rookey123
Member of DD Central
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Post by rookey123 on Aug 13, 2018 11:28:56 GMT
I'm a little torn. I feel relatively confident in the low LTV holdings I have got. It's buyer beware on the more risky development finance loans but that is the way of P2P. What would give me more confidence is if FundingSecure engaged more with investors. It really doesn't take long to have someone engage in limited interaction on this forum. I think Assetz generally do this well.
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Post by boudicca on Aug 13, 2018 11:38:31 GMT
This is a public discussion forum.
Agreed, although it is no doubt easier to post predictions of major losses when you don't have anything at stake.
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p2p2p
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Post by p2p2p on Aug 13, 2018 11:42:03 GMT
Is there any p2p platform the members of this forum like? Or am I condemned to read people each trying to outdo each other in the vehemence of their postings everywhere?
If the members of the forum think their postings can actually bring platforms down, they need to be careful not to destroy the industry one provider at a time.
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bg
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Post by bg on Aug 13, 2018 11:45:36 GMT
IMO he's doing anyone who is still heavily invested a favour... like a guy shouting "HEY WATCH OUT FOR THAT ICEBERG!!" to the Titanic, only to be told that such actions were injurious to the good people at White Star Line and actually made the ship MORE likely to crash... I strongly disagree with this. Trying to push a platform to failure (which is the impression I get) is not doing anyone who is heavily invested a favour. I can only put it down to a personal vendetta. I'm all for constructive discussion of the loans (and there are some with big problems) but this goes way beyond that. If FS go out of business and we end up in a Collateral style recovery I don't think those that are heavily invested will be thankful (I certainly won't be). I really can't see how having multiple threads of 'predicted' losses of loans, some of which aren't even overdue (with losses seemingly picked out of thin air) helps anyone...but several forum members do seem to get a fair amount of glee out of this so at least its keeping some people happy. I can see why so many long standing constructive posters have left this platform.
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locutus
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Post by locutus on Aug 13, 2018 11:50:18 GMT
Is there any p2p platform the members of this forum like? Or am I condemned to read people each trying to outdo each other in the vehemence of their postings everywhere? If the members of the forum think their postings can actually bring platforms down, they need to be careful not to destroy the industry one provider at a time. Don't believe everything you read. I'm making excellent returns on FS and I'm happy to continue investing there. There are definitely improvements which I wish FS would make and loans which should be completely avoided but that is the same on any platform.
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Post by richardthe4th on Aug 13, 2018 11:57:00 GMT
Is there any p2p platform the members of this forum like? Or am I condemned to read people each trying to outdo each other in the vehemence of their postings everywhere? If the members of the forum think their postings can actually bring platforms down, they need to be careful not to destroy the industry one provider at a time. Some people find it more difficult than others to be positive, particularly where money is involved (which is why more people fill in customer satisfaction surveys when they've got something negative to say I think) Personally I thought the idea of loans secured by assets was a good one. IMO it's proved not to be (in my case) for several reasons - one of which was on another platform which I thought was going really well and, as a consequence, I got a bit greedy and invested more than I should. Personally I still like Ratesetter & Assetz
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adrian77
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Post by adrian77 on Aug 13, 2018 11:58:20 GMT
exactly but not sure which is more risky shorting or FS?
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adrian77
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Post by adrian77 on Aug 13, 2018 12:20:39 GMT
not very polite nor accurate - all I would like is FS to get their act together - when they do well e.g. Austin Healey etc I am the first to say, I was very fair with the Peter Howson painting despite the fact I lost money with it. FS have already had a mega loss with the NI turbine (which I ditched) which I really think could have been avoided, I said Wimbledon and Knaresborough were potential disasters which they clearly are.
And yesterday it appears that despite FS talking about piling in Newcastle a forum member had visited the site and there was no sign of it so that has left me wondering whether FS had lent a large amount of money (again I am in this one) for a major building where a ground survey had not been done!
I can appreciate some forum members might be a bit upset with my comments if they have large sums invested but please don't shoot the messenger and I am happy for people to disagree with me - I am in this game and seen numerous decent people well and truly shafted and I am not convinced FS know what they are doing and neither have they done enough DD to protect OUR money,
Do I think a couple of forum members have an FS loan and/or are "sleepers" who work for FS - anwers on a digital postcard
Oh well back to one of my building sites as lunch break is over...
