TOPIC:

As you all probably know, the initial plan was to ask for only £350k from the bank, and the thermometer has been reflecting this. Now, however, we have been to Lloyds to ask for more. We will have our answer on Monday: we anticipate from what was said at the meeting that they will easily agree £425k, and may go higher. The thermometer has now been adapted to show this revised target.

Don't please be misled by wild rumours of some star or other suddenly putting in 100k and getting us over the line. All share holdings are limited to 20k per person. We still need YOUR cheque or BACS transfer in the next few days! Thanks, Patrick

Does the increased loan facility mean you will be less likely to pay any interest?

How long will it take to pay off the £425,000 loan?

And finally, the purchase price is £925,000, so if you raise £500k from the offer, and £425k from Lloyds, where will the extra £ come from to pay the stamp duty and other costs involved with this purchase, which could be upwardsof £30k?

But if any star DOES have £100k to spare - get in touch with the community organisers and arrange to invest the extra £80k as a LOAN

at the moment the price of our bankloans is such that we stay on target for interest repayments to members [and others, if other arrangements are made]
...especially if we can sell shares again in future [which is the plan for when the purchase is made] to reduce the dependence on the bank

I'm sending my cheque today, a friend is also sending a cheque today - we will get there!