post) so save any issues I removed said post I very much appreciated your post. How come you don't post on DD-C?
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oldgrumpy
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Post by oldgrumpy on Nov 20, 2017 15:32:26 GMT
Removed because apparently it could be liable If you put it back will it be reliable? OK, I'll shut up. 
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Post by mrclondon on Nov 20, 2017 15:41:10 GMT
I've posted the background to the now removed post on the DD Central FS DD board.
It certainly looked to my untrained eye that it would be very difficult to prove what the OP was implying, and its removal was probably sensible.
EDIT:
In redacted form, a former director/shareholder of a Lendy borrower (PBL106) is believed to live in a property adjacent to this development site. The current director/shareholder of Lendy loans PBL106 and PBL095 (both in default) registered a new company in July 2017 and at that time declared his correspondence address as one relatively close to this site.
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Liz
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Post by Liz on Nov 20, 2017 16:48:35 GMT
UPDATE:
"We have received additional clarification from the valuer regarding the valuation. They have confirmed that the value of the site is based on existing detailed planning consent for ”the erection of office and industrial park on the site of the former RAF T******”. The planning is extant and is relevant to the subject land.
The specific condition in the planning is that the land has consent under use classes 4,5&6 and is restricted to airport operational and directly associated activities. The consent was granted in 2009 and has a reference of <see FS site for planning ref> with Edinburgh Council Planning Department
The valuer has also confirmed there was a clerical error within the report stating that it was not suitable for lending purposes. This has now been corrected and an updated valuation report has been uploaded."
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greenslime
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Post by greenslime on Nov 20, 2017 16:51:13 GMT
FS have now posted an update on this loan. Since I'm unsure of the propriety of quoting verbatim from their website, I won't. But the 'clerical error' referred to did cause me utter a word unsuitable for a vicarage tea party .....
Edit: OBE
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sirius
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Post by sirius on Nov 20, 2017 17:06:08 GMT
Are you sure....... really sure......that it was an error!!!   |
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adrian77
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Post by adrian77 on Nov 20, 2017 18:54:10 GMT
How interesting- great DD !
Of course it could all be a coincidence....
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gurberly
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Post by gurberly on Nov 20, 2017 19:21:23 GMT
When you have dog poo on your shoe, you can walk around all day smelling the s.h.i.t without seeing the dog. The smelly circumstantial evidence on your shoe means the dog is close by.
Irrefutable fact or the balance of probability?
No facts, but it don't half smell.
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Post by harryvederci on Nov 20, 2017 19:52:56 GMT
FS cant say they havent been warned (for future reference)
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sarahcount
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Post by sarahcount on Nov 20, 2017 20:03:23 GMT
Borrower found The borrower is connected to PBL095 & PBL106 on LY (same Director and 100% SH). Coincidentally (and I'm sure it is just a coincidence - not accusing anyone of anything) the previous Director of the borrower lives in the house attached to the land. I'm out - I won't go into any further detail because it may be labial
Disclaimer : Info not from DD-C Labial? Now I am interested.
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