Are Banks willing to lend to the property sector ?

Hi JA, this is only an opinion based on information that is becoming apparent in the past few days for me.  It would appear that many Developers who have existing mortgages on properties that are built are willing to look at off-loading existing debts plus the cost price  to sell the houses. Prices are dropping like stones (yes Tony even in Inland).   The only way I can equate it is by my own business. 50 gowns hanging on a rail.. all paid for.. all owe me the cost price back. if nothing else. if a number of them havent taken an order I have no sentimentality in selling them at the cost price in order to re-stock with different gowns.. purely a cash flow situation for which my ebay shop comes in handy.  From what I have gathered Banks are happier to discuss this as a serious option in the current climate.  The Developer may not get the full profit margin on some properties but they wouldnt become a burden on cash flow either.

I just want my money back from SJ at some stage in the next 5 years to move on with my life like many of us.

Hi Sal,

The existing debt on HdT/SADM is mainly the deposits paid by us the purchasers. The amount of money to come if all of the sales on the books are realised is about 135 million Euros. The credit line needed is £ 30 million Euros. It is a good location, good site,lots of legal foundations in, motorway link being built etc plus HdT has assets ( hard to realise at the moment).

I really do think that the answer is a yes but it  depends on the individual project, its location, appeal and circumstances.

 I WANT MY HOUSE AND A POSITIVE OUTCOME FOR ALL

Tony R 17 18

Hi Tony I think someone must be giving you bad information.I wish what you say was correct , but the figures in the report are very different .It states the figure required to continue and it is way higher than 30 mill just wondering where you are gettting your figures from .I will look at the figures in the report and post them as I remember the figure being way higher .The report does state the asssets but as you say very hard to realise right now and a lot of rural/farming land listed which is not worth much without permission for a change of use which is very hard to get .I cant help thinking you have not had time to study the report it is quite clear where the amounts and figures are concerned  .I will have another look and see if I can see the 30 mill listed anywhere . Megan

Hi Tony Just checked the report  still not sure where your 30Mill  figure comes from .The figures from the report are 11,774103 e the amount required to be paid to the town hall for the Licence to build .lets call that 12 mill .The amount required for the build 135,793954 e lets call that 136 mil.add together  lets call it 148 mill .

Then what is owed  some

HERRADA DEL TOLLO, S.L.

-58-

Masa Pasiva:

Créditos con privilegio especial 7.842.873,54 €

Créditos con privilegio general 138.204,55 €

Créditos ordinarios 69.782.248,78 €

Créditos subordinados 1.871.635,59 €

Total créditos concursales 79.634.962,46€

Créditos contra la masa 1.245.768,43 €

Total Masa Pasiva 80.880.730,

A percentage of the ordinary credits will  be for purchasers who may decide they want to complete. The thing to remember is that the report while  clearly listing the assets also states the figures (to numerous to paste) of assets which have already had mortgages raised on them for loans etc over the last few years   .I wish it was as simple as your 30 mill  Tony but it is quite clearly much worse I am afraid . Megan .

Hi Meg,

Many thanks for your posting the debt is around 80 million, which is primarily our deposits and then in the  ASSEST  section is the figure of the income to come from sales. Also the sum for the final build licence and the parcelisation of land is around 4.5 million . I am basing this on solicitors' summaries of the report. The amount of the line of credit needed is 30 million and has been stated by HdT and is in the July SARC report.

As there is still some confusion as to what the report is saying, we have continued to pursue getting the report translated into English. This has now commenced and it will be made avialbe to SARC members plus posted on the SARC website for all to read.

All the best

Tony R17 18

"line of credit needed is 30 million"
Will someone please enlighten this idiot that the line of credit needed is likely to be only 10% of completion works and dependant upon rolling income.
The chap makes financial, legal and business comments which obviously come from the mind of a nurse and certainly not from experience or knowledge of the sectors mentioned. Complete and utter idiot.
Save many a fortune. Quick whip round to buy him off. Many will be saved.
if anyone was to state nursing procedure, without knowledge or experience, Tiger would be the first to tell us we were wrong, but nurses obviously know all about all.
No wonder the NHS is in such a bloody mess.

FIN

Would you please stop making insulting comments about the NHS, and in particular nurses?  When my mother was terminally ill, I was more than grateful for the professionalism, kindness and caring attitude of the nursing staff.  Maybe they weren't financial experts, but I appreciated their skills.  In similar circumstances, I am sure that even you would do so.

It would be interesting to know what skills, experience, expertise etc YOU have to offer?  Were you in HM Forces, for example?

Sue

 sue

I take your point working for the NHS myself but if these guys are senior managers for the NHS then you can understand why some areas are less than efficient. With the nicest will in the world they talk complete and utter crap

"I was more than grateful for the professionalism, kindness and caring attitude of the nursing staff."
Me too. Perhaps it proves that they are good at what they are trained and qualified to do, so why offer advice on something that they are obviously not.

"but I appreciated their skills"
The Surgeons even more

" In similar circumstances, I am sure that even you would do so."
** EDITED - Offensive language **

"It would be interesting to know what skills, experience, expertise etc "
Would it? It is a pity you hadn't read past threads as you would have realised.

