Greenwood2
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Post by Greenwood2 on Apr 17, 2022 15:17:45 GMT
Could you give the loan number? I presume refers to 1286, but it’s not the end of the recovery process. Action against the valuer seems likely, now that a shortfall has been crystallised after sale of the asset. Also, both tranches received interest initially, before the loan was defaulted. It will be interesting to see if the action against the valuation will be successful.
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Greenwood2
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Post by Greenwood2 on Jun 20, 2022 14:26:27 GMT
Another long term late repaid with full interest.
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Greenwood2
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Post by Greenwood2 on Jul 1, 2022 17:25:04 GMT
Another late loan repaid with full interest, I thought this one would be OK, but still good news.
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michaelc
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Post by michaelc on Jul 3, 2022 20:40:24 GMT
Since my last post on just the last page of this thread, you have posted no less than 9 times. Mostly to say how wonderful BC are.
Its getting very boring.
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iRobot
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Post by iRobot on Jul 4, 2022 7:23:22 GMT
Since my last post on just the last page of this thread, you have posted no less than 9 times. Mostly to say how wonderful BC are. Its getting very boring. I think it's simply a response to a comment made in the OP: "I assume some are waiting for recoveries." I should have thought that - in a landscape of platform failings and lenders' financial losses - reports of a platform doing something well should be welcomed. (Even if it is 'only' what all platforms should be doing as a matter of course.) On a wider point, posts of those all-too commonplace platform failings and misdoings (even when rife with inaccuracies and speculation) are feasted upon with a curious relish, whilst reports of success are relegated to, for example, the ' very boring'. What a strange breed homo forumulum are...
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Post by overthehill on Jul 4, 2022 8:17:02 GMT
Since my last post on just the last page of this thread, you have posted no less than 9 times. Mostly to say how wonderful BC are. Its getting very boring. I think it's simply a response to a comment made in the OP: "I assume some are waiting for recoveries." I should have thought that - in a landscape of platform failings and lenders' financial losses - reports of a platform doing something well should be welcomed. (Even if it is 'only' what all platforms should be doing as a matter of course.) On a wider point, posts of those all-too commonplace platform failings and misdoings (even when rife with inaccuracies and speculation) are feasted upon with a curious relish, whilst reports of success are relegated to, for example, the ' very boring'. What a strange breed homo forumulum are...
And there we have it, BREXIT.
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Greenwood2
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Post by Greenwood2 on Jul 4, 2022 9:31:07 GMT
Since my last post on just the last page of this thread, you have posted no less than 9 times. Mostly to say how wonderful BC are. Its getting very boring. Not surprising I'm posting and you're not since you have exited Somo, with all capital and interest repaid in full, I believe you said. Some people might like to know when late loans repay, sorry but it's rather hard to make that into a negative comment I'm afraid.
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michaelc
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Post by michaelc on Jul 4, 2022 11:49:18 GMT
Since my last post on just the last page of this thread, you have posted no less than 9 times. Mostly to say how wonderful BC are. Its getting very boring. I think it's simply a response to a comment made in the OP: "I assume some are waiting for recoveries." I should have thought that - in a landscape of platform failings and lenders' financial losses - reports of a platform doing something well should be welcomed. (Even if it is 'only' what all platforms should be doing as a matter of course.) On a wider point, posts of those all-too commonplace platform failings and misdoings (even when rife with inaccuracies and speculation) are feasted upon with a curious relish, whilst reports of success are relegated to, for example, the ' very boring'. What a strange breed homo forumulum are... The short answer is that it is unlikely to ever be healthy for investors to praise any platform to the skies. That is because it encourages others to invest and those already invested not to pull out. We should be constantly critical and questioning. There is always room for improvement and despite my own personal successes with BC/Somo I would like a lot more transparency across the p2p board. For a slightly more in depth analysis I refer my...er...noble colleagues to a post I made recently which was broadly ignored. Sadly MrC doesn't seem to log in anymore. p2pindependentforum.com/post/454579/thread
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Greenwood2
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Post by Greenwood2 on Jul 4, 2022 12:16:00 GMT
I think it's simply a response to a comment made in the OP: "I assume some are waiting for recoveries." I should have thought that - in a landscape of platform failings and lenders' financial losses - reports of a platform doing something well should be welcomed. (Even if it is 'only' what all platforms should be doing as a matter of course.) On a wider point, posts of those all-too commonplace platform failings and misdoings (even when rife with inaccuracies and speculation) are feasted upon with a curious relish, whilst reports of success are relegated to, for example, the ' very boring'. What a strange breed homo forumulum are... The short answer is that it is unlikely to ever be healthy for i nvestors to praise any platform to the skies. That is because it encourages others to invest and those already invested not to pull out. We should be constantly critical and questioning. There is always room for improvement and despite my own personal successes with BC/Somo I would like a lot more transparency across the p2p board. For a slightly more in depth analysis I refer my...er...noble colleagues to a post I made recently which was broadly ignored. Sadly MrC doesn't seem to log in anymore. p2pindependentforum.com/post/454579/threadI think the days of lenders 'praising platforms to the skies' are long gone. I remember the stuff posted about Coll, Lendy etc and was one of the ones who tried to point out that the high rates on offer meant there was also high risk. I particularly couldn't understand why lenders were buying loans on the SM that were already 100's of days late in some cases (I think that was in the good old days of Saving Stream). Personally I never 'refer a friend', I prefer to keep them! It's good for lenders to report their experiences with different platforms on the forums good and bad for information, but that's all it is. One person's good experience could be another's nightmare. Do your own DD and remember past performance doesn't predict future performance, etc, it's still the wild west out there.
