spyguy Posted March 27, 2023 Share Posted March 27, 2023 5 minutes ago, Si1 said: That link I posted which has a fair bit of inquisitive sleuthing says the loans are interest free and short term; despite this they've not been paid back on time. Very strange. Interest free ... free. No such thing. Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 27, 2023 Share Posted March 27, 2023 2 minutes ago, spyguy said: Interest free ... free. No such thing. Ok so the interest portion may be in the form of being a forced criminal associate and backed up by large blokes with baseball bats, I grant. Quote Link to comment Share on other sites More sharing options...
spyguy Posted March 27, 2023 Share Posted March 27, 2023 9 minutes ago, Si1 said: That link I posted which has a fair bit of inquisitive sleuthing says the loans are interest free and short term; despite this they've not been paid back on time. Very strange. Thats the surname - I’m sure the three Duffells are brothers because they all carry their father’s name, Michael. And it is an unusual surname. And then they all appear as directors in Lendlock Group Ltd. Which seems to be the Duffell family’s holding company, with group figures for 2021 showing a profit of £4.8m on a turnover of £32.4m Funny one. With that range of addresses Id be saying oirish caravanner. Yep - LENDERS Now I want to look at some of the lenders, and a link that emerged. Out of all the lenders, only one is a name that most of you will recognise, and that’s Barclays Security Trustee Ltd. (You’ll at least recognise the ‘Barclays’ element.) Otherwise the lenders tend to be specialist, obscure, even exotic. Quote Link to comment Share on other sites More sharing options...
Nick Cash Posted March 27, 2023 Share Posted March 27, 2023 2 hours ago, spyguy said: Gav was sweeping across the regional hotel industry Yes I came across this chap when I found he was the person behind a new “luxury hotel” in Snowdonia (just outside Conwy) and also the mystery purchaser of a large house and grounds near us which was being sold by the room on Rightmove. £80k per room with a “guaranteed” 10% return. Bizarrely the Rightmove adverts suggested it was near Bourton-on-the-water in Gloucestershire. About 60 miles away! Clearly dodgy, but not dodgy enough to prevent some local idiots parting with cash. Quote Link to comment Share on other sites More sharing options...
muyuubyou Posted March 27, 2023 Share Posted March 27, 2023 13 hours ago, Hullabaloo82 said: Depends what the repayment terms are. People like this can access different types of financing from you or I. A lot of them may just be a charge on the property when it's sold (within x time frame) as opposed to a monthly payment. My guess is the plan us ramp up the rents, get rid of the tenants, redevelop and sell the property and pay off the bank. Rinse and repeat. what do you mean you or I? if these people have around £60K of equity I'm considerably wealthier than them LOL idk it seems like they're aiming at around 10% return for their investment, which is very very good, but that's if they fill those properties at those rates in the middle of nowhere Quote Link to comment Share on other sites More sharing options...
Hullabaloo82 Posted March 27, 2023 Share Posted March 27, 2023 3 hours ago, Si1 said: That link I posted which has a fair bit of inquisitive sleuthing says the loans are interest free and short term; despite this they've not been paid back on time. Very strange. That link is really, really interesting. Been a while since I've had much to do with these type of accounts so may be a bit rusty but I'm assuming the "filleted" accounts aren't required to disclose related party transactions (may be a wholly owned subsidiary anyway in which case it doesn't have to at all, but there's no disclosures we can see to clarify) but I bet the full accounts make interesting reading. Used, High end motors, money laundering and drug dealers, name a more iconic trio. If I were a cynical man (which I'm not and therefore this comment doesn't in any way constitute an accusation) I'd suggest somebody might be fronting for some dirty money.... hope their accountants are up to date with their AML/KYC training. Quote Link to comment Share on other sites More sharing options...
Hullabaloo82 Posted March 27, 2023 Share Posted March 27, 2023 37 minutes ago, muyuubyou said: what do you mean you or I? if these people have around £60K of equity I'm considerably wealthier than them LOL idk it seems like they're aiming at around 10% return for their investment, which is very very good, but that's if they fill those properties at those rates in the middle of nowhere You're missing the point. That £60k is an accounting quirk, not the real equity level on the portfolio. Quote Link to comment Share on other sites More sharing options...
Homeless Millionaire Posted March 27, 2023 Share Posted March 27, 2023 18 hours ago, Si1 said: He does look a ruffian doesn't he? If you're going to have a man bun you need to look after it too. Quote Link to comment Share on other sites More sharing options...
