ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168 
Likes: 4,859
|
Post by ozboy on Dec 17, 2017 21:50:37 GMT
New Loan coming Tomorrow - As at 21:50 absolutely NOTHING on the FS website to enable DD, this is taking the proverbial ...........  Or taking Investors for granted. Date/Time: Monday 18 December 2017 at 11am Interest: 13% Loan amount: £910,000 LTV: 65% Bonuses: Yes Cashback: No Restrictions: None Overview: A 6 month loan secured by a first legal charge against a development site in Oswestry, Shropshire. The clients require the funds to purchase the site that has full planning in place to construct a Garden Centre. The centre will have retail space of 5,500sqm of which 1,400sqm will be allocated to independent concessions. The centre has provision for 250 parking spaces. The loan will be repaid through longer term development finance as well as own funds. The borrower is in the process of selling a series of lodges constructed nearby. Borrower is an experienced local builder and property developer having developed, amongst others, the L**** Q*** Hotel in Oswestry and L*** M****** Hotel, also in Oswestry. They built and operated the M****** P*** G***** C***** which they ran for 16 years before selling to W******. |
|
woodland
Member of DD Central
Posts: 95
Likes: 42
|
Post by woodland on Dec 17, 2017 22:16:36 GMT
Can I ask how you know this is launching tomorrow 11.00am? Not listed on FS website as far as I can see.
|
|
|
|
Post by dan1 on Dec 17, 2017 22:22:16 GMT
Can I ask how you know this is launching tomorrow 11.00am? Not listed on FS website as far as I can see. Email at 21:00 this evening
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Dec 17, 2017 22:23:33 GMT
Can I ask how you know this is launching tomorrow 11.00am? Not listed on FS website as far as I can see. Just opened my e.mail...notification sent out at 21.00 hrs sorry...beaten to it..just Edit...there is some further info on FS DD
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Dec 17, 2017 22:35:08 GMT
Still nothing on FS' own website @ 22:36, presumably we are to blindly invest on pure trust.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Dec 17, 2017 22:46:07 GMT
Still nothing on FS' own website @ 22:36, presumably we are to blindly invest on pure trust. "There are none so blind as those who will not see"....joking..honestly 
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Dec 17, 2017 22:49:12 GMT
Does The FCA allow the offering of an investment to the public with no accompanying information provided?
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Dec 17, 2017 22:59:53 GMT
Does The FCA allow the offering of an investment to the public with no accompanying information provided? Even my lateral thinking cant help you with that one..but a point might be made whether in fact it would be classed as an offering 'to the public'..in the sense that to take up the offer, one must be a registered 'member' of FS and by definition therefore, it isn't open to the public at large..just a thought. As for further revelations prior to 11am, other than what is already enclosed via e.mail, is a moot point. I suspect that 'what you see is what you will get' ..literally
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Dec 17, 2017 23:09:51 GMT
Does The FCA allow the offering of an investment to the public with no accompanying information provided? Obviously they do and there is little to go on in FS DD. No doubt it will fill as per usual whether the details are forthcoming or not. Really zero time to do any proper DD but as the loan details appear IMO to becoming fewer and fewer with the loans being filled then why bother. Or is it just my imagination over the fewer and fewer details?
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Dec 18, 2017 9:14:34 GMT
Executive summary now available on the FS site although redaction not comprehensive.
Further details on the FS DD Central.
|
|
|
|
Post by waryinvestor on Dec 18, 2017 10:53:56 GMT
I think they do it deliberately so that any DD can't be done b4 these loans are sucked up. They have a list of excuses, if you ask. Looks like they are heading the L* way.
|
|
|
|
Post by brightspark on Dec 18, 2017 11:16:47 GMT
I take the view that earlier correspondents on this subject are being a little harsh on this one. I too received an e-mail at 9.00pm last night notifying me of this investment opportunity going live at 11.00am the following day. The notification did contain a resume of the investment. This morning further details were available on the up-coming portion of the loans website. The details did confirm that planning permission for the garden centre existed as opposed to being somewhere in the pipeline and provided background information enabling a judgement to the suitability of the borrowers. FS DD information can be lacking (wind turbine just needing connection to the grid?) but I would opine that this is one of their better offerings and I have invested an average sum (for me) in it. Time will tell and I may yet eat my words.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Dec 18, 2017 11:19:40 GMT
I don't think we're being harsh. At all. It's OUR money. The VR could easily have been posted at the same time, and 9 pm the night before an 11 am "Go live" seems to be the FS norm these days and does not garner Investor confidence.
Whether or not it is a good offering was not the initial discussion, it's the timing of the information provided that was and is questioned.
|
|
|
|
Post by waryinvestor on Dec 18, 2017 11:33:16 GMT
Exactly. We are not discussing about this loan in particular (as DD wasn't done - so might turn out to be a good one), but the general trend on FS. Even for Loan Renewals, they leave it to the 11th hour expecting everyone to be logged in all the time. Now, not many people would like to do a blanket 'Renew All' at the time of Investment. A more sensible thing would be to see how things progress during the 6 months and then decide to renew or not nearer the time. Most of the time these renewals are not on time (sometimes delayed by months with no updates) and all of a sudden you get an email, often after 21:00 for a next mrning renewal. These leave many with no time to even click the renewal button (should they wish to), let alone doing a further DD. They keep giving various reasons for not being able to give enough notice / updates (eg., double interest, etc.), but what I don't understand is why can't they at least give a heads up (not unreasonable to expect a few days) to what the borrowers intentions are. I find it hard to believe that they have absolutely no clue to the borrowers intentions until 10 pm the previous night. And even if that is true, that doesn't inspire much confidence. This is just my opinion and I fully appreciate that others might not agree.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Dec 18, 2017 12:12:48 GMT
Blimey, you're one Sleuth, Dude! |
|
