jcm9000
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Post by jcm9000 on Jun 7, 2019 7:47:16 GMT
If only....I'm thinking the property has grown legs and ran away with the other disasters. My loan book is so poor now I can't figure out what is dead and done yet still sitting there, or just pie in the sky updates giving me some hope that I might get back enough for a can of irn bru.
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micky
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Post by micky on Jun 11, 2019 16:51:29 GMT
At last an update. It could be good news but ...
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james21
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Post by james21 on Jun 11, 2019 18:28:31 GMT
lets see if the shortfall is made up from the PG, answers on the back of a £5 note please
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micky
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Post by micky on Jun 11, 2019 21:07:06 GMT
This seems an odd situation as the borrower/company has another loan with F.S.
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coop
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Post by coop on Jun 12, 2019 8:37:26 GMT
Looking like no interest and a haircut of as yet indeterminate size - if they dropped the asking to 450k what would they have accepted an offer at? Probably lower than the £484k loan value before legal and receivers fees.
Cripes! Another fanciful valuation. Feel bad for people who invested in a property valued at £720k which had interest from a property developer for an immediate sale. Two and a half years later...
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jcm9000
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Post by jcm9000 on Jul 2, 2019 7:43:12 GMT
Completion set for July 5th.... 894 days later the end is in sight! Maybe.
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coop
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Post by coop on Jul 2, 2019 9:03:31 GMT
Completion set for July 5th.... 894 days later the end is in sight! Maybe. wouldn't be totally surprised if it stayed off the lost capital figure a few months longer whilst they "pursue additional avenues of recovering the remainder of the loan amount" or something.
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micky
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Post by micky on Jul 3, 2019 18:21:51 GMT
I believe that the same borrowers are refinancing a much larger development away from FS so may be the short fall is involved with it and of course we also have the PG.
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Post by df on Jul 3, 2019 18:59:45 GMT
Completion set for July 5th.... 894 days later the end is in sight! Maybe. wouldn't be totally surprised if it stayed off the lost capital figure a few months longer whilst they "pursue additional avenues of recovering the remainder of the loan amount" or something. Pursuing PG normally takes much longer than a few months and success rate of these recoveries is low. It's unclear from the updates at what price the security is to be sold, but I guess after fees we'll face some capital loss.
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micky
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Post by micky on Jul 5, 2019 14:41:43 GMT
No news yet. Is it going to happen? Then the fun begins
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james21
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Post by james21 on Jul 5, 2019 16:13:19 GMT
I believe that the same borrowers are refinancing a much larger development away from FS so may be the short fall is involved with it and of course we also have the PG. Cant say I have seen reference to same borrower other loan with FS can you say which loan it is? I am in this one
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adrian77
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Post by adrian77 on Jul 5, 2019 18:05:04 GMT
According to the auction site the plot sold - I guess may just scrape a 100% capital recovery but I sure can't see 13% interest over 30 months...
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Post by df on Jul 5, 2019 18:20:31 GMT
According to the auction site the plot sold - I guess may just scrape a 100% capital recovery but I sure can't see 13% interest over 30 months... Your guess is more optimistic than mine Whatever it is, when the funds are distributed we'll know where we stand.
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micky
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Post by micky on Jul 6, 2019 9:21:35 GMT
I've seen STC on Rightmove. would some one please send me a link to the Auction site sale.
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micky
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Post by micky on Jul 6, 2019 15:03:29 GMT
If the auction was a recent one then we still have quite a wait of any funds. Anyone able to add a date?
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