Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Feb 28, 2019 19:09:32 GMT
It was actually 4p tax free . Take care of the pennies and the pounds take care of themselves. If you take the time to look it takes one macro key press to sell. I check every loan every day to pick up the tit bits Arguably you watched pennies walk out the door, I sold at +1% so made 26p. Then rehoused the capital in some sovereigns. Just as an aside I thought you two were in the same team? It would help us neutrals if you could list the line ups. Good that you see the value of wise investment and resale. Now sell the sovereigns and make another 26p . Since I have 10s of thousands up for sale at any one time each sale adds a little and removes a risk.
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Post by dan1 on Feb 28, 2019 19:19:16 GMT
It was actually 4p tax free . Take care of the pennies and the pounds take care of themselves. If you take the time to look it takes one macro key press to sell. I check every loan every day to pick up the tit bits Arguably you watched pennies walk out the door, I sold at +1% so made 26p. Then rehoused the capital in some sovereigns. Just as an aside I thought you two were in the same team? It would help us neutrals if you could list the line ups. Well, we already have the borrowers league so perhaps we need to set-up some lenders vs platform fixtures, no? I have you down as a natty little winger VI, with the wit of Pat Nevin to boot, up for the challenge? Don't forget that the FS team will be full of ringers from Wycombe Wanderers, and incidentally "wandering" is perhaps an apt adjective (a little unfair, granted!). Edit: I shudder to think of the abuse the refs would get
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Post by dan1 on Mar 6, 2019 9:33:05 GMT
fundingsecure - it would be helpful to provide links to the loans on your new FundingSecure Updates thread. e.g. the latest post would read... "An update from FundingSecure on the below loans are available on the platform, please login for details. 1969663897" Loan numbers alone don't identify the asset and the link will only work for users logged in to the platform.
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arby
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Post by arby on Mar 6, 2019 10:10:40 GMT
fundingsecure - it would be helpful to provide links to the loans on your new FundingSecure Updates thread. e.g. the latest post would read... "An update from FundingSecure on the below loans are available on the platform, please login for details. 1969663897" Loan numbers alone don't identify the asset and the link will only work for users logged in to the platform. Agreed, and if you're willing to make one change, then maybe a second? Could you also include the loan name in the emails which tell us a loan has been defaulted/repaid/activated? As Dan alluded to above, these messages are only sent to investors in the loan so there should be no issue with privacy. Or is it only me who has to copy/paste the loan number from the email and enter it into the 'all loans' tab to find out if its a £25 or £2000 investment that's repaid
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paulb
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Post by paulb on Mar 6, 2019 13:46:34 GMT
Or is it only me who has to copy/paste the loan number from the email and enter it into the 'all loans' tab to find out if its a £25 or £2000 investment that's repaid It'd be nice to see any loans repay, never mind thousands.... You don't need to go to the loan to find out what's been repaid - you can easily see this on the "Investment history" tab on your investments page. I've just done this, and it makes rather depressing reading - only a single repayment in the last 3 months.
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arby
Member of DD Central
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Post by arby on Mar 6, 2019 13:50:05 GMT
Or is it only me who has to copy/paste the loan number from the email and enter it into the 'all loans' tab to find out if its a £25 or £2000 investment that's repaid It'd be nice to see any loans repay, never mind thousands.... You don't need to go to the loan to find out what's been repaid - you can easily see this on the "Investment history" tab on your investments page. I've just done this, and it makes rather depressing reading - only a single repayment in the last 3 months. True. Thank you, I'll remember that. Do you know if it works across ISA and regular as well? Otherwise I'll still be checking two accounts just to see something that could be in the email.
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paulb
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Post by paulb on Mar 6, 2019 14:14:00 GMT
I believe the two accounts are completely independent, so you'd need to check both regular and ISA.
