bugs4me
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Post by bugs4me on Jul 17, 2018 13:14:52 GMT
adrian77 - think you should include S****h W***s Property (1442701959) - it's been live for 1070 days plus and must take (close to) the gold medal spot for can kicking. Will be lucky if the first tranche holders (including me) come out with just a 50% haircut and the second tranche will be 100% loss. But who knows with this professional can kicking although as a (probably) unmaintained GradeII listed property it's devaluing by the day especially as there was reported at some stage water ingress.
Make sure you're got plenty of time on your hands before you read the updates
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adrian77
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Post by adrian77 on Jul 17, 2018 13:27:21 GMT
agreed - it is being added to the FA league
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Post by beepbeepimajeep on Jul 19, 2018 16:07:17 GMT
There could be a Champions League as well, involving all the p2p platforms competing for the most spectacular of failures. Both real £££ losses and the % amount of loss taken into consideration, as well as outright bs'ing by the platform/borrower. Whitehaven strong early favourites to take the inaugural title.
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empirica
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Post by empirica on Jul 19, 2018 16:26:16 GMT
There could be a Champions League as well, involving all the p2p platforms competing for the most spectacular of failures. Both real £££ losses and the % amount of loss taken into consideration, as well as outright bs'ing by the platform/borrower. Whitehaven strong early favourites to take the inaugural title. According a list in the purple place, (who maintain an Unrecovered Capital tracker) FS' very own 6742133163 wind turbine loan hold the %-loss title at 70% and Lendy's PBL155 'fortified house' the £-loss title at a smidge under £2.1mm As for the BS'ing title, I doubt even VAR would be able to make a decision on that
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jul 19, 2018 20:59:43 GMT
There could be a Champions League as well, involving all the p2p platforms competing for the most spectacular of failures. Both real £££ losses and the % amount of loss taken into consideration, as well as outright bs'ing by the platform/borrower. Whitehaven strong early favourites to take the inaugural title. According a list in the purple place, (who maintain an Unrecovered Capital tracker) FS' very own 6742133163 wind turbine loan hold the %-loss title at 70% and Lendy's PBL155 'fortified house' the £-loss title at a smidge under £2.1mmAs for the BS'ing title, I doubt even VAR would be able to make a decision on that But about to be overtaken by MT's Birkenhead fiasco. And ABL's container loan looks favourite to be the first 100% loss.
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Post by charliebrown on Jul 20, 2018 9:10:40 GMT
Lendy are losing people the most money in absolute terms. There’s multiple multi-million pound losses been voted on and looking at their loan book there’s more to come. Scary.
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star dust
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Post by star dust on Jul 20, 2018 9:35:01 GMT
There could be a Champions League as well, involving all the p2p platforms competing for the most spectacular of failures. Both real £££ losses and the % amount of loss taken into consideration, as well as outright bs'ing by the platform/borrower. Whitehaven strong early favourites to take the inaugural title. According a list in the purple place, (who maintain an Unrecovered Capital tracker) FS' very own 6742133163 wind turbine loan hold the %-loss title at 70% and Lendy's PBL155 'fortified house' the £-loss title at a smidge under £2.1mm As for the BS'ing title, I doubt even VAR would be able to make a decision on that One was started here - entitled "Major Loan Losses" in the General Discussion Board, but the OP deleted their post on the 18 th April - now we know why.
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adrian77
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Post by adrian77 on Jul 21, 2018 9:01:04 GMT
For prior league entries please see Whilst doing my research on this there are many FS loans that really worry me - however to be scrupously fair I am only mentioning Fs loans that are late so as not to prejudice any existing loans
thus we now have
7a) south wales hotel £420K loan predicted loss £120K – league 1 loss
7b) south wales hotel £100K loan predicted loss £100K 100% – Premier
8) Military and Time Piece Collection 1013434811 378K loan – predicted loss 150K league 1 this is based upon a forum member who really knows this market,
And now the Mother of all Predicted Failures for this week
9a) 2 p**k h*mes £165 predicted loss £60K league 1
9b) £33K second charge predicted loss - 100% £33K Premier
9c) £33K third charge - 100% £33K premier
I also note that despite and original loan value being given it was twice extended - really don't like that!
