mjc
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Post by mjc on Jan 11, 2019 20:49:23 GMT
So it does, shows FS do read these posts! Quality control is same on updates as on lender vetting, and their exit routes. Anyway at least this shouldn’t be near 100% loss.
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adrian77
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Post by adrian77 on Jan 12, 2019 10:42:40 GMT
Well here we have yet another example of the highly professional standard of business English from FS!
From the OED
"illicit" is a an adjective and not an infinitive so "illicited" is gibberish
Here we have a company with hundreds of millions of our money and they can't even speak elementary English nor even get their replies checked.
This is a joke although I wonder if there is a Freudian slip here!
I did have this one noted ready for my mega list but won't add it now although I think I did comment on this one. Whatever yet again I wonder where all the money (£995K) has gone and the valuation strikes me as 100% over the odds...another interesting one to follow
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jcb208
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Post by jcb208 on Jan 16, 2019 15:56:09 GMT
loan now defaulted, incompetent company with another bad loan to add to my growing list
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adrian77
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Post by adrian77 on Jun 13, 2019 23:38:00 GMT
i.e. cock all genuine interest and no sign of the readies - this one looks vastly overpriced to me and I wonder if this one will be yet another mega disaster. Can anybody local comment
I thank you.
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coop
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Post by coop on Jun 18, 2019 11:45:44 GMT
Let's hope the valuation wasn't too bad or else it's haircut time again!
Just under £1m lent, now over £1.2m owed including interest, £1.4m valuation but unsold after well over a year of marketing; receivers fees, legal fees etc to pay.
On a good day hopefully no capital loss but I think full interest recovery looking increasingly unlikely
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Post by mikeyb999 on Jun 18, 2019 20:43:35 GMT
i.e. cock all genuine interest and no sign of the readies - this one looks vastly overpriced to me and I wonder if this one will be yet another mega disaster. Can anybody local comment I thank you. I know the area a little - although its classed as Chepstow (which is doing well since the severn bridge toll was dropped) its actually a fair way out. Both properties are listed on Rightmove and the combined asking price looks a bit light to cover the loan and interest, and TBH I think they need to be a bit cheaper to sell
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Post by mrclondon on Sept 10, 2019 10:27:50 GMT
fundingsecure since the last update you provided us with c. 6 weeks ago the two properties appear to have been removed from the market by the agent that had listed them in April of this year, and I'm unable to find any new listings. An update to explain what is currently happening is needed.
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adrian77
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Post by adrian77 on Sept 13, 2019 10:18:45 GMT
adrian77 translation - "looks like we are stuffed over this one as no punter is interested -looks like will will have to get rid of them at a mega loss" ...
I have just checked how much this loan was for - nearly had a Whitehaven attack!
£995K plus (by time completed) over 2 years interest so, I guess, about £1.4m - not looking good is it?
Wel to be fair to FS - at least it is defaulted.
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jcm9000
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Post by jcm9000 on Feb 6, 2020 10:55:12 GMT
And another one gone for heehaw compared to the loan amount, never mind the valuation. Ooouucccchhh. These were properties that were supposedly already refurbished!
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Mikeme
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Post by Mikeme on Feb 6, 2020 11:21:51 GMT
How did you ckeck the original? How do I check the amount I invested?
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jonno
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nil satis nisi optimum
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Post by jonno on Feb 6, 2020 11:32:57 GMT
How did you ckeck the original? How do I check the amount I invested? Log on to your FS account as in the past. Go to "your investments" and tab down the list until you see there has been an update against this loan. It will display what you've invested, the "valuation"and the total loan. On "updates" it will tell you what it sold for(yikes). Doesn't make for great reading. Prepare for a savage hair cut.
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rogerthat
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Post by rogerthat on Feb 6, 2020 11:40:34 GMT
Not that it will be any comfort to those who lose out in any of these loans across the LB that "go for a song" but it would be interesting to see how many of the purchasers have 'links' (tenuous or otherwise) to the original borrower.
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pfffill
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Post by pfffill on Feb 6, 2020 11:46:46 GMT
Not that it will be any comfort to those who lose out in any of these loans across the LB that "go for a song" but it would be interesting to see how many of the purchasers have 'links' (tenuous or otherwise) to the original borrower. It might be an interesting exercise, but taking any legal action were such links uncovered would be wearing, time-consuming, expensive and likely ultimately unsuccessful, unfortunately, and in my opinion.
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foolsgold
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Post by foolsgold on Feb 6, 2020 11:46:52 GMT
73 percent loss of capital on this one for me
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rogerthat
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Post by rogerthat on Feb 6, 2020 11:52:20 GMT
So..£6.75 back..for every £25 invested and no interest either  (edited..never was good at maths) |
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(edited..never was good at maths)