jj
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Jolly Jammy
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Post by jj on Aug 30, 2017 18:00:30 GMT
A development loan ? Probably won't need a bid limit tomorrow. The irony.
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jj
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Jolly Jammy
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Post by jj on Aug 30, 2017 17:17:19 GMT
I got a bit but I feel I was a bit rushed. 30mins is not enough time to study the docs & do your own research.
I think 24 hrs warning would have been more appropriate.
I also second the limit bid.
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jj
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Jolly Jammy
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Post by jj on Aug 24, 2017 19:44:10 GMT
I know and I will not be lending to the borrower again.
I have a "one strike you're out" rule. The image of the painting has been burned into my brain.
Unfortunately I don't think this is the end of this debacle.
P.s. also the gold cups.
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jj
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Jolly Jammy
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Post by jj on Aug 24, 2017 18:25:46 GMT
That is a catch 22. FS wouldn't give it back without being paid back and Unb wouldn't provide the money without having the painting. All that would happen then is that FS would hand it over to Unbolted instead of the borrower handing it to unbolted. Would that be in a car park in public view ? Seriously, why would anyone want to lend to this borrower after today ? Regardless of the platform.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Aug 24, 2017 10:15:25 GMT
Well that's an improvement, I was only locked out from 10:59 to 11:02 this morning, still all 3 loans 100% funded by the time the FS site responded. Ho hum. They all went in seconds. Yes. To the same people it looks like. I think its these bots. I am not a computer person but I would imagine use of scripts would also slow the system.
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jj
Member of DD Central
Jolly Jammy
Posts: 320
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Post by jj on Aug 23, 2017 10:21:43 GMT
There is a health pipeline just now but I've noticed a lot are 12%.
Hope this isn't the start of a trend.
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jj
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Jolly Jammy
Posts: 320
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MoneyThing (MT) in Administration
IFISA
Aug 23, 2017 9:55:47 GMT
Post by jj on Aug 23, 2017 9:55:47 GMT
I think we are still months away yet.
I have a feeling the ISA urge might be a bit more subdued because of the Birkenhead situation & how that will play out.
Its good to talk.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Aug 22, 2017 12:56:58 GMT
Man. Noone wants to talk to me now this.
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jj
Member of DD Central
Jolly Jammy
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FundingSecure (FS) in Administration
Renewals...
Aug 19, 2017 10:46:06 GMT
Post by jj on Aug 19, 2017 10:46:06 GMT
All I can say is the limits were wrong - again!
In fact there wasn't any on the Porsche.
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jj
Member of DD Central
Jolly Jammy
Posts: 320
Likes: 358
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FundingSecure (FS) in Administration
Overdue loans
Aug 14, 2017 16:55:19 GMT
Post by jj on Aug 14, 2017 16:55:19 GMT
One of FS's significantly overdue property loans just repaid in full (2234007285 - was due to finish 20/10/2016). Good work given the 70% stated LTV. In other news, the TVR has just been defaulted, anyone wanna buy a TVR for circa £6,500? Well done. Does that include interest ?
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jj
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Jolly Jammy
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Post by jj on Aug 10, 2017 12:39:17 GMT
Hello all,
I am just finishing my first round (6 months) with FS and I have three loans that were due to be paid back and ALL three have not.
Now I don't mind that as such but I have two points that should really to be addressed in my opinion.
First point is if the borrower has failed to pay the loan back or has not arranged other alternative options the loan should go into default immediately with a default rate of interest. This would encourage the borrower to resolve the situation quickly.
Secondly, why is there not a loan update by FS ? The borrow has failed to pay back the loan and no update. There needs to be an update to alleviate lenders' fears.
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jj
Member of DD Central
Jolly Jammy
Posts: 320
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Post by jj on Aug 7, 2017 21:08:05 GMT
Well, I for one would like FCA to crack down on the dubious valuations loans are get across the P2P platforms.
I've come across many many occasions of blatant attempts to boost LTV.
When I sold my House to a lawyers son - lo and behold - the house was valued by a surveyor the same price we had agreed on prior. To the penny.
I just think that surveyors put in the price they are told to.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Aug 5, 2017 17:36:15 GMT
I took out a £8000 loan and invested in P2P like you are planning but I did it for slightly different reasons.
I needed the money to Fill up my ISA or I would lose it forever.
I took it out over one year period thus halving the interest payments i.e. 3.4% 1.7%.
The biggest problem has been cash drag, as mentioned before by others.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Jul 22, 2017 12:01:59 GMT
My only real concern reading through the doc they seem to have excuses ready before the project has begun.
You'll get 12%, maybe. You could get 2%, definately maybe. Might lose your capital.
What is to stop the parent co paying the 2% not carrying out the project and selling the details on to someone else ?
The risk is as usual is at the front end i.e. our end.
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jj
Member of DD Central
Jolly Jammy
Posts: 320
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Post by jj on Jul 22, 2017 9:40:42 GMT
Abundance just threw a fastball.
It's up and running.
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