andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 4, 2017 18:02:02 GMT
It's always next week, next weeks next week will be the next week!
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 27, 2017 13:17:18 GMT
I can understand the reticence in funding 8% and 9% property loans that aren't squeaky clean and I think that is going to be exacerbated as the week goes on. Looking through my loan comments we have 3 series of delinquent 10% loans that are due to refinance next week and which one would expect to be at least 10% and perhaps more. They are
Borehamwood 146 days late £1.396m
West Molesey 2 40 days late £233k
Cheshire 75 days late £2.466m (itself a refinance of previously overdue loans by a company that also had a series of late Blackpool loans last year)
That's £4.1m of original loans, plus the overdue interest at 12%, plus the rolled up interest on the new loans less any equity injections (we are promised an unspecified one for Borehamwood). I can't be @rsed doing the maths but that must be north of £4.5m.
Why take 8/9% when there are probably be a dozen or more loans at 10% or more on the horizon? Perhaps it's time to break out the cashback?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 22, 2017 14:41:34 GMT
You can now see your exposure again in the loan parts section. It only shows to one decimal point though, eg £120.0 I only hold property loan parts which are in £20 blocks so I don't know if SME loan parts that should show the pennies are showing correctly.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 22, 2017 14:36:22 GMT
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 22, 2017 11:14:29 GMT
Not according to Companies House
Accounts
Next accounts made up to 31 December 2016 due by 30 September 2017
Last accounts made up to 31 December 2015
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 16, 2017 16:25:21 GMT
And now ladies and gentlemen, I give you Finally Collapsed's first property default. It's only 309 days overdue too!
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 11, 2017 10:54:01 GMT
Bummer. When did the refer a friend scheme change to a £25 John Lewis voucher? And the page looks incomplete as I don't even see a form to complete. Also, the offers page still shows £50. If you look closely you will see that ad expired 29 February 2012
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 10, 2017 17:51:45 GMT
Perhaps, and others will be buying them up in the hope of getting an extra 2% for a month or two. Who is the gambler?
We all have to pick a strategy we are comfortable with, but if you stick to property loans my feeling is there will be a lot less stress than with SME loans backed by bog paper guarantees. Just my two penneth, DYOR etc..
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 10, 2017 14:30:33 GMT
Too late they've pulled the SM parts
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 10, 2017 14:28:26 GMT
Confirmation that we'll get a full month interest on 32365, even though they moderated the bit of my question on 32482 where I described the relisting as a dogs-breakfast personally I thought that to be rather mild criticism of an utter shambles!
Also from the questions on 32482
There are currently loans still available on the SM at 0.2% premium, so after fees there's a theoretical 0.3% return available on them if FC don't renege on their assurances. Unfortunately I only have £5 free funds so can't check
Do you feel lucky ?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 10, 2017 11:59:27 GMT
You couldn't make it up
Property Development in Uxbridge 1 32365 was wrongly graded A+ not A
There is a new listing 32482 also called Property Development in Uxbridge 1 which will repay 32365. - and people are still able to buy loan parts 32365 on the SM!
Do you think I'll get a full months interest on my 32365 loan part?
From 32482 report...
One has to admire FC's laser like attention to detail and the way they always strive for clarity on behalf of investors
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Feb 3, 2017 15:44:14 GMT
I sincerly hope I never meet any of those people for real... I somehow suspect that they harbour similar feelings
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Jan 16, 2017 17:10:55 GMT
I'm probably marked down as a moaner by many FC followers but I prefer to think of myself offering constructive criticism.
I stick to property loans so the rebanding has had minimal impact on me. I was amazed that people were willing to invest at the old rates let alone the new ones, rubbish returns and negligable security. Give me a building or land that has a legal charge over it any day.
I'm pretty happy at present and increasing the funds invested. After a year or so of lender pressure, FC have shown signs of upping their game with regards to property. They are now automatically adding 2% to rates the moment a loan goes overdue and in one case (Borehamwood) got the borrower to cough up some interim interest. They are also showing signs of anticipating delays ahead of time rather than being surprised when the loan repayment doesn't appear. They are by no means perfect but things seem to be progressing in the right direction.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Jan 16, 2017 14:31:08 GMT
They all went to the pub at 2.30 Friday, there was a note on the login page. I guess they have to spend the latest $100m somewhere!
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Jan 6, 2017 16:05:41 GMT
It seems the equity injection is still proving difficult according to todays update. On a positive note FC have seemingly changed policy...
A victory for the whingers I feel.
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