"Were you in HM Forces, for example"
No.

"but if these guys are senior managers for the NHS"
But how senior is senior?
Senior manager overseeing when?
Cleanliness in Hospitals?
Cleanliness on Wards?
Ah, now I see why their property dealings are in such a mess.

Sue and others

Why the under lying dig at  HM Forces? I served 24 years in the Army doing some right crappy jobs for the Government of the day. ie. two ambulance strikes, oil tanker strike, dustmans strike, two firemans strike, four tours of Northern Ireland etc served in some crap holes around the world, never heard any objections from civilians then.  Members of HM Forces have many many talents that are constantly put to use for little reward , acknowledgement or even thanks very much like Nurses, Policeman and many others in the public sector. To have a dig at some ones profession what ever it is, is rude and downright insulting!! 

Dave  Butler Ex RAMC

 having read up on both these guys they are not senior at all. they created a council themselves (which they appointed themselves to the top of)) to try and increase the status of a technologist role in critical care. It is because they are NOT senior that this council exists in the first place.

Tony....you still disgust me and now I know where to find you if you misrepresent owners views anymore

Dave

There is no way that I was having a dig at the forces - anything but - after all I was in the WRNS for 4 years, John served in the Army for over 22 years, my father was in the Fleet Air Arm and my mother was also a Wren, plus my friend's son is currently in the Army.  I mentioned HM Forces to FIN, as he seems to like having a go at the "ole soldier" Twigit, so I was curious as to his reason for doing so.  I thought maybe he was ex-Forces so was offended by Twigit's posts.  Purely female curiosity, and nothing more than that!

The other point I had been making was to stop having a go at nurses and other NHS staff, and that when somebody is hiding behind a pseudonym it is easy to have a dig at people who are being open.  See Joanie666's comments below!

Sue

Hi Dave

I think FIN was talking about previous posts where he had said the guy twigitt was a coward and was a liar and wasnt an ex soldier at all.  If he was having a pop at services and forces then he should be ashemed, but i think it was the former reason.  Maybe fIN will dissapear now that proper names have to be displayed?

It looks like he was pretty much right though, the guy twigitt seems to have been a failed salesman, a former HR type person (personnel) and a bad entrepreneur who is looking to make a fast buck wherever he can    or con.

I think Dave you may be even more upset with somebody who impersonates an ex-serviceman to give people bad advice about how to look after their money........the guy had SARC principles at heart.dont forget that either.

Joanie.

Many of us disagree with a lot of Tony's comments and also feel that he is onto a loser with IWMH as many of us feel that this is not likely to happen but at the end of the day, he is entitled to his opinions, as you and i are. That does not mean that his opinions are always correct, no more than it means your's or my opinions are correct, but we are all entitled to our own opinions and of course other people are entitled to question them and also disagree with them but not in a rude and insulting way, which is also something that Tony has been guilty of from time to time.

When you say:  Tony....you disgust me and now i know where to find you if you misrepresent owners views anymore.

This site is meant for people to discuss their house building project and in our case the SADM mess we are all in, and quite honestly i dont think anyones job; who they work for; and what they do for a living, has anything at all to do with their views on SADM. Why not then bring their family life into the equation; their sex life and anything else that is their private domain as well.

Thats totally wrong in MY opinion. You are quite at liberty now to disagree with what i have said and that would be fine by me, as long as it was not in a  rude and insulting way. I dont neccessarily expect people to agree with my views but conversely i certainly would not expect to be castigated for them.

We have all been guilty at sometime or another of being a bit less than civil, so lets try to get our act together in the future and that includes me and you Tony.

I have deleted the e.mail i received about Tony and SCCT company. I looked at it and read it and quite frankly found it rather boring as were the photos.

Sorry Tony.

                                        Bob.

 Bob

Fully agree with you and I try very hard never to be insulting to anyone. The only reason that Tony is not included in this is that he has KNOWINGLY LIED to people about what is going on. If it was a simple case of him having his opinion that was different to others, then I may disagree with him (as I have done with others) and that would be that

He hasnt though he has willfully deceived others and said things (off his own back) to try and give credence to the crap that SJ spin.

Tony is not sadly misguided he is manipulative and devious

hi

friday saturday sunday and no news fron anyony, don't care about the TWIG waste of space, dont even read the popst anymore.

e-mailed my solicitor 2 weeks ago, and again last week, still no reply.

Maria what is happening

Send them a letter Recardo

Time honoured traditons are the best......................make it registered post. make them sign for it..........

If you want a letter.i have one for you here...............can you translate it?

Brian

Bob

I totally agree with what you have said (Is that a first on this forum?  Somebody agreeing with somebody else? )

Joanie666 - what makes you think that Tony has knowingly lied to us?  It is possible that he has passed on information from San Jose/HdT that he has believed is correct, and which you clearly believe isn't true.  Does that mean he has lied, or is it that he has been deceived?  I really am concerned that accusations are being made about fellow members of the forum.  Where is your proof?

Recardo.  Hope that you hear from your solicitor soon - ours is just as bad.

Sue