Crisis of confidence in the platform

Some of the examples shared are daughting!! That's why I'm unloading lots of my loan portfolio from funding secure.

What I mean is that for some loan they don't base on GDV (like lendy), there is usually an escape after 6 months renewal and I invested much more on some London loans because I know the location and true value.

That's fair enough. 

My problem at the moment is it is the same 5 or 6 posters coming out with the same comments about the same few loans (out of thousands) day after day.  I think the narrative should be a bit more balanced and fair.  

exactly ! Also as pointed out by Imothep there is no excuse why industry standard practices were not followed with FS maintaining security when this timber frame was or rather wasn't paid for...

I am not bothered about the "sleepers" myself and others have rattled their cages and they failed to spot it so to me ,at least, it is pretty obvious who they are. Sleepers or not the total lack of information, weasel words, possible mis-information and constant procrastination is a shocking disgrace. We have been primed for non completion of the cinema on Monday - hopefully it will go ahead...I will not by impressed if it doesn't!

Hi ozboy , i appreciate your point of view and you are perfectly entitled to do what you wish what your money.

I am responding to comments like 'everything FS says is a lie' or nothing has happened on X, Y or Z loan and there has been no updates ever - but the loans in fact have thad receivers appointed and in some case has had the properties sold and money partially returned.  Take the Llandudno loan that was cited earlier as an example.  7 of the 9 properties have now been sold with 75% of the loan returned to investors but the poster claimed FS had so far done nothing to recover their money.  It's just not an accurate reflection of what is happening and it should be flagged as such.  Recovery on property loans often takes months/years to play out.  It's as if some people have never dealt with a lawyer or sold a house before.

I think there is a difference between a prediction or reporting of something you have been told and stating something as fact.  For example if a borrower tells FS we are going to repay the money next week and FS report this to us, then if the money is not paid it is not true to say FS have lied.  The borrower may have but that is a different issue.  With the bankers draft...FS never said they had a bankers draft, they said the equity partner claims he has received a bankers draft for funds.  They may well have been lied to or misled yes and fair enough lenders being annoyed and pulling them up on this but there is a big difference between that and a lie.  FS may well have been naive in some of these loans but I think some of the claims/criticisms are way over the top.

Possibly but my issue is the same posters constantly barrage the FS forum with disparaging remarks (some who openly admit they not invested).  Why are some of these people posting 10+ times a day on this board but never on L or MT...or maybe a platform they are actually invested in?  I've got to question their motives.

I agree, it does highlight the marked drop in confidence. A year ago this loan (£106k, 2nd charge, <40% LTV, highly desirable area) would have filled in less than a minute with less notice and a bid limit.

I didn't go for it because I look at FS property loans as 3 month investment opportunity at lower than advertised rate.  Although the loan looks ok to me, I think being 2nd charge it will be difficult to sell it in November. Probably wrong strategy, but an attempt to reduce the risk.