muyuubyou Posted March 27, 2023 Share Posted March 27, 2023 3 hours ago, Hullabaloo82 said: You're missing the point. That £60k is an accounting quirk, not the real equity level on the portfolio. the question if is they can justify £1M for those properties, if they can't get an average of at least 600 quid a month each, or they'll be actually losing money to even moderate interest on the loan, not even considering expenses and upkeep Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted March 27, 2023 Share Posted March 27, 2023 (edited) just posted this on rental health hpc bbc thread . a piece on bbc news with 40% of right to buy council houses now being rented out as BTL, one house in lewisham visted by previous seller , now with 6 tenants paying £900+ a month , one of which is living in half the space of her old kitchen when will this evil madness end. In my dreams I would like to see some great revolt & clubbing together of folks cash to buy land & build modular building factories, to provide housing away from these parasites. perhaps the diy garden room movement could help, such as ( I have no commercial link to them ) Oakwood Garden Rooms Oakwood Garden Rooms self build group https://www.facebook.com/groups/3043587272414632 https://www.housepricecrash.co.uk/forum/index.php?/topic/248762-bbc-examines-rental-health-with-a-series-of-special-programming-across-radio-4-5-live-and-bbc-news/ What’s Gone Wrong with Our Housing? Panorama On TV service-c067e679a1.svg Today 20:00 'Millions of council houses were built after the war to help protect people from slum landlords. They used to be home to around a third of the UK population. Margaret Thatcher’s flagship right-to-buy policy boosted home ownership, but the council house sell-off is causing major problems 40 years on. Many former council properties are now in the hands of private landlords. In some parts of the country, rents are going through the roof, and slum landlords are back.' Reporter Richard Bilton investigates what’s been happening, by telling the story of one housing estate inLondon. https://www.bbc.co.uk/programmes/m001kk0h Edited March 27, 2023 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
spyguy Posted March 27, 2023 Share Posted March 27, 2023 32 minutes ago, Saving For a Space Ship said: just posted this on rental health hpc bbc thread . a piece on bbc news with 40% of right to buy council houses now being rented out as BTL, one house in lewisham visted by previous seller , now with 6 tenants paying £900+ a month , one of which is living in half the space of her old kitchen when will this evil madness end. In my dreams I would like to see some great revolt & clubbing together of folks cash to buy land & build modular building factories, to provide housing away from these parasites. perhaps the diy garden room movement could help, such as ( I have no commercial link to them ) Oakwood Garden Rooms Oakwood Garden Rooms self build group https://www.facebook.com/groups/3043587272414632 https://www.housepricecrash.co.uk/forum/index.php?/topic/248762-bbc-examines-rental-health-with-a-series-of-special-programming-across-radio-4-5-live-and-bbc-news/ What’s Gone Wrong with Our Housing? Panorama On TV service-c067e679a1.svg Today 20:00 'Millions of council houses were built after the war to help protect people from slum landlords. They used to be home to around a third of the UK population. Margaret Thatcher’s flagship right-to-buy policy boosted home ownership, but the council house sell-off is causing major problems 40 years on. Many former council properties are now in the hands of private landlords. In some parts of the country, rents are going through the roof, and slum landlords are back.' Reporter Richard Bilton investigates what’s been happening, by telling the story of one housing estate inLondon. https://www.bbc.co.uk/programmes/m001kk0h Thats a HMO and needs licensing, which it would fail. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted March 27, 2023 Share Posted March 27, 2023 (edited) 8 minutes ago, spyguy said: Thats a HMO and needs licensing, which it would fail. I think the clip was from tonights panorama. The interviewer suggested similar previous alleged problems with the landlord re: illegal evictions, suggesting the council should not license him if true, as the tenants were on benefits Edited March 27, 2023 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Lagarde's Drift Posted March 27, 2023 Share Posted March 27, 2023 1 hour ago, muyuubyou said: the question if is they can justify £1M for those properties, if they can't get an average of at least 600 quid a month each, or they'll be actually losing money to even moderate interest on the loan, not even considering expenses and upkeep It don't matter if they're a front for drugs and crime money and paying no interest on the "loans". Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 27, 2023 Share Posted March 27, 2023 1 hour ago, Lagarde's Drift said: It don't matter if they're a front for drugs and crime money and paying no interest on the "loans". It's a characteristic of money laundering, nevertheless, heh. Quote Link to comment Share on other sites More sharing options...
markyh Posted March 27, 2023 Share Posted March 27, 2023 On 26/03/2023 at 17:23, MARTINX9 said: A lot of them seem to old or too sick or just too unqualified if of working age to work more. Its easy to say have a contingency in place - but perhaps they never got the chance to do so? Useless Eaters. They can always die. it's a choice. Quote Link to comment Share on other sites More sharing options...
muyuubyou Posted March 27, 2023 Share Posted March 27, 2023 7 hours ago, Lagarde's Drift said: It don't matter if they're a front for drugs and crime money and paying no interest on the "loans". idk about that if that's the case they're failing miserably at not bringing attention upon themselves Quote Link to comment Share on other sites More sharing options...
Lagarde's Drift Posted March 28, 2023 Share Posted March 28, 2023 9 hours ago, muyuubyou said: idk about that if that's the case they're failing miserably at not bringing attention upon themselves Didn't say they were good at it! Quote Link to comment Share on other sites More sharing options...
getknk Posted March 28, 2023 Share Posted March 28, 2023 (edited) On 26/03/2023 at 14:09, fellow said: The jet-setting couple who have bought an ENTIRE village in Wales and raised rents by 60 per cent - as locals facing eviction launch desperate protests to stay in their homes They must be crazy to buy properties and hike rent in Labour run Wales. There won't be a single sympathy from govt or even they will turn the law to screw the landlords and get those votes Edited March 28, 2023 by getknk Quote Link to comment Share on other sites More sharing options...
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