Post by adrian77 on Jul 4, 2018 21:35:54 GMT
19 mins ago
Despite bringing the debt up-to-date in May, the borrower has now also defaulted on the primary loan. We are therefore in discussion with the primary lender and their lawyers to agree on a common approach to avoid duplicate receiver's costs. An update will be added once an agreement has been reached.
Despite bringing the debt up-to-date in May, the borrower has now also defaulted on the primary loan. We are therefore in discussion with the primary lender and their lawyers to agree on a common approach to avoid duplicate receiver's costs. An update will be added once an agreement has been reached.
Have read the VR - sub-standard HMO which may or may not have a valid licence - if I were a betting man I would say not...
Property needs refurbishment before further letting - so expect legal action from tenants and/or Enforcement Notices from Newham Council. I once reported a dodgy property to Newham and they really went for the landlord!
29/01/2018
Borrower has confirmed that there was a problem with the bank transfer - the funds are in the process of being cleared and we should receive by Wednesday 31st January.
Borrower has confirmed that there was a problem with the bank transfer - the funds are in the process of being cleared and we should receive by Wednesday 31st January.
Not sure what the first charge is - does anybody know - I know the London market (although cooling) has been crazy but I can't see this valuation being accurate for a distressed property that needs major work.
Clearly this is yet another disaster - will these people ever learn!
I think this could easily be yet another FA premier league player i.e. over 74% capital loss
FS are even worse than FC and that is really saying something - I did not do enough DD before investing in FS ergo I am an idiot!