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Post by multiaccountmanager on Oct 30, 2020 12:25:56 GMT
The above is correct - not sure I am entirely happy with how the estate agent runs his business - also I seem to remember there was another bid higher than this so one if not 2 bidders dropped-out - really? Maybe they did but who knows... I read through DoorSteps Ts&Cs / 'How it works' / FAQ at the time the link was posted on FS DD. The £120k was the 'Starting Bid'. It's one set by the seller rather than an actual 'live' bid. I did monitor the auction listing up to the point it got tagged as 'Sale agreed' (or similar) toward the end of September (the auction itself was due to end - according to the 'clock' on the listing - at 2pm on the 5/10) and it was still showing as £120k at that point. We'll probably never know, but I suppose there's a possibility the borrower found some funding elsewhere, withdrew the auction (on the basis it seemingly wasn't attracting any interest at £120k) and agreed a redemption figure with CG/FS in the region of £80k. Lenders got their cap and interest (less CG's fee but that wasn't the borrower's concern) and FS got most of their fees / interest. Borrower got to keep the asset which they may subsequently be able to sell and make something on after all the various financing cots etc. Dunno. Just speculating out load. (Maybe Land Registry will provide a clue in a couple of months or so.) Just noticed the update introduction:- "The borrower has repaid the debt in full - investors will receive the full capital and interest due, less CG Fees. Details shown below" And none of the updates mention a receiver being appointed. Suggests total sale proceeds might not have gone to FS OR alternate funding arranged and no sale as yet.
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iRobot
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Post by iRobot on Oct 30, 2020 12:29:51 GMT
Just noticed the update introduction:- "The borrower has repaid the debt in full - investors will receive the full capital and interest due, less CG Fees. Details shown below" And none of the updates mention a receiver being appointed. Suggests total sale proceeds might not have gone to FS OR alternate funding arranged and no sale as yet. Good god - you don't actually read those things, do you!?! Goes to show, getting bogged down with the detail can result in missing the bigger picture....
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Post by multiaccountmanager on Oct 30, 2020 12:42:24 GMT
Just noticed the update introduction:- "The borrower has repaid the debt in full - investors will receive the full capital and interest due, less CG Fees. Details shown below" And none of the updates mention a receiver being appointed. Suggests total sale proceeds might not have gone to FS OR alternate funding arranged and no sale as yet. Good god - you don't actually read those things, do you!?! Goes to show, getting bogged down with the detail can result in missing the bigger picture.... Seems to me it shows that meticulous is good when dealing with money. The more we understand about what CG are doing, the better we can judge what to do about FCA claims is how I am looking at it. Must get round to submitting FCA claim though, in case I miss the boat on claim limits.......
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rogerthat
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Post by rogerthat on Oct 30, 2020 17:47:36 GMT
Good god - you don't actually read those things, do you!?! Goes to show, getting bogged down with the detail can result in missing the bigger picture.... Seems to me it shows that meticulous is good when dealing with money. The more we understand about what CG are doing, the better we can judge what to do about FCA claims is how I am looking at it. Must get round to submitting FCA claim though, in case I miss the boat on claim limits....... Erm...I hope you're a good swimmer then..AFAIK the closing date for submitting claims was 12th Nov (I think it had already been extended by a few weeks due to demand )..im sure someone from on high or even FSAG will clarify
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Post by multiaccountmanager on Oct 31, 2020 9:08:45 GMT
Seems to me it shows that meticulous is good when dealing with money. The more we understand about what CG are doing, the better we can judge what to do about FCA claims is how I am looking at it. Must get round to submitting FCA claim though, in case I miss the boat on claim limits....... Erm...I hope you're a good swimmer then..AFAIK the closing date for submitting claims was 12th Nov (I think it had already been extended by a few weeks due to demand )..im sure someone from on high or even FSAG will clarify Hmmm...... 12 November would not be a problem . In fact I think you mean October which was the extended date for submitting comments on the consultation to "clarify" the compensation scheme. But the "clarified" scheme can't come into effect until it has been through the consultation process, which is not yet as it has not yet been through Select Committee afaik. The October date was used by some on this forum and elsewhere to focus people's minds on sending in complaints, which was a good idea imho as there is no downside to that afaik.
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rogerthat
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Post by rogerthat on Oct 31, 2020 23:24:35 GMT
Erm...I hope you're a good swimmer then..AFAIK the closing date for submitting claims was 12th Nov (I think it had already been extended by a few weeks due to demand )..im sure someone from on high or even FSAG will clarify Hmmm...... 12 November would not be a problem . In fact I think you mean October which was the extended date for submitting comments on the consultation to "clarify" the compensation scheme. But the "clarified" scheme can't come into effect until it has been through the consultation process, which is not yet as it has not yet been through Select Committee afaik. The October date was used by some on this forum and elsewhere to focus people's minds on sending in complaints, which was a good idea imho as there is no downside to that afaik. Yes..I stand corrected..apologies..the strain is beginning to show
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