Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Feb 13, 2019 23:11:49 GMT
Is it possible to see current outstanding loans value as well as PF value somewhere on Welendus? All I can see is cumulative amount lent and that PF = current total of all loans which are late by 35+ days (which may well be quite a large % of the loan book). PS. GS outstanding loans value is actually £22M with 818K provision fund. 80M is a cumulative amount lent and includes repaid loans Not as far as I know. I think until a few months ago the PF was shown as an actual amount and not just a percentage. I don't understand why that was pulled. I like W but for me the biggest weakness is transparency and clarity. If I had that I'd increase lending by an order of magnitude. Trouble is I don't think they particularly need more lenders right now. Seems to be getting better i'm investing about £250 a day and it gets allocated that day at 11.5-15%
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 13, 2019 21:41:27 GMT
but presumably "the timber frames have been made and paid for" but are not being delivered to site yet. so all is good. You are a bad boy just winding them up. That's my Job
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 13, 2019 21:39:03 GMT
I was thinking about improvments to the platform. What do others think ?
As Welendus is a good platform for those with less time to monitor their investments.
You choose your desired returns and any repayments are automatically re-invested.
The exception are Provision fund bonus payments which require manual allocation.
If you could have 1 block you could nominate to recieve bonus payments it would save having to do this manually.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 13, 2019 20:50:55 GMT
Think we might have 4 Homes + Few bits and pieces on these so Now I agree it will probably be a disaster
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 13, 2019 14:16:21 GMT
I like sound economics not least dan1's analysis - the point is that FS have many problematic loans e.g. art, 2 x 6m total property loans, park homes etc etc and until we know how these pan out it is impossible to know how the FS loanbook is performing over the longer term. If the 2 property loan totals realise 2/3 of capital that is 4m quid gone in a flash and the 2/3/4 charges totally wiped out. As for churning a profit most of us are very dubious - good luck to those who claim to do this profitably but it's not for me. Dan1’s analysis shows no overall loss if invested either prudently in diverse portfolio or equally in all loans. My point based on facts . Your points based on exceptional loans being portrayed as being the norm.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 17:08:25 GMT
Can't see what all the fuss is about......... it's only £6.99. My WINDOWS 10 was free, and I had indicated the I did not want it as I felt my laptop was to old and really working well on WINDOWS 8.1, now it is absolutely useless. I wish I could get WINDOWS 8.1 for only £6.99
This might be of use to you .. link
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 17:06:01 GMT
Here is a good Excel £199 masterclass for Free . Free master classYou need it to make good money in P2P
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 16:58:56 GMT
fundingsecure - for your info the borrower's refinance hope may be the new p2p platform propifi which has this asset listed as 'coming soon'. However their first loan to another of this borrower's SPVs isn't proving to be very popular (1.05% funded after ten days). See this thread for more info. Thanks for link always good to increase our knowledge base for loans. I’ve no problem FS recovering from refinancing elsewhere in fact there is another offering on propifi for developing of a mobile home park. FS should offer to get them off to a good start when developed by supplying 7 nice new park homes at a slightly discounted price.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 16:47:16 GMT
FS still at their incompetent best 22/01/2019
The auction of one of the boats is currently underway. As it is an internet auction, there are a further 4 days to go. We are still soliciting offers for the large boat. As the crowdfunding option does not seem to have progressed, we organising the remaining boats to be transported to a dealer for a faster sale. So auction ending 26/01/2019 - what was the outcome please? Why are you even bothering to ask? You already know what the silence from FS means on the outcome of the auction. I hope i'm wrong but it's obvious auction did not give a positive outcome for lenders. The final outcome won’t known for months when all are sold and cost consolidated. Standard terms FS don’t make money unless lenders Get 100% capital back.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 16:28:02 GMT
Good that FS are being more proactive. Even with this evidence of improvement I’m sure the anti-FS kabal will be posting negative comments shortly to counter any positive posts. Just as you Godanubis , as part of the ( VERY small, Gang of Three?) pro-FS cabal, will be posting positive comments to protect your Book, and ensure there's still plenty of mugs to buy your Loans? We have the statistics to back us up. I’m happy for you to tell folk to get out. To do so frightens them to in Brexit terms “crash out” based on emotion rather than sound economics. You all just use a very muddy crystal ball. Anybody is welcome to sit back and make the 11.63% My that’s up from last month an amazing feat considering all your “predicted” failures over the last 6 months. A fact you just gloss over is to sell a loan We have to first buy the loan thereby keep cash flowing for the smart people that buy good loans and exit with reasonable tax free return. Buy well and I’ll buy it off you. Again show 1 that’s all 1 overall loss on a balanced portfolio in FS . It should be easy there are thousands of investors. You can’t so I’ll ask again anybody who as not made a profit since joining FS Please, Please show us... Time to put up or ..you know the rest.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 10:42:02 GMT
I never accused the art loans of being unfairly valued. If you want to talk about them best to continue in the art loan thread. I'm not sure what you mean here? You or I are not in a position to judge what is criminal or not. There is definitely a case against this loan (Whitehaven) some clear misrepresentations were made to get investment. There is also a case against the Art Loans, where the loans were advertised as secured on items to get investment. That security apparently did not exist. However all we can do is speculate, you cannot state for a fact there is nothing shady thats gone on here, nor can anyone say there has been. Nonsense, many legitimate and proper investments have lost money. I was referring to FS as a whole not individual loans. Their losses are currently 0.58%. If FS pay capital back there are no grounds for official complaints the loan is not yet completed. FS update was “As previously reported we expect this process to be a long drawn out affair, but we will continue to pursue all avenues to ensure the maximum possible recovery.”
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 10:37:04 GMT
You must have somehow missed the part where the post said You have no idea what they spent the upfront fee on. It certainly appears like they checked nothing out legally. Other platforms did turn down loaning on these items so presumably they actually did carry out some checks FundingSecure never bothered with. The valuations on FS are regularly just plucked out of thin air. "Current value : £800,000" (Whitehaven) The others probably saw they had loans with FS and decided not to lend. You have no evidence that FS did not get proper valuations just because people don’t like the fact they might loose money does not mean there was malfeasance. Where would The upfront fees come from if the loan was not taken up ? Also there is the underlying fact FS do not get their fees until the borrowers are fully repaid it may be accruing but they won’t get it until investors do. Therefore there is NO incentive to do anything others than try to operate loans efficiently. In the end if FS decide to pay this themselves all the moaning in the world won’t get you a penny more and there would be no validity to any complaint as the bottom line is the money was paid. You may not like some things they do but they do within the law and in line with their T&Cs. Any breach of T&C is a civil matter. Only regulated operations are of any interest to regulators. Anyone investing properly and prudently does not lose money. I’m sure you invitation to join the “We hate FS” Kabal will be issued soon.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 3:03:54 GMT
As the name implies upfront means before any investment. I presume the fees are used in preparing legals and arranging valuations etc. If the borrower doesn’t take up the loan it could be used to pay interest to lenders that invested before activation.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 2:54:39 GMT
Another update from FS that shows teeth and a reluctance to blindly accept borrower sob stories. Go new improved FS! Take no prisoners. (Loan always had too large a first charge in front of it for my taste but FS still confident that investors shouldn't suffer a loss) Good that FS are being more proactive. Even with this evidence of improvement I’m sure the anti-FS kabal will be posting negative comments shortly to counter any positive posts.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 12, 2019 2:39:07 GMT
Predators weed out the weak and remove the burdens strengthening the whole.
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