09dolphin
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Post by 09dolphin on May 19, 2016 11:14:27 GMT
There seem to be an disproportionate number of loans in the Londonderry area.
Do FS have an agent based there generating them or is it coincidence?
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09dolphin
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Post by 09dolphin on May 14, 2016 23:24:38 GMT
Mike. Quite correct re typo, but if I'm honest it was just a mistake. Should have said smaller rather than greater.
Good news that FS is going to take action if there's no interest payment before the end of next week.
I don't think that the borrower will pay the interest. If they could have found the money I think they would have paid it sometime between January and the present - hope I'm wrong.
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09dolphin
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Post by 09dolphin on May 13, 2016 13:04:21 GMT
I think they may realise that the valuation may be greater than the value of the loan.
Perhaps they regret the fact they believed the assurances given by the borrower. I'm sure that they remain confident that the interest will be paid (despite the assurances given in the various updates which never translated into payments).
I have lost confidence in the valuations FS put on property and land.
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09dolphin
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Post by 09dolphin on May 10, 2016 21:26:49 GMT
Isn't it time to put both borrower and lenders out of their misery?
If there had been honesty at some stage (intention to repay interest, mortgages/loans etc) I may have had more sympathy but the dishonesty makes me at best annoyed and at worst really angry.
Time for FS to actually manage the situation and step up to the plate.
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09dolphin
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Post by 09dolphin on May 9, 2016 15:15:18 GMT
Doubt he used a cashpoint - other than to draw out money for personal spending. Good that I didn't have any expectations of cash after the last update so that's one disappointment I don't have to experience.
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09dolphin
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FundingSecure (FS) in Administration
New Loans (FS)
May 6, 2016 20:35:03 GMT
Post by 09dolphin on May 6, 2016 20:35:03 GMT
Much prefer cars, jewellery etc to property so It's case of hope I can get a slice of tomorrows loans.
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09dolphin
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Post by 09dolphin on May 6, 2016 19:51:00 GMT
Latest update made me smile.
Could be wrong but I get the impression even FS are starting to lose confidence in this loan.
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09dolphin
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Post by 09dolphin on May 6, 2016 16:27:43 GMT
What a good job I didn't believe the last update and go on a spending spree today!!!!
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09dolphin
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Post by 09dolphin on May 3, 2016 11:13:29 GMT
I think FS are relying on full payment but I have my doubts as they only feel confident that the interest will be received.
Investors will be reassured that an administrator has not been appointed because FS are "confident" the loan will be repaid and they have a "person" at FS managing the loan. FS did say that default proceeding had been issued but, for reasons best known to FS and which they choose not share. they have obviously chosen to suspend the default process.
FS refuse to say exactly how long they will wait for the interest payment before they will take any action (because of their confidence in the borrower).
This is what I have been told today by "Daisy" in their online chat service
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09dolphin
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Post by 09dolphin on May 3, 2016 6:00:20 GMT
Payment will only be for interest according to the update. Last update confirmed they are seeking refinance but not that they had obtained refinance.
My understanding is that investors will have no choice but to continue to fund this loan.
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09dolphin
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Post by 09dolphin on May 2, 2016 18:01:11 GMT
30/01/16. Expect payment (of interest) next week. 12/02/16. Expect payment next week of interest 29/04/16, Expect payment next week of interest Does anyone seriously expect interest to be paid next week?
I really do hope default proceedings have been initiated as per update on 26/02/16.
Even worse FS intend to renew the loan when interest paid!!!
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09dolphin
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Post by 09dolphin on May 2, 2016 17:34:58 GMT
Don't know where dual investor gets the rates for FS but the best I've ever seen in the past year is 15% for investments of about 50K. For more "normal" investments it's normally 12- 13%. Can Dual investor let FS investors know which loans give 33% plus.
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09dolphin
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FundingSecure (FS) in Administration
loan activation
Apr 6, 2016 17:27:07 GMT
Post by 09dolphin on Apr 6, 2016 17:27:07 GMT
As fairly new to P2P investing I'd appreciate information from more experienced forumites.
Invested in the NI land loan. Was fully funded and then had the message saying delayed because of St Patricks day, then the loan would be activated very soon after Easter and then FS were chasing up as everything had been completed by them. My money has been tied up for more than 3 weeks. Is this normal and how long is the maximum money can be tied up for?
I do note that some loans are activated almost as soon as they are fully funded.
In the future how do I prevent money being tied up earning nothing (only get a couple of percent where it is but at least it's something).
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