sarahcount
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Post by sarahcount on Jan 23, 2020 22:47:34 GMT
Repaid in full
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foolsgold
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Post by foolsgold on Jan 24, 2020 0:01:58 GMT
Dont have access to historical data...what was the length of that loan?....LTV percentage etc?
Presume it was a recent loan under the new management
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arby
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Post by arby on Jan 24, 2020 7:24:10 GMT
Dont have access to historical data...what was the length of that loan?....LTV percentage etc?
Presume it was a recent loan under the new management
8 months (on this reissuance) till full repayment on 68% LTV. It had been rolled over a number of times from memory, but can't access the old loans anymore to confirm how many
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adrian77
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Post by adrian77 on Jan 24, 2020 11:50:33 GMT
I was tempted for a nibble in this one - should have!
However this was literally a Rolls-Royce loan bit like many other metaphorical ones! OK a Lada....
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iRobot
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Post by iRobot on Jan 24, 2020 18:28:36 GMT
Dont have access to historical data...what was the length of that loan?....LTV percentage etc?
Presume it was a recent loan under the new management
8 months (on this reissuance) till full repayment on 68% LTV. It had been rolled over a number of times from memory, but can't access the old loans anymore to confirm how many First came on the book in Feb 2017 and renewed four times. " A luv'ly runner!" 
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Post by defaultinator5000 on Jan 26, 2020 23:03:57 GMT
I would like to know how has this loan returned only 4.4% annualized interest when the loan term states 10%. Where the hell did the interest disappear on this and numerous other loans that repaid in full?
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foolsgold
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Post by foolsgold on Jan 26, 2020 23:51:01 GMT
Think it was mentioned in another thread re reduced interest return and attempts are being made to ask questions of the administrators but if its any consolation it looks like you have your capital back which is good given the massive capital losses that others look like suffering.
Looks like youve dodged the bullet unless you have other loans with FS that are catastrophic
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Mucho P2P
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Post by Mucho P2P on Jan 27, 2020 8:42:41 GMT
I would like to know how has this loan returned only 4.4% annualized interest when the loan term states 10%. Where the hell did the interest disappear on this and numerous other loans that repaid in full? There is a cost in removing items from storage, auction fees etc, this is likely where the 5.6% (annualised) disappeared to. Why did not happen under FS tenure. Maybe they just did not calculate correctly, and hence why they ended up going bust.
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Post by defaultinator5000 on Jan 27, 2020 12:35:16 GMT
Think it was mentioned in another thread re reduced interest return and attempts are being made to ask questions of the administrators but if its any consolation it looks like you have your capital back which is good given the massive capital losses that others look like suffering.
Looks like youve dodged the bullet unless you have other loans with FS that are catastrophic
I have plenty of catastrophic loans so I need at least those few that do pay out to return as much as possible.
Don't forget to add the 2.5% admin fee that the borrower pays when redeeming the loan. So essentially we have a 12.5% loan returning merely a third of that to the investors.
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Post by fsbloke on Feb 3, 2020 16:41:57 GMT
"Don't forget to add the 2.5% admin fee that the borrower pays when redeeming the loan".....er think you'll find that you, not the borrower, is paying that to CG (+VAT)!
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adrian77
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Post by adrian77 on Feb 3, 2020 17:11:32 GMT
very true but we have not yet been paid so as each month passes the interest rate decreases- wonder where the reclaimed money is - FS or the auditor's bank- just asking...
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Post by defaultinator5000 on Feb 3, 2020 21:04:53 GMT
"Don't forget to add the 2.5% admin fee that the borrower pays when redeeming the loan".....er think you'll find that you, not the borrower, is paying that to CG (+VAT)! The interest rate advertised to investors is not the interest rate the borrower pays. The latter is higher because FS also takes the cut and, if my memory serves me right, that amounts to 2.5% of capital. So in case the loan repays in full, the administrator fees should be covered from that fee.
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Post by fsbloke on Feb 3, 2020 21:34:45 GMT
Ah, we may be on crossed lines then! I thought you were referring to CG's recovery charges. As regards FS admin fees it's a bit tricky because we never got sight of the loan agreement but a typical loan for say £100k over 6 months quoted a total sum payable of £114.4k. Assume investor got 12% over 6 mths = £6k so the balance £8.4k, in this case, was payable to FS. They could split that £8.4k however they liked between arrangement fee, interest and admin fee. That 8.4k (over 6 months) obviously had to cover their costs.
If you have any idea what the typical arrangement and monthly admin fees were I'd be grateful to know. Thanks
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