tarq
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Post by tarq on Jan 17, 2017 16:50:15 GMT
Has anyone had any interest/repayment from this loan?
It's supposed to have ended on 10/01/17.
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n
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Yet another Nick
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Post by n on Jan 17, 2017 17:34:35 GMT
Has anyone had any interest/repayment from this loan? It's supposed to have ended on 10/01/17. No. It's update says 'For updates see loan 1223006016'.
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baldpate
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Post by baldpate on Jan 17, 2017 17:37:00 GMT
I don't think you should expect repayment any time soon - this loan series is deeply distressed. As directed in the updates for 1861254173, you should look at the updates in related loan 1223006016 for the full saga - this is the only one of the series where FS are maintaining a commentary on what is happening.
I have a small amount in another loan in this series (3867743062), which I have mentally tagged as "effectively defaulted"
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tarq
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Post by tarq on Jan 17, 2017 18:13:31 GMT
I thought they took 6 months interest upfront, but haven't been paid any.
I see it's for sale, so I suppose if it's sold we should get money back.
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SteveT
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Post by SteveT on Jan 17, 2017 18:16:01 GMT
I thought they took 6 months interest upfront, but haven't been paid any. I see it's for sale, so I suppose if it's sold we should get money back. FS take no interest upfront.
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mikes1531
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Post by mikes1531 on Jan 18, 2017 16:26:20 GMT
I see it's for sale, so I suppose if it's sold we should get money back. Only if it's sold for enough to cover the outstanding debt. And it should go without saying that the sale of a £4+M house can take quite a while.
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stevio
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Post by stevio on Jan 20, 2017 8:52:01 GMT
can you put some detail in the name of this thread (without naming the borrower) - just difficult to know the number off the top of my head
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tarq
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Post by tarq on Jan 20, 2017 10:13:02 GMT
Don't know how to change titles, but it's the Kn***sb****** one
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SteveT
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Post by SteveT on Jan 20, 2017 10:15:17 GMT
Don't know how to change titles, but it's the Kn***sb****** one (Mod hat on) You click "Edit" in your post, but I've added it for you.
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fp
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Post by fp on Jan 20, 2017 11:58:08 GMT
I haven't access to FS right now, but isn't this the one where the wife had some call over the property?
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 20, 2017 12:18:51 GMT
Yes FP. First charge.
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Steerpike
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Post by Steerpike on Jan 20, 2017 12:38:16 GMT
Not according to FS:
"The borrower's ex-wife has a charge over the property. We have received legal opinion to advise that this ranks behind us."
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micky
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Post by micky on Jan 20, 2017 13:00:07 GMT
Also, aren't there two B2L (oops) properties secured against the loan? Under assets.
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Steerpike
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Post by Steerpike on Jan 20, 2017 13:12:30 GMT
Supposedly on the market with F*** * C****** but nothing visible online.
D**** at F****** S***** said that she will arrange for an update to be posted.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 21, 2017 0:20:22 GMT
Also, aren't there two BLT properties secured against the loan? Under assets. Yes. The two properties had 300k + equity in them. I wonder if they were used to buy out the ex's first charge? If they were then lenders here are in a worst situation. If they were not then I do winder why they have not had notices issued to enforce the first charge? It would focus the borrower to order the project manager to cooperate. I am sure that there is more going on in the background that makes action, other than letting the property go to market, the least desirable option.
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