rozentas
Suck it and see
Posts: 21
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Post by rozentas on Aug 29, 2018 12:27:50 GMT
I have been with BC for over 3 years and always have about 10 loans on the go. 50% of my current BC loans are overdue or in default, but their track record for me is 100% capital and interest repayment and my experience is that in the bridging world it’s not uncommon to have loans take longer than initially planned to pay back.
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michaelc
Member of DD Central
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Post by michaelc on Aug 30, 2018 20:34:44 GMT
I have been with BC for over 3 years and always have about 10 loans on the go. 50% of my current BC loans are overdue or in default, but their track record for me is 100% capital and interest repayment and my experience is that in the bridging world it’s not uncommon to have loans take longer than initially planned to pay back. Thanks for your stats and I share your opinion about BC loans etc and that is why I'm also relaxed. However, it doesn't seem to substantiate the official statistics. To be completely transparent I'm going to list which loans were the four above and also post the next one that is due so that it would be impossible for me to retrospectively pick loans to match my figures. So, the four are: 1193 - late 1230 - late 1217 - repaid 1191 - late The next one to fall due for me is 1225 in 1 month and 16 days from today's date. Hopefully I'll remember then and will post up what happens and if any of the other late ones repay I'll post that too (if I remember!). Then if I'm lucky Jack Barlow will do another calculation or I'll do it and again if I'm lucky he can mark it And if I'm incredibly lucky, he will tell us given the sample size, if the results are statistically significant.
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michaelc
Member of DD Central
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Likes: 2,735
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Post by michaelc on Aug 30, 2018 20:43:55 GMT
If you want an investor example on a larger sample size of 50+ loans, I have just quickly reviewed my loan book: - Loans requiring extension / overdue: 21.68% - Loans where full capital and interest has been returned over the past 2+ years: 100% BC is currently my largest platform and I am very happy with the returns, due diligence/valuations and management of late loans. Why do you think the number of active loans in my case is smaller? Yes, I'm relatively new to BC but over the past 6 months or so I've been ramping up fairly aggressively. Assuming your 21.68% is calculated by dividing the number of your late loans by the total of your active loans (i.e. excluding repaid) then that would seem to corroborate the official stats and is definitely good news.
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michaelc
Member of DD Central
Posts: 4,788
Likes: 2,735
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Post by michaelc on Sept 10, 2018 13:59:02 GMT
1191 now repaid in full.
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phil
Posts: 190
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Post by phil on Sept 18, 2018 5:35:08 GMT
I actually helped Louis regain his access to the platform and my understanding is he will be writing something shortly. Think you need to chill a bit. I shan't carry on this debate any further as you clearly are motivated to spend time trawling through my historic posts and attack me for them. You are clearly motivated to disparage BC statistics, I'm merely responding and telling you that statistically BC has thus far performed well and you are worrying needlessly over your late loans. I suggest you're the one that needs to chill, I certainly do, having made my investments I relax in the knowledge that I'm invested in established residential properties with a platform that has a robust strategy of dealing with defaults.
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phil
Posts: 190
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Post by phil on Sept 18, 2018 5:40:25 GMT
Seriously? That was a 25% LTV first charge, I'd have been cock-a-hoop to have had that one go into default at 1.1%, wouldn't have been describing myself as unlucky.
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Post by dan1 on Sept 18, 2018 6:27:42 GMT
I actually helped Louis regain his access to the platform and my understanding is he will be writing something shortly. Think you need to chill a bit. I shan't carry on this debate any further as you clearly are motivated to spend time trawling through my historic posts and attack me for them. You are clearly motivated to disparage BC statistics, I'm merely responding and telling you that statistically BC has thus far performed well and you are worrying needlessly over your late loans. I suggest you're the one that needs to chill, I certainly do, having made my investments I relax in the knowledge that I'm invested in established residential properties with a platform that has a robust strategy of dealing with defaults. Everything ok phil? Perhaps you should take your own investment advice and relax a bit when it comes to the forum. Just a thought...
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phil
Posts: 190
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Post by phil on Oct 5, 2018 16:50:22 GMT
You are clearly motivated to disparage BC statistics, I'm merely responding and telling you that statistically BC has thus far performed well and you are worrying needlessly over your late loans. I suggest you're the one that needs to chill, I certainly do, having made my investments I relax in the knowledge that I'm invested in established residential properties with a platform that has a robust strategy of dealing with defaults. Everything ok phil ? Perhaps you should take your own investment advice and relax a bit when it comes to the forum. Just a thought... The needless disparaging of well documented statistics and the unfair reflection it brings upon BC should be more of a concern for a moderator than my replies to michael....just a thought....
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Post by dan1 on Oct 6, 2018 7:33:41 GMT
Everything ok phil ? Perhaps you should take your own investment advice and relax a bit when it comes to the forum. Just a thought... The needless disparaging of well documented statistics and the unfair reflection it brings upon BC should be more of a concern for a moderator than my replies to michael....just a thought.... phil - if you suspect someone has undeclared motives for posting, for example you suspect they are a shill, the correct process is to report one of their posts to allow the mod team to investigate.
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