stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Aug 24, 2017 2:11:03 GMT
If you are in the loan that is backed by the Munnings plus other paintings you may be interested in the following thread. Starting at post 472 on unbolted board, update new loans.
Fs I do hope you are respinding to e mails to protect your lenders.
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bg
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Post by bg on Aug 24, 2017 6:40:26 GMT
If you are in the loan that is backed by the Munnings plus other paintings you may be interested in the following thread. Starting at post 472 on unbolted board, update new loans. Fs I do hope you are respinding to e mails to protect your lenders. Well let's just hope FS have securely stored this one as they are supposed to. If so it shouldn't really matter.
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Post by peerlessperil on Aug 24, 2017 7:14:31 GMT
Rest assured an email asking FS for chapter & verse has been sent.
But don't let that stop you expressing your own concerns!
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Aug 24, 2017 7:29:30 GMT
If you are in the loan that is backed by the Munnings plus other paintings you may be interested in the following thread. Starting at post 472 on unbolted board, update new loans. Fs I do hope you are respinding to e mails to protect your lenders. Well let's just hope FS have securely stored this one as they are supposed to. If so it shouldn't really matter. With the tight process that unbolted use I would expect them, or their valuer on their behalf, to have the painting in their hands. As an aside, in further reading of the quoted loan on FS, the valuation figure is for 2 seperate loans afaiks. Good luck getting an answer from FS on this issue. I will follow the thread with academic interest.
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bg
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Post by bg on Aug 24, 2017 8:05:59 GMT
Well let's just hope FS have securely stored this one as they are supposed to. If so it shouldn't really matter. With the tight process that unbolted use I would expect them, or their valuer on their behalf, to have the painting in their hands. As an aside, in further reading of the quoted loan on FS, the valuation figure is for 2 seperate loans afaiks. Good luck getting an answer from FS on this issue. I will follow the thread with academic interest. I have just spoken to FS and they confirm that the paintings are in their secure vault. They are aware of the painting being put up for security on another platform.
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Post by lucas01 on Aug 24, 2017 8:49:07 GMT
Unbolted told me their potential borrower definitely had it in their possession, and unbolted were due to take possession for security, as one would expect from them.
Clearly something is amiss. Hence the loan being pulled.
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hendragon
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Post by hendragon on Aug 24, 2017 8:51:35 GMT
I am not in this loan but I would like to look up the details. Can anyone supply a loan number and start date please?
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Post by dan1 on Aug 24, 2017 8:56:16 GMT
I am not in this loan but I would like to look up the details. Can anyone supply a loan number and start date please? 3020915407
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kaya
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Post by kaya on Aug 24, 2017 8:59:13 GMT
3020915407 apparently bg I have just spoken to FS and they confirm that the paintings are in their secure vault.
lucas01 Unbolted told me their potential borrower definitely had it in their possession,
Resolve
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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 Aug 24, 2017 9:05:38 GMT
Forgery or more than 1 copy of same title. Cannot see it being the last one and not an expert in art market.
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Post by lucas01 on Aug 24, 2017 9:06:07 GMT
It's possible unbolted were being misled
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hendragon
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Post by hendragon on Aug 24, 2017 9:06:18 GMT
thanks both
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Post by lucas01 on Aug 24, 2017 9:06:44 GMT
Or indeed a forgery about
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bg
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Post by bg on Aug 24, 2017 9:07:34 GMT
Well it appears that either FS are lying about having the painting in their possession or that the borrower lied to UB when he said he had it in his possession.
I know which of the two possibilities I would wager on. I just hope UB would have waited until they had the painting in their hands before they delivered the funds to the borrower.
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IFISAcava
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Post by IFISAcava on Aug 24, 2017 9:10:38 GMT
Ummed and ahhed for several seconds before selling out of the FS loan this am.
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