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lypsey

John Charcol In Trouble

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http://www.thisismoney.co.uk/mortgages/hou..._id=57&ct=5

It says "Mortgage broker John Charcol faces new turmoil, with £820,000 of loan stock that had been due for repayment in June 2007 deferred to next month.

Its auditor has said the firm faces a 'material uncertainty' about its future. But Charcol chief executive Ian Kennedy said: 'We're not in trouble at all.' He would not say whether the firm would meet next month's deadline. The auditors said liabilities exceeded assets by £532,000. Founders John Garfield and Charles Wishart and private-equity specialist Jon Moulton lent the company an extra £1.5m at the end of 2007.

Charcol is owned by Moulton, private-equity house Advantage Capital, its staff, Wishart, Garfield and former director Ian Darby. "

I have written to these people because they have always ramped the housing market...... good riddence

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I'm always a bit reluctant to laugh at things like this - you never know when it's your turn and ordinary people will lose their jobs.

The thing that puzzles me is ... if they haven't made a fortune over the last few years ... WHY ON EARTH NOT? If a mortgage broker didn't make big money in a boom what chance have they now?

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Yes, the loan was due to be repaid in June last year while everything was going crackerjack. What did they do with all the cash they must have been making hand over fist at that point?

Oh I get it, they were chasing market share and running at a loss.

I wonder how many more there are that did that?

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[

:lol: Kick a guy when he's down! :lol: Hate mail! :lol:

Sorry , I didn't make that very clear , I have seen him several times in the last 6 months on BBC and ITV saying great time for FTB'er to buy and good also for BTL , great opportunity etc etc blah blah

So I wrote to him trying to explain it was the worst time to buy... and hey presto.. the market is falling

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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