ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 17, 2018 14:03:14 GMT
Nice 1  |
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Monetus
Member of DD Central
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Post by Monetus on Apr 17, 2018 14:21:50 GMT
Nice idea for a thread... thanks for setting this up.
Funding Secure
Valuer: Berrys
Loan ID: 6742133163
Loan Name: Wind Turbine
Loan Amount: £1,000,000.00
Capital Recovered: £304,570.98
Capital Recovered: 30.5%
Original Valuation: £1,566,000.00
Capital Recovered (Valuation): 19.5%
Overall Loss: £695,429.02
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marka
Member of DD Central
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Post by marka on Apr 17, 2018 15:28:56 GMT
Good idea. Can I suggest a date column would be useful - although whether that would be date of default, admin, sale of asset or whatever I guess is debatable.
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Post by Butch Cassidy on Apr 17, 2018 16:16:21 GMT
Not yet resolved & recovery still to fully play out, some certain looming losses, others may wipe their face but here are the Moneything secured loan contenders so far;
MTAT788 – Lyt**m St A**es £650k value, £455k loan
BPF808/9 – Bir***head £4.85m value, Tranche A - £1.22m & B - £610k loans
MTAI837 Pr***bury £3.1m value, 2.0m loan
MTAS844 Ply***th 1 £2.9M value, £1.92M loan
MTAS934 Ply***th 2 £1.32M value, £820k loan
MTAS933 Boll***ton £2.87m value, £2.0M loan
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copacetic
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Post by copacetic on Apr 18, 2018 11:07:09 GMT
Excellent post, looks like Lendy are winning on total amount lost at least. FS win the top spot however for the only 100% loss I am aware of so far - loan 3867743062 (it's a bit messy and might not fit neatly in your table since it's a 3rd charge):
Platform: FS
Loan Name: Property in Kn**********h
Loan ref 1223006016 £150K 2nd charge
Loan ref 3033120644 £140k 2nd charge
Loan ref 1422136493 £150k 2nd charge
Loan ref 1759773541 £100k 2nd charge
Loan ref 1861254173 £85k 2nd charge
*Loan ref 3867743062 £100k 3rd charge (effectively as it ranks behind other tranches)
FS valuation figure is valuers' average discounted to £3,500,000 for works to be completed on the main property. £326k for other properties as additonal security.
(1)Kempston-Parkes £3,500,000
(2)Ashtons £4,000,000
(3)Fine & Country £4,250,000
(4)Croft Residential £4,250,000
Note none of these were RICS valuations addressed to FS. FS actually based the valuation on a value addressed to the borrower (1) plus 3 estate agent letters who appear to have been competing for the chance to market the property!
Main property sold for less than £1,705,000 which was the amount of the 1st charge (not given exact figure)
Estimated £250k still to be realised on other properties per 05/04/18 update hence likely total wipeout for 3867743062. Your call whether this loan qualifies to be included given the small amount of security yet to be realised but it would need to realised at >2.5 times current estimate to recover anything at all.
A warning for investing in higher charge security loans.
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michaelc
Member of DD Central
Say No To T.D.S.
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Post by michaelc on Apr 18, 2018 11:15:01 GMT
Yes, a great idea and really useful post. Perhaps it should be a sticky?
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registerme
Member of DD Central
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Post by registerme on Apr 23, 2018 13:17:14 GMT
It's going to take a while (years) for the dust to settle, but NG related loans on ThinCats are going to be horrific  . |
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Steerpike
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Post by Steerpike on Apr 23, 2018 13:33:20 GMT
I'm in 3 of the NG loans on TC directly and more indirectly through various TLCs, I fully expect some of these to return 0% capital, and I doubt that there will be surplus from other cross collateralised loans, truly a ghouldish prospect.
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Post by bracknellboy on Apr 23, 2018 13:45:36 GMT
It's going to take a while (years) for the dust to settle, but NG related loans on ThinCats are going to be horrific . did you have to go and remind me  My biggest single P2P position...
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agent69
Member of DD Central
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Post by agent69 on Apr 23, 2018 18:14:09 GMT
but NG related loans on ThinCats are going to be horrific . Fortunately I was getting out of TC when Mr G was becoming the darling of the platform (seem to recall his loans would fly off the shelf). Having recently looked at the private forum there doesn't appear a lot to be optimistic about.
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Monetus
Member of DD Central
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Post by Monetus on May 3, 2018 15:08:48 GMT
Out of interest.... why did this thread get deleted?
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invester
P2P Blogger
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Post by invester on May 3, 2018 17:42:02 GMT
Wonder if one of the platforms complained.
In the P2P world there is no such thing as a major loan loss, it's all 'in recovery'.
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Monetus
Member of DD Central
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Post by Monetus on May 3, 2018 18:01:32 GMT
Wonder if one of the platforms complained. In the P2P world there is no such thing as a major loan loss, it's all 'in recovery'. 
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star dust
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Post by star dust on May 3, 2018 18:17:14 GMT
Wonder if one of the platforms complained. In the P2P world there is no such thing as a major loan loss, it's all 'in recovery'. Mod Hat On/ Just to clarify, it wasn't an action by forum staff. It was the OP who deleted the post which they started the thread with. This means that it's now ozboy who has the option of changing the thread title 
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bigfoot12
Member of DD Central
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Post by bigfoot12 on May 3, 2018 18:58:34 GMT
This means that it's now ozboy who has the option of changing the thread title The king is dead long live the king!
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My biggest single P2P position...
