copacetic
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Post by copacetic on Dec 15, 2017 21:42:27 GMT
This loan has currently been active for 428 days. Eventually I got a bit annoyed by the rather vague updates that FS have posted so I emailed them yesterday. To their credit they replied to my email today. One of the questions I asked was if "FS had seen any direct evidence apart from the borrower's word that a refinance is actually in progress?" and they replied that they had seen a final offer from the refinancing company and been in direct contact with them to verify it.
I'm not sure why they haven't posted this to their website as from the current updates it sounds like all the borrower is doing is making soothing noises and vague promises while FS sit back and watch. Hopefully this is of interest to anyone else shaking their heads at the update saga on this loan.
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Doc
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Post by Doc on Dec 19, 2017 15:41:40 GMT
This loan has currently been active for 428 days. Eventually I got a bit annoyed by the rather vague updates that FS have posted so I emailed them yesterday. To their credit they replied to my email today. One of the questions I asked was if "FS had seen any direct evidence apart from the borrower's word that a refinance is actually in progress?" and they replied that they had seen a final offer from the refinancing company and been in direct contact with them to verify it. I'm not sure why they haven't posted this to their website as from the current updates it sounds like all the borrower is doing is making soothing noises and vague promises while FS sit back and watch. Hopefully this is of interest to anyone else shaking their heads at the update saga on this loan. You'll be pleased to know then, that this loan will be renewing tomorrow.
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susan
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Post by susan on Dec 19, 2017 16:11:20 GMT
Looking forward to not being in this loan soon. It is one of several that are still in my main account and not in my ISA.
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james21
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Post by james21 on Dec 19, 2017 16:40:06 GMT
I too am looking forward to getting out of this one, ran for so long thought it was in trouble
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pier2pier
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Post by pier2pier on Dec 19, 2017 21:44:23 GMT
this & many others  |
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SteveT
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Post by SteveT on Dec 20, 2017 13:42:41 GMT
Now repaid, I’m pleased to see. And not before time.
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copacetic
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Post by copacetic on Dec 20, 2017 17:55:30 GMT
I and apparently most investors didn't renew since there was only about 27% on the new loan this morning when it launched. I've been repaid with interest even though the renewal is still only 33% filled. It's interesting to note that the new loan is increased just to pay the interest for the previous investors and the new value after all the buildings have been cleared happens to leave the LTV at 60%. The p-word springs to mind. Scary stuff.
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james21
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Post by james21 on Dec 20, 2017 19:29:46 GMT
Am delighted to be out of this one to make way for the next generation of mug punters
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madpierre
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Post by madpierre on Dec 20, 2017 19:38:40 GMT
Well for me all those asterisks spell Bl**dy H*ll. What a pleasant shock, although FS have a long way to go yet, but I promise not to swear about them for the rest of the day  |
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adrian77
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Post by adrian77 on May 12, 2019 9:08:26 GMT
this is after
here we go again ?
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r1200gs
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Post by r1200gs on Sept 26, 2019 10:41:54 GMT
645 days into this six month loan, they are finally issuing a demand and are going to put the (very expensive) receivers in. Anyone want to guess the capital loss on this one?
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jo
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Post by jo on Sept 26, 2019 11:17:45 GMT
645 days into this six month loan, they are finally issuing a demand and are going to put the (very expensive) receivers in. Anyone want to guess the capital loss on this one? I have no problem with some loans turning sour - that's the risk we accept. 645 days, however, of pretending to believe some old baloney in order to avoid reality? That's a problem I won't accept.
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adrian77
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Post by adrian77 on Sept 26, 2019 12:12:12 GMT
Had a quick look at the company accounts etc - bit puzzled but worried
This company has a very flash web site.... don't judge a company by its web site as my Grandmother nearly said!
So this major company can't be contacted - yeah right
I guess a 67% capital loss
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Post by mrclondon on Nov 13, 2019 14:19:36 GMT
Loan has been defaulted on the website.
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iRobot
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Post by iRobot on Oct 22, 2021 18:40:43 GMT
Update made a few hours ago on this one: " The receivers, via their agents, Sanderson Weatherall, have recommended a 7 day deadline (to 26/10/2021) for best bids." Facts and figures: Loan amount: £660k Accrued interest: £330k Valuation £1.1m Side note: the Valuation was an 'as is' figure provided in Dec 2017 by an estate agency named 'beercocks'. One hopes their valuation stands up to scrutiny!   |
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