Acornworm
Member
- Location
- the edge of sanity
Perhaps the locals might enlighten us
Let's see how substantive these statements are or are they the usual bluster while looking for an escape route, which isn't in reality there, especially when other funders are straining at the leash trying to get their money which he acknowledges he can't pay.Well,the Saving Stream investors must be breathing a sigh of relief
PBL056 - Walrow Farm, Somerset - Refinance with Barclays still underway. Borrower advised next week hopefully, depending on the lenders legals.
PBL064 - Tenanted Office Block, Somerset - We have regular contact with the borrower, he is going to sell the property in order to repay our loan. He is a finance broker so has good lender contacts if repayment is needed through refinance as well.
If there is any shortfall in the potential sales price to valuation, the Funders could always sue the Valuers, is that not their game plan? There again her ladyship always claimed they could "fix a valuation" so it could well be a case of "hoisted by their own petard", now that would be Karma!I wonder how the sale price of Acorn House might reflect on Cooper and Tanners valuation,presumably a very good investment with Agri-funding paying such a generous rent
Well,the Saving Stream investors must be breathing a sigh of relief
PBL056 - Walrow Farm, Somerset - Refinance with Barclays still underway. Borrower advised next week hopefully, depending on the lenders legals.
PBL064 - Tenanted Office Block, Somerset - We have regular contact with the borrower, he is going to sell the property in order to repay our loan. He is a finance broker so has good lender contacts if repayment is needed through refinance as well.
Someone else shafted by Des then to add to the list. Those pigs need to be flying off Waitrose shelves to save his bacon.If I remember correctly,wasn't this the valuation where the valuer rather cleverly put a disclaimer on the information put forward by Mr Desmond Phillips.Unfortunately the investors could be the ones losing out,unless of course Walrow Farm need somewhere to relocate those pigs and are prepared to guarantee another eye watering rent.
Just sums up everything that is wrong with this country,and I hate the word specialist,is being predatory specialist?Dont forget Barclays are the major investor in the Blemain group (incl Lancashire Mortgage) The solicitor (John Walker) dealing with my case is ex Barclays placed on the Blemain board.
http://www.mortgagesolutions.co.uk/...r-together-receives-100m-barclays-investment/
http://www.equistonepe.com/detail/news-detail?id=121
Now that would be an interesting scenario,not for Lendy perhaps Do they reveal that sole director of Brent Farms Ltd,the highly successful supplier of pork to Waitrose, who secured their borrowing on Walrow Farm,is also director and secretary of Agri-Funding Ltd the company paying the rent(??) on Acorn House.Presume Office block is Acorn House. A large steel framed building with generous car park on a business park,. No residential possibilities. Must put a limit on the value.
In a situation like above surely lender could make tenant pay rent directly to them!
Oh dearPresume Office block is Acorn House. A large steel framed building with generous car park on a business park,. No residential possibilities. Must put a limit on the value.
In a situation like above surely lender could make tenant pay rent directly to them!
Poor innocents' they have yet to properly encounter the slipperiness of the Toad.