andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Dec 29, 2016 17:25:08 GMT
Amazingly 30412 pulled in over £100k in less than 4 hours and is now fully filled. That is despite spending 5 days crawling to 44%. Methinks that lots of autobiddies will have just acquired this miraculously uprated loan.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Dec 13, 2016 13:04:46 GMT
Well the great day has finally come and the first tranche of these 8 month London loans is now 8 months late. The other 4 tranches will surely follow in the next few days. To add insult the final month of normal interest has not yet been paid, so it is now 9 months since we have received a penny.
Is this a record for P2P lending that has not been defaulted?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
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Post by andyp on Dec 6, 2016 20:28:00 GMT
Agreed, I was taking that as read, given the title of the thread. As far as I'm aware it is all the interest only property loans and not commercial mortgages, which are treated like standard SME loans. They may mean something else, but FC's policy of using psychic transfer for such information means it is hard to be definitive.
Quite why it should be the likes of you, me and other forum users to extract and communicate this stuff is another matter. It is frankly a poor reflection on their communication team.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Dec 6, 2016 19:04:27 GMT
I think the only thing that could be considered groundbreaking (in FC terms anyway) is not specifically contained in the document. It is the fact that the 2% penalty will apply to all loans that go over term. Unless you were scouring the FC forums you wouldn't know it, but in the thread on the late Borehamwood loans thread they answered a question I had raised and confirmed the following...
Having banged on about this on their forum I am pleased that common sense is beginning to prevail. Hopefully this will act to make borrowers think more carefully about neglecting their contracted terms as well as rewarding lenders when they don't get paid on time.
In true FC manner though, the bit about updating existing late loan comments has not come to pass uniformly. I hold a Malvern loan which is 54 days late and has no comment about any additional 2%. I'm guessing there are probably others.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Funding Circle (FC)
Bots
Nov 3, 2016 17:52:40 GMT
Post by andyp on Nov 3, 2016 17:52:40 GMT
Failing Computing seem to have screwed up their loan parts screen and nothing can be purchased at present, but loan parts can still be listed. There seems to be a building logjam of par priced loan parts. Does that mean that all bots will go bananas and explode like a dalek that's had a coat thrown over it?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Oct 20, 2016 20:05:29 GMT
Hi James
It will be nice to see a journalist shine a light on FC, something to look forward to. When you do perhaps you could post a copy on here so it can be seen by us tightwads who won't shell out for a peek through Ruperts paywall?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Oct 3, 2016 13:54:50 GMT
Manchester 20320 (4 month £264k) is the record holder in percentage terms, 103 days late on a 122 day loan = 84.4% over-run
London 14978 (8 month £350k) is the winner on a time basis, 173 days late on a 244 day loan = 70.9% over-run
The London borrower does however get the prize for chutzpah as they also have...
London 2 15010 (8 month £350k) 172 days late London 3 15064 (8 month £350k) 162 days late London 4 15241 (8 month £350k) 159 days late London 5 15351 (8 month £200k) 155 days late
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Aug 6, 2016 18:11:44 GMT
Thats optimistic, Failing Customers have posted in their comments that this may take up to a month. Truly inspiring.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Jun 6, 2016 19:34:26 GMT
Young Jack has just posted a link to a blogpost on the changes. I hope this doesn't break any forum rules link to FC term change blogpostI can't work out if this is their clumsy attempt at addressing late property loans or not and have asked for more explanation (never their strongpoint!)
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Jun 1, 2016 20:46:03 GMT
I seem to have avoided Bilston for some reason.
South London is not exceptional at that length, in my bakers dozen I have
Hammersmith 3 (11534) — 49 days late, South London (12170) — 49 days late, London 1 (14978) — 49 days late, London 2 (15010) — 48 days late,
It's Hammersmith that really pees me off, 7.5% interest extended by FC for two months with no consultation or penalty to borrower. According to the last note (1st April!!) it is expected to repay tomorrow. What do we think the chances of that happening are?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Jun 1, 2016 10:39:39 GMT
RFT = Right Fifth Time
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Jun 1, 2016 10:38:15 GMT
Grahamg's 9 late property loans is a large number - but is it a record? Can anyone do better? or worse I suppose. Different tranches of the same project count, and late means not repaid on the due date and still outstanding in whole or part. I can top that with 13 late loans if you include Croydon which is due today but not paid, without Croydon it would be 12. I don't feel worried about getting repaid, I still think that property loans are far safer than flaky C/D/E supported by little more than an Andrex Director guarantee. I'm running an annualised return after fees of 10.5% with no losses. What does brass me off is that FC do not normally impose any penalty. They should just up the interest rate by 20% (10% to 12%, not 10% to 30%!), instead they seem happy to make excuses for borrowers bad planning/organisation/deliberate actions.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Funding Circle (FC)
E-Alert!
May 20, 2016 13:05:58 GMT
Post by andyp on May 20, 2016 13:05:58 GMT
There is a very large E loan available - I suspect it'll be hanging around for a few days. Biggest I can remember seeing! A few days? A few hours more like, it's 49% filled in the first hour. Better get a move on if E's are good for you.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 30, 2016 12:41:10 GMT
lunchtime and early afternoon on workdays, seem most popular, I think they spend the mornings proof-reading the listings. If you are looking for new listings, if it's not there now you can turn your PC off until Tuesday lunchtime.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 29, 2016 9:16:43 GMT
Perhaps your discrepency may be related to this message that has appeared on the summary page this morning
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