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Post by sannytwist on Jan 28, 2017 1:13:33 GMT
Hi all, see if l have a loan for sale on the SM. Does the loan see accrue interest when its on the SM?
Regards,
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FundingSecure (FS) in Administration
Defaulted loans
Jan 27, 2017 0:17:33 GMT
Post by sannytwist on Jan 27, 2017 0:17:33 GMT
Unfortunately, I'm in the turbine loan. The stupid thing is, I remember thinking to myself that I really don't trust all this new fangled green energy stuff, then went in for a couple of grand. Idiot. A couple of grand ........ goshhhhhhhhhhhhhhh I was pissed off that the Train loan is most likely going into default and fs isn't doing anything or updating us on the situation. I got £25 in it, then read u got a couple of grand on the turbine loan. Hope u get it back. In general FS valuations are really not that great.
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Post by sannytwist on Jan 26, 2017 21:09:47 GMT
l dont' think this loan is renewed. Pretty sure its defaulted.
Any other opinions what is gonna happen in a situation like this. I'm new here, my first default l think.
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Post by sannytwist on Jan 20, 2017 23:34:32 GMT
Hi, Was recently attempting to sell my share of this this loan on secondary market but noticed today that the system states the loan is 'Too old' .
Is this normal and is there anything l can do .
Like l said l'm very new to the p2p scene so apologies if this type of thing is normal. My first time experiencing something like this.
Regards,
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Post by sannytwist on Jan 10, 2017 16:00:34 GMT
The loan is filling up so quickly was 45% last time l looked , now already 86%
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Post by sannytwist on Jan 10, 2017 15:37:45 GMT
pro con
- The valuation is one local estate agent's advice as to what price to put the house on the market. It may be wrong, it may be right.
- We have no idea of the scale of the works...
- ...and so we have no idea by how much the £170k value will be reduced once the refurbishment is underway
- ... and we don't know what is the chance of the refurbishment completing successfully and a sale in 6 months
- How will our loan be repaid if a sale is not achieved in 6 months?
- We have no idea of the capability of the borrower to complete this project successfully. (I am thinking Grand Designs successes and failures.)
- We do not know if the borrower is paying monthly interest to the 1st charge holder, or if she will need to find interest as well as capital after 6 mths
If everything goes badly and the project does not complete: - say the current value today is only realistically £150k
- say the value is reduced by £30k at the refurbishment's point of no return
- say there is £10k of interest to find
total equity available: £110k
This would leave £14k for the 1st charge holder and FS to prosecute recovery of security.
I reckon this would be a worst-case situation.
Very detailed , l got so much to learn !
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Post by sannytwist on Jan 10, 2017 15:06:09 GMT
What is the general consensus on this loan... mite drop a few £££ on this one. Seems fine to me
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Post by sannytwist on Jan 9, 2017 20:25:54 GMT
Which of the 2 loans u guys will be looking to invest in ? Emeralds and car loan
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Post by sannytwist on Jan 7, 2017 13:18:43 GMT
There are a lot of loans overdue by 30+ days. Either the 'guys with baseball bats' need to be going round and getting the property into auction or we want to see updates that show some sort of progress is being made. No repayment and no updates makes me think no progress is being made. Hi Jeepers I am genuinely puzzled by this. Take for example a loan like PBL047 (I hold) which is 119 days overdue. There is ample security and it is clear that the borrower is seeking to refinance but this is not working out for whatever reason (anyone who has dealt with property knows how this can happen) for example "The borrower's solicitor advises a 28th October refinancing." So you are right - four months overdue, people trying hard but not much progress. Personally I'm fine with this, although there are plenty of other loans I wouldn't touch with the proverbial bargepole. Your concern is presumably that these loan may not repaid (hence the baseball bats comment). But unlike the position of a commercial lender, here you have the opportunity to get repaid at par value at any time. There is currently nothing at all on the secondary market - literally nothing. So if you wish that your 30+ day loans were repaid, then as far as you are concerned they can be! Put them on the market and see how many minutes they take to clear. What is the problem that you are trying to solve? I agree with this, he has a point.
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Post by sannytwist on Jan 6, 2017 15:41:09 GMT
I also have the same feelings but for some reason don't believe collateral will organise this meet for investors to inspect their holdings. If they did they would of said it by now. Slim chance to none.
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Post by sannytwist on Jan 6, 2017 15:23:08 GMT
I've been keeping an eye on COL as I want I to succeed. I like the jewellery loans, I'm just not yet convinced they actually exist and remain sceptical of the valuations. However I digress... I like to keep an eye on the website performance as this was a major issue and it seems still is. I finally have a 20Mbps fibre connection and the site is just as sluggish as it was a few months back. Which is disappointing. Clearly it cannot handle multiple connections and as the investor base grows this problem is only going to get worse. I've also noticed that a lot of the website change requests in the other thread have started coming round again, same requests which still haven't been implemented been requested by a different user. Again very disappointing. The "We'll pass this to the developers" post seems tI be as far as these requests get. I really hoped they would of sorted all these issues out by now because I really want the diversification of the jewellery. Can you explain what you mean but 'they actually exist' so you think collateral is making these loans up ? as in fraud?
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Collateral (COL) in Liquidation
Website down
Jan 6, 2017 15:20:58 GMT
Post by sannytwist on Jan 6, 2017 15:20:58 GMT
Hi , l just tried to login. Website completely down. Anyone else getting this ?
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Post by sannytwist on Jan 5, 2017 15:45:04 GMT
OK, so I've taken the plunge (or at least dipped a toe) into Bondmason with their minimum investment and we'll see how we go. Thanks for all your help. Gl!
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Post by sannytwist on Jan 5, 2017 12:02:46 GMT
I dipped my toe into the p2p market by spreading some cash across five different companies. There always has to be a last place, and this I have awarded to bond-mason, why? Initially my £1k was invested over a two to three week period. This performance mean't I was confident to increase my initial investment. However, I know find that 30% of my investment is sitting there in cash. Looking at bond-mason performance they have made just a single £30 investment from the 5th of last month to the 5th of this month. Oh dear.... Maybe before you invest your money, its better to phone in the p2p platform your using and speak to them how the service works. Sounds like you expected something else, l suggest doing more research before dipping your toes.
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Collateral (COL) in Liquidation
Bid Size
Jan 4, 2017 10:30:13 GMT
Ton ⓉⓞⓃ likes this
Post by sannytwist on Jan 4, 2017 10:30:13 GMT
Hi Please remember that certain threads are intended for platform staff only. Sorry, l forgot about that.
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