9b 5 p**k h*mes loan £228K predicted loss anywhere from £128K - £28K so a generous league 1
I may well be wrong but this is one of the craziest business models I have ever seen - if a dealer wanted one of these things why would he buy from this chap and not go direct to the manufacturer. I see no evidence of a site for these things and however much do they depreciate ex-factory? In fact I am not even convinced these things will be sold unless they are massively discounted - just my opinion.
10) Trains - very confusing as to what is actually happening - I think a 50% recovery on one loan has already been made so to simplify I have this one as
loan outstanding of £57K with predicted loss of £30K cost League 1
11) Newcastle student flats Haven't time to do detailed research so a very superficial comment loan £860K predicted loss £360K– League 1
12) Cinema - granted this one may have a serious buyer who will cover the loan but I really can't see it especially as were originally told
Loan £2m - predicted loss £1m+ - League 1 although could reach the Premiership! ---update loan £1.65m predicted loss £650K - league 2 if very lucky loan £250K 2nd charge predicted loss 100% Premier League loan £100K 3rd charge predicted loss 100% Premier League ---- end update
Again a bit of a belter!
That's it for this week - please say if you don't agree or I have missed any. I note comments about V*n*y *ridge etc but will add this once the repayments are late
Clearly FS have already hit 100% total losses but are clearly trying to delay formal admission of this for as long as possible. What I am planning on doing is seeing how my predictions compare to the final results so we can validate just how accurate the FS valuations etc are - as of now, it is not looking very good is it! I will also summarise a list of 100% losses
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empirica
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Post by empirica on Jul 21, 2018 14:07:37 GMT
According a list in the purple place, (who maintain an Unrecovered Capital tracker) FS' very own 6742133163 wind turbine loan hold the %-loss title at 70% and Lendy's PBL155 'fortified house' the £-loss title at a smidge under £2.1mm As for the BS'ing title, I doubt even VAR would be able to make a decision on that One was started here - entitled "Major Loan Losses" in the General Discussion Board, but the OP deleted their post on the 18 th April - now we know why. Well that was incredibly prescient of the OP as the Unrecovered Capital tracker thread in the other forum wasn't started until May 6th!
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Post by beepbeepimajeep on Jul 21, 2018 14:44:22 GMT
VIP could easily be a 100% loss as that loan is secured on precisely sod all.
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bugs4me
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Post by bugs4me on Jul 21, 2018 20:56:35 GMT
Thanks adrian77 for the updates. Just a thought, would it not be easier to simply edit and add these to your original post, then they would all be in one place and easier to see on an 'at a glance' basis.
Your shout so your decision as to what you feel is best.
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empirica
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Post by empirica on Jul 21, 2018 21:34:32 GMT
It does make it fragmented _ eg: this thread's OP starts at 7a) which means trekking off (appreciate link is provided) to find the first 6.
It might make more sense to adopt a table format and issue a new post within the original thread weekly showing new loans and whether existing loans had been 'promoted' or 'demoted' depending on what the week's developments / announcements / your gut feel warranted.
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adrian77
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Post by adrian77 on Jul 22, 2018 6:58:20 GMT
I plan to do this and collate all the entries once I get to 20 or so but at the moment I am very busy and there are just so many problematic loans at the moment. I am also currently looking to put a spreadsheet on google drive. Whitehaven seems to be even worse than feared so goodness knows what will happen with Suffolk, V*** B**, cinema etc
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Post by beepbeepimajeep on Jul 22, 2018 17:28:30 GMT
Not sure which is worse to be in at the moment, the art loans or VIP. Being an excellent judge of p2p investments, I am of course in all of them
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adrian77
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Post by adrian77 on Jul 22, 2018 18:03:45 GMT
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