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Post by dualinvestor on Sept 15, 2016 10:47:18 GMT
In the valuation report, it indicates that all the properties are "Absolute Ownership" which is (I believe) the Scottish equivalent to Freehold. The answer from SS is that "The properties are leasehold. The properties are understood and assumed to be held on the basis of outright ownership of the heritable interest." Do i like the words understood and assumed? Personally I do not like the words understood and assumed, surely if you are taking security over something you should know its legal status and any rights and restrictions appertaining to it? Scottish law is different and sometimes more obscure than English law but in all material respects it has the same certainties and is written in the same language!
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oldgrumpy
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Post by oldgrumpy on Sept 15, 2016 11:14:22 GMT
In the valuation report, it indicates that all the properties are "Absolute Ownership" which is (I believe) the Scottish equivalent to Freehold. The answer from SS is that "The properties are leasehold. The properties are understood and assumed to be held on the basis of outright ownership of the heritable interest." Do i like the words understood and assumed? In other words "we don't actually know, and can't be bothered to find out (and anyway it's too late now)". Not impressed. I have given this one a miss.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 15, 2016 11:50:10 GMT
SS are just quoting the valuation report. Leasehold doesnt really exist in Scotland as far as I can see as nearly all property is held through absolute ownership (abolition of feudal property 2004) so the valuation seems pretty clear it is freehold or absolute ownership
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romy
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Post by romy on Sept 15, 2016 11:54:11 GMT
To reply with "understood and assumed" when the loan is at stage 3 i.e. when they've received the lawyers report on title.......seems to me an odd way to reply
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am
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Post by am on Sept 15, 2016 13:35:42 GMT
Next question. If you didn't get the director's name from the above, how did you find it? (My conclusion was that the UK company with a similar name was unconnected.)
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Post by trentenders on Sept 15, 2016 13:41:56 GMT
It's in the valuation - company name and director name.
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Post by dodgeydave on Sept 15, 2016 14:03:01 GMT
Next question. If you didn't get the director's name from the above, how did you find it? (My conclusion was that the UK company with a similar name was unconnected.) Look at page 3 of the valuation , Banks customer
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Post by GSV3MIaC on Sept 15, 2016 15:17:51 GMT
/mod hat off You have to wonder if it's actually worth investing much time or effort in DD for a loan where you'll be lucky to get £20 in each of the 6 properties .. although looking at the pix in the VR you can see why we're not into the mega£ range here. I guess we don't need to hedge against S-Exit during the loan duration. 8>. From what I can see, it's a single loan against the consolidated properties, not 6 discrete loans. Yes, I was not assuming anything different .. I just said '£20 in each' because it sounded even smaller than '£120 in the package' .. spin doctoring is alive and well. 8>.
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jcb208
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Post by jcb208 on Sept 15, 2016 15:18:04 GMT
Live with £120 allocation,£7440 on the SM picked up by our friend s**********m again  |
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pom
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Post by pom on Sept 15, 2016 15:19:09 GMT
From what I can see, it's a single loan against the consolidated properties, not 6 discrete loans. Yes, I was not assuming anything different .. I just said '£20 in each' because it sounded even smaller than '£120 in the package' .. spin doctoring is alive and well. 8>. Impressive....what lottery numbers should I use?
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Post by GSV3MIaC on Sept 15, 2016 15:23:58 GMT
Only lottery winner long term is the organiser .. but everyone gets luck sometimes. (Especially when you know the answer will be rounded to nearest £10).
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ric
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Post by ric on Sept 15, 2016 15:35:05 GMT
Live with £120 allocation,£7440 on the SM picked up by our friend s**********m again hi guys, i am new here. how is possible this guy bought 7440£ just after the allocation when each investor got 120£?
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lobster
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Post by lobster on Sept 15, 2016 15:41:24 GMT
Live with £120 allocation,£7440 on the SM picked up by our friend s**********m again hi guys, i am new here. how is possible this guy bought 7440£ just after the allocation when each investor got 120£? I assume that after £120 was allocated to each investor , there was a spare £7440 left over which SS dumped on the SM , and s**********m was ready and waiting, and pounced immediately - not for the first time.
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awk
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Post by awk on Sept 15, 2016 15:42:56 GMT
To avoid everyone getting shrapnel, SS round down the the nearest £10 and the residual (in this case £7440) gets put on the market
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lobster
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Post by lobster on Sept 15, 2016 15:46:05 GMT
Live with £120 allocation,£7440 on the SM picked up by our friend s**********m again More likely this should read " ................. £7440 on the SM picked up by our friend s**********m's bot again !"
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