Forward
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Post by Forward on Oct 1, 2016 2:26:22 GMT
Loan Updates
30/09/2016
We have not heard from the purchaser's solicitor on this deal.
23/09/2016
This property is in the process of being sold. The buyer will take on the debt on the same terms. Once contracts have been exchanged, we will place the loan up for renewal. Interest will be settled on completion. We expect contracts to be exchanged in the next few days.
The latest update sounds ominous, is it a possible default hint…
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duck
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Post by duck on Oct 1, 2016 4:11:44 GMT
Not sure I would read that into the update, sales in this area are always going to be difficult.
Mark is on the Somerset levels, the area that experienced severe flooding just under two years ago. Whilst measures have been taken (dredging) that area is still very 'problematical' so I wonder if this might be contributing.
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Forward
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Post by Forward on Oct 1, 2016 10:04:56 GMT
Not sure I would read that into the update, sales in this area are always going to be difficult. Mark is on the Somerset levels, the area that experienced severe flooding just under two years ago. Whilst measures have been taken (dredging) that area is still very 'problematical' so I wonder if this might be contributing. Cheers for the info, just checked Environment Agency web site, if the information is up-to-date and correct Mark and the surrounding area, classed very high risk I’ll add “Flood Map for Planning” to my DD list
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Forward
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Posts: 127
Likes: 59
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Post by Forward on Oct 8, 2016 9:46:54 GMT
Loan Updates 30/09/2016
We have not heard from the purchaser's solicitor on this deal.23/09/2016 This property is in the process of being sold. The buyer will take on the debt on the same terms. Once contracts have been exchanged, we will place the loan up for renewal. Interest will be settled on completion. We expect contracts to be exchanged in the next few days. The latest update sounds ominous, is it a possible default hint…
We have still not heard from the purchasers' solicitor. We have given them a further 7 days at which point we will default the loan
30/09/2016 We have not heard from the purchaser's solicitor on this deal. 23/09/2016 This property is in the process of being sold. The buyer will take on the debt on the same terms. Once contracts have been exchanged, we will place the loan up for renewal. Interest will be settled on completion. We expect contracts to be exchanged in the next few days. The latest update sounds ominous, is it a possible default hint
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Post by ravado on Oct 17, 2016 11:42:05 GMT
Default has just been confirmed. I'm certainly not taking up any more FS property loans in the near future, based on the current defaults record!  |
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Liz
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Post by Liz on Oct 17, 2016 13:09:14 GMT
Default has just been confirmed. I'm certainly not taking up any more FS property loans in the near future, based on the current defaults record! You best hope it doesn't flood this autumn/winter!
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mikes1531
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Post by mikes1531 on Oct 17, 2016 13:17:44 GMT
You best hope it doesn't flood this autumn/winter! Perhaps fundingsecure ought to ask the receivers to take out a flood insurance policy ASAP.
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Post by ravado on Oct 17, 2016 15:55:58 GMT
Yes I failed to link Mark, in my head, with significant 'flood risk' Buyer (Lender) beware!
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