r00lish67
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Post by r00lish67 on Jan 29, 2018 22:00:24 GMT
We've sort of given up moaning (incessantly at least) about this one since the small payback, but I did notice this update today, which I found amusing (for some stupid reason): "Legals still ongoing. There is a chance that the refinance will slip into the first week of February".Oh how I wish I could bet all my money on that chance definitely occurring. The best certainty in P2P world  Yes, I have a similar longstanding engagement over in the fields of Londonderry. Latest there: "We have had an ongoing dialogue with the borrower, once again confirming that refinancing is underway. Further updates will be posted as additional information is available.". <obscure reference warning> Reminds me of that bit in the Hitch-hikers guide to the Galaxy, where Zaphod ends up on a chartered passenger airline awaiting departure on a wasteland world, delayed due to a lack of lemon-soaked paper napkins. Except, it'll never depart because the whole of civilization on that world has been made extinct centuries ago. Nonetheless, the autopilot advises: "The statistical likelihood is that other civilizations will arise. There will one day be lemon-soaked paper napkins. Until then, there will be a short delay. Please return to your seat."
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Forward
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Post by Forward on Feb 8, 2018 22:39:15 GMT
Update 08/02/2018: We have now received confirmation from the lender's solicitor that they are in funds and ready to complete the transaction. We expect this to be in the next few days.
i wonder if the wait will soon be over (or fake news)
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Post by jakebullet on Feb 8, 2018 23:57:14 GMT
It's like a DFS sale with these updates. Yes, the DFS sale will be ending soon! Any minute now! Honest!
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hector
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Post by hector on Mar 2, 2018 11:58:25 GMT
Can anyone explain to me the below 2 most recent updates from FS on this farce (my italics & bold) -
37 mins ago
The refinance has not yet been completed. Whilst all due diligence has been completed, the lender, who is Dubai based, has not been able to get funds across. We are monitoring the situation closely and hope to have an update shortly.
08/02/2018
We have now received confirmation from the lender's solicitor that they are in funds and ready to complete the transaction. We expect this to be in the next few days.
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aj
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Post by aj on Mar 2, 2018 12:06:29 GMT
Funds are being transferred from Dubai via camels which are currently snowed in somewhere in central Europe.
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SteveT
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Post by SteveT on Mar 2, 2018 12:07:48 GMT
Which bit? The lender who, supposedly, is going to provide the funds to refinance the borrower's debt is, apparently, based in Dubai and, for reason's that are unclear, unable to actually get the money to the UK. Or the whole thing could be a complex fabrication on the part of the borrower. Actually, I suspect it's something close to the truth. When we might see the funds needed to clear the rest of this loan remains a mystery, as with so many long-overdue FS loans.
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hector
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Post by hector on Mar 2, 2018 12:20:45 GMT
Which bit? The lender who, supposedly, is going to provide the funds to refinance the borrower's debt is, apparently, based in Dubai and, for reason's that are unclear, unable to actually get the money to the UK. Or the whole thing could be a complex fabrication on the part of the borrower. Actually, I suspect it's something close to the truth. When we might see the funds needed to clear the rest of this loan remains a mystery, as with so many long-overdue FS loans. But how can the borrowers solicitors have been in funds & ready to complete on the 8th, then today the borrower be having problems in making a transfer?
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SteveT
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Post by SteveT on Mar 2, 2018 12:26:56 GMT
Which bit? The lender who, supposedly, is going to provide the funds to refinance the borrower's debt is, apparently, based in Dubai and, for reason's that are unclear, unable to actually get the money to the UK. Or the whole thing could be a complex fabrication on the part of the borrower. Actually, I suspect it's something close to the truth. When we might see the funds needed to clear the rest of this loan remains a mystery, as with so many long-overdue FS loans. But how can the borrowers solicitors have been in funds & ready to complete on the 8th, then today the borrower be having problems in making a transfer? It doesn’t say borrower’s solicitor. It says lender’s solicitor.
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hector
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Post by hector on Mar 2, 2018 12:35:04 GMT
But how can the borrowers solicitors have been in funds & ready to complete on the 8th, then today the borrower be having problems in making a transfer? It doesn’t say borrower’s solicitor. It says lender’s solicitor. Ahhh. 'Read the question'.....Schoolboy error, thanks.
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rogerthat
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Post by rogerthat on Mar 2, 2018 13:20:30 GMT
Funds are being transferred from Dubai via camels which are currently snowed in somewhere in central Europe. Snowflake camels perhaps..after all Hannibal crossed over the Alps with elephants..apparently 
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Steerpike
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Post by Steerpike on Mar 2, 2018 15:08:46 GMT
The intermediary has received confirmation that payment has been approved by the Swiss Dubai monetary authorities. The intermediary is currently in Switzerland Dubai and will remain there until funds are in his account.
Meanwhile interest continues to accrue.
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peteuk
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Post by peteuk on Mar 2, 2018 16:18:14 GMT
Down to two and a half grand now nearly out?, alittle bit more and i can just leave it too the occasional email every year or two where i might get a little bit back, i used to laugh at the updates ,but now they just annoy me best of luck everyone
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ashtondav
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Post by ashtondav on Mar 2, 2018 16:42:46 GMT
You seriously don’t read FS updates do you? It's not good for your health. Far better to sit down with a glass of wine, watch dads army and chill. Whatever the update it’s unreliable and you can’t do anything about it anyway.
if you dislike the nail biting uncertainty of property spivs, then use Zopa or RS. FS is for the brave and the foolhardy.
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adrian77
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Post by adrian77 on Mar 2, 2018 17:54:40 GMT
well I don't think it will!
I am fed-up of all this camel dung being regurigated to FS lenders as if we are idiots.
I have checked and the Dubai banking system is very efficient and business friendly - I mean they can investy in UK assets quickly enough! True they are strict with dodgy foreigners but good for them and the average time to transfer funds to the UK is one day!
I read this was "Expected end 27/08/2016"
This one is not looking good to me - these constant problems with property loans really worry me to the point I am tempted to cash in my entire FS portfolio.
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SteveT
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Post by SteveT on Mar 2, 2018 17:57:02 GMT
This one is not looking good to me - these constant probably with property loans really worry me to the point I am tempted to cash in my entire FS portfolio. I reckon it will be fine, eventually. Over half was already repaid a long time back, IIRC, so the borrower must be pretty keen to keep hold of the land.
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