daveb4
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Post by daveb4 on Jun 23, 2023 13:46:32 GMT
Requested mine we will see when turns up
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daveb4
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Post by daveb4 on Nov 7, 2022 10:23:49 GMT
I was advised by phone that if the cash is not raised they will continue to endeavour to sell properties until there is not a deficit and/or more unlikely to close that property down.
So debatably;
Put equity raise in the properties which will continue to be rented and you keep your current percentage with the hope of future property dividends followed by sale profits/losses upon annual reviews.
Don't put the equity fundraise in and not enough is raised for the properties and they will continue to be sold to cover the negative position (which in most cases they are already trying to do). The risk here though is if they do though raise enough cash you obviously take the risk of diluted funds when the properties are finally sold sometime in the future.
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daveb4
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Post by daveb4 on Nov 1, 2022 12:07:04 GMT
I am awaiting a call back to discuss as could not get through on the phone.
What if fund raise does not acquire anything or minimal amount? Bearing in mind the present 14 of my 18 properties are sitting on losses with 4 going through fund raise what are they contributing to the horrendous position? and finally how has a property portfolio like this managed to have most of their properties with an overall minimal percentage of dividends over the course of last 6 odd years and sitting on losses which are exaggerated further if you sell on secondary market.
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daveb4
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Post by daveb4 on May 5, 2021 17:28:03 GMT
Hi Duck happy to assist if you wish to send me the details
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daveb4
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Post by daveb4 on Jul 24, 2020 17:10:33 GMT
You can definitely go back asking for a review from the ombudsman BUT you need to force the issues you disagree with AND ideally come up with some new points. Quite a few decisions get upheld but it would set a precedent if yours is upheld and they do not like to do that.
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daveb4
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Post by daveb4 on Mar 15, 2020 6:15:42 GMT
After being a business bank manager through 2008, I hope a number of our P2P businesses have or will pick up the phone to their banks to ask them how they can assist them. The vast majority of banks now have proactively been told to help whether it be extensions to overdrafts or funding. Some will be better than others obviously. From my friends still working with businesses, they are looking forward to being busy so they can hit their 'lending requirements'.
I just hope it works better than last time as in most cases then it was too late.
I appreciate this will not be applicable to all businesses in various ways BUT for the businesses we invest in, the platforms and ourselves anything can help.
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daveb4
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Post by daveb4 on Feb 27, 2020 6:19:21 GMT
Following all the rules and regulations that they have to do to keep authorisation of the FCA 😀
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daveb4
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Post by daveb4 on Feb 13, 2020 11:35:47 GMT
I hope we get some move forward here. How I let this loan allow me to place more into it than any other over 5 years of p2p lending? What a numpty😣 If your exposure is down to holdings in GBBA etc, then it's entirely down to AC's diversification algorithm not diversifying. AC have massive exposure to legitimate complaints on this front, and they know it. Absolutely unfortunately as funds went into GBBA I should have reduced manual side. Just got greedy? Awaiting to see the next move, if what they say comes to fruition within a reasonable timescale I would be happy
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daveb4
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Post by daveb4 on Feb 13, 2020 6:48:12 GMT
I hope we get some move forward here. How I let this loan allow me to place more into it than any other over 5 years of p2p lending? What a numpty😣
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daveb4
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Post by daveb4 on Feb 6, 2020 20:32:42 GMT
If investing do so over time with a number of lump sums as improves spread of loans and lower percentage in each loan
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daveb4
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Post by daveb4 on Oct 24, 2019 5:29:19 GMT
Difficulty here is regularly naming platforms can and will bring some of them down. I understand it probably is their fault but these sort of polls do not really help. They should be more around who is good.
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daveb4
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Post by daveb4 on Sept 5, 2019 10:48:56 GMT
Just clearing out emails from 2016 and found a link to FCA website and how they are going to undertake their 'rigorous statutory standards' Statement on peer-to-peer applications for full authorisation
Statements Published: 31/03/2016 Last updated: 31/03/2016
This is a young and innovative market and we expect the Innovative Finance ISA, which launches on 6 April, to further increase consumers’ awareness of peer-to-peer lending (P2P). The FCA is keen to promote effective competition in this market. We are taking a proportionate approach to regulation, recognising the need for consumers to be adequately protected and have the information they need.
It is important that applications from firms wishing to be fully authorised are properly considered and that the firms meet rigorous statutory standards. How long it takes to consider an application depends on a number of factors including the completeness of the application, the complexity of the business, and the firm’s demonstrated compliance with regulatory requirements. We have up to 12 months to reach a final decision.
We have received a lot of applications for firms wanting permission to operate a P2P platform. Our consideration of whether to authorise firms as P2P platform operators is against a backdrop of recent changes to legislation which clarify how operating a P2P platform fits with other regulated activities. These changes came into effect in January and mid-March 2016.
As at 30 March 2016, eight firms have been fully authorised to operate P2P platforms. There are a further 86 firms awaiting a decision, of which 44 have interim permission. Firms with interim permission were previously licensed by the Office of Fair Trading, which regulated consumer credit before the FCA, and are able to continue carrying out consumer credit activities until we decide whether to fully authorise them. Only P2P loans on platforms operated by firms with full authorisation will be eligible investments for the Innovative Finance ISA.
We are working closely with individual firms to ensure they meet the rigorous statutory standards and are authorised as quickly as possible.
How things have changed, pity it was not a little more rigorous for us soles in Lendy and Collateral.
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daveb4
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Post by daveb4 on Aug 2, 2019 7:39:48 GMT
gladstone brookes[nothing to do with liam of lendy fame]are already looking into the murky world of p2p and once this ppi deadline has passed p2p platforms who have misled lenders and been economical at best with the truth[LIED]about manymany loans that THEY managed to fool lenders into funding are going to have to answer to people who will not put up with the BS.20% well worth it. Careful with GB and others - yes take 20-50% but similar to this murkey world they take your money when spending 10 minutes of your own time would save you that. In my world claims management companies themselves should be investigated far more than any P2P company.
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daveb4
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Post by daveb4 on Jul 26, 2019 19:11:44 GMT
Must be bad email, my other half asked me what I was reading as aparently I was getting rather agressive 😂, laugh or cry? I was not going to sell but not comfortable now
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daveb4
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Post by daveb4 on Jul 21, 2019 4:47:54 GMT
Annoying thing is that the platform is making money out of the people losing money by getting out Yep definitely a bit cheeky, increase fees, people want to sell due to forced fee increase/reduced dividends and take a turn on their misery! That is a FOS complaint in itself, surely? Get they have to make money but it should be on NEW properties not old. Eg if you do not buy any more properties, in new or secondary market no fee! This surely could be an easy fix as this woukd only be a small amount of clients in reality who will not make any real diffience to overall profitability.
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