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Post by dan1 on Mar 13, 2019 22:24:41 GMT
Capital LossesThe table below lists the capital losses from loans marked as Completed. The data has been extracted from the individual loan listings except where additional recoveries have been achieved as documented in the footnotes (the return has been increased accordingly). The lost capital to date stands at £1,516,496. The figure provided on the Loan Statistics page of £1,334,741 was last updated for February 2019 and does not yet include the capital losses from the following loans: - Trains - Renewal [Note: "Completed" on 14 Jan 2019]- Railwayana 4 Renewal [Note: "Completed" on 14 Jan 2019]- South Wales Property - Second Loan - Property Loan - Whitehaven Reference | Title | Rate | Loan | LTV | Repaid | Lost | Return | Bonus | End Date | Completed | Late | 572782847 | Two Rings | 13% | £2,200 | 69.84% | £1,688 | £512 | -23.3% | No | 12 Nov 14 | 16 Feb 15 | 96 | 654474218 | Lubin Paintings | 13% | £13,000 | 40.63% | 1£9,100 | £3,900 | -30.0% | No | 26 Nov 14 | 14 May 15 | 169 | 2002084876 | Lubin Paintings | 13% | £20,000 | 66.67% | £14,000 | £6,000 | -30.0% | No | 31 Aug 15 | 15 Sep 15 | 15 | 1922610905 | Scottish Boatyard | 13% | £250,000 | 62.50% | £216,441 | £33,559 | -13.4% | No | 15 Jan 16 | 18 Aug 17 | 581 | 1740709902
| South Wales Property, 2nd
| 13% | £100,000 | 14.29%
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| £100,000
| -100.0% | No | 8 Mar 16 | 4 Mar 19 | 1,091 | 6742133163 | Wind Turbine | 12% | £1,000,000 | 63.86% | 2£319,036 | £680,964 | -68.1% | No | 23 Aug 16 | 2 Oct 17 | 405 | 1477496494
| Trains - Ren.
| 13% | £11,760 | 75.87%
| £5,600 | £6,160 | 5-38.5% | No | 29 Sep 16 | 14 Jan 19 | 837 | 1439986541
| Railwayana 4 Ren.
| 13% | £15,239 | 67.73%
| £2,550 | £12,689 | 5-74.6% | No | 2 Feb 17 | 14 Jan 19 | 711 | 1355651457 | Name plate and Trains | 13% | £8,000 | 228.58% | £2,000 | £6,000 | 5-75.0% | No | 2 Mar 17 | 17 Jul 18 | 502 | 3867743062 | Knaresborough - 2nd | 16% | £100,000 | 63.00% | | £100,000 | -100.0% | No | 3 Mar 17 | 16 Aug 18 | 531 | 1411851665 | Railwayana 3 - Partial Rep. | 13% | £3,943 | 58.42% | £2,000 | £1,944 | 5-49.3% | No | 11 Mar 17 | 16 Jul 18 | 492 | 1213701687
| Mixed Use Property, Liverpool - Ren.
| 13%
| £625,000
| 65.79%
| £440,500
| £184,500
| -29.5%
| Yes
| 18 Mar 17
| 7 Dec 18
| 629 | 6506149886
| Trains
| 13% | £14,500
| 69.48%
| £4,975
| £9,525 | 5-65.7% | No | 24 Mar 17 | 19 Dec 18 | 635 | 1804081423
| Maritime Mem. - Ren.
| 13% | £5,655
| 68.13%
| £1,357
| £4,298 | 5-76.0% | No | 30 Mar 17 | 20 Dec 18 | 630 | 9353059607
| Trains and memorabilia
| 13% | £8,600
| 78.18%
| £1,260
| £7,340 | 5-85.3% | No | 6 Apr 17 | 19 Dec 18 | 622 | 3033854831
| Coll. of railway models
| 13% | £14,407
| 68.22%
| £3,360
| £11,047 | 5-76.7% | No | 28 Apr 17 | 19 Dec 18 | 600 | 2286673307 | Railwayana 5 - Ren. | 13% | £3,100 | 51.67% | £1,300 | £1,800 | 5-58.1% | No | 30 Apr 17 | 16 Jul 18 | 442 | 1411250582
| Railway Coaches - Ren.
| 13% | £4,238
| 132.80%
| £1,200
| £3,038 | 5-71.7% | No | 19 Jun 17 | 19 Dec 18 | 548 | 3093125938
| Railwayana - Ren.
| 13% | £11,200 | 62.22%
| £2,200
| £9,000 | 5-80.4% | No | 19 Jun 17 | 19 Dec 18 | 548 | 1415667110
| Railway mem. - Ren.
| 13% | £5,157
| 96.39%
| £1,300
| £3,857 | 5-74.8% | No | 2 Jul 17 | 19 Dec 18 | 535 | 3042513260
| Model Railway... - Ren.
| 13% | £11,559
| 51.15%
| £2,400
| £9,159 | 5-79.2% | No | 2 Jul 17 | 19 Dec 18 | 535 | 5257926445 | The Lodge | 13% | £190,000 | 69.09% | 3£141,400 | £48,600 | -25.6% | Yes | 14 Jul 17 | 16 Apr 18 | 276 | 3057909038 | The Riding School | 13% | £238,500 | 68.14% | 4£177,400 | £61,100 | -25.6% | Yes | 14 Jul 17 | 16 Apr 18 | 276 | 8087670443
| Coll. of railway models
| 13% | £12,827
| 86.55%
| £3,456
| £9,371 | 5-73.1% | No | 29 Jul 17 | 19 Dec 18
| 508 | 1780965818
| Railway models - Ren.
