pip
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Post by pip on May 10, 2019 12:20:30 GMT
This relates to the loans relating to 5 park homes of which 2 have now been confirmed to have been sold at auction. The total loans excluding interest was £228k
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Doc
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Post by Doc on May 10, 2019 12:48:40 GMT
pip, would be interesting to read your blog, do you have a link ?
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adrian77
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Post by adrian77 on May 10, 2019 12:52:25 GMT
Great poll - well some of us have got it badly wrong as the votes are currently between £5K (max) and over £100K!
For my fellow lenders I hope the £100K+ vote is correct but I can't see it...
updated - now between < £500 and > £100K - about as divided as Brexit!
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pip
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Post by pip on May 10, 2019 12:54:28 GMT
pip, would be interesting to read your blog, do you have a link ? I have no idea why my profile says that, I am afraid I have no blog!
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coop
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Post by coop on May 10, 2019 13:44:01 GMT
Going for <£50k net. Think they have probably gone for a bit over £50k prior to deductions
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pip
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Post by pip on May 14, 2019 11:47:03 GMT
Thanks for everyone's votes, the poll is now closed. The highest band was £20-50k. Let's see what the outcome is.
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adrian77
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Post by adrian77 on May 14, 2019 12:08:41 GMT
indeed - disappointed FS have not yet done an update on this despite the fact the auction closed over 10 days ago... hopefully sometime today?
Will be interesting to see what these things went for and also to see how close or not the forum voters were in their estimation.
Hopefully this one won't be as bad as Whitehaven?
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09dolphin
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Post by 09dolphin on May 14, 2019 12:37:02 GMT
indeed - disappointed FS have not yet done an update on this despite the fact the auction closed over 10 days ago... hopefully sometime today? Will be interesting to see what these things went for and also to see how close or not the forum voters were in their estimation. Hopefully this one won't be as bad as Whitehaven? I can't think why FS are being slow in providing an update. Sorry but I can think of several reasons why FS are being slow - but that's just me being cynical. I guess they may give an update at about 2230 hours when people are thinking about bedtime or perhaps in 3 weeks. Obviously they will be anxious that investors have as complete a picture as possible as soon as possible!
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Post by spareapennyor2 on May 14, 2019 12:45:14 GMT
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arby
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Post by arby on May 14, 2019 12:45:28 GMT
indeed - disappointed FS have not yet done an update on this despite the fact the auction closed over 10 days ago... hopefully sometime today? Will be interesting to see what these things went for and also to see how close or not the forum voters were in their estimation. Hopefully this one won't be as bad as Whitehaven? I can't think why FS are being slow in providing an update. Sorry but I can think of several reasons why FS are being slow - but that's just me being cynical. I guess they may give an update at about 2230 hours when people are thinking about bedtime or perhaps in 3 weeks. Obviously they will be anxious that investors have as complete a picture as possible as soon as possible! They typically wait long enough to receive a full accounting of all administrator and sale expenses so they can give a net balance received. Or maybe the sale didn't go through.
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adrian77
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Post by adrian77 on May 14, 2019 15:22:14 GMT
possible but a few days ago the auction house said all units were sold - I really hope the FS investors aren't told these things aren't sold!
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arby
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Post by arby on May 14, 2019 15:47:23 GMT
possible but a few days ago the auction house said all units were sold - I really hope the FS investors aren't told these things aren't sold! Good news. So it's clear that FS are doing as they usually do which is to wait a few weeks while they confirm what the net proceeds are.
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petrichory
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Post by petrichory on May 14, 2019 20:01:41 GMT
Or how about a poll on when we get our £85k from the Financial Services Compensation Scheme?
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pip
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Post by pip on Jun 24, 2019 15:35:45 GMT
The result was £24,892. That means this poll was actually a good predictor of the outcome on this occasion.
While only a 15% recovery this is better than I thought this would get. Still a horrible loss. Completely misleading prospectus, there were never 5 homes against which this loan was secured. The two homes that did exist had a recovery value of less than a third of the published value.
If I had more time on my hands I would be complaining, but in all honesty I can't be bothered and am glad to just get something back.
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jcb208
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Post by jcb208 on Jun 24, 2019 15:43:29 GMT
Yep another massive hit, can't wait until my other loans are finalised so I can forget about fundingsecure and move on
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