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Post by Proptechfish on Apr 17, 2018 17:38:34 GMT
'No available investment opportunities' first time i've ever seen that on FS.
One of my allocations is now 7 weeks in awaiting activation.
It's probably nothing, but anybody else experiencing a slow down recently ?
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pier2pier
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Post by pier2pier on Apr 17, 2018 17:42:15 GMT
They have 4 renewals tomorrow  |
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rogerthat
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Post by rogerthat on Apr 17, 2018 17:44:00 GMT
'No available investment opportunities' first time i've ever seen that on FS. One of my allocations is now 7 weeks in awaiting activation. It's probably nothing, but anybody else experiencing a slow down recently ? Only in recoveries of overdue loans 
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rogerthat
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Post by rogerthat on Apr 17, 2018 17:45:26 GMT
They have 4 renewals tomorrow For mash get Smash...5 at the last count  George Formby Bristol Siddeley Stretford End x 2 Brighton Pavillion
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pier2pier
Member of DD Central
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Post by pier2pier on Apr 17, 2018 18:08:16 GMT
They have 4 renewals tomorrow For mash get Smash...5 at the last count George Formby Bristol Siddeley Stretford End x 2 Brighton Pavillion 5 it is, my bad 
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Post by Proptechfish on Apr 17, 2018 18:11:12 GMT
ok thanks guys, just a slow day in office then
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pier2pier
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Post by pier2pier on Apr 17, 2018 18:15:31 GMT
too busy sorting out all the train stuff today, getting ready for another auction |
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Post by Proptechfish on Apr 17, 2018 18:33:00 GMT
'No available investment opportunities' first time i've ever seen that on FS. One of my allocations is now 7 weeks in awaiting activation. It's probably nothing, but anybody else experiencing a slow down recently ? Come on the secondary market. You will find a lot of loans on offer and will help some people get away from this sinking outfit. Funnily enough i just don't find FS secondary market all that appealing 
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ashtondav
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Post by ashtondav on Apr 18, 2018 10:21:51 GMT
I’m now withdrawing funds having been hammered by unrecovered losses. The name FundingSecure is so inappropriate it beggars belief.
Admittedly I was unaware of the need for diversification and got stuck with several chunks of railwayana, but a post bad debt return of 5% is pretty poor.
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james21
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Post by james21 on Apr 18, 2018 10:28:46 GMT
I am reducing my invested amount by one third; just too many defaults. The headline 13% is very appealing but in reality over a period of time is eroded by the defaults down to about 7% assuming recoveries of about 50% of capital and no interest from the defaulted loans which is considerable since they have mostly run over a year. At present a number of loans over a year old are coming home to roost on FS so more defaults imminent
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 18, 2018 10:33:41 GMT
Many businesses get caught up in "expansion" and "acquisition", branch out into other/new areas of business and when this often proves disastrous they then hunker down and go back to their "core" business. FS should never have entered property and should revert to pawn. ( This has oft been stated on here I know, just thought I'd repeat it, so maybe FS get the message! ) |
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bugs4me
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Post by bugs4me on Apr 18, 2018 10:53:19 GMT
Many businesses get caught up in "expansion" and "acquisition", branch out into other/new areas of business and when this often proves disastrous they then hunker down and go back to their "core" business. FS should never have entered property and should revert to pawn. ( This has oft been stated on here I know, just thought I'd repeat it, so maybe FS get the message! ) ozboy - '....so maybe FS get the message!....' you are the eternal optimist
No problem with expansion and acquisition provided competent staff are employed to manage this diversification. With property, you need different experience to traditional pawnbroking. It's no good just relying on a desktop valuation and waiting for the borrower to repay. Those DFL's are can be a nightmare unless they are regularly monitored and that means getting off your rear ends and make regular physical visits. A telephone call is simply not enough.
There are many other examples which have been mentioned on the forum - no point in going over old ground. FS cannot handle defaults effectively IMO - the only problem is, it's not their own money. So a little respect towards those that do put their hands in their pockets wouldn't go amiss.
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pier2pier
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Post by pier2pier on Apr 18, 2018 10:59:20 GMT
4 renewals all gone today, just short of 200k, still plenty with faith wonder how much new money went in |
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rogerthat
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Post by rogerthat on Apr 18, 2018 11:15:24 GMT
4 renewals all gone today, just short of 200k, still plenty with faith wonder how much new money went in Certainly not mine...though I'm getting quite proficient in the "shuffling deck chairs around on the Titanic" caper. Until 6 loans beginning with the letters A..B..C..L..M & P are resolved..I will not invest one new penny into FS and I'm waiting on a response to an email ive sent (which has been acknowledged) regarding those. The outcome will decide whether I pull out completely or continue.
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jamesc
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Post by jamesc on Apr 18, 2018 12:16:44 GMT
Everyone's very keen to knock FS but fail to point out the biggest positive and that is they have a fully functioning secondary market. If you want to sell you can, you just need to discount whereas on others like L & MT where all sales are at par in many loans you can sit in a queue with little realistic likelihood of making a sale.
That's not to say FS does not have its problems as an investor in both W----haven and K---borough I can personally attest but if you don't like it at least you can get out.
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