benaj
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Post by benaj on Mar 27, 2019 12:27:30 GMT
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Post by charliebrown on Mar 28, 2019 5:00:36 GMT
Supposed to be 27% LTV and yet we don’t seem confident of a recovery. To be honest, me too. I can’t see anyone paying 250k for a needle. Looking back on the rubbish I’ve “invested” in I really don’t know what planet I was on when I clicked that mouse.
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kielbasa
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Post by kielbasa on Mar 28, 2019 7:26:26 GMT
Supposed to be 27% LTV and yet we don’t seem confident of a recovery. To be honest, me too. I can’t see anyone paying 250k for a needle. Looking back on the rubbish I’ve “invested” in I really don’t know what planet I was on when I clicked that mouse. Based on the November 2016 auction results, it seems people are not willing to pay even £10k for a needle.
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coop
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Post by coop on Mar 28, 2019 10:46:48 GMT
Yeh I wish as it stands 2.5K loss in a £20k investment my worst performing P2P Diversify that would never happen. You would only have 1% in any single loan. My Actual declared complete losses on FS <£1500 on £200k+ With interest of over £30000 been paid Wow you're such a smart guy I bet he wishes he was as clever as you and nothing bad would ever have happened to him!
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coop
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Post by coop on Mar 28, 2019 10:48:19 GMT
"What Anthony or the boot fair seller obviously didn't know was that the full-stop size models were worth £165,000 - each." lolololololololol
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Mar 28, 2019 20:05:22 GMT
Diversify that would never happen. You would only have 1% in any single loan. My Actual declared complete losses on FS <£1500 on £200k+ With interest of over £30000 been paid Wow you're such a smart guy I bet he wishes he was as clever as you and nothing bad would ever have happened to him! Just takes reading "making investmest 101 " or listen to mother re. Eggs and baskets
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mjc
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Post by mjc on Mar 28, 2019 21:57:24 GMT
Wow you're such a smart guy I bet he wishes he was as clever as you and nothing bad would ever have happened to him! Just takes reading "making investmest 101 " or listen to mother re. Eggs and baskets So you diversify and invest in everyone of fundingsecure ‘s bum loans and still find every egg is smashed. What a farce.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Mar 28, 2019 22:22:44 GMT
Just takes reading "making investmest 101 " or listen to mother re. Eggs and baskets So you diversify and invest in everyone of fundingsecure ‘s bum loans and still find every egg is smashed. What a farce. Forgot to add sell before they mature and pick loans after DD they only have 6.5% loss rate overall
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mjc
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Post by mjc on Mar 29, 2019 11:47:31 GMT
So you diversify and invest in everyone of fundingsecure ‘s bum loans and still find every egg is smashed. What a farce. Forgot to add sell before they mature and pick loans after DD they only have 6.5% loss rate overall And if everyone sold their FarceunSecured loans before maturity......... who to bit of a Pyramid of loans.
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coop
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Post by coop on Mar 29, 2019 15:06:49 GMT
Forgot to add sell before they mature and pick loans after DD they only have 6.5% loss rate overall And if everyone sold their FarceunSecured loans before maturity......... who to bit of a Pyramid of loans. I have heard pyramid schemes are making a comeback with gullible youngsters thanks to social media so maybe it will work!!!
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Mar 29, 2019 15:18:31 GMT
And if everyone sold their FarceunSecured loans before maturity......... who to bit of a Pyramid of loans. I have heard pyramid schemes are making a comeback with gullible youngsters thanks to social media so maybe it will work!!! It’s just a matter of what risks you wish to apply I still buy 20%+ loan parts and even with failure manage 15%+ . I just limit the % in each to way less than 1% for any I hold. It takes work like everything else. Effort = reward
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rogerthat
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Post by rogerthat on Aug 15, 2019 11:59:40 GMT
13/08/2019 Due to the specialist nature of the assets we are still investigating the best option to maximise recovery. An update will be available by end August
26/03/2019 After discussion with several auction houses, it has been decided to delay the sale, as it was felt that a more specialised auction would be preferable. An update will be provided once the suitable auction has been decided upon.
22/01/2019 We have not heard any further news from the borrower about an alternative plan, so we have now decided to default the loan and sell. After making enquiries with both dealers and auction houses, we have decided to enter these items into sale with a London based auction company with the sale date expected to be during April.
Once the sale date has been confirmed, we will update this information to investors.
So..7 months after deciding to default the loan, FS are 'still investigating' the best option. If the valuation was remotely accurate @ ~£900K (pause) and the loan was 'only' £250K why don't FS just get on and auction the things and come to an agreement with the borrower to make up any shortfall ?..these 11 items are allegedly part of a larger collection of 39 'valued' at £3m + @ LTV 27.78%. 2 years down the road even with interest of £100K ?..surely there's still room for manoeuvre. 18 months of one excuse after another from FS..why is it the tail always seems to be wagging the dog ?
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r1200gs
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Post by r1200gs on Aug 16, 2019 7:16:40 GMT
13/08/2019 Due to the specialist nature of the assets we are still investigating the best option to maximise recovery. An update will be available by end August 26/03/2019 After discussion with several auction houses, it has been decided to delay the sale, as it was felt that a more specialised auction would be preferable. An update will be provided once the suitable auction has been decided upon. 22/01/2019 We have not heard any further news from the borrower about an alternative plan, so we have now decided to default the loan and sell. After making enquiries with both dealers and auction houses, we have decided to enter these items into sale with a London based auction company with the sale date expected to be during April. Once the sale date has been confirmed, we will update this information to investors. So..7 months after deciding to default the loan, FS are 'still investigating' the best option. If the valuation was remotely accurate @ ~£900K (pause) and the loan was 'only' £250K why don't FS just get on and auction the things and come to an agreement with the borrower to make up any shortfall ?..these 11 items are allegedly part of a larger collection of 39 'valued' at £3m + @ LTV 27.78%. 2 years down the road even with interest of £100K ?..surely there's still room for manoeuvre. 18 months of one excuse after another from FS..why is it the tail always seems to be wagging the dog ? I suspect FS are actually looking to reduce lender losses rather than maximise recovery, there being a slight difference between the two. We need a new thread, how long before FS throw in the towel because they have run out of people that like to lose money with them? This is just another example of them staving off the inevitable really.
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benaj
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Post by benaj on Aug 16, 2019 8:11:01 GMT
This loan is special.
What happened to the "property" after 2 years? and who is the actual borrower? I can't just assume it's the artist
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nyneil
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Post by nyneil on Aug 16, 2019 9:45:13 GMT
"before being returned to our secure vault." Well at least they 'appear' to have possession of the items, unlike some other loans we like to chat about
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