Wad Posted May 2, 2007 Share Posted May 2, 2007 I am watching Property Ladder and two guys borrowed £2.5 million and have yet to sell any of the properties in their three developments. The man and wife team have in Sarah Beeney's words 'taken on a staggering amount of debt' and have overspent on developing the house with the barn still to develop. Surely these people are taking on far too much risk and are extremely vulnerable if the market dries up. Quote Link to comment Share on other sites More sharing options...
munimula Posted May 2, 2007 Share Posted May 2, 2007 I am watching Property Ladder and two guys borrowed £2.5 million and have yet to sell any of the properties in their three developments. The man and wife team have in Sarah Beeney's words 'taken on a staggering amount of debt' and have overspent on developing the house with the barn still to develop.Surely these people are taking on far too much risk and are extremely vulnerable if the market dries up. Sadly the figures have become irrelevant. If you go bust owing £2.5Million or £50K the result will be the same, you'll just be back to where you started - with nothing. Quote Link to comment Share on other sites More sharing options...
A Fool & His Borrowed Money Posted May 2, 2007 Share Posted May 2, 2007 I am watching Property Ladder and two guys borrowed £2.5 million and have yet to sell any of the properties in their three developments. The man and wife team have in Sarah Beeney's words 'taken on a staggering amount of debt' and have overspent on developing the house with the barn still to develop.Surely these people are taking on far too much risk and are extremely vulnerable if the market dries up. Property Ladder Lottery. Buy 150k of tickets to win the jackpot on debt. Quote Link to comment Share on other sites More sharing options...
margesimpson Posted May 2, 2007 Share Posted May 2, 2007 Wad - flash cars though, the pair of them Quote Link to comment Share on other sites More sharing options...
Wad Posted May 2, 2007 Author Share Posted May 2, 2007 Wad - flash cars though, the pair of them Yeah I noticed that too. I just do not understand how the funding is put together for these projects. I have never had a mortgage or borrowed anything other than a student loan which I paid off on the day that the special introductory rate finished. I have to admit, I am completely naieve about debt - can anyone explain how you approach a bank to get projects like these funded? Meanwhile I off to watch a bloke self build an Eco-house on his own without losing a limb (Grand Designs). Quote Link to comment Share on other sites More sharing options...
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