adrian77
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Post by adrian77 on Jan 17, 2019 15:17:03 GMT
"limited" - more like totally stuffed in my opinion. Maybe increasing this loan wasn't very clever?
All the first charge holder is going to do (understandably) is ditch this one to the first buyer who covers his capital, interest and costs and not give a monkey's about FS
Looks like another FS disaster to me - and Teresa May thought her year started badly...
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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 Jan 17, 2019 15:29:01 GMT
"limited" - more like totally stuffed in my opinion. Maybe increasing this loan wasn't very clever? All the first charge holder is going to do (understandably) is ditch this one to the first buyer who covers his capital, interest and costs and not give a monkey's about FS Looks like another FS disaster to me - and Teresa May thought her year started badly... I do believe the first charge holder receiver has the legal duty to get the best deal for ALL interested parties and can’t just sell to cover 1st charge interests. So anything obtained should be the best possible which will probably result in losses but nothing is certain except it will take time. If it wasn’t the case a few could get together and buy the property for the first charge cost.
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adrian77
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Post by adrian77 on Jan 17, 2019 16:05:47 GMT
I think he can - any legal beagle able to comment? Remember Wimbledon!
Whatever this looks another complete horlicks to me...
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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 Jan 18, 2019 2:05:20 GMT
I think he can - any legal beagle able to comment? Remember Wimbledon! Whatever this looks another complete horlicks to me... The property used as security could not be sold without removal of the charges registered so some agreement would need to be arranged with FS. FS are trying to circumvent negotiations with first charge holder by "but are ensuring that our interests are noted and we are taking advice on any routes whereby we can secure repayment of investors funds without waiting for the first charge receivers to discharge their duties.
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arby
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Post by arby on Apr 30, 2019 12:21:07 GMT
To be repaid in full - Capital £388k Yep, good result even on a 2nd charge after over a year.
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Doc
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Post by Doc on Apr 30, 2019 12:21:14 GMT
"limited" - more like totally stuffed in my opinion. Maybe increasing this loan wasn't very clever? All the first charge holder is going to do (understandably) is ditch this one to the first buyer who covers his capital, interest and costs and not give a monkey's about FS Looks like another FS disaster to me - and Teresa May thought her year started badly...
To be repaid in full - Capital £388k Interest TBA
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arby
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Post by arby on Apr 30, 2019 12:31:31 GMT
"limited" - more like totally stuffed in my opinion. Maybe increasing this loan wasn't very clever? All the first charge holder is going to do (understandably) is ditch this one to the first buyer who covers his capital, interest and costs and not give a monkey's about FS Looks like another FS disaster to me - and Teresa May thought her year started badly...
To be repaid in full - Capital £388k Interest TBA I noted it didn't explicitly state the interest to be paid too, but as FS state the loan is "to be repaid in full", I would strongly hope the full interest is covered.
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adrian77
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Post by adrian77 on Apr 30, 2019 13:01:31 GMT
good result - very surprised but there you go
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Doc
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Post by Doc on Apr 30, 2019 13:14:01 GMT
To be repaid in full - Capital £388k Interest TBA I noted it didn't explicitly state the interest to be paid too, but as FS state the loan is "to be repaid in full", I would strongly hope the full interest is covered.
Looks like full Interest too (£58K), good result for the lenders involved.
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trium
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Post by trium on Apr 30, 2019 13:24:54 GMT
 What a difference a day makes
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Doc
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Post by Doc on Apr 30, 2019 13:28:06 GMT
good result - very surprised but there you go
There you go ... I'm sure any lenders in the loan that read your previous update 'Looks like another FS disaster to me' will also be pleasantly surprised too.
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neal
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Post by neal on Apr 30, 2019 16:08:24 GMT
Another one I'm happy to be out off. Only 80% of my holding is behind payment schedule now 🤔
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