woodland
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Post by woodland on May 2, 2018 17:17:39 GMT
Like many of us, I scour FS offerings on a daily basis & have become increasingly selective with my investments.
Unlike many of us (it seems), I am reasonably happy with my dealings with FS over the last 1-2 years, although admittedly they are slow at chasing overdue loans & poor with meaningful updates.
Renewal loans often have built up some sort of track record visible to all. There has also been more time to reflect. Was the loan renewed on time? Has there been any progress with the development? Is there an updated valuation? How quickly did the loan fill last time? (I would particularly like to identify those that filled in seconds / minutes as I think this is a useful indicator).
With this in mind, I thought it would be a good idea to gather nominations for the ‘best’ loans in one place - those with low/good LTV’s, good interest rates (preferably with bonus), the project well underway or close to completion etc. I do not want to impose strict criteria as we will all have a view on which are the safest loans. Compiling such a list may allow as to act quickly when a loan comes up for renewal, with less focus on extended due diligence (although there is no guarantee that you will get any!)
In the interests of abiding by forum rules, I think listing the loan number, with a short explanation of why you are nominating it, would be sufficient. I would hope to identify on ly around 15-20 of currently active loans as a maximum - I am not sure how well this thread will be received but I hope it catches on as I for one would find it v useful!
Any offerings? I have a least 2-3 in mind which I will add.....
Edit : my nominations will have a bias towards those carrying a bonus as these are useful to me! I appreciate that these will be inherently more risky than those without a bonus!
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woodland
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Post by woodland on May 2, 2018 17:57:42 GMT
Biased towards those paying a bonus but here’s a starter.....
1) 2811652081 - low LTV, pays a bonus, renewed several times promptly, filled in seconds.
2) 5188882739 - good LTV using conservative approach, renewed mostly on time, some major BH investments, bonus available, filled in seconds - wary of comments by mcLondon on closed forum.
3) 1047818326 - low LTV, pays a bonus, renewed promptly x several, filled quickly, has lower priority loans ranking this, BH’s present.
Those are just 3, not necessarily the best of all but I have only started compiling my own list recently. Managed to get into 1) and 3).
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Post by crystal on May 5, 2018 3:27:21 GMT
Thank you for this insight. There is (understandably) often a bias on forums towards identifying negative aspects of loans made. Positive features of loan details are welcome.
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rogerthat
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Post by rogerthat on May 5, 2018 9:24:50 GMT
Biased towards those paying a bonus but here’s a starter..... 1) 2811652081 - low LTV, pays a bonus, renewed several times promptly, filled in seconds. 2) 5188882739 - good LTV using conservative approach, renewed mostly on time, some major BH investments, bonus available, filled in seconds - wary of comments by mcLondon on closed forum. 3) 1047818326 - low LTV, pays a bonus, renewed promptly x several, filled quickly, has lower priority loans ranking this, BH’s present. Those are just 3, not necessarily the best of all but I have only started compiling my own list recently. Managed to get into 1) and 3). 1. In this with a MH...missed out once due to demand.. 2. In this with a MH...renewed 3. In this with generous nibble but in light of a visit recently by the forums roving reporter sold anything other than the 1st priority loan..lack of progress apparently Of course I could counter the good with the bad and potentially very ugly and if they go pectorals up I will be royally up a certain pass but I wont repeat them as ive done them to death already on here and via emails to HQ. But I make no bones about it in that if 2 of them in particular don't resolve themselves, P2P and me are going to part company.
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Post by dan1 on May 9, 2018 11:54:29 GMT
Biased towards those paying a bonus but here’s a starter..... 1) 2811652081 - low LTV, pays a bonus, renewed several times promptly, filled in seconds. 2) 5188882739 - good LTV using conservative approach, renewed mostly on time, some major BH investments, bonus available, filled in seconds - wary of comments by mcLondon on closed forum. 3) 1047818326 - low LTV, pays a bonus, renewed promptly x several, filled quickly, has lower priority loans ranking this, BH’s present. Those are just 3, not necessarily the best of all but I have only started compiling my own list recently. Managed to get into 1) and 3). You may want to take a look at... 1223770018 - W******** Farm - low LTV, bonus, renewed several times promptly
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mjc
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Post by mjc on May 13, 2018 5:54:09 GMT
Biased towards those paying a bonus but here’s a starter..... 1) 2811652081 - low LTV, pays a bonus, renewed several times promptly, filled in seconds. 2) 5188882739 - good LTV using conservative approach, renewed mostly on time, some major BH investments, bonus available, filled in seconds - wary of comments by mcLondon on closed forum. 3) 1047818326 - low LTV, pays a bonus, renewed promptly x several, filled quickly, has lower priority loans ranking this, BH’s present. Those are just 3, not necessarily the best of all but I have only started compiling my own list recently. Managed to get into 1) and 3). 1. In this with a MH...missed out once due to demand.. 2. In this with a MH...renewed 3. In this with generous nibble but in light of a visit recently by the forums roving reporter sold anything other than the 1st priority loan..lack of progress apparently Of course I could counter the good with the bad and potentially very ugly and if they go pectorals up I will be royally up a certain pass but I wont repeat them as ive done them to death already on here and via emails to HQ. But I make no bones about it in that if 2 of them in particular don't resolve themselves, P2P and me are going to part company. What I didn’t understand about 3) is that the valuers said on 29 Sept 2016 (para 12), “this should be completed in 8 weeks”, but still not over 18 months later. If I read this right, they will have paid more in interest than the profit made.
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r00lish67
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Post by r00lish67 on May 13, 2018 7:42:03 GMT
I think the Northern Irish 1061891452 belongs on any list of this sort. First charge against a very nearly completed development. The LTV is listed as 30%, but the particulars advise:
"The LTV on this loan is calculated by £220,000 / £1,386,000. This gives an LTV of 16%
The total lent against this property from all loans is now £420K which gives an overall LTV of 30%
We will be using the overall LTV of 30% on this loan to avoid confusion"
So, to summarise, the LTV is very clearly 16%, but we're going to list it incorrectly as 30% to cover an additional loan that has since been redeemed anyway. This, apparently, reduces confusion.
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michaelc
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Say No To T.D.S.
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Post by michaelc on May 13, 2018 19:58:02 GMT
I think the Northern Irish 1061891452 belongs on any list of this sort. Yes, lets hope it defaults. 12.5% long in to the future.... <evil grin> Actually, I probably should know (but don't) do FS typically keep the rate or do they increase it for non-paying  that should be locked up developers that are having trouble meeting their loan agreements?
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Post by df on May 13, 2018 22:23:39 GMT
I think the Northern Irish 1061891452 belongs on any list of this sort. Yes, lets hope it defaults. 12.5% long in to the future.... <evil grin> Actually, I probably should know (but don't) do FS typically keep the rate or do they increase it for non-paying that should be locked up developers that are having trouble meeting their loan agreements? Typically they increase the rate on facilities falling behind the previous loan/s.
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number5
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Post by number5 on May 14, 2018 11:56:58 GMT
New loans seem to have slowed down considerably over the last couple of weeks...I have cash sitting idle with nothing to invest in!
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that should be locked up 