|
Post by shyinvestor on Feb 28, 2019 11:19:07 GMT
Great news that the Vickers loan has been repaid, and all capital and interest has been credited. Hope a few other p2p providers take note.
|
|
michaelc
Member of DD Central
Posts: 4,788
Likes: 2,735
|
Post by michaelc on Feb 28, 2019 22:47:33 GMT
I wasn't invested in that loan and now its repaid there's obviously no history.
Was it a long recovery period? And did the borrower pay up in the end or was the repayment made from the sale of the property?
Any info would be interesting to many I'm sure.
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Mar 1, 2019 19:10:12 GMT
Err... a loan repaying on BC with full capital and interest is hardly news, its what they do well, and unless it was a really big one the chances of there being other users of this forum invested are pretty small. Personally whilst I occasionally find amusement in the updates I'll be a lot more interested when they eventually have a loss - has to happen sooner or later, but until then "nothing to see"...
|
|
phil
Posts: 190
Likes: 165
|
Post by phil on Mar 1, 2019 20:43:51 GMT
Err... a loan repaying on BC with full capital and interest is hardly news, its what they do well, and unless it was a really big one the chances of there being other users of this forum invested are pretty small. Personally whilst I occasionally find amusement in the updates I'll be a lot more interested when they eventually have a loss - has to happen sooner or later, but until then "nothing to see"... Indeed, sooner or later.... I'm awaiting the outcome of 1094, one year overdue, a low LTV, will be interesting to see what it fetches given it's an undeveloped plot in perhaps not the best of locations.
|
|
michaelc
Member of DD Central
Posts: 4,788
Likes: 2,735
|
Post by michaelc on Mar 1, 2019 22:32:46 GMT
Err... a loan repaying on BC with full capital and interest is hardly news, its what they do well, and unless it was a really big one the chances of there being other users of this forum invested are pretty small. Personally whilst I occasionally find amusement in the updates I'll be a lot more interested when they eventually have a loss - has to happen sooner or later, but until then "nothing to see"... Well, shyinvestor obviously thought it was interesting and I was interested to find out why. Anything wrong with that?
|
|
phil
Posts: 190
Likes: 165
|
Post by phil on Mar 3, 2019 19:16:55 GMT
Err... a loan repaying on BC with full capital and interest is hardly news, its what they do well, and unless it was a really big one the chances of there being other users of this forum invested are pretty small. Personally whilst I occasionally find amusement in the updates I'll be a lot more interested when they eventually have a loss - has to happen sooner or later, but until then "nothing to see"... Well, shyinvestor obviously thought it was interesting and I was interested to find out why. Anything wrong with that? Me too, always interested in how platforms tackle defaults. I wish someone at FS would place BC in charge of defaults there, that Barnoldswick farmhouse and it's 38 acres would have been actioned yonks ago....all the delay has achieved is to build up the interest for the first tranche investors meaning 2nd charge are likely to get diddly squat. A lesson not to invest in 2nd charge, at least where FS are concerned. (I'm only in Barnoldswick first charge though I do invest in BC second charges)
|
|
Greenwood2
Member of DD Central
Posts: 4,216
Likes: 2,669
|
Post by Greenwood2 on Mar 4, 2019 7:06:56 GMT
For info, I had one loan repay recently 8 months late full capital and interest, property was possessed and sold. Very nice lump of rolled interest received.
|
|
phil
Posts: 190
Likes: 165
|
Post by phil on Mar 6, 2019 23:20:47 GMT
Another interesting loan, 1023, 18 months overdue, which shows the problems that can arise when a house is occupied. It may be worth reflecting on tenanted houses before investing, I understand that some tenancies may be binding on the landlord's mortgage lender meaning it could take some time to evict. Reading through 1023's updates I'd say BC's actions were thorough as usual.
|
|
michaelc
Member of DD Central
Posts: 4,788
Likes: 2,735
|
Post by michaelc on Mar 7, 2019 18:38:58 GMT
For me this shows to be especially careful when lending in Scotland. I think there are always likely to be tenants or owner-occupied who will need evicting which takes a long time anyway but in Scotland takes an additional year !
Its almost surprising that mainstream lenders provide mortgages there or perhaps they add a clause "no elderly relatives allowed to stay in the property" !!
|
|