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Post by overthehill on May 30, 2023 18:23:07 GMT
Wow, the “1st Charge Barnoldswick (8010286828)” loan recovered in full, plus 22.8% interest
Not 22.8% pa but 22.8% since the borrower stopped paying interest many years ago.
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agent69
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Post by agent69 on May 30, 2023 19:03:10 GMT
Wow, the “1st Charge Barnoldswick (8010286828)” loan recovered in full, plus 22.8% interest £50 capital and £11.40 interest returned. Happy days.
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Post by martin44 on May 30, 2023 19:05:08 GMT
<fainted>
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adrian77
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Post by adrian77 on May 31, 2023 8:10:40 GMT
Blimey!
funny old game this one - well I got that 100% wrong but pleased for the investors - will update my FA
list when I get time
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Post by beepbeepimajeep on May 31, 2023 9:12:51 GMT
Wow, the “1st Charge Barnoldswick (8010286828)” loan recovered in full, plus 22.8% interest £50 capital and £11.40 interest returned. Happy days. I can confirm this is because I was not in that loan.
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spareapennyor2
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Post by spareapennyor2 on May 31, 2023 9:33:16 GMT
adrian77half right/wrong no return on (2861004433)
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adrian77
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Post by adrian77 on May 31, 2023 10:54:01 GMT
This is what I wrote ages ago
So can you confirm 188K loan was a complete loss all of the 587k was recovered so I was 80K out there - to be honest I am surprised they got what they did although it is a nice area - I guess they rolled it over to another p2p company,,,
how the hell can anybody with 1/2 brain lose 80K in the property market with the quoted LTV?
Whatever pleased for the 1st charge holders maybe I should have kept my initial investment!
I thank you
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IFISAcava
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Post by IFISAcava on May 31, 2023 13:59:04 GMT
Wow, the “1st Charge Barnoldswick (8010286828)” loan recovered in full, plus 22.8% interest Sadly I am in the B********ck one where they somehow forgot to put the first charge in place. When they were solvent they said they would stand behind it anyway, but that is obviously irrelevant now. Anyway, and more fortunately, that's the last £50 I have there. My final FS figures aren't terrible even writing off that £50. ISA Interest earned £673.56 Other earnings £0.00 Capital loss £-427.37 Secondary market (net) £914.56 Total £1,160.75 non-ISA (closed when ISA opened up) Interest earned £54.94 Other earnings £26.00 Capital loss £0.00 Secondary market (net) £666.08 Total £747.02
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Post by beepbeepimajeep on May 31, 2023 14:22:17 GMT
I THINK I will be at a capital loss when all is said and done at Funding Secure, but not for a large amount. Collateral and MoneyThing likely to be a lot worse for me.
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agent69
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Post by agent69 on May 31, 2023 14:39:11 GMT
£50 capital and £11.40 interest returned. Happy days. I can confirm this is because I was not in that loan. When I said returned I meant credited to my FS account. Obviously haven't been able to withdraw it yet.
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SteveT
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Post by SteveT on Jun 1, 2023 12:13:26 GMT
Wow, the “1st Charge Barnoldswick (8010286828)” loan recovered in full, plus 22.8% interest Hmmm, spoke too soon ... 1st Charge Barnoldswick - Loan Update
Loan Reference: 8010286828
An update has just been added to a loan that you have an investment in.
UPDATE:
An issue has been raised by an investor which needs to be investigated before we are able to allow withdrawals to commence on this loan. Your balance will shortly be adjusted to exclude this loan. A further update will be posted as soon as possibleIs this perhaps in relation to the "other" Barnoldswick loan (2861004433, I think, but which I'm not in; were they to the same borrower?) where I read that some sort of informal guarantee was given to lenders that the "1st charge would be honoured" even though FS failed to register it properly? If so, I cannot see how any funds from 8010286828 can / should be diverted to it.
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jaswells
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Post by jaswells on Jun 1, 2023 12:16:29 GMT
This was the one decent outcome from the sorry mess. Unbelievable.
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merlin99
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Post by merlin99 on Jun 1, 2023 13:45:14 GMT
Just had an email telling me that some time in the future I may get back about £4k, which is only slightly more than 10% of what is owed to me by way of capital and interest. Doubt somehow there will be any more to come! Biggest loss by far is on the dreaded boats.
By the way I have always been a supporter of hanging!!
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Post by stankroenke1 on Jun 1, 2023 13:50:28 GMT
Im hearing all loan payments have been suspended(because of the above), can anyone confirm ?
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baldpate
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Post by baldpate on Jun 1, 2023 14:18:53 GMT
Wow, the “1st Charge Barnoldswick (8010286828)” loan recovered in full, plus 22.8% interest Hmmm, spoke too soon ... 1st Charge Barnoldswick - Loan Update
Loan Reference: 8010286828
An update has just been added to a loan that you have an investment in.
UPDATE:
An issue has been raised by an investor which needs to be investigated before we are able to allow withdrawals to commence on this loan. Your balance will shortly be adjusted to exclude this loan. A further update will be posted as soon as possibleIs this perhaps in relation to the "other" Barnoldswick loan (2861004433, I think, but which I'm not in; were they to the same borrower?) where I read that some sort of informal guarantee was given to lenders that the "1st charge would be honoured" even though FS failed to register it properly? If so, I cannot see how any funds from 8010286828 can / should be diverted to it. If you look at the 'General information' tab of the Loan Overview for 8010286828, you will find mention of a 2nd charge loan #2861004433 against the same property; and if you look at the breakdown tabulation posted on 30th May in the 'Loan updates' tab, you will see at the bottom it says "No return 2861004433" - just as you might expect if returns were insufficient to repay all capital and interest to 1st charge lenders.
I think it likely that the issue being raised by an investor is more likely a challenge to the 'zero return' status of this related loan #2861004433, rather than having to do with the entirely separate loan #1079396222 (the one over a completely different property, where the charge was not perfected, and where FS said they would "stand behind this loan and repay all investors")
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