trium
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Post by trium on Feb 28, 2019 10:24:20 GMT
I did flirt with the idea of a speculative top-up. For about thirty seconds. But some have obviously been tempted as the 13% loan on No 9 is no longer available at -1% though there's still plenty of the 12% loan to the same borrower (and subject to the same update) on Nos 1-3. If you do fancy a gamble beware of being attracted to the highest "effective rate" offered by the oldest tranches because, of course, all these will actually repay (or not as the case may be) on the same date. Therefore all actual effective rates will be roughly the same so it makes sense to pay less accrued interest on a more recent tranche and to retain the option to sell on for longer (subject to not being suspended) They are more likely to renew making the effective rate accurate. I thought the motive for buying was that the loan(s) look set to refinance and buyers will be hoping for an early payback of a 1% discount. One is therefore pretty much expecting that renewal won't happen, in which case buying older tranches is not your best move.
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IFISAcava
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Post by IFISAcava on Feb 28, 2019 10:27:40 GMT
They are more likely to renew making the effective rate accurate. I thought the motive for buying was that the loan(s) look set to refinance and buyers will be hoping for an early payback of a 1% discount. One is therefore pretty much expecting that renewal won't happen, in which case buying older tranches is not your best move. on loan renewal you don't have to renew your individual loan parts.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Feb 28, 2019 13:16:09 GMT
I thought the motive for buying was that the loan(s) look set to refinance and buyers will be hoping for an early payback of a 1% discount. One is therefore pretty much expecting that renewal won't happen, in which case buying older tranches is not your best move. on loan renewal you don't have to renew your individual loan parts. I agree automatically renewing this kind of loan is not prudent. They rarely fill immediately and further dilligence would be advisable.
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Post by spareapennyor2 on Jun 5, 2019 11:51:23 GMT
update on site
talk about magic roundabout or is it hokey cokey
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Post by multiaccountmanager on Jun 5, 2019 12:07:28 GMT
"2 hours ago
Following FS’s decision to cease funding this Development, the Borrower has since submitted a Planning Application which has experienced some delay. A decision is expected soon and once the approval is obtained will provide an uplift to the value of the Security. This will put the Borrower in the best position to either seek refinance to redeem the loan or sell the security. We will provide a further update once we have been advised of the outcome of the Planning Application.
10/04/2019
We are communicating with the Borrower and are now waiting for a proposal in writing.
26/02/2019
The borrower has requested - and we have provided, a full redemption statement. They have indicated they have obtained refinance - we are now waiting for proof of the refinance and a timeframe to complete."
Huh? When did FS decide to cease funding? Did I miss something?
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Post by multiaccountmanager on Jun 5, 2019 12:11:58 GMT
Also I cannot see the planning application on the Liverpool planning site.
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rogerthat
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Post by rogerthat on Jun 5, 2019 12:19:00 GMT
And I cant see the update on the FS update thread..for either site in the same Liverpool avenue..
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Post by spareapennyor2 on Jun 5, 2019 12:32:42 GMT
2 hours ago
This will put the Borrower in the best position to either seek refinance to redeem the loan or sell the security.
26/02/2019
The borrower has requested - and we have provided, a full redemption statement. They have indicated they have obtained refinance - we are now waiting for proof of the refinance and a timeframe to complete.
clearly FS didn`t get proof again 3 months on really
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rocky1
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Post by rocky1 on Jun 5, 2019 13:31:31 GMT
Full of Sh*te that what FS stands for.took over where LY left off.only a matter of time for these P*ss takers as well.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jun 5, 2019 22:26:17 GMT
Full of Sh*te that what FS stands for.took over where LY left off.only a matter of time for these P*ss takers as well. Time for a chill pill before you burst a blood vessel. 
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rocky1
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Post by rocky1 on Jun 6, 2019 5:33:49 GMT
Thanks for your concern godanubis.my blood pressure and vascular health is excellent at this time.ileft the FS table a long time ago and just the little matter of a large five figure sum+interest some going back over 3 years for these cowboys to sort out.on the plus side of not wasting any more funds with a few of these outfits I have been chilling in Goa over the new year and just came back from a great reunion in Cyprus.2 more booked to bring me back round to the new year.look after your family and friends and enjoy life.you can't take it with you.good luck to you.
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Post by multiaccountmanager on Jul 19, 2019 12:56:46 GMT
"05/06/2019 Following FS’s decision to cease funding this Development, the Borrower has since submitted a Planning Application which has experienced some delay. A decision is expected soon and once the approval is obtained will provide an uplift to the value of the Security. This will put the Borrower in the best position to either seek refinance to redeem the loan or sell the security. We will provide a further update once we have been advised of the outcome of the Planning Application"
Once again (See Plymouth Hotel 2nd Charge) it seems there may be a long wait for an update as it would appear that no valid planning application has been received by Liverpool Council.<Attachment removed by mod as it identifies the asset> Apologies if I have inadvertently transgressed. It would appear there are TWO FS loans on N**** Avenue, Nos 1-3 and No. 9, and this thread relates to the one in which I am not invested. It would appear that the loan for the property on this thread, 2764887514, DOES have a recent planning application, for No 9 N*** . HOWEVER it does not explain why FS has applied the same update at the same time to both this loan and the other one in the Road. The other property does not have an application and is a different security. I will take this up with FS direct. |
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Post by multiaccountmanager on Jul 23, 2019 20:13:27 GMT
Regarding the loan on No. 1-3 FS confirm the 5 June update was not applicable and was an admin error.
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arby
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Post by arby on Jul 23, 2019 20:58:29 GMT
Regarding the loan on No. 1-3 FS confirm the 5 June update was not applicable and was an admin error. Did I miss some communication or did that in a direct chat with you? Either way, thank you for the update.
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Post by brummiefred on Jul 23, 2019 22:49:29 GMT
However, the planning application for No.9 has a direct relevance to No.1-3 if successful.
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