fp
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Post by fp on Aug 4, 2017 17:45:13 GMT
Its only 45 days overdue, surely with a valuation of 1.5 million pounds more than the loan amount, it should not be expecting to achieve less than the outstanding loan and overdue interest?
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Monetus
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Post by Monetus on Aug 4, 2017 17:46:32 GMT
Its only 45 days overdue, surely with a valuation of 1.5 million pounds more than the loan amount, it should not be expecting to achieve less than the outstanding loan and overdue interest? The problem is... nobody wants to buy it. It's been marketed for sale for quite some time and will likely require a hefty discount to get it sold.
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mary
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Post by mary on Aug 4, 2017 18:04:15 GMT
Its only 45 days overdue, surely with a valuation of 1.5 million pounds more than the loan amount, it should not be expecting to achieve less than the outstanding loan and overdue interest? The problem is... nobody wants to buy it. It's been marketed for sale for quite some time and will likely require a hefty discount to get it sold. But it was the featured property on the Lendy annual report, surely it's not been over valued?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 4, 2017 18:06:24 GMT
The problem is... nobody wants to buy it. It's been marketed for sale for quite some time and will likely require a hefty discount to get it sold. But it was the featured property on the Lendy annual report, surely it's not been over valued?Yeah, shurely shome mishtake ....................
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Post by mrg on Aug 9, 2017 10:45:00 GMT
Has anyone seen this advertised for sale? All I can see is that whoever is running the wedding business from it has a nice new website and is continuing to take bookings out until August 2018 (optimistic)
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Post by dan1 on Aug 26, 2017 22:37:56 GMT
An update dated 20 Aug on FS for the two connected loans:
"Communication with the borrower who is working on a solution - if verifiable details are not provided we will be forced to appoint receivers."
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mary
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Post by mary on Aug 27, 2017 6:47:55 GMT
An update dated 20 Aug on FS for the two connected loans: "Communication with the borrower who is working on a solution - if verifiable details are not provided we will be forced to appoint receivers." Maybe Lendy should get in first?
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GeorgeT
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Post by GeorgeT on Sept 29, 2017 9:52:51 GMT
Trading suspended on secondary market owing to adverse report on asset's value which represents a change in the risk profile.
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tombraider
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Post by tombraider on Sept 29, 2017 10:19:04 GMT
Is this a new or old terms loan... just to add to my collection of suspended loans on lendy
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oldgrumpy
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Post by oldgrumpy on Sept 29, 2017 10:20:41 GMT
Trading suspended on secondary market owing to adverse report on asset's value which represents a change in the risk profile. Oh dear! Lendy found out they've been unwittingly hoodwinked by spurious valuations again again again. How very professional.
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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 29, 2017 10:35:34 GMT
Is this a new or old terms loan... just to add to my collection of suspended loans on lendy New. Apart from DFL001/2? i believe all of the old T&C loans are in default so havent been on markets for a while
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invester
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Post by invester on Sept 29, 2017 10:39:16 GMT
The castle was up for sale for £2.25m I think, although unclear if that was for all of it or parts.
The only way to get it moved is further discounting. After fees I think we could easily be looking at under 50% capital recovered, an absolute disaster considering the original valuations.
In the current state I think it's ideal for conversion into hotels, the type that De Vere seem to do.
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MarkT
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Post by MarkT on Sept 29, 2017 10:50:33 GMT
Is that flapping noise I hear one of chickens coming home to roost?
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jaswells
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Post by jaswells on Sept 29, 2017 11:00:59 GMT
Not too negative (yet) on this one. By all accounts the full loan amount should be close to recoverable if indeed past evidence relating to this property is to be believed and money has been spent on upgrades. I feel Lendy have been forced to withdraw from secondary market because the original valuation is clearly not a fair reflection of the likely sales figure and they would be in breach of regulation if they continued to trade it.
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fp
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Post by fp on Sept 29, 2017 21:20:37 GMT
A bit of "connected" history with this property if you're handy on CH
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