Jump to content
House Price Crash Forum


New Members
  • Content Count

  • Joined

  • Last visited

About bewildered1

  • Rank
    HPC Newbie
  1. Thanks BelfastVI for the detail, its all a bit hard to get my head around
  2. Hi, Thanks for the insight, some good reading. I didn't know about the netting off idea, would it really be much more difficult to collect surpluses through the courts than internally through NAMA? I would say the original sin seems to be the LAV values to begin with. The fact that assets can't be sold for LAV shows that the government is in a sense the same as a buy to letter who bought a house on a whim and now finds themselves in negative equity. We are all being drawn into it as they were bought on our behalf, with our money, without our asking. Are there any examples of assets being
  3. Sorry! 1984 machine, long time since I last read the book!
  4. Hi PJ, Thanks for all the info you contribute to the forum. I'm just wondering your opinion on NAMA as you seem to have a pro NAMA stance and I cannot understand the benefit this 1981 machine has had on our economy and society. For sure where banks found that borrowers could not pay loans they should not and could not have had a day 1 sell off as the market would have been swamped. But over the past 3.5 years (3.5 YEARS!) there should have been an aggressive sell off by the banks and repossessions of borrowers assets to recoup moneys owed. This hasn't happened? The reason why baffles me
  5. Morning, Just saw that the interest being paid by a developer with b/f loans of almost £2m has dropped from 2.3% to 1.5%. Developer has a relatively good rental income. This seems a bit favourable? I know others paying higher. Anyone know examples of rates currently being charged on new borrowings?
  6. Owners have had three years to try to get books in order and find alternative capital. Funny he should say its wrong they took over hotel at start of summer. Like saying of two hungry children one was wrong to eat the apple. It is likely no one will lose their jobs and the only ones under any pressure are those who decided to borrow £48m on the understanding they can only make money, and throw and tantrum when they don't.
  7. firesale by nama has little or no impact to the man on the street, provides those who work and have saved their money with opportunities to buy. any businesses which go under will be sold off and new jobs created on secure footing, it's normal churn. just look at how Iceland is recovering. only reason politicians getting involved is the 'regal' class in ni, those who have for some perverse reason been given an air of being beyond reproach will be forced to bend knee. politicians should put themselves beneath their common voters, not act to maintain a class held separate for too long.
  8. Thanks for reply. Re Pattons just wondering if any of the money in: James F Mccue Limited with 3.7m assets Wilplas Upvc Limited with 900k assets Bridge Park Developments Limited with 50% of 4.3m be drawn on to pay the banks/creditors?
  9. Yes but wheres the transparency surrounding arrangements both for the public, as stakeholder and as taxpayer, and for related parties to the developer such as small creditors. We already had legal avenues through IVA/Bankruptcy which people are supposed to follow if they can't pay. Being a developer is not rocket science there are many people who could step in and do the work, younger and more ethically minded. General opinion is still that the big players are 'getting away with it'. Nama is such a closed shop they could be acting for Russian interests for all we know. Also how did such s
  10. So with the effect of compound interest/possible write off, they could be in effect getting away with saving millions in interest on their loan. Hidden for Mr Joe Public's eye in the accounts. Whats the point in paying.
  11. Hi PJ1977, thanks. I'd say that is a 'large' landbank to be dragging around? 9m p/a, that 3.2%, pretty low return for the risk involved to us lenders? I'm sure a reasonably conservative valuer could knock 20% off that, thats 56m. With public accounts now being made available, the amount of companies found in net liabilities is shocking. Or showing accounts to 2008 and then they disappear.
  12. Ah well least she had balls. Need someone to say enough is enough and let the tide go out. Its going to happen the sooner the better. Could all be over in 3 years if someone took initiative.
  13. Just checked Killultagh Estates Limited on duedil, 248m assets, 246m loans in 2010? How this situation developed beggars belief. If I owned one of these banks I'd be furious at how they behaved with lending practices. Oh wait I own Ulster Bank? Whats the other one I saw O'Kane and Devine, 288m assets 287m loans in 2010? How many more of these are still to hit the fan? Tell me there's a Magaret Thatcher in some of these banks to clear out the shaft and get back to basic business practices. Just bring it over the next few years and then we can go back to being our wee corner of the world.
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.