arby
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Post by arby on Dec 6, 2018 18:13:41 GMT
06/12/18 We can confirm the sale of the property has completed with a sale price of £81,750 The receivers costs and disbursements were £4,305.68 + VAT as applicable (£5,143.76) The solicitor's costs were £1,400 + VAT, and £23 of disbursements. The leaves a net proceeds balance of £74,903.24. This means all investors have recovered 100% of capital and 45% of accrued interest to date. This loan will now be closed. Half a loaf better than no bread spose  Half a loaf? That's a bit harsh. If a full capital return and ~5.5% interest is a bad result in p2p world then we can all relax. At worst, it's a return of the full cake with a bit of icing licked off 
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picnicman
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Post by picnicman on Dec 6, 2018 19:09:54 GMT
06/12/18 We can confirm the sale of the property has completed with a sale price of £81,750 The receivers costs and disbursements were £4,305.68 + VAT as applicable (£5,143.76) The solicitor's costs were £1,400 + VAT, and £23 of disbursements. The leaves a net proceeds balance of £74,903.24. This means all investors have recovered 100% of capital and 45% of accrued interest to date. This loan will now be closed. Half a loaf better than no bread spose If this was another certain platform, it might attract a slightly better response? Certainly a better result than many - Cheers P
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rogerthat
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Post by rogerthat on Dec 6, 2018 19:21:04 GMT
Shill alert !
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adrian77
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Post by adrian77 on Dec 6, 2018 19:37:09 GMT
to be fair to FS I would say this is a perfectly reasonable result OK not all interest recovered but you can't have everything! I note the valuation was very roughly 35% above the final price and the receivers and legal costs were very roughly about 10% of the monies realised.
This was a low value and I presume simple repossession so will be interested to see what the legal costs come in at for more complicated foreclosures - speaking of which I am still trying to find where this damn speedboat is and I just can't find who owns it and whether she is going to race at all as the racing team state they have closed down the booze V*** team! As to whether this boat will race along with the electric one I haven't a scoobies
If all my overdue property loans came in at this level I would be very happy....
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arby
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Post by arby on Dec 6, 2018 19:37:51 GMT
"rational response alert!"
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rogerthat
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Post by rogerthat on Dec 6, 2018 19:50:54 GMT
"rational response alert!" I did say that 'that half a loaf is better than no bread'..I was referring to the interest that was repaid which was 45% ~..so I was overly generous really but wasn't going to be so nit picky, unlike....
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arby
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Post by arby on Dec 6, 2018 19:55:37 GMT
"rational response alert!" I did say that 'that half a loaf is better than no bread'..I was referring to the interest that was repaid which was 45% ~..so I was overly generous really but wasn't going to be so nit picky, unlike.... And i was pointing out that when capital is at risk, as it is in these investments, and receivers are called in to dispose of an asset, saying that getting half a loaf back is better than nothing strongly implies a very different outcome.
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sarahcount
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Post by sarahcount on Dec 6, 2018 20:24:37 GMT
...yet another defaulted loan I have this one down in my FA list as a league 1 team viz less than 75% but over 49% growing!... Well done fundingsecure. Managed to get us out of this one without losing any money despite certain predictions. I've also managed to recycle my returned funds within the platform - albeit with quite a bit of care deployed.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 6, 2018 23:29:46 GMT
...yet another defaulted loan I have this one down in my FA list as a league 1 team viz less than 75% but over 49% growing!... Well done fundingsecure . Managed to get us out of this one without losing any money despite certain predictions.
I've also managed to recycle my returned funds within the platform - albeit with quite a bit of care deployed. You're a game bird sarahcount !
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Godanubis
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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 Dec 7, 2018 1:24:02 GMT
...yet another defaulted loan I have this one down in my FA list as a league 1 team viz less than 75% but over 49% growing!... Well done fundingsecure . Managed to get us out of this one without losing any money despite certain predictions. I've also managed to recycle my returned funds within the platform - albeit with quite a bit of care deployed. Managed to miss this one somehow but I seem to be getting a few sales from those involved reinvesting. THANKS 🙏
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