Post by GSV3MIaC on Feb 25, 2015 11:36:17 GMT
Presumably by selling a/the property in question.
FC really need to get a handle on these property loans, such that the term can be extended at some pre-arranged interest rate, rather than having to raise a whole new loan when the original one looks like it won't be able to be repaid ON TIME. (Obviously if it looks like it won't be repaid AT ALL, that is different). (See AC for examples).
Property development is a bit like engineering, with the same basic rules (i.e. 1) You can never allow for the unforeseen, therefore 2) It takes longer, and 3) It costs more). Fixed length loans are just asking for trouble, unless you allow way too much slack and then pay them back early.
update:
The refinance loan is already up on the site:
Refinance Of London Property Loan Refinance of existing loan (11124)
which will explain what is going on (it appears that the 'unforeseen' in this case is largely self inflicted, and could be attributed to specification creep &/or greed).
FC really need to get a handle on these property loans, such that the term can be extended at some pre-arranged interest rate, rather than having to raise a whole new loan when the original one looks like it won't be able to be repaid ON TIME. (Obviously if it looks like it won't be repaid AT ALL, that is different). (See AC for examples).
Property development is a bit like engineering, with the same basic rules (i.e. 1) You can never allow for the unforeseen, therefore 2) It takes longer, and 3) It costs more). Fixed length loans are just asking for trouble, unless you allow way too much slack and then pay them back early.
update:
The refinance loan is already up on the site:
Refinance Of London Property Loan Refinance of existing loan (11124)
which will explain what is going on (it appears that the 'unforeseen' in this case is largely self inflicted, and could be attributed to specification creep &/or greed).
