Godanubis
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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 May 10, 2019 19:42:43 GMT
*Roulette wheels are subject of enormous scrutiny and conform prettty well to predicted outcoms like FS loan parts identify an atypical pattern and things have to fall back into place and you have an opportunity to take advantage.
With regard to the loans mentioned I completely agree there will be a large loss the overall effect on the platform returns will however be minimal.
I am by no means rich. I have just put aside a little over a long time. Every penny was earned and saved prudently rather than non productivley spent. ** This now allows my indulgences such as FS. I still apply my lifelong attitude of fact based investment.
* godanalubis - you must be a riot at parties. Lol. Are you going to report me to the mods again. Awww, diddums. ** I hope when Im in my dotage my indulgencies doesnt include me blowing my wealth on half-arsed bets on a bunch of shysters and con artists. Oh no, beg my pardon: what was that? Only ever 1% per loan or some such hogwash. Honestly. Keep bleeting. "report me to the mods again. ? I'm a grown up not a Snowflake I don't report anyone. Quite a few platforms with auto invest restrict you or suggest a max of 1% so not hogwash. So specifically call someone a "shysters " here then without foundation and I'm sure their lawyers will be happy to correct you. With age comes wisdom. Pity there will be no planet left for you to enjoy it was nice while it lasted. As a wise species said "Thanks for all the fish"
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adrian77
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Post by adrian77 on May 13, 2019 7:56:22 GMT
Hopefully we will get an update today as the auction company are due to have been paid by now. The poll's highest result of 7/19 voters is for net proceeds of £20-£50K which considering the loan was for £231K will not be a very good result if correct not least for the 2nd and 3rd charge holders! I would wager this is going to be a massive loss for the first charge and a 100% loss for the 2nd and 3rd charges will be 100% loss no 4 and no 5. I really don't know this market but I just can't see 2 gloried sheds realising over £231K net...
I was in the £20-£50K band but for my fellow investors I really hope this is too pessimistic - come on FS prove me wrong - we are all ears.
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adrian77
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Post by adrian77 on May 19, 2019 13:22:07 GMT
Well at least it looks as if these 2 have sold - question is for how much?
Bit puzzled why this talks about receipt of funds as the auction house had a clear payment deadline for the 10th - maybe they are still waiting for payment?
Note for electronic diary - expect wonderful news on this one about 10th June...
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09dolphin
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Post by 09dolphin on May 19, 2019 16:45:53 GMT
When I was in business the mantra I had drummed into me by my family was to under promise and over deliver. This meant we should promise less than what we knew we could deliver but give ourselves one or a few extra days so the customer was NEVER disappointed by the service we promised and provided. On the whole this mantra has been successful for over 60 years and I hope it continues to be successful for many more years. Yes providing a quality service does cost but it's less than .03% on our margins and we have a very happy customer base that is loyal and continues to expand. We actually have a member of staff dedicated to sorting out any problems for our customers but they have other responsibilities as they are underemployed in their primary role although they also sort out problems created by our suppliers and this adds another 0.05% to our costs.
It seems to me that FS have stood the principles of "good service" on their heads and their mantra is to overpromise and underdeliver. Perhaps FS would like to commission someone to teach their senior and middle management what "service" actually means as they obviously don't know - but I think it is too late to retrieve their situation.
Perhaps FS were attempting a social experiment and wanted to see how far they can push poor or abysmal service before the company ceases to be viable. If so I would suggest their experiment is about to come to an end.
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Godanubis
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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 May 19, 2019 23:00:18 GMT
When I was in business the mantra I had drummed into me by my family was to under promise and over deliver. This meant we should promise less than what we knew we could deliver but give ourselves one or a few extra days so the customer was NEVER disappointed by the service we promised and provided. On the whole this mantra has been successful for over 60 years and I hope it continues to be successful for many more years. Yes providing a quality service does cost but it's less than .03% on our margins and we have a very happy customer base that is loyal and continues to expand. We actually have a member of staff dedicated to sorting out any problems for our customers but they have other responsibilities as they are underemployed in their primary role although they also sort out problems created by our suppliers and this adds another 0.05% to our costs. It seems to me that FS have stood the principles of "good service" on their heads and their mantra is to overpromise and underdeliver. Perhaps FS would like to commission someone to teach their senior and middle management what "service" actually means as they obviously don't know - but I think it is too late to retrieve their situation. Perhaps FS were attempting a social experiment and wanted to see how far they can push poor or abysmal service before the company ceases to be viable. If so I would suggest their experiment is about to come to an end. That Strategy always worked for Scotty on Star Trek. I was hoping they would break them up and distribute pro rata. I could use the bathroom from one as a new ensuite
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adrian77
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Post by adrian77 on May 24, 2019 7:54:17 GMT
Still no update- I don't think this is acceptable customer "service"
The auction house was due to have received the funds a fortnight ago - I am beginning to wonder something is not right here. Either funds have been received by the auction house or they haven't. If I were FS I would post an honest and meaningful update e.g. sheds mobile homes sold but awaiting payment from buyer or funds received by auction house of X amount and waiting for transfer on expected date mm/yy.
