mikes1531
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Post by mikes1531 on Apr 8, 2016 8:41:24 GMT
I also think there's a problem with the loan ref stated in the email ( 2930007099), as that seems to belong to a Range Rover loan. Thank you for your message. There will be no investment limit on this loan. And, yes, we had the wrong reference number on this loan! It should have been 2930007099. Ummm...
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baldpate
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Post by baldpate on Apr 8, 2016 9:33:49 GMT
And now, for your further entertainment, the renewal offer appears to be listed TWICE in the "Investment Opportunities Coming Soon" section.
Duuuhhhh!
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jamesc
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Post by jamesc on Apr 8, 2016 10:17:52 GMT
I looked at this loan and thought it looked ok 13% lowish LTV and different Asset class then I saw this thread and had my doubts. Can anyone please confirm what had been the problems in the past and why there was doubt over whether the loan would repay ? Thanks
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Apr 8, 2016 10:51:06 GMT
I looked at this loan and thought it looked ok 13% lowish LTV and different Asset class then I saw this thread and had my doubts. Can anyone please confirm what had been the problems in the past and why there was doubt over whether the loan would repay ? Thanks It was a 6 month loan which was due to repay on Feb 16th. The borrower had the option to pay the interest due and rollover the loan for another 6 months. It took them about 8 weeks to find the money to pay the interest. I'm not aware of any other issues and increased my bid.
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Post by mrclondon on Apr 8, 2016 10:59:02 GMT
Last night I redacted the title of this thread slightly when I was made aware that the three words of the thread title followed by .com was the url for the project. That website is probably worthy of more than a cursory glance as part of due diligence on this loan.
I'm currently undecided on whether to go back in, having sold my original stake on the SM in December.
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Post by Deleted on Apr 8, 2016 11:15:17 GMT
my opinions are documented within these threads, not for me
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alison
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Sanctuary!!
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Post by alison on Apr 8, 2016 11:19:01 GMT
Last night I redacted the title of this thread slightly when I was made aware that the three words of the thread title followed by .com was the url for the project. That website is probably worthy of more than a cursory glance as part of due diligence on this loan.
I'm currently undecided on whether to go back in, having sold my original stake on the SM in December. An interesting line from the site.......... "Installation of operational swivel guns."
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mikes1531
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Post by mikes1531 on Apr 11, 2016 16:34:00 GMT
Unfortunately, the website clearly is way out of date, indicating that the ship "will start its final stage of restoration in the near future" and "is intended to be completed by the Summer of 2013".
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alison
Member of DD Central
Sanctuary!!
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Post by alison on Apr 11, 2016 16:46:08 GMT
Unfortunately, the website clearly is way out of date, indicating that the ship "will start its final stage of restoration in the near future" and "is intended to be completed by the Summer of 2013". True but hopefully the guns were put in early!
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vmail
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Post by vmail on May 7, 2017 19:00:57 GMT
Is there any plans to renew this loan?
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bfish
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Post by bfish on Mar 17, 2018 13:24:36 GMT
Is there any plans to renew this loan? It seems nearly a year later, we are asking the same question !? In the absence of ANY updates from 'the FS directors' the following might be of interest . . . received today from a reputable sales company, (found on Google) :- 'Yes, she still is for sale. E**** is 80% through her refurbishment. The main features still to be completed by the purchaser are the rigging, sails and interior finishing. The current owner was going to put a new motor in her but has said that the old motor can be fitted back in. E**** is 1 of 5 sister boats originally constructed together in 1995. They were all made of soft wood and E**** is the only boat that has been refitted entirely with hard wood for longevity of the vessel and has been hand crafted by master boat builders. At this stage we are taking offers on her as she is still to be completed.' Hey ho !!
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Post by Deleted on Mar 17, 2018 14:10:22 GMT
E**** is 1 of 5 sister boats originally constructed together in 1995. They were all made of soft wood and E**** is the only boat that has been refitted entirely with hard wood for longevity of the vessel and has been hand crafted by master boat builders. wonderful to read this on a snowy weekend in Yorkshire and be glad I'm not involved. In the UK there are "Master Builders" (for houses) in the USA there is a marketing thing called "Master Boat Builders" which is used to sell boat yards to the ignorant In the UK we have a pub called "The master builder's" which used to be very nice and now has been homoginised to meaningless with a nice view of the Beaulieu river the concept does not exist in the UK and is just a way of saying "craftsmen" built which is fine, and I certainly hope anyone changing the hull of a boat was trained. All there is left to do is the rigging, sails and interior...... now call me oldfashioned but if you change the outside and the inside and the rigging what exactly is left........
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oldgrumpy
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Post by oldgrumpy on Mar 17, 2018 14:23:34 GMT
All there is left to do is the rigging, sails and interior...... now call me oldfashioned but if you change the outside and the inside and the rigging what exactly is left........
We're back with Trigger's broom.
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adrian77
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Post by adrian77 on Mar 17, 2018 15:23:21 GMT
There is was a company called E**** M**** B***** LIMITED
That was subjected to a compulsory strike-off 20-09-16
The fact they went bust is not a good sign although I don't think this is relevant as I it looks to me she had the charge after she was sold on.
Current owners seem to be a very small investment company?
I name this ship E M Barbarasky - God Bless all the FS people who invested in her!
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bfish
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Post by bfish on Mar 20, 2018 15:12:15 GMT
Is there any plans to renew this loan? After my last note about the 'new consortium' of owners who wish to sell on after just a few months, I am pleased(sic) to see an update . . . as follows:- 'The borrower has been travelling for the last 3 weeks and has been unavailable. We understand that, structurally, the boat is almost complete and that they are now trying to sell the boat. We are trying to reach the borrower to gather more details about progress, sales propects, and the status of the interest previously expressed by the maritime and educational institutions.' I wonder if anyone near Cardiff could look in at the long-defunct 'World of Boats' and assess the state of play ? It would certainly be much appreciated.
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