lobster
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Post by lobster on Oct 14, 2017 10:11:53 GMT
I see our friends j***y and j****y (jenny and jeremy ?) are back in action again, being the largest participants, with 10k each thus mopping up 40% of the entire loan  . Presumably both renewals, given that there was a £100 limit. |
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jj
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Jolly Jammy
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Post by jj on Oct 14, 2017 10:31:11 GMT
I see our friends j***y and j****y (jenny and jeremy ?) are back in action again, being the largest participants, with 10k each thus mopping up 40% of the entire loan . Presumably both renewals, given that there was a £100 limit. Thats from the rollover. I think there was only <£2425 available from my reckoning.
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rogerthat
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Post by rogerthat on Oct 14, 2017 13:29:05 GMT
Even with Auntie Beatties latest BTHub6..the Bury loan never even appeared on screen in the Available Investments for me and yes I did get the page up within 2 seconds after 11.00 am..and despite refreshing in less than 5seconds and getting at least a 65Gb download speed..all is not what it seems  |
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mikes1531
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Post by mikes1531 on Oct 14, 2017 16:44:33 GMT
My connection is nowhere near that fast, but I did manage to bring up the Available Loans page just after 1100 and IIRC it showed this loan to be 98% funded at the time. I wasn't trying to invest in it, so I don't know if I could have -- I suspect not.
I went for the Stretford loan instead and obviously had no problem there because it's still available now. (And it might even last until the bidding restriction is lifted tomorrow morning.)
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Liz
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Post by Liz on Oct 14, 2017 17:35:53 GMT
My connection is nowhere near that fast, but I did manage to bring up the Available Loans page just after 1100 and IIRC it showed this loan to be 98% funded at the time. I wasn't trying to invest in it, so I don't know if I could have -- I suspect not. I went for the Stretford loan instead and obviously had no problem there because it's still available now. (And it might even last until the bidding restriction is lifted tomorrow morning.) I took your advice and bid on Stretford 
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mikes1531
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Post by mikes1531 on Oct 14, 2017 21:18:33 GMT
I went for the Stretford loan instead and obviously had no problem there because it's still available now. (And it might even last until the bidding restriction is lifted tomorrow morning.) I took your advice and bid on Stretford It's just as well you did so reasonably promptly, because I was wrong about how long the loan might last. It's fully funded now.
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rogerthat
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Post by rogerthat on Oct 14, 2017 22:29:50 GMT
My connection is nowhere near that fast, but I did manage to bring up the Available Loans page just after 1100 and IIRC it showed this loan to be 98% funded at the time. I wasn't trying to invest in it, so I don't know if I could have -- I suspect not. I went for the Stretford loan instead and obviously had no problem there because it's still available now. (And it might even last until the bidding restriction is lifted tomorrow morning.) I did Stretford too..which in one sense allowed more squid to be invested with a percent more ?...I'm sure ive seen part of the Bury loan fairly recently and it disappeared in a flash last time too
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rogerthat
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Post by rogerthat on Oct 14, 2017 22:40:20 GMT
My connection is nowhere near that fast, but I did manage to bring up the Available Loans page just after 1100 and IIRC it showed this loan to be 98% funded at the time. I wasn't trying to invest in it, so I don't know if I could have -- I suspect not. I went for the Stretford loan instead and obviously had no problem there because it's still available now. (And it might even last until the bidding restriction is lifted tomorrow morning.) I know its late at night but I just ran a network speed test @ 11.30pm out of curiosity, connected by Ethernet cable 87.01Mbps download and 13.10Mbps upload Cack..apologies..my brain clearly needs a rest as ive made 2 posts when one would have done..time to go to bed
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r00lish67
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Post by r00lish67 on Jul 6, 2018 7:17:01 GMT
A replacement loan up for this one this morning.
The current loan is paid 11% interest and was a fixed 10% LTV loan.
The new loan is paid 10% interest, 21% LTV, and fundingsecure have helpfully slipped in at the bottom "Although the borrower does not anticipate any need to drawdown additional funds there remains an available facility of up to a total of £140,000 which would rank equally with this loan"
IMV, regardless of the likelihood or not of the facility being used, the loan should be stated at the facility LTV of 40%.
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steve11523
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Post by steve11523 on Jul 6, 2018 9:22:14 GMT
I agree. At least the potential dilution should be highlighted
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rogerthat
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Post by rogerthat on Jul 6, 2018 9:28:20 GMT
A replacement loan up for this one this morning. The current loan is paid 11% interest and was a fixed 10% LTV loan. The new loan is paid 10% interest, 21% LTV, and fundingsecure have helpfully slipped in at the bottom "Although the borrower does not anticipate any need to drawdown additional funds there remains an available facility of up to a total of £140,000 which would rank equally with this loan" IMV, regardless of the likelihood or not of the facility being used, the loan should be stated at the facility LTV of 40%. Agree with that..btw does anyone know what the 'ongoing development project' is ?
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r00lish67
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Post by r00lish67 on Jul 6, 2018 9:39:24 GMT
A replacement loan up for this one this morning. The current loan is paid 11% interest and was a fixed 10% LTV loan. The new loan is paid 10% interest, 21% LTV, and fundingsecure have helpfully slipped in at the bottom "Although the borrower does not anticipate any need to drawdown additional funds there remains an available facility of up to a total of £140,000 which would rank equally with this loan" IMV, regardless of the likelihood or not of the facility being used, the loan should be stated at the facility LTV of 40%. Agree with that..btw does anyone know what the 'ongoing development project' is ? From the original loan last year (which was stated correctly as a 40% LTV loan, incidentally) : "Client plans to use the funds to complete the development of two separate semi-detached properties, which have been presold for £500,000 - the proceeds from which will be used to pay back the loan". To be honest, at 40% LTV, I don't think FS much care. And if the borrower isn't touching the security property, that's probably for the better from our POV.
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rogerthat
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Post by rogerthat on Jul 6, 2018 9:47:27 GMT
Agree with that..btw does anyone know what the 'ongoing development project' is ? From the original loan last year (which was stated correctly as a 40% LTV loan, incidentally) : "Client plans to use the funds to complete the development of two separate semi-detached properties, which have been presold for £500,000 - the proceeds from which will be used to pay back the loan". To be honest, at 40% LTV, I don't think FS much care. And if they're not touching the security property, that's probably for the better from our POV. Silly me..just read the VR..doubt this will mirror current take-up rate...
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rogerthat
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Post by rogerthat on Jul 6, 2018 10:01:10 GMT
Nowt !  |
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 6, 2018 11:14:10 GMT
Nowt ! Me too; and FS stupidity allowed greedy bast*rd g.....A to take £20,000.
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