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Post by boudicca on Aug 13, 2018 12:43:25 GMT
not very polite nor accurate - all I would like is FS to get their act together - when they do well e.g. Austin Healey etc I am the first to say, I was very fair with the Peter Howson painting despite the fact I lost money with it. FS have already had a mega loss with the NI turbine (which I ditched) which I really think could have been avoided, I said Wimbledon and Knaresborough were potential disasters which they clearly are. And yesterday it appears that despite FS talking about piling in Newcastle a forum member had visited the site and there was no sign of it so that has left me wondering whether FS had lent a large amount of money (again I am in this one) for a major building where a ground survey had not been done! I can appreciate some forum members might be a bit upset with my comments if they have large sums invested but please don't shoot the messenger and I am happy for people to disagree with me - I am in this game and seen numerous decent people well and truly shafted and I am not convinced FS know what they are doing and neither have they done enough DD to protect OUR money, Do I think a couple of forum members have an FS loan and/or are "sleepers" who work for FS - anwers on a digital postcard Oh well back to one of my building sites as lunch break is over... adrian77, you say 'I am happy for people to disagree with me' and then go on to accuse those forum members of being "sleepers" who work for FS. I take offence at the accusation you make simply because others disagree with some of the negative posts being made on the forum.
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 13, 2018 13:34:28 GMT
Is there any p2p platform the members of this forum like? Or am I condemned to read people each trying to outdo each other in the vehemence of their postings everywhere? If the members of the forum think their postings can actually bring platforms down, they need to be careful not to destroy the industry one provider at a time. Well yes, RS and hoping to stay happy at BM. I think FC and Assets are doing OK for me, but haven't checked recently! I hadn't formed the opinion anyone was " trying to bring a platform down", but share the frustration of many who take exception to the apparent incompetance and indifference to lenders of some platforms; I believe the member/reader-ship of this forum is too insignificant to do that even as a consequence of highlighting or even predicting shortcomings.
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blender
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Post by blender on Aug 13, 2018 15:00:18 GMT
I don't think there is a history of any platform being brought down by this forum. However, I believe that this forum can influence lenders' choices, and that is how it should be. The complaints are generally focussed on specific issues that a platform needs to address. The solution is for the platform to fix those issues, not for lenders (current and potential) to be quiet.
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adrian77
Member of DD Central
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Post by adrian77 on Aug 13, 2018 15:01:18 GMT
I never said nor think people who disagree with me are "sleepers" and yes I (and others) are suspicious about a couple of forum members - not least the one who asked me for my personal email!
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09dolphin
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Post by 09dolphin on Aug 13, 2018 18:15:20 GMT
I personally feel that sometimes FS post updates that are based on what the borrower tell them and this may have no basis in fact (see powerboat as an example). Is it unreasonable to expect FS to verify some of the information they provide to lenders (see Whitehaven as an example)?
Any investor would be expected to know that at 10%+ interest you can expect some loans to fail but, as loans are advertised as being for 6 months, it seems reasonable that when loans extend over 2 years investors become disgruntled and they are entitled to accurate information about what FS are doing to remedy the situation (RbS are a sterling example of how to manage loans and keep investors informed when borrowers are unable to meet their obligations). The quality of accurate information in the Loan Updates leaves a lot to be desired and long term is not helping FS as it enables investors to speculate about the loan situation.
Can I say that I now have little invested in FS loans (over £1K but less than £5K) which is significantly less than 2 years ago. All the money I have in FS is in active or defaulted loans that are well over 1 year old. I have moved the money I had in FS to other P2P investment vehicles. It matters not a jot to me if FS succeed or fail. Like all businesses I would expect the successful ones will be those who meet the needs of their customers in a costly and timely manner and those that fail are often mismanaged or for whatever reason don't meet the needs and wants of their customers. It seems unlikely that FS will still have a viable business in 3 years time unless they start to manage new and overdue loans in an efficient and effective way, however I wish them luck.
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Post by nobbiuscommodius on Aug 13, 2018 18:18:39 GMT
Adrian77 is representing - well, IMO - the current reaction to the state of FS. I have been chucking in the readies on various bits for the past three+ years & view with some dismay the info line, recovery & reaction components from FS.
Pattern seems to be, to me simply put, vote with feet, don't chuck in further until there are clear signs FS are thoroughly & properly reacting to OUR reaction (just refer to the current unfilled loans etc etc etc).
eyes on, hunker down - hope is a forlorn thing - actions speak louder 7 so on. Have a nice day.
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Post by boudicca on Aug 13, 2018 18:46:04 GMT
Adrian77 is representing - well, IMO - the current reaction to the state of FS. I have been chucking in the readies on various bits for the past three+ years & view with some dismay the info line, recovery & reaction components from FS. Pattern seems to be, to me simply put, vote with feet, don't chuck in further until there are clear signs FS are thoroughly & properly reacting to OUR reaction (just refer to the current unfilled loans etc etc etc). eyes on, hunker down - hope is a forlorn thing - actions speak louder 7 so on. Have a nice day. Welcome to forum - Interesting choice of subject for your first post. 
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