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Post by charliebrown on Apr 3, 2018 11:53:15 GMT
All that really seems to happen here is that some of us investors lose money (by getting wrapped up in defaults) and some gain money (by being lucky enough to avoid defaults). We could just wrap some cash up in newspaper and play a giant game of pass the parcel instead. FS are clearly inept when it comes to recoveries, they’re like a rabbit caught in the headlights.
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trium
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Post by trium on Apr 3, 2018 12:23:02 GMT
The FS stats page doesn't seem to be particularly helpful: I can't tell how many of the late loans eventually become defaults. For the defaulted loans, the biggest chunk of capital is "pending" and it's not clear how much of this is eventually "lost". It would help if it went back more than the last 3 months. Those are cumulative figures. Whatever happened more than three months ago is already rolled up in those figures. The fact that the Capital Lost figure hasn't changed in three months is that FS haven't yet deemed any more loans to be irrecoverable. If and when they do so that figure will rise.
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james21
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Post by james21 on Apr 3, 2018 12:42:24 GMT
233 loans / 17 defaults/unredeemed 69 overdue longest 566 8.98% return for year - 7.3% defaults/unredeemed =1.69 % after unredeemed been holding back to see end of tax year / think it would be better on AC 30 day acc That looks really bad, what I would do is analyse your investments to see how you could have reduced risk, 17 defaults and 233 loans looks excessive, you must be into just about everything. My own mistake was investing in 2nds and rank behinds, 3rd renewals, also putting too much into certain loans. Now I dont do any of these things (eg avoided the Holland Park one today even though its a new one it is a 2nd) unfortunately my mistakes have already come to roost or are in play
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09dolphin
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Post by 09dolphin on Apr 3, 2018 13:56:42 GMT
The fact that FS appear to now be starting to have difficulty filling loans may tell you everything you need to know about FS. If the loans were anywhere near the value they ascribe lenders would have a chance of at least getting their investment back but, alas, this is normally not the case. Especially in the case of loans such as Whitchurch.
So good to know that FS are being proactive in terms of protecting lenders money!!!!
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09dolphin
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Post by 09dolphin on Apr 3, 2018 14:02:35 GMT
The FS stats page doesn't seem to be particularly helpful: I can't tell how many of the late loans eventually become defaults. For the defaulted loans, the biggest chunk of capital is "pending" and it's not clear how much of this is eventually "lost". It would help if it went back more than the last 3 months. Those are cumulative figures. Whatever happened more than three months ago is already rolled up in those figures. The fact that the Capital Lost figure hasn't changed in three months is that FS haven't yet deemed any more loans to be irrecoverable. If and when they do so that figure will rise.
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Liz
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Post by Liz on Apr 3, 2018 14:49:41 GMT
The fact that FS appear to now be starting to have difficulty filling loans may tell you everything you need to know about FS. If the loans were anywhere near the value they ascribe lenders would have a chance of at least getting their investment back but, alas, this is normally not the case. Especially in the case of loans such as Whitchurch.
So good to know that FS are being proactive in terms of protecting lenders money!!!! The best loans aren't struggling to fill. They are the loans I will likely be investing in. I'm not diversifying into the loans I deem to be bad and not saleable on the SM. i too am avoiding 2nd ranking, 2nd charges, land, London and high LTV(above 50% or maybe lower) development loans
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Post by wottalot on Apr 6, 2018 17:16:43 GMT
It has been a learning process for us investors over the last 4 or 5 years.
We now know not to trust the platforms' assessment of the borrowers or their so-called independent valuations.
Having been caught in the NI Wind Turbine debacle, I'll never forgive FS for their stupidity and lack of control, and I have suggested that other investors with whom I'm acquainted avoid the FS platform.
Fortunately, my other platforms have performed very much better overall, so my overall average is actually pretty good at about 9% - so far as I can tell at present.
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Post by df on Apr 6, 2018 18:37:35 GMT
I have about 180 loans and 7 defaults. If I assume a 50% recovery from the defaults (some will be zero) I estimate my return will be in the region of 9 to 10%. What do you expect? My average return is 10%, but I expect it to be lower in future. This is due to the general fall of interest rates on FS and in the past 6 months I was selling many property loans with big discount.
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number5
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Post by number5 on Apr 6, 2018 19:13:41 GMT
Is there anyway you can tell what your % return has been since joining FS?
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Liz
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Post by Liz on Apr 6, 2018 19:33:22 GMT
Is there anyway you can tell what your % return has been since joining FS? Spreadsheet.
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number5
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Post by number5 on Apr 6, 2018 19:51:14 GMT
Is there anyway you can tell what your % return has been since joining FS? Spreadsheet. But how does that tell you your return since you joined FS....i.e. my balance has increased over time?
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Post by Badly Drawn Stickman on Apr 6, 2018 20:05:55 GMT
But how does that tell you your return since you joined FS....i.e. my balance has increased over time? You will be wanting a bit of record keeping and mathematics as side dishes.
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Liz
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Post by Liz on Apr 6, 2018 20:11:49 GMT
But how does that tell you your return since you joined FS....i.e. my balance has increased over time? You will be wanting a bit of record keeping and mathematics as side dishes. Research XIRR
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bugs4me
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Post by bugs4me on Apr 6, 2018 21:18:59 GMT
You will be wanting a bit of record keeping and mathematics as side dishes. Research XIRR XIRR is fine provided the platform acts in a timely manner reference defaults and does not engage in professional can-kicking.
My XIRR on FS is currently showing 9.63% - so not bad.
But hold on a minute me, remember there's a nasty Welsh loan that's coming up to 1000 days since inception which has not been taken into account by the XIRR and depreciating by the day. There will probably/maybe/who knows a 50% haircut on that one so the XIRR will reduce to 6.59%. That 6.59% will gradually reduce the longer this particular fiasco goes on.
So I think I need something a bit stronger than XIRR - well in my case anyway especially when trying to calculate % return in FS land.
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number5
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Post by number5 on Apr 6, 2018 23:42:05 GMT
You will be wanting a bit of record keeping and mathematics as side dishes. Research XIRR Done some research but struggling to apply the formula on the 'account information' breakdown data...is that the data you are using? It is not coming up with the %
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