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SteveT
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Post by SteveT on Jul 4, 2022 12:22:17 GMT
I think it's simply a response to a comment made in the OP: "I assume some are waiting for recoveries." I should have thought that - in a landscape of platform failings and lenders' financial losses - reports of a platform doing something well should be welcomed. (Even if it is 'only' what all platforms should be doing as a matter of course.) On a wider point, posts of those all-too commonplace platform failings and misdoings (even when rife with inaccuracies and speculation) are feasted upon with a curious relish, whilst reports of success are relegated to, for example, the ' very boring'. What a strange breed homo forumulum are... The short answer is that it is unlikely to ever be healthy for investors to praise any platform to the skies. That is because it encourages others to invest and those already invested not to pull out. We should be constantly critical and questioning. There is always room for improvement and despite my own personal successes with BC/Somo I would like a lot more transparency across the p2p board. For a slightly more in depth analysis I refer my...er...noble colleagues to a post I made recently which was broadly ignored. Sadly MrC doesn't seem to log in anymore. p2pindependentforum.com/post/454579/threadBut BC/Somo is not a P2P platform and never has been (this has been mentioned before!). The bridge lending sector existed long before the internet, let alone the rise & fall of P2P, and will be around for the foreseeable future. There shouldn't really be a board on this "P2P Independent Forum" for BC/Somo, whose bridge lending competitors don't feature here at all. Yes, some P2P platforms got involved in some bridge lending, but mostly on projects that the long-established bridge lenders had turned down (hence why those borrowers were desperate enough to pay the much higher rates demanded by P2P platforms to fund their "default" rate of 1%pm to P2P lenders). And some people who dabbled in P2P lending also choose to invest (often rather larger sums) via some bridging loan houses, me included. Quite why you are fixated at / triggered by the continued steady returns generated by BC/Somo, a company you've already walked away from with all of your capital and interest paid, and seem unable to differentiate from the fly-by-nights who mostly operated in the P2P sector, is a mystery. Do any of these companies (for example) similarly raise your blood pressure? moneyfacts.co.uk/loans/bridge-loans-uk/#
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michaelc
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Post by michaelc on Jul 4, 2022 12:31:58 GMT
The short answer is that it is unlikely to ever be healthy for investors to praise any platform to the skies. That is because it encourages others to invest and those already invested not to pull out. We should be constantly critical and questioning. There is always room for improvement and despite my own personal successes with BC/Somo I would like a lot more transparency across the p2p board. For a slightly more in depth analysis I refer my...er...noble colleagues to a post I made recently which was broadly ignored. Sadly MrC doesn't seem to log in anymore. p2pindependentforum.com/post/454579/threadBut BC/Somo is not a P2P platform and never has been (this has been mentioned before!). The bridge lending sector existed long before the internet, let alone the rise & fall of P2P, and will be around for the foreseeable future. There shouldn't really be a board on this "P2P Independent Forum" for BC/Somo, whose bridge lending competitors don't feature here at all. Yes, some P2P platforms got involved in some bridge lending, but mostly on projects that the long-established bridge lenders had turned down (hence why those borrowers were desperate enough to pay the much higher rates demanded by P2P platforms to fund their "default" rate of 1%pm to P2P lenders). Quite why you are fixated at / triggered by the continued steady returns generated by BC/Somo, a company you've already walked away from with all of your capital and interest paid, and seem unable to differentiate from the fly-by-nights who mostly operated in the P2P sector, is a mystery. But posting 9 positive threads that invite no debate or analysis in the interim period its not being fixated ? And how do you know I walked away with all my capital and interest unless you have wasted time researching all my posts? You're right though I have and was very happy about it. The answer as to why I keep an interest is that I may well go back in at some point either in this platform or others. Finally the legal distinction of whether it is a p2p or not (it is certainly social lending) is irrelevant to this post.
