Sancus Lending Share Discussion Threads

[blackhorse23] 21/7/2022 12:05

another LSE lender MCL looks very attractive , mcap 6 millions but loan book floating 250 millions , oversold

[peterbill] 17/3/2022 10:53

Trading Update


Sancus today announces an update on trading in the financial year to 31 December 2021.

Based on its unaudited financial results for the year, Sancus is expected to generate revenue of approximately £9.0m for FY21 (FY20: £10.9m), slightly below prior expectations. The Group expects to record a net operating loss for FY21 of approximately £10.3m (FY20: loss £14.5m).



The reduction in revenue is, in part, due to a decrease in the loan book, falling 17% to £141m in FY21 (FY20: £171m) and from the knock-on impact of Covid on new loans written, delayed loan closures, and therefore reduction in associated transactional fees. The reduction in the loan book has largely been seen in the offshore jurisdictions of Jersey, Guernsey and Gibraltar that were impacted by a significant restructuring of their management teams.


Following Rory Mepham's appointment as CEO in June 2021, a detailed evaluation of the Group's loan book was completed. Particular focus was given to reviewing historic loans that were either delinquent or defaulted. As a result of this exercise, the Group expects to report an increase in credit loss provisions of £6.5m for the FY21 (FY20: £4.7m). Virtually all of the provisions made relate to legacy loans written in 2018, or prior to 2018. For all of the impacted legacy loan positions, the new senior management team have put together deliverable workout strategies and these are now underway. The seasoned property professionals within the new Sancus team will continue working hard to recover value for all participants in these positions.

more at

Dismal failure ...

[bluemango] 27/9/2021 10:56

Disappointing to see the "GBP3.0m provision relating to an increase in expected credit losses under IFRS9" (largely against interest due, not loan principal)

On the other hand, new loan facilities of GBP53m for the half year are already more than for the full previous year, so at least that bodes well.

[bluemango] 12/5/2021 22:47

New thread after change of name on 11th May 2021, from previous GLI Finance (GLIF)

[bluemango] 12/5/2021 22:42

Sancus Lending Group Limited is an AIM listed alternative finance provider, offering Borrowers fast, bespoke bridging and development finance and Co-Funders a range of asset backed funding opportunities.

Previously GLI Finance (GLIF) - name changed 11th May 2021

The company's zero dividend preference shares trade under ticker name LENZ

Website:

[tarzanhey] 23/3/2008 17:42

insanity if you ask me- should be outlawed.

interesting article found on rxp thread

[nicd] 23/3/2008 17:33

Shorting and lending of stock should, and must be criminalised. How do we allow these pirates to diminish the value of our holdings by facilitating short selling?
The stock market exist to fund companies and pensions, not the Cristal lifestyle of brokers and hedge funds.

[drbeat] 13/4/2005 20:54

Wonder if there are any accountants here?

Case - If I set up a limited company to own a commercial property which costs say 500k and I lend the company 200k
Can I charge the company interest on the 200k? What are the tax implications for the company and income tax ones fror me?

[robin george] 02/8/2003 15:27

Perhaps he should ask Pommy if he can help .

Robin

[hijeff] 02/8/2003 15:25

if this friend were to follow ainsophs tips he could buy the house cash.

[logica2me] 02/8/2003 15:22

Never mind. He's hoping to win the Lotto tonight.

Not for forks sake get on MSN !

[robin george] 02/8/2003 15:21

Oh dear .

Robin

[robin george] 02/8/2003 14:55

"Joe"

Did your "friend" make any progress ?

Robin

[6million dollarman] 23/7/2003 19:25

try this lot

[madgooner] 23/7/2003 19:19

Logica,

The combination is a tough one. Some Lenders do adverse credit and others do 100%, I've personally not come across one that does both. If they do they are likely on a hiding to nothing I think.

[logica2me] 23/7/2003 13:57

Double6

Email me mate. It's the same one we talked about last night though.

Log

[double6] 23/7/2003 13:19

Cheers - would appreciate details before you put it to press, so I can top up on them ??

[logica2me] 23/7/2003 13:15

Double6

There is one research note that I am currently producing, I am also topping up with them myself this afternoon, so will be starting a thread this evening - You will be the first to know the tip.

Ciao, Log

[double6] 23/7/2003 13:07

Joe - are there any shares your looking at buying at the minute ??

[logica2me] 23/7/2003 13:04

Chaps

A friend of mine is interested in buying a house yet has quite a bit of bad credit history - from what I understand, this includes defaults & CCJs, though he has agreed repayment proposals with all creditors and is on track to repay them within a 4-5 year period.

His normal bank has turned him down, for obvious reasons - I don't think he has assets, so a deposit would not be possible, though he is employed full time.

Has anyone had any success in obtaining a mortgage whilst being in this position? Is it possible to obtain a mortgage whislt still being in debt, or will the interest rate be loaded at a silly rate?

Many thanks, Joe

[charles bronson] 30/3/2002 02:02

hark at her!