| 13% | £10,663
| 125.44%
| £3,290
| £7,373 | 5-69.1% | No | 8 Aug 17 | 19 Dec 18
| 498 | 3178751025
| Trains - Ren.
| 13% | £6,000 | 88.23%
| £1,124
| £4,876 | 5-81.3% | No | 16 Aug 17 | 19 Dec 18 | 490 | 2356637233
| Railwayana - Ren.
| 13% | £6,000
| 66.67%
| £2,000 | £4,000 | -66.7%
| No | 30 Aug 17 | 19 Dec 18 | 476 | 9899194706
| Model Trains - Ren.
| 13% | £11,130
| 114.74%
| £1,830 | £9,300 | 5-83.6%
| No | 9 Sep 17 | 19 Dec 18 | 466 | 2027812507 | Neath Property | 13% | £116,000 | 70.30% | £75,305 | £40,695 | -35.1% | Yes | 19 Sep 17 | 12 Oct 18 | 388 | 2125032158 | Peter Howson Painting | 10% | £10,000 | 33.33% | £5,625 | £4,375 | -43.7% | No | 26 Sep 17 | 11 Apr 18 | 197 | 1291079105 | Neath Property - Supp. | 13% | £10,000 | 70.00% | | £10,000 | -100.0% | No | 12 Oct 17 | 12 Oct 18 | 365
| 3015522616
| Whitehaven
| 13% | £94,500 | 70.00%
| £31,594
| £62,906 | -66.6% | No | 25 Nov 17 | 6 Mar 19 | 466 | 8526896902
| Property in Skewen - Ren.
| 12% | £46,000
| 65.71%
| £40,422
| £5,578 | -12.1%
| No | 13 May 18 | 17 Oct 18 | 157 | 3046618699
| Coll. of Rings - Ren.
| 12% | £8,000 | 61.54%
| £4,775
| £3,225 | -40.3%
| No | 17 Jun 18 | 22 Oct 18 | 127 | 2127087124
| Diamond Earrings - Ren.
| 12% | £3,000 | 60.00%
| £2,600
| £400 | -13.3%
| No | 17 Jun 18
| 22 Oct 18
| 127 | 7663442012
| Malaya Garnet - Ren.
| 13% | £60,000 | 66.67% | £10,598
| £49,402 | -82.3%
| No | 2 Oct 18 | 21 Dec 18 | 80 |
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| £3,050, 178
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| £1,533, 686 | £1,516, 496 |
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Please let me know of any errors or omissions. 1 20 Apr 15: "The total sale proceeds amount to £1,880. All active investors will shortly receive a capital repayment in proportion to the amount invested." 2 18 Jul 18: "A further (small) amount has been recovered and will be distributed shortly." - £14,460.58 (derived from the Loan Statistics lost capital of £1,334,741 minus the sum of lost capital excluding the loans listed above). Represents an additional 1.45%, which is almost consistent with the reported 1.5%, see here. 3 7 Jun 18: "A further amount of £3,900 has now been recovered - representing approximately an additional 2.1% return of capital, which will shortly be distributed to all investors accounts proportionately." 4 7 Jun 18: "A further amount of £4,900 has now been recovered - representing approximately an additional 2.1% return of capital, which will shortly be distributed to all investors accounts proportionately." 5 "Note that there may have been a previous part-repayment. The capital loss should therefore be viewed in the context of the overall loan rather than the remaining items."
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coop
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Post by coop on Mar 19, 2019 12:54:35 GMT
So as I understand it from FS loan statistics page there is currently:
£26.1m of Loans which are active and not overdue £43.9m of overdue loans £20.5m of defaulted loans of which:
£4m Recovered £15m Pending Recovered £1.3m Written off (bumped up as per Dan's post above)
If we ignore Recovered and Written off for now then only 30% of their loanbook is in it's normal life cycle; 51.6% is overdue and 17.6% pending recovery having been defaulted.
Is that correct? Is that a fair assessment?
Really hard to see a way forward for them as a business unless they can start to originate £3-5m loans per month consistently; and significantly increase recoveries. In the last month they originated £1.4m new loans (although they might be "new" loans which are renewals of old ones...), £1.9m was repaid but £2.1m increase in overdue!
In the short term they need a much increased loan flow (plus a few recoveries maybe!!) because even they can't obscure how bad these figures look without it!
