merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
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Post by merlin on May 28, 2017 16:24:50 GMT
"Loan Updates
20 mins ago
Initial funds will be with us during the coming week - with the balance expected by end June."Sounds encouraging, but won't be counting my chickens just yet. I've come to the conclusion based on a couple of years of passed experience, that in "Funding Stream speak" next week has a similar meaning to Manama in Spanish. Down here in West Wales we have a similar expression known as the "Pembrokeshire Promise". I can only conjecture that the FS statement, "with the balance expected by end June" probably implies infinity.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 28, 2017 16:41:35 GMT
"Loan Updates
20 mins ago
Initial funds will be with us during the coming week - with the balance expected by end June."Sounds encouraging, but won't be counting my chickens just yet. I've come to the conclusion based on a couple of years of passed experience, that in "Funding Stream speak" next week has a similar meaning to Manama in Spanish. Down here in West Wales we have a similar expression known as the "Pembrokeshire Promise". I can only conjecture that the FS statement, "with the balance expected by end June" probably implies infinity. Does that mean you are based in Carmarthenshire?  I wonder, when the spin-person (Paul or Paula?) at FS invents writes these updates, does he/she look back over the months and see how many times repayment has been advised in similar fashion, followed by repeated failure to materialize? 
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r00lish67
Member of DD Central
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Post by r00lish67 on May 28, 2017 17:13:22 GMT
"Loan Updates
20 mins ago
Initial funds will be with us during the coming week - with the balance expected by end June."Sounds encouraging, but won't be counting my chickens just yet. I've come to the conclusion based on a couple of years of passed experience, that in "Funding Stream speak" next week has a similar meaning to Manama in Spanish. Down here in West Wales we have a similar expression known as the "Pembrokeshire Promise". I can only conjecture that the FS statement, "with the balance expected by end June" probably implies infinity. I agree, which makes the update today on one of their varied and many Northern Irish properties even more concerning: "they have confirmed that new valuations have been carried out for the lender and expect to have funds available shortly - although no firm date..." ."Shortly", "No firm date" My god, it's far worse than I possibly imagined 
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 28, 2017 17:39:43 GMT
I've come to the conclusion based on a couple of years of passed experience, that in "Funding Stream speak" next week has a similar meaning to Manama in Spanish. Down here in West Wales we have a similar expression known as the "Pembrokeshire Promise". I can only conjecture that the FS statement, "with the balance expected by end June" probably implies infinity. I agree, which makes the update today on one of their varied and many Northern Irish properties even more concerning: "they have confirmed that new valuations have been carried out for the lender and expect to have funds available shortly - although no firm date..." ."Shortly", "No firm date" My god, it's far worse than I possibly imagined FS are developing (have developed?) a Reputation. I leave it to Contributors on here to decide what kind of?
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on May 28, 2017 22:02:04 GMT
I've come to the conclusion based on a couple of years of passed experience, that in "Funding Stream speak" next week has a similar meaning to Manama in Spanish. Down here in West Wales we have a similar expression known as the "Pembrokeshire Promise". I can only conjecture that the FS statement, "with the balance expected by end June" probably implies infinity. Does that mean you are based in Carmarthenshire? I wonder, when the spin-person (Paul or Paula?) at FS invents writes these updates, does he/she look back over the months and see how many times repayment has been advised in similar fashion, followed by repeated failure to materialize? Yes OG Carmarthenshire is currently home. Thus the Pembrokeshire rather than the Carmarthenshire promise which of course never ever happens. Building on OG's comment above about the quality of the responses from Paul or Paula. I had hoped with this persons appointment that the communications from FS would have improved considerably over what had been the previous standard, which to say the least, was at best erratic or in some cases just plain b*llsh*t. But I fear nothing has really changed.
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Post by bracknellboy on Jun 3, 2017 7:51:46 GMT
Can I ask a dumb question. My understanding of the commentary from FS is that this is ONLY sufficient funds to RENEW the loan. That means past interest owing and future interest for an extension. It does not mean capital repayment/loan redemption. Therefore we still only have an 'out' if their are others who wish to participate in a loan renewal.
Have I got this correct or is something else going on ?
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spyrogyra
Member of DD Central
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Post by spyrogyra on Jun 3, 2017 9:27:01 GMT
Most likely it's interest owed only.Unlike Lendy, FS do not collect interest upfront or for extension periods - thus pushing up the overall LTV. At least that's what we are told.
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rs
Member of DD Central
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Post by rs on Jun 3, 2017 10:31:23 GMT
Most likely it's interest owed only.Unlike Lendy, FS do not collect interest upfront or for extension periods - thus pushing up the overall LTV. At least that's what we are told. Do nice yachts devalue over time?
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,441
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Post by stub8535 on Jun 3, 2017 10:45:59 GMT
rs check bsck to may19th post for an answer.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Jun 9, 2017 13:56:45 GMT
Yet another blank week and I guess some time soon another fairy tale!
Saturday 10th June Update: A further fairy story today. I am beginning to wonder how long it will be before "M" begins these updates with "Are you sitting comfortably children? Then I will begin." Many of the younger members wont understand this but I am sure OG will!
Thursday 15th June: I guess they have the fairies working overtime to give us a further update on the considerable progress made this week!
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Jun 19, 2017 8:16:45 GMT
The fairies have come up trumps again with a slightly different story but us investors remain dangling in thin air with little chance of repayment soon.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Jun 20, 2017 11:16:17 GMT
I am sure that many folk involved in this loan will be delighted to know that the boat we invested in is still racing and will take part in the Cowes-Torquay-Cowes race next month. FS have informed me that the boat is still fully insured. Just have to hope it wins and it's value increases accordingly!
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Post by bracknellboy on Jun 20, 2017 12:19:11 GMT
Assuming that the insurance cover is made out to FS (or FS 'lending syndicate), then my hope would be that it has a god almighty accident resulting in a complete right off but a miraculous escape from injury for all occupants.
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SteveT
Member of DD Central
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Post by SteveT on Jun 20, 2017 12:51:20 GMT
Assuming that the insurance cover is made out to FS (or FS 'lending syndicate), then my hope would be that it has a god almighty accident resulting in a complete right off but a miraculous escape from injury for all occupants. Again!
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Post by bracknellboy on Jun 20, 2017 13:13:55 GMT
quite.
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