andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Funding Circle (FC)
E-Alert!
Apr 21, 2017 13:41:21 GMT
dan1 likes this
Post by andyp on Apr 21, 2017 13:41:21 GMT
E-alert 35895 £126K 34% gone in 6 minutes!
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 15, 2017 20:51:33 GMT
What have I told you about exaggerating!
FC - the 2017 "Superbrand" where repayments and enforcement on a 9 8 month short term secured loan just does not happen.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 10, 2017 16:18:10 GMT
I guess the next question is which, if any, site would people recommend as an alternate venue with good deal flow and liquidity for property lending?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 22, 2017 15:05:03 GMT
That wouldn't be enough, in my case they refused to accept multiple documents proving my position as company secretary, resignation of my predecessor etc, etc and all those documents were lodged 12-18 months ago with Companies House - that wasn't good enough. They just don't know what they want or need.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 22, 2017 14:59:33 GMT
Yes but even if the guy doesn't get planning permission the value of the loan is only 80% of the valuation of the two existing properties which could be sold in worst case. Somewhat more secure than the average C loan backed by a frequently valueless personal guarantee.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 22, 2017 14:34:19 GMT
Is this the first C grade property loan? Short Term Property Loan Drayton 1 (34565) replacing A grade Portsmouth loan - it's only 40 days late which is nothing for FC!
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 15, 2017 18:44:30 GMT
I don't know whether to be pleased or worried by this announcement on the summary page.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 10, 2017 17:39:35 GMT
The hamster needs some Peruvian marching powder.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 10, 2017 17:10:16 GMT
The site is moving at glacial pace when viewed from Yorkshire. I suspect that over-vigorous salsa sessions this afternoon probably dislodged the 16K RAM pack from the back of FC's server. (one for the kids there )
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 8, 2017 19:41:28 GMT
Like you I find the current rate unappealing and look forward to getting 12% on some current tranches for a while yet.
I thought it best to flag the track record (these current late loans were already a refinance of earlier late loans) to the unwary investor by asking a pertinent question of the borrower which inevitably won't get answered.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 7, 2017 13:44:14 GMT
Time to get a new pack of Post-It notes for the IT dept. Then again maybe that's the problem, perhaps the Post-It strategy wall has been disrupted by a rogue desk fan?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 7, 2017 0:49:29 GMT
I agree with Voss, life was hell before FCViz.
I wonder how many post it notes Lonerifle relies upon to surpass the FC monolith? That man/woman is a hero, treated like the rest of us, with borderline toleration/contempt by FC.
As for all those post-it notes; should one really base an IT strategy on a methodology which can be outwitted by a simple desk fan?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 6, 2017 20:55:40 GMT
It's publicly available information that does not name the borrower or even leave much of a trail of breadcrumbs to follow to get to them. But even if you think I shouldn't have named the appointed practitioners, why is it such a state secret what company is handling it?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 6, 2017 20:41:54 GMT
And there was me thinking agile development was when a property developer legs it without repaying their loan!
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 6, 2017 20:11:14 GMT
I like the second picture, who'd have thought an IT based company would have such comprehensive usage of post-it notes!
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