I have recently given up after over 7 months of continual promises of funding, right up to a time when I placed a Deadline on proceedings, when my deadline expired then Tom McKenzie claimed he “Closed” the application. I have tried to be as understanding as possible of the current economic crises but what I have learned over the past months about this "Organisation" is frankly an outrage... I paid in good faith £8, 750.00 to Wilmshurst Finance (Ms Gemma Wilmshurst) which is a representative arm of Prospexx which is in turn is headed up by Tom McKenzie, this payment was under the understanding that Wilmshurst/Prospexx were the Principal Lender with funds - This is the key issue - WITH FUNDS.
Whereas Prospexx/Wilmshurst may have "ACCESS" to funds clearly they do not have the authority to utilize it and have to ask for the funds to be "Authorised for release" from each of the individual Equity Investors before Wilmshurst or Prospexx can actually make the Loan available.
If the Investors decline to "authorise" the funds then Prospexx via Wilmshurst can not provide the Loan...
Doesn’t matter how you boil this down it means that at the point Prospexx or Wilmshurst state they are able to provide a Loan, they are in fact not, until they have funds authorised for release by the individual Investors that make up the Equity provided by Prospexx/Wilmshurst – as such Prospexx/Wilmshurst can at best HOPE that they will be authorised to release funds but actually do not HAVE fully under their control sufficiently to really enable to them to give such undertaking to any Borrower...
Any “advance” payment is therefore being made without funds being in place, I passed Due Diligence with flying colours and have written evidence from Tom himself that up and till a few days before he closed my Application (after my deadline expired??), a Contract was due.
From my experience I most sincerely hope anyone considering applying to Prospexx or Wilmshurst does so after very careful consideration and in the full knowledge of the risk they take with their very hard earned money… I have commenced Legal proceedings against Wilmshurst Finance, contributions welcome, financial or otherwise!
Tom if you read this, your THREATS do not scare me, “ bring it on! “
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