If we don't get a proper update by this time next week I am going to be seriously worried these damn things have not sold so FS we are all ears (ok eyes)...
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Post by spareapennyor2 on May 24, 2019 9:09:15 GMT
Still no update- I don't think this is acceptable customer "service" The auction house was due to have received the funds a fortnight ago - I am beginning to wonder something is not right here. Either funds have been received by the auction house or they haven't. If I were FS I would post an honest and meaningful update e.g. sheds mobile homes sold but awaiting payment from buyer or funds received by auction house of X amount and waiting for transfer on expected date mm/yy. If we don't get a proper update by this time next week I am going to be seriously worried these damn things have not sold so FS we are all ears (ok eyes)... would like that on any update forever stagnant
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adrian77
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Post by adrian77 on May 30, 2019 10:44:23 GMT
It is now 20 days since payment was due for these sheds mobile homes and nearly a month since they went to auction.
Either the auction house has received payment or it hasn't - either way I don't think no update is acceptable. If monies have been received then FS can at least indicate what they went for and the likely fees - I am sure some of us are positively itching to know! If we don't get an update before the end of this Sunday I am going to wonder if the pollster who voted <£500 was correct. I really hope he/she is incorrect...
If we don't get an update next week I am going to be really worried.
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pip
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Post by pip on May 30, 2019 11:55:49 GMT
It is now 20 days since payment was due for these sheds mobile homes and nearly a month since they went to auction. Either the auction house has received payment or it hasn't - either way I don't think no update is acceptable. If monies have been received then FS can at least indicate what they went for and the likely fees - I am sure some of us are positively itching to know! If we don't get an update before the end of this Sunday I am going to wonder if the pollster who voted <£500 was correct. I really hope he/she is incorrect... If we don't get an update next week I am going to be really worried. Totally agree, provide us an update one way or another. I didn't want to influence the vote, but I thought some of the responses in the poll were very hopeful. I just can't see some random park homes sold through a general auction house would have got that much. Also suspect the receiver, auction house and transportation fees have eaten a fair bit of any proceeds. I am not hopeful at all.
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adrian77
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Post by adrian77 on May 30, 2019 12:07:12 GMT
I don't know but I looked into the transportation - I think these are very large and more importantly abnormally wide units which means a special permit, specialist transport company to move them and a pilot car and I guess special insurance for the road journey.
Be interested to see what they actually cost to transport but a bit more than hiring a trailer to hitch to the family car!
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coop
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Post by coop on Jun 6, 2019 14:18:14 GMT
Have they still not released the funds for these? Or announced how much the return will be?
Christ alive these guys are slow
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james21
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Post by james21 on Jun 6, 2019 14:34:13 GMT
Have they still not released the funds for these? Or announced how much the return will be? Christ alive these guys are slow I dont think we will hear anything prior to the point of repayment like The D***. Slow certainly except when it comes to putting up new loans and they are fast at that, its their priority
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r1200gs
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Post by r1200gs on Jun 6, 2019 14:49:23 GMT
Yup, still shovelling out investors money on an industrial scale. It's perfectly clear now that much of it is not coming back.
Anybody still investing in 70 percent plus LTV loans that rank behind another loan?
Fools and their money are easily parted, and sadly that includes me.
Or did.
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p2pstephan
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Post by p2pstephan on Jun 6, 2019 15:27:25 GMT
Yup, still shovelling out investors money on an industrial scale. It's perfectly clear now that much of it is not coming back. Anybody still investing in 70 percent plus LTV loans that rank behind another loan? Fools and their money are easily parted, and sadly that includes me. Or did. Yep they still are "West Bromwich Supplement T7" Ranks behind and is (Accumulated LTV - 73%) . Launched today and 76% full and filling fast.
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arby
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Post by arby on Jun 6, 2019 15:40:20 GMT
Yup, still shovelling out investors money on an industrial scale. It's perfectly clear now that much of it is not coming back. Anybody still investing in 70 percent plus LTV loans that rank behind another loan? Fools and their money are easily parted, and sadly that includes me. Or did. Yep they still are "West Bromwich Supplement T7" Ranks behind and is (Accumulated LTV - 73%) . Launched today and 76% full and filling fast. It's not for me, but surely you must admit the risk of a supemental loan to put the finishing touches on a development is very different to one that is issued while the ground is still being cleared and planning sought (thinking of this morning's bad result). Providing one assesses the risk and is happy with the risk of wipe out present in a second charge then there's no issue with it. I believe a number of us did very well from a recent second charge in Brighton on a bog standard house (just to demonstrate the other end of the risk spectrum)
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