toffeeboy
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Post by toffeeboy on Jan 25, 2017 19:15:30 GMT
I can't believe you were still holding it at all, let alone 7k. As wiser men have pointed out, we won't always be able to rely on the secondary market and gullible punters to buy these loans. You dodged a bullet, or perhaps somebody took it for you? Fortunately i had shifted the 7k along time ago and only had 100 left in it. What i don't understand is why did ALL my overdue loans get sold within minutes; ~1000 quids worth. I would hazard a guess that all of the loans getting brought relates to PBL090 repaying which was for over £1.7 million so a lot of people would have had money in their accounts burning a hole in it.
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Post by petebutt43 on Jan 25, 2017 19:28:24 GMT
Fortunately i had shifted the 7k along time ago and only had 100 left in it. What i don't understand is why did ALL my overdue loans get sold within minutes; ~1000 quids worth. I would hazard a guess that all of the loans getting brought relates to PBL090 repaying which was for over £1.7 million so a lot of people would have had money in their accounts burning a hole in it. Looks like I dodged more than a few bullets then.
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Post by petebutt43 on Jan 25, 2017 19:33:38 GMT
Fortunately i had shifted the 7k along time ago and only had 100 left in it. What i don't understand is why did ALL my overdue loans get sold within minutes; ~1000 quids worth. I know, it's extraordinary. It's quite clear that the gullible public are here in droves and have no idea of the risks they are taking and are not doing any DD at all, trusting SS to have done it for them and perhaps believing the that the contingency fund will always cover them. It won't. I suppose i am part of that gullible public, as i do tend to rely on what is fed to me, without digging around for myself.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jan 25, 2017 20:18:23 GMT
I know, it's extraordinary. It's quite clear that the gullible public are here in droves and have no idea of the risks they are taking and are not doing any DD at all, trusting SS to have done it for them and perhaps believing the that the contingency fund will always cover them. It won't. I suppose i am part of that gullible public, as i do tend to rely on what is fed to me, without digging around for myself. I suggest ratesetter 
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Post by harryvederci on Mar 8, 2017 14:37:25 GMT
the related tenant company has just filed accounts, in light of which does anyone believe they have been paying the contracted rent - no surprise then 'interest accruing'
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dovap
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Post by dovap on Mar 8, 2017 15:16:37 GMT
Of course they are - how could you doubt these highly successful fiddlers financiers ?
Just hope this scepticism doesn't spread to the news that 'interested parties are considering offers' for these luxurious and reasonably priced offices.
Be no time at all before the flying pig farm and this one are off the books
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Yintara
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Post by Yintara on Mar 8, 2017 17:58:21 GMT
Just a point of interest, I wonder if the building is held in a pension scheme by the actual owners? I'm not sure how or if this would affect matters for lenders but it would explain a few things about the setup. The tenant company pays as high a rent as they can get away with to the 'landlord', which is essentially the real owner's pension scheme. This lowers the tenant company's profits on paper, and therefore their corporation tax. Meanwhile, the rent goes into the pension where it's sheltered from tax and gets a top-up. Essentially, the same owners pay into their pension instead of giving it to the government.
My financial adviser recommended that my company does something similar, if we could ever find suitable premises for sale locally. We were told that HMRC get interested if you try and pay yourselves more than the going rent rate, although it sounds like our friends have pushed the ceiling limit on that one (and have been doing so for several years). Of course, any new and unrelated tenants would be negotiating the rent down, not up, and there's no chance of getting the same rent amount, but I'm sure SS already know that...
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2017 18:07:19 GMT
If the SS appoint administrators (or receivers?) then they could take control of the security (and the rent it pays out).
The problem is they haven't, and I can;t understand why they haven't. SS was willing to do it with the farm, so why not the Office Block?
My gut feeling is this is going to drag on, and seeing that this borrower has a history mucking around lenders in the past (and one case where he was able to avoid a PG with a bank) I don't see a happy ending I'm afraid.
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r1200gs
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Post by r1200gs on Mar 9, 2017 9:38:39 GMT
If the SS appoint administrators (or receivers?) then they could take control of the security (and the rent it pays out). The problem is they haven't, and I can;t understand why they haven't. SS was willing to do it with the farm, so why not the Office Block? My gut feeling is this is going to drag on, and seeing that this borrower has a history mucking around lenders in the past (and one case where he was able to avoid a PG with a bank) I don't see a happy ending I'm afraid. I second that with knobs on.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 17, 2017 15:02:09 GMT
Update...
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Post by harryvederci on Mar 17, 2017 16:06:27 GMT
theres also a firm of surveyors trading from the same address a***n r***l p******y c*********s no mention has ever been made of how they occupy lease/rent?
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oldgrumpy
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Post by oldgrumpy on Mar 17, 2017 16:28:34 GMT
theres also a firm of surveyors trading from the same address a***n r***l p******y c*********s no mention has ever been made of how they occupy lease/rent? Yeah - look at the current director's other directorships and see how many companies include the name of a certain D**mond P. at some time in the past. All part of the same intricate web, no doubt. (I wonder if they've got a new solicitor yet) What was it that SS told us last year? It doesn't matter what a borrower's record is, it's the security that matters? The directors of SS think that kind of b*****it is appropriate and satisfactory for mere lenders. I wonder if they actually believe it now, what with a number of suspect characters that SS did inept DD on refusing to repay, and being bl**dy "awkward" or even plain obstructive when it comes to claiming the security. Luckily, quite a lot of us see through it (usually) and do not invest. However, it is SS's reputation which is on show for everyone to see .... bit by bit ... I think I need a cup of tea. 
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dovap
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Post by dovap on Mar 17, 2017 17:23:54 GMT
all these changes of tack are most confusing.
the non-payment of the highly generous rent the borrower 'paid' to himself is being pursued personally - mmm most perplexing
still good news on a re-gearing to the contractors which adds value and a lump sum ??
and that there's yet more interest in this pricey property.
defo be off the books soon and not defaulted
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 31, 2017 20:31:46 GMT
"Appointment Of Receiver" has been registered at CH (although, they were actually appointed on 31 October 2016). Credit to harryvederci for finding |
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r1200gs
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Post by r1200gs on Apr 1, 2017 10:05:21 GMT
theres also a firm of surveyors trading from the same address a***n r***l p******y c*********s no mention has ever been made of how they occupy lease/rent? Yeah - look at the current director's other directorships and see how many companies include the name of a certain D**mond P. at some time in the past. All part of the same intricate web, no doubt. (I wonder if they've got a new solicitor yet) What was it that SS told us last year? It doesn't matter what a borrower's record is, it's the security that matters? The directors of SS think that kind of b*****it is appropriate and satisfactory for mere lenders. I wonder if they actually believe it now, what with a number of suspect characters that SS did inept DD on refusing to repay, and being bl**dy "awkward" or even plain obstructive when it comes to claiming the security. Luckily, quite a lot of us see through it (usually) and do not invest. However, it is SS's reputation which is on show for everyone to see .... bit by bit ... I think I need a cup of tea. I think I once mentioned my experience of the eBay discussion boards where you would frequently got people coming along and asking if there was a safe way to conclude the purchase of a half price UK car that the seller desperately needed to sell because he couldn't register it in Spain. He would of course also give you seven days to inspect it and would take it back at his own expense if you didn't like it. You would tell them they are dealing with a scammer, and STILL they would look for a way to complete the purchase. The answer is that if you do find a safe way to do a deal with a life long crook, you just got robbed. Just a general point, not related to any particular loan or borrower of course.
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