INDEX to Wirral x 5 + Llandudno x 2 - ALL DEFAULTED

Suffering from deja-vu ?

Well, yes, you did indeed see a similar index (link fixed) a couple a weeks ago to a different set of 7 loans totalling c. £6m to a single borrower. After seeing a number of posts picking up on the £6m figure I started to wonder how much another notorious borrower owed us.

I'm beginning to wonder if a pattern is emerging across all p2p platforms, such that when a borrower has more than say three concurrent p2p loans the end point is likely to be undesirable. Why three ? Well its probably reasonable to have loans against a "current" project, a "next" project and perhaps the family's residential property, or a completed revenue generating project.

Whenever I consider this borrower's loans I can't help thinking back to the early discussions on the Llandudno Hotel, with profunder (who hasn't logged onto the forum in the last 2 years) giving it a thumbs up and saying (here and previous few posts) that he was putting £100k into it despite scepticism from myself and others. I often wonder how long he actually held that loan for.

Very interesting. I can't say I was specifically influenced by that user but certainly around that time I used to give too much thought to what users were saying without questioning their motives. I was under the incorrect assumption that the forum was filled with mostly friendly chaps who were sharing what they knew. Many are just that of course but there remains an element who are posting for other reasons so my advice is to be careful who you listen to! (MrCLondon and the other mods are a good start IMO).

I did invest in the Hotel but thankfully only a relatively small amount and it doesn't seem to be the worst loan I've ever invested in even though it has defaulted. Time will tell.

some of these worry me - not least the tower block - hopefully FS are going to invite this chap in for a chat and give him the Alex Ferguson hair-dryer treatment!

How are things at F/S at the moment.

Not great then.