No update a month after repayment date

All these numbers are quite difficult to follow.   This thread was a good idea in principle but needs to be done systematically and in some sort of graphic form to be meaningful.   In particular it needs to show trends I would suggest.   Ideally the figures need to be produced by someone who is already keeping them for the own purposes so s not to burden anyone.   I am not volunteering as I would not know a spreadsheet from  a bedspread. 

Latest Update

2086 entries in total

1553 completed

27 cancelled

47 defaulted for a total of £5,482,903.88

459 active

Of the 459 active

89 late (i.e. due on or before 28/04/2018) for a total of £23,631,799.96

So effectively nearly 20% of the loan book is overdue? And presumably many of these loans haven't also been updated by FS at all? 

And I seem to have most of them

Latest Update

2110 entries in total

1569 completed

27 cancelled

45 defaulted for a total of £5,481,753.88

469 active

Of the 469 active

100 late (i.e. due on or before 12/05/2018) for a total of £27,278,699.96

So, over £32,700,000 of our money overdue!!............& rising

Truly Shocking

Although the recoveries team have to be congratulated on a good 2 weeks work, 2 x defaulted loans recovered for a total of................£1150

2883063392 £650

2694979512 £500


Really makes you wonder doesn't it?

At the risk of sounding like an FS cheerleader, it's not particularly shocking to me, at least when you're in possession of more numbers.

Using FS's April numbers (which are broadly similar, just using as they're published here with additional figures: www.fundingsecure.com/invest-with-us/loan-statistics )

The £32m odd loans overdue or defaulted represent about 16.5% of the loanbook, some £190m in total, 83% of which was successfully renewed or completed.

Further, if we apply the P2PFA standard of NPL's (https://p2pfa.org.uk/data/), and allow FS a grace period of 45 days after the expected end date (which I think is fair given the majority of these loans are property and very difficult to forecast the end of) then another £9.5m falls into the net of 'just about ok loans'.

So, really, we're talking about circa 11% of FS's loans that are non-performing or defaulted. Given that these are high-rate high risk loans, and that there will be recovery on many - this does not sound shocking to me. How does that compare to Lendy? I dread to think what their % is. OK, maybe a bad yardstick 

Btw, despite the above, I agree that FS's lack of updates at the expiry points of loans and total radio silence on the art loans is totally unacceptable.