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SteveT
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Post by SteveT on Jul 4, 2022 12:42:32 GMT
But posting 9 positive threads that invite no debate or analysis in the interim period its not being fixated ? And how do you know I walked away with all my capital and interest unless you have wasted time researching all my posts? You're right though I have and was very happy about it. The answer as to why I keep an interest is that I may well go back in at some point either in this platform or others. Finally the legal distinction of whether it is a p2p or not (it is certainly social lending) is irrelevant to this post. A) I don't know which 9 threads you mean, but I've also seen posts in recent months about some of BC/Somo's long-running defaulted loans (eg. the Scottish land, the Welsh holiday homes). B) Because I've been a member of this forum a very long time and sadly have read all of your posts (on the BC/Somo board, anyway), which are monotonously repetitive C) If you still don't understand the difference between P2P companies and bridge lenders then frankly I guess you never will. By "social lending" I assume you mean using money borrowed from some people to fund loans made to other people? In which case, presumably banks and building societies (many of whom, by the way, compete with BC/Somo for bridge lending) also wind you up? PS. As to why I've engaged this time when I've mostly simply ignored you in the past, it's because you're criticising others for sharing useful information and therefore potentially discouraging them from doing so. I welcome news of how other BC/Somo loans play out, good or bad, because I only see those I've personally invested in. And no, that's not any reason to demand public information sharing by BC/Somo.
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michaelc
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Post by michaelc on Jul 4, 2022 13:09:16 GMT
But posting 9 positive threads that invite no debate or analysis in the interim period its not being fixated ? And how do you know I walked away with all my capital and interest unless you have wasted time researching all my posts? You're right though I have and was very happy about it. The answer as to why I keep an interest is that I may well go back in at some point either in this platform or others. Finally the legal distinction of whether it is a p2p or not (it is certainly social lending) is irrelevant to this post. A) I don't know which 9 threads you mean , but I've also seen posts in recent months about some of BC/Somo's long-running defaulted loans (eg. the Scottish land, the Welsh holiday homes). B) Because I've been a member of this forum a very long time and sadly have read all of your posts (on the BC/Somo board, anyway), which are monotonously repetitive C) If you still don't understand the difference between P2P companies and bridge lenders then frankly I guess you never will. By "social lending" I assume you mean using money borrowed from some people to fund loans made to other people? In which case, presumably banks and building societies (many of whom, by the way, compete with BC/Somo for bridge lending) also wind you up? A/ Sorry and I meant 9 posts in this thread. B/ Frankly, as repetitive as stating how great it is each time a new loan gets repaid ? Maybe....but certainly not as frequent. C/ Yes I must just be that thick mustn't I ? Are you currently invested or do you prefer not to say ?
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SteveT
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Post by SteveT on Jul 4, 2022 13:11:09 GMT
Are you currently invested or do you prefer not to say ? Yes, I continue actively to invest with BC/Somo and have done for many years. See also the PS to my post above. If you have something useful to contribute to discussion of BC/Somo loans here then by all means do so. But if you've exited, as you say you have, then please stop criticising others for posting and sharing information.
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Greenwood2
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Post by Greenwood2 on Jul 4, 2022 13:16:17 GMT
A) I don't know which 9 threads you mean , but I've also seen posts in recent months about some of BC/Somo's long-running defaulted loans (eg. the Scottish land, the Welsh holiday homes). B) Because I've been a member of this forum a very long time and sadly have read all of your posts (on the BC/Somo board, anyway), which are monotonously repetitive C) If you still don't understand the difference between P2P companies and bridge lenders then frankly I guess you never will. By "social lending" I assume you mean using money borrowed from some people to fund loans made to other people? In which case, presumably banks and building societies (many of whom, by the way, compete with BC/Somo for bridge lending) also wind you up? A/ Sorry and I meant 9 posts in this thread. B/ Frankly, as repetitive as stating how great it is each time a new loan gets repaid ? Maybe....but certainly not as frequent.C/ Yes I must just be that thick mustn't I ? Are you currently invested or do you prefer not to say ? There have been an awful lot more normal loans repaid, the only ones I have mentioned are late loans (actually very late loans of mine) that have fully repaid, since this is a thread about Somo's record, these are important in showing that good recoveries are taking place regularly. Probably of no interest to you now.
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