arby
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Post by arby on Dec 2, 2019 16:41:55 GMT
There is a single loan database. It was available every time we logged into the site. The only plausible explanation of the "different laptops" story is that notes/updates/correspondence/title details etc for each loan were stored on separate laptops.
That's still not good though!
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adrian77
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Post by adrian77 on Dec 3, 2019 8:39:49 GMT
Very true but I wonder just how much information was held in it? The question to me is where is the audit trail for the finances held? Hopefully we will soon find out
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Post by FSAG Forum on Dec 3, 2019 15:14:50 GMT
Very true but I wonder just how much information was held in it? The question to me is where is the audit trail for the finances held? Hopefully we will soon find out At least all of everyone's loan holding are in it, as that's what we see when we log in!
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iRobot
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Post by iRobot on Dec 7, 2019 14:54:44 GMT
Rightly or wrongly my call on the market is that within the next year we are going to see a 30% fall due to market correction which will be blamed on Brexit so not tempted to open my cheque book just yet... my business plan is assuming a 10-30% fall in property prices over the next 2 years or sooner. Somewhat modified from the straight '30%-within-a-year' from 10 months ago, but understandable. I still think you're wrong, but time will tell.
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adrian77
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Post by adrian77 on Dec 7, 2019 17:10:57 GMT
I may well be....think the election result and Brexit will have an effect. However sadly doesn't look as if I was wrong about warning about the FS loan book when I did my top 40 mega list!
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Godanubis
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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 Dec 7, 2019 17:22:33 GMT
Rightly or wrongly my call on the market is that within the next year we are going to see a 30% fall due to market correction which will be blamed on Brexit so not tempted to open my cheque book just yet... my business plan is assuming a 10-30% fall in property prices over the next 2 years or sooner. Somewhat modified from the straight '30%-within-a-year' from 10 months ago, but understandable. I still think you're wrong, but time will tell. Maybe in the South East not in Scotland as house prices here are tiny in comparison. I had a replacement car (another Phaeton previous had little bash but was uneconomic repair) delivered on Thursday from London the driver said he thought my house was fantastic. I told him in London it would be £5 million+ . Here it is just over £200k.
There are some advantages to living here despite Nicola Sturgeon 
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iRobot
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Post by iRobot on Dec 7, 2019 17:35:06 GMT
Maybe in the South East not in Scotland as house prices here are tiny in comparison. I had a replacement car (another Phaeton previous had little bash but was uneconomic repair) delivered on Thursday from London the driver said he thought my house was fantastic. I told him in London it would be £5 million+ . Here it is just over £200k.
There are some advantages to living here despite Nicola Sturgeon In the absence of any response to the regional specificity question, I'm assuming the UK as a whole. Certainly regional variations to be seen, as posted earlier. It's not exclusive to the UK either. Some preliminary investigations in France has uncovered quite significant regional variations. Some older properties in less favourable areas dropping by nearly 10%, whilst similar properties in other areas rising by that amount.
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adrian77
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Post by adrian77 on Dec 7, 2019 17:47:02 GMT
All this talk about regional variations etc is very true but there was no excuse whatsoever for FS lending money against what in many cases were fantastical valuations - just look at what MrC has reported back regarding the linked loans for the A*** lodge houses etc. To be fair to FS (not easy) other p2p companies used similar ridiculous valuations not least the affair with our hard black pencil friends and a certain castle!
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Dec 20, 2019 20:58:20 GMT
Partial Repayment today 20th Dec 2019.
The following calculation is for a £25 unit.
From account statement:
Interest earned from loan 1953413624A (Less Recovery Fee) £0.88
Capital Return from loan 1953413624A £13.97
The remaining Current investment shows
£11.03 live for 301 days defaulted since 18/11/19 accrued interest £1.09
My calculation shows the accrued interest on the repayment before deduction of recovery fee would be £1.38. So CG&Co have deducted 50p. That's more than 2.5%.
Can anybody explain the error?
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adrian77
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Post by adrian77 on Dec 21, 2019 18:11:59 GMT
Well there's a damn good question!
This one always puzzled me - just hope the investors get more back at a later date!
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Post by fsbloke on Dec 24, 2019 23:43:12 GMT
As I mentioned on another thread if you read the proposal (which was agreed) it states not just 2.5% but VAT plus disbursements. There is certainly a case for some clarity on how disbursements have been calculated.
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adrian77
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Post by adrian77 on Dec 26, 2019 16:14:30 GMT
exactly- and we all know how administration and disbursement costs can be disputed!
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Post by fsbloke on Feb 9, 2020 16:10:23 GMT
FYI Loan 1953413624 (£87818), the balance from previous repayments, was fully paid back today 05 Feb 2020.
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adrian77
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Post by adrian77 on Feb 9, 2020 17:41:31 GMT
good result - I was concerned about this one so got than wrong - hopefully a few more shekels from the borrower to pay the administrators etc
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Post by fsbloke on Feb 9, 2020 23:11:59 GMT
Yes Adrian but those are "our" shekels paying CG and IMHO it should be Funding Secure's shekels!....well as many as they have that is.
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