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arby
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Post by arby on Mar 19, 2019 13:26:45 GMT
So as I understand it from FS loan statistics page there is currently: £26.1m of Loans which are active and not overdue £43.9m of overdue loans £20.5m of defaulted loans of which: £4m Recovered £15m Pending Recovered £1.3m Written off (bumped up as per Dan's post above) If we ignore Recovered and Written off for now then only 30% of their loanbook is in it's normal life cycle; 51.6% is overdue and 17.6% pending recovery having been defaulted. Is that correct? Is that a fair assessment? Really hard to see a way forward for them as a business unless they can start to originate £3-5m loans per month consistently; and significantly increase recoveries. In the last month they originated £1.4m new loans (although they might be "new" loans which are renewals of old ones...), £1.9m was repaid but £2.1m increase in overdue! In the short term they need a much increased loan flow (plus a few recoveries maybe!!) because even they can't obscure how bad these figures look without it! As you point out, new loans only obscure the bad figures and do nothing at all to address the actual issue. The last few months of communication have all said that they are reducing the new loans to focus on the recovery issues. I'm not sure if I believe new loans were actively restricted, but it's clear they recognise that action on old loans is needed, rather than just writing new loans to hide the issues as you suggest.
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coop
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Post by coop on Mar 20, 2019 10:09:38 GMT
Yes, they need to at the very least recover more overdue funds each month than the amount of funds which lapse from "current" to overdue in said month. This will make the overdue figure decrease month on month and then it will look like they're doing something!
Thinking purely in terms of PR/Image here; the need these figures to look good enough to tempt more mugs in.
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adrian77
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Post by adrian77 on Mar 20, 2019 10:36:18 GMT
this is far worse than I thought - if we say 50% of overdue loans default then that is over £40m in total defaults and if the average recovery is 75% that is £10m lost. Considering there are some biggies in the pipeline e,g art works then that may be optimistic...
Well I hope the "organic growth it's a process" team turn this around and quickly!
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r00lish67
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Post by r00lish67 on Mar 20, 2019 13:13:58 GMT
this is far worse than I thought - if we say 50% of overdue loans default then that is over £40m in total defaults and if the average recovery is 75% that is £10m lost. Considering there are some biggies in the pipeline e,g art works then that may be optimistic... Well I hope the "organic growth it's a process" team turn this around and quickly! Well, as per MrC's recent DDC posts, there may be an imminent completion of a 10-tranche Dev loan and another overdue £715k loan based upon LR alerts. So there is evidence of life there, and the more activity we see in redeeming/renewing loans, the better. A few redemptions, a few new loans coupled with the new ISA season could change things rapidly. That's not to excuse them from their significant challenges on other loans with which many lenders are rightly aggrieved about though.
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coop
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Post by coop on Apr 16, 2019 14:19:58 GMT
So as I understand it from FS loan statistics page there is currently: £26.1m of Loans which are active and not overdue £43.9m of overdue loans £20.5m of defaulted loans of which: £4m Recovered £15m Pending Recovered £1.3m Written off (bumped up as per Dan's post above) If we ignore Recovered and Written off for now then only 30% of their loanbook is in it's normal life cycle; 51.6% is overdue and 17.6% pending recovery having been defaulted. Is that correct? Is that a fair assessment? Really hard to see a way forward for them as a business unless they can start to originate £3-5m loans per month consistently; and significantly increase recoveries. In the last month they originated £1.4m new loans (although they might be "new" loans which are renewals of old ones...), £1.9m was repaid but £2.1m increase in overdue! In the short term they need a much increased loan flow (plus a few recoveries maybe!!) because even they can't obscure how bad these figures look without it! Time for a cheeky update: £19.6 of Loans which are active and not overdue (drop of over £6.5m!) £48.6m of overdue loans (increase of £4.8m!) £20.6m of defaulted loans (somehow this only increased by £103k! Imagine overdue loans increased by nearly 5 million but you only need to default an additional £103k of loans?? Baffling) of which: £4.15m Recovered (£106250 recovered in March jolly good show lads) £15m Pending Recovered (Fallen by less than £4k!) £1.3m Written off (they still havent added on the extra £200,000k ish Dan has worked out) Some of the more astute amongst you may have noticed a clever little trick here (emphasis on little cos it hasn't really affected the figures much). They have defaulted £103k in March and recovered £106250. Pending recovery figure has only reduced by £3250. This makes it highly likely that the £103k they defaulted makes up 97% of the recovered figure. Us cynical chaps may well suggest this was only ever defaulted once recovery was a certainty to massage the recovery stats a bit! With current trends non-overdue loans are going to be under £10m within 3-6 months. Hard to see how they turn this around form here tbh.
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arby
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Post by arby on Apr 16, 2019 14:32:23 GMT
Hard to see how they turn this around form here tbh. The required strategy is very simple. All they have to do is be successful with the recoveries. If they are, then lots of people will have made very large returns through FS and the business will be in a good place to continue. If they don't, then yes, it's not looking good. A pipeline of new loans only serves to paper over the cracks. FS have repeatedly said they are restricting new loans to concentrate on recovery efforts.
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