spockie
Member of DD Central
Posts: 299 
Likes: 84
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Post by spockie on Sept 11, 2014 21:18:40 GMT
New loan previewing. 24 months at 10%.
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Post by jevans4949 on Sept 12, 2014 1:32:26 GMT
Interesting one. On the face of it, good people buggered by the banks and their tame consultants again. (Unless they are hiding something.)
I'm happy to put in my (small) contribution.
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thebillet
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Likes: 21
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Post by thebillet on Sept 12, 2014 6:49:49 GMT
Sheesh, caught in storm caused by banks and a changes brought by CQC. They look as though they have done well to get where they are now, I'm off to read the CQC reports.
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Post by batchoy on Sept 12, 2014 13:57:41 GMT
Proof if ever of the adage, 'if you can't do it, teach it and if you can't teach it, advise on it'.
Care homes are an area that I am very wary of as they can be very susceptible to local authority budgets and state imposed requirements be they performance or structural based. As well as getting an undeserved bad reputation through hearsay put about by relatives of residents who have an axe to grind, which can adversely affect the taking on of new residents. The other issue is that valuations tend to assume that the property is not the cause of the business failing, locally we have seen care homes closing because it has not structurally and thus commercially viable to make the necessary modifications to meet statutory requirements, with the result that once on the market they have very much sold based on and at their underlying land value.
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Post by buggerthebanks on Sept 15, 2014 20:46:01 GMT
Interesting one. On the face of it, good people buggered by the banks and their tame consultants again. (Unless they are hiding something.) I'm happy to put in my (small) contribution. Did you call??? 
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shimself
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Post by shimself on Sept 16, 2014 12:23:45 GMT
Interesting one. On the face of it, good people buggered by the banks and their tame consultants again. (Unless they are hiding something.) This sounds like the infamous RBS restructuring operation getting their comeuppance (correction, the RBS shareholders getting the comeuppance). It's not completely clear but it sounds like RBS have actually lost getting on for £1M as a result of their shenanigans.
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Post by Ton ⓉⓞⓃ on Sept 16, 2014 13:09:07 GMT
This sounds like the infamous *** restructuring operation getting their comeuppance (correction, the *** shareholders getting the comeuppance). It's not completely clear but it sounds like *** have actually lost getting on for £1M as a result of their shenanigans. They might've stuck with the borrower but... ( THIS POST might be one reason why they decided to clear their books)
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shimself
Member of DD Central
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Post by shimself on Sept 18, 2014 13:22:20 GMT
Sheesh, caught in storm caused by banks and a changes brought by CQC. They look as though they have done well to get where they are now, I'm off to read the CQC reports. What sayeth CQC?
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thebillet
Member of DD Central
Posts: 64
Likes: 21
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Post by thebillet on Sept 18, 2014 13:45:20 GMT
CQC gives the rating of meeting all standards. The new system whereby CQC giving a comparative grade is not yet in place. Their satisfaction rating is higher than they had before. I was impressed that they had a dedicated activities Co-ordinator something some homes see as non productive because they are not actively involved in the personal care of residents. Places I have seen that use these tend to be more thoughtful homes with a more positive atmosphere. The remarks from users staff and relatives were generally very good, there were one or two criticisms but nothing that sounded alarm bells. Much of the improvement I think comes from the current manager, although I must confess some of this is embedded in the credit report so that might have influenced my thoughts. I live close by, under 15 miles away and can also confirm there is some affluence in the area. I have been involved with another service provider in p2p terms lately and only did my DD after investment, silly I know but with this one CQC was my first port of call. This offering is streets ahead of my other investment which fingers crossed will be ended soon.
Hope this helps.
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Post by Ton ⓉⓞⓃ on Sept 25, 2014 11:12:26 GMT
Auction seems to have just been extended by about a week. From 1day to go now it's 8days 3hours.
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thebillet
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Post by thebillet on Sept 25, 2014 11:43:02 GMT
I wonder if the likely redemption of at least one bridging loan scheduled for this week has had an effect? Putting a bit back into people's accounts.
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mikes1531
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Post by mikes1531 on Sept 25, 2014 13:57:40 GMT
Putting a bit back into people's accounts. It's more than just "a bit"! The one bridging loan that we were told to expect a settlement this week -- though the week is just about over and an update has been promised for later today -- was for over £2M. A critical question for AC is... How much of that will stay within AC and how much will be withdrawn?
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thebillet
Member of DD Central
Posts: 64
Likes: 21
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Post by thebillet on Sept 25, 2014 14:04:35 GMT
Ok then, a big bit  . |
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Post by Ton ⓉⓞⓃ on Sept 25, 2014 14:11:49 GMT
Ok then, a big bit . I was assuming that £2m was a little for you?
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unmadem
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Post by unmadem on Oct 3, 2014 9:54:51 GMT
Only 5 hours to go and still not fully funded or underwritten. Not sure why, very low ltv at 39% and usual 10% interest rate. Seem an ok loan or am I missing something ?
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