Repossesion of St Marys

[magnet]

As the prospect of administration hangs over us I was wondering how that will effect ownership of St Marys. As we have a mortgage on it does that mean that the lender can take back possession of St Marys much in the same way a bank would take your house if you failed to meet the mortgage payments?

 

If so we could possibly end up not even having a ground to play in :-(

[a1ex2001]

As the prospect of administration hangs over us I was wondering how that will effect ownership of St Marys. As we have a mortgage on it does that mean that the lender can take back possession of St Marys much in the same way a bank would take your house if you failed to meet the mortgage payments?

 

If so we could possibly end up not even having a ground to play in :-(

 

Possible but very very unlikely, the ground isn't worth very much as realestate given the location and the current financial crisis. the bank are much more likely to transfer the loan arrangment to the new owners with maybe a slight renegotiaiton as they will see more money in the long run.

[Victor]

As the prospect of administration hangs over us I was wondering how that will effect ownership of St Marys. As we have a mortgage on it does that mean that the lender can take back possession of St Marys much in the same way a bank would take your house if you failed to meet the mortgage payments?

 

If so we could possibly end up not even having a ground to play in :-(

 

Fear not, the good Brown Knight, Sir Gordon, has promised the fair St. Mary that he will defend her castle from the clutches of the Black Knight, Sir Dastardly de Berkeley, for the next 2 years.

[silverback]

Fear not, the good Brown Knight, Sir Gordon, has promised the fair St. Mary that he will defend her castle from the clutches of the Black Knight, Sir Dastardly de Berkeley, for the next 2 years.

 

Have you been playing with the toilet duck again!!!!!

[londonsaint1604]

We can play at riverside park instead

[Hatch]

Just play away games.

[bridge too far]

Just play away games.

 

Good idea - we play better away from home anyway.

[Huffton]

I would say thats about as likely as me ****ging Reese Witherspoon.

Banks repossess houses because the owner has defaulted so they cut there loss by selling the property at auction to new owners. Who else would buy a football stadium?

[Fowllyd]

As the prospect of administration hangs over us I was wondering how that will effect ownership of St Marys. As we have a mortgage on it does that mean that the lender can take back possession of St Marys much in the same way a bank would take your house if you failed to meet the mortgage payments?

 

If so we could possibly end up not even having a ground to play in :-(

 

Look at this another way. As far as I know, we've kept up payments on the stadium loan ever since they started. So we're not in arrears on the mortgage. Given that companies get pushed into administration by creditors, this is a good thing (except of course for those hoping for administration to happen), as it means that our single biggest creditor is happy and won't be pulling the plug.

[Flyer]

I would say thats about as likely as me ****ging Reese Witherspoon.

Banks repossess houses because the owner has defaulted so they cut there loss by selling the property at auction to new owners. Who else would buy a football stadium?

 

How about the bank regains control of the ground and Saints rent the ground with never ending payments rather than pay off the mortgage and own it in 10-15 years time and the payments will stop?

[Legod Third Coming]

How about the bank regains control of the ground and Saints rent the ground with never ending payments rather than pay off the mortgage and own it in 10-15 years time and the payments will stop?

 

Are you Gordon Brown?

[captainchris]

As the prospect of administration hangs over us I was wondering how that will effect ownership of St Marys. As we have a mortgage on it does that mean that the lender can take back possession of St Marys much in the same way a bank would take your house if you failed to meet the mortgage payments?

 

If so we could possibly end up not even having a ground to play in :-(

 

Boring boring boring more anti Lowe bitterness with no substance. For Gods sake get a life or better still an education!

[anothersaintinsouthsea]

I would say thats about as likely as me ****ging Reese Witherspoon.

Banks repossess houses because the owner has defaulted so they cut there loss by selling the property at auction to new owners. Who else would buy a football stadium?

 

Pompey?

[Weston Super Saint]

What would Barclays do with it anyway? It's kind of a niche market isn't it, owning a football stadium.

 

I suppose they could put a tarpaulin on the roof, call it a giant tent and rent it out to the cub scouts for jamborees

[benjii]

What would Barclays do with it anyway? It's kind of a niche market isn't it, owning a football stadium.

 

I suppose they could put a tarpaulin on the roof, call it a giant tent and rent it out to the cub scouts for jamborees

 

Pedant alert: Norwich Union.

[Hatch]

What would Barclays do with it anyway? It's kind of a niche market isn't it, owning a football stadium.

 

Doesn't matter what the building is as long as the tenant can pay the rent.

Which is not the case here probably.

[Oz]

Pompey?

 

pompey have no readies either