jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 21, 2017 15:31:47 GMT
If it renews at a better LTV say a new loan for £800k and with the prospect of more entertaining tales of pending funds transfers from around the world, I may even roll over. To be honest I think we've all "rolled over" on this one many months ago 
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Post by spareapennyor2 on Aug 21, 2017 15:43:02 GMT
not in this
but if i can get the swiss bank to transfer some money maybe
now what`s the number of the account i had
bet you see money moving out of this loan faster than the swiss bank ROFL
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,809
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Post by jonno on Aug 21, 2017 15:49:23 GMT
not in this but if i can get the swiss bank to transfer some money maybe now what`s the number of the account i had bet you see money moving out of this loan faster than the swiss bank ROFL Good plan, BUT: make a transfer from this particular Swiss bank and you won't see your money until 2019 at best 
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Liz
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Post by Liz on Aug 21, 2017 15:52:17 GMT
If it renews at a better LTV say a new loan for £800k and with the prospect of more entertaining tales of pending funds transfers from around the world, I may even roll over. This will only renew if "borrower expects" turns out to be true.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Aug 21, 2017 16:18:24 GMT
What investors are going to touch this when it renews? Only ones that do no research and look back at the previous loan data and updates.
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Post by mrclondon on Aug 21, 2017 16:22:51 GMT
If it renews at a better LTV say a new loan for £800k and with the prospect of more entertaining tales of pending funds transfers from around the world, I may even roll over. What investors are going to touch this when it renews? Only ones that do no research and look back at the previous loan data and updates. The £1m loan is about to be split into a £390k loan to be repaid including full interest, and an ongoing loan of £610k continuing to acrue. The renewal will only happen after a further repayment from the borrower (which FS say is expected to be "substantial"). The ongoing loan of £610k will be c. 65% LTV wrt consented development land in the area, and c. 300% LTV wrt brownfield land. If a further repayment takes the loan down to say £450k (c. 50% LTV wrt consented development land in the area/ c. 200% LTV wrt brownfield land), there will probably be enough of the high risk takers to get a renewal through, albeit slowly. (My post from last September explains how I've dervived the land valuations.)
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
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Post by stub8535 on Aug 21, 2017 17:00:05 GMT
If it renews at a better LTV say a new loan for £800k and with the prospect of more entertaining tales of pending funds transfers from around the world, I may even roll over. What investors are going to touch this when it renews? Only ones that do no research and look back at the previous loan data and updates. The £1m loan is about to be split into a £390k loan to be repaid including full interest, and an ongoing loan of £610k continuing to acrue. The renewal will only happen after a further repayment from the borrower (which FS say is expected to be "substantial"). The ongoing loan of £610k will be c. 65% LTV wrt consented development land in the area, and c. 300% LTV wrt brownfield land. If a further repayment takes the loan down to say £450k (c. 50% LTV wrt consented development land in the area/ c. 200% LTV wrt brownfield land), there will probably be enough of the high risk takers to get a renewal through, albeit slowly. (My post from last September explains how I've dervived the land valuations.) All that is probably correct but look at the updates and think do I really want this trash again in 6 months?
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Steerpike
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Post by Steerpike on Aug 21, 2017 17:09:59 GMT
I got 39% of my investment back plus 17.82% interest for the 542 day loan, so far so good, the borrower didn't walk away, so seems to want to hang on to the asset, and one of the mysterious transactions actually happened, so surprisingly a renewal at an improved LTV is worthy of consideration.
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btc
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Post by btc on Aug 21, 2017 18:08:19 GMT
not in this but if i can get the swiss bank to transfer some money maybe now what`s the number of the account i had bet you see money moving out of this loan faster than the swiss bank ROFL Good plan, BUT: make a transfer from this particular Swiss bank and you won't see your money until 2019 at best That's BS, my Credit Suisse AG Paradeplatz 8 Zurich payments are prompts, FS is not giving us the full story.
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Post by scrooge on Aug 26, 2017 11:00:50 GMT
What investors are going to touch this when it renews? Only ones that do no research and look back at the previous loan data and updates. Let FS leave it with the underwriters to pick up the slack - just as Lendy are increasingly having to do.
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ablender
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Post by ablender on Aug 27, 2017 6:20:30 GMT
I hope that the next transactions will not be abroad. The previous Swiss one related to cheese I believe, and it was full of wholes.
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Post by scrooge on Sept 3, 2017 10:33:06 GMT
Forgive my asking, but what happened to that money from the Swiss bank? All seems to have gone rather quiet........  |
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btc
Member of DD Central
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Post by btc on Sept 3, 2017 22:25:35 GMT
Forgive my asking, but what happened to that money from the Swiss bank? All seems to have gone rather quiet........ We are still waiting for the funds to be released from the Swiss transaction. As far as we are aware, all necessary formalities have been completed. fundingsecure are lying to us again
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Post by scrooge on Sept 4, 2017 7:27:39 GMT
Forgive my asking, but what happened to that money from the Swiss bank? All seems to have gone rather quiet........ We are still waiting for the funds to be released from the Swiss transaction. As far as we are aware, all necessary formalities have been completed. fundingsecure are lying to us again Funding Secure be less than honest? What are you suggesting? Next you'll be saying they are incompetent, gullible, fail to do proper due diligence and have weak underwriting procedures, libellous thoughts I would wish to detach myself from........... 
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Post by eascogo on Sept 4, 2017 10:36:30 GMT
Update a few minutes ago:
"The borrower remains close to realising further funds from the property transaction that yielded the initial payment. We believe this will take place in the week commencing 11 September.
The Swiss transaction is still in play but, as yet, has not materialised."
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