bugs4me
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Post by bugs4me on Apr 12, 2015 9:00:06 GMT
If FS can't achieve full recovery with a 40% LTV loan, what hope is there for recovery from a 57% LTV loan? Only goes to prove (hopefully not) the old adage that something's only worth what someone will actually pay for it. Valuations on high value items that have a small market must have a very high uncertainty factor. If the right person is in the auction room... Or even better two people that want the item... Agree with your sentiments especially if the LTV is 70%ish but in this case it's (supposedly) 40% and I would have thought at that level of LTV you should easily be able to dispose without even needing to see an auction room.
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mikes1531
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Post by mikes1531 on Apr 15, 2015 20:33:36 GMT
I haven't seen any sign of an update today. Has anyone else?
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Post by mrclondon on Apr 16, 2015 12:42:26 GMT
Latest update is that the loan has fully repaid, and we are now waiting for the funds to clear.
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mikes1531
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Post by mikes1531 on Apr 16, 2015 19:33:33 GMT
I haven't seen any sign of an update today. Has anyone else? Latest update is that the loan has fully repaid, and we are now waiting for the funds to clear. And while we're waiting for our money -- which, if the microsculptures loan is an indication, is earning nothing for us right now -- I note that the comic book has been added to the list of upcoming loans, for £80k at 12%. So it would appear that either the borrower actually paid £50k to FS with the intention of taking it back in a few days time, plus another £30k, or FS are going to use their own resources to pay us back so that they don't have to pay us interest while the loan is being rolled over. Perhaps fundingsecure would care to explain exactly what's happening here?
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Post by fundingsecure on Apr 17, 2015 8:15:22 GMT
Mikes
Borrower has fully repaid existing loan - once funds clear they will be distributed.
They have also indicated that they may need another loan. At their request we are therefore holding the asset, awaiting their decision.
The "loan coming soon" has been prepared in case they decide to go ahead. If they decide against it - the asset will be returned to them and the "loan coming soon" removed.
FundingSecure
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mikes1531
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Post by mikes1531 on Apr 17, 2015 12:34:21 GMT
Borrower has fully repaid existing loan - once funds clear they will be distributed. They have also indicated that they may need another loan. At their request we are therefore holding the asset, awaiting their decision. The "loan coming soon" has been prepared in case they decide to go ahead. If they decide against it - the asset will be returned to them and the "loan coming soon" removed. : Thanks for the explanation. It does surprise me, though, that a payment of this size wouldn't have been made by a method that provides cleared funds upon receipt, such as FP or CHAPS.
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Jaydee
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Post by Jaydee on Apr 18, 2015 9:21:10 GMT
Borrower has fully repaid existing loan - once funds clear they will be distributed. They have also indicated that they may need another loan. At their request we are therefore holding the asset, awaiting their decision. The "loan coming soon" has been prepared in case they decide to go ahead. If they decide against it - the asset will be returned to them and the "loan coming soon" removed. : Thanks for the explanation. It does surprise me, though, that a payment of this size wouldn't have been made by a method that provides cleared funds upon receipt, such as FP or CHAPS. Money now in our accounts
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baldpate
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Post by baldpate on Apr 22, 2015 14:36:47 GMT
Superman appears to have flown off
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