ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 15, 2020 12:00:28 GMT
Most of us on here tried valiantly for years to warn others of the FS scam but the Flagwavers would have none of it and continued to vigorously extol the "virtues" of FS. I feel VERY sorry for anyone who began investing or added more to FS Loans after reading the Flagwaver's constant bigging up. Heads have been below parapats of course but an admission that you were totally wrong and an apology of some sort would show you have some integrity. Unlike FS.
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adrian77
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Post by adrian77 on Apr 15, 2020 12:26:48 GMT
Here's a funny thing - I was thinking exactly the same - is the main flag waver still going to come out on top - course he is - and there was me expecting he would take a £100K hit. I am more than happy to post my statements which are well on course to showing a loss now that the microscuptures are yet another mega loss.
I am compiling a list of loans with a 100% loss - I just can't believe how many there are. I am doing this because hopefully we can sue FS for gross incompetence - business is business and hence you are going to get unexpected results - some good and some bad but such horrendous FS results scream one thing at me and it is not repeatable here...
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 15, 2020 12:41:30 GMT
Many on here are all very "Pommy Polite" which is an admirable attribute and all very nice, but it does not stand you in good stead when swimming in shark infested waters.
The FS Flagwavers are responsible for untold damage to some people's wealth and need to be called out.
As I have said, some sort of admission and apology would show if they have any vestige of contriteness, they should hang their heads.
I am not holding my breath.
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arby
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Post by arby on Apr 15, 2020 13:40:41 GMT
Many on here are all very "Pommy Polite" which is an admirable attribute and all very nice, but it does not stand you in good stead when swimming in shark infested waters. The FS Flagwavers are responsible for untold damage to some people's wealth and need to be called out. As I have said, some sort of admission and apology would show if they have any vestige of contriteness, they should hang their heads. I am not holding my breath. Do you include me in your list of people in need of being "called out"? If anyone did lose money because of my statements then I wholeheartedly wish that could be reversed. While some of my loans have paid out in full since administration began, a few more than I ever expected are showing material deficits, such as Weston Rhyn yesterday. Obviously I'm expecting an overall, but marginal, loss. I hope that the situation for many is not significantly worse than that, but depending on the specific loans you're in I suspect it will be unfortunately. What are you hoping to achieve with this post?
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adrian77
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Post by adrian77 on Apr 15, 2020 14:37:32 GMT
totally agree - wish FS had been so honest when describing their loans - I read yesterday somebody had spoken to a former director and asked about these speedboats -he was told things were going well...
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starfished
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Post by starfished on Apr 15, 2020 14:49:36 GMT
Most of us on here tried valiantly for years to warn others of the FS scam but the Flagwavers would have none of it and continued to vigorously extol the "virtues" of FS. I feel VERY sorry for anyone who began investing or added more to FS Loans after reading the Flagwaver's constant bigging up. Heads have been below parapats of course but an admission that you were totally wrong and an apology of some sort would show you have some integrity. Unlike FS. Come on. We are all adults here and no one should be blaming someone else's forum post for a loss they may have made?! We chose to invest in something offering 12% when the best we can get from a bank is 2%. That extra 10% represented the increased risk we were taking on. Yes FS have been incompetent and possibly they (or their associates) criminal, but that blame should not be shifted to random posters on a board?! Let's be adults here. Full disclosure: FS still remains my highest P2P return despite two ongoing defaults but I pulled out of it a long while ago
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 15, 2020 16:20:05 GMT
Wottasurprise, arby has "Liked" your comment.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Apr 15, 2020 16:25:44 GMT
Many on here are all very "Pommy Polite" which is an admirable attribute and all very nice, but it does not stand you in good stead when swimming in shark infested waters. The FS Flagwavers are responsible for untold damage to some people's wealth and need to be called out. As I have said, some sort of admission and apology would show if they have any vestige of contriteness, they should hang their heads. I am not holding my breath. Do you include me in your list of people in need of being "called out"? If anyone did lose money because of my statements then I wholeheartedly wish that could be reversed. While some of my loans have paid out in full since administration began, a few more than I ever expected are showing material deficits, such as Weston Rhyn yesterday. Obviously I'm expecting an overall, but marginal, loss. I hope that the situation for many is not significantly worse than that, but depending on the specific loans you're in I suspect it will be unfortunately. What are you hoping to achieve with this post? I am hoping, we all are, to hear what your motivations were, in the face of a mountain of irrefutable facts against everything you uttered. You had an agenda, just what was it? What connections did/do you have to FS and/or its Borrowers? Regardless of your answers we will of course never know, but we can surmise.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Apr 15, 2020 16:39:45 GMT
So, they are, as we say in Oz, lower than shark . [ <- Should Have Interesting Times ] Descipable, I suppose shills think they're very clever and "good at business." Dishonest wankers who get what they deserve. PS - No I am not bitter and diid not get overly caught, I just feel VERY sorry for anyone who was taken in, I loathe dishonesty. That is all from me.
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adrian77
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Post by adrian77 on Apr 15, 2020 17:03:05 GMT
When I first invested with FS I thought they could be no worse than unding ircle - got that one wrong - however read his and other people's posts and only put a small amount of money in and then took out what I could. Rather than criticise him for not being adult I would thank you and arise Sir Ozboy your OBE is in the post. I was criticised for my Top 40 and as of today only 2 loans have come good so maybe most of us on this platform have an opinion worthy of being listened to without getting cheap insults.
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arby
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Post by arby on Apr 15, 2020 17:14:58 GMT
Wottasurprise, arby has "Liked" your comment. Yes, I did. Do I have to apologise as per your demands again for that? Or hang my head in shame as per your other request?
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arby
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Post by arby on Apr 15, 2020 17:23:32 GMT
Do you include me in your list of people in need of being "called out"? If anyone did lose money because of my statements then I wholeheartedly wish that could be reversed. While some of my loans have paid out in full since administration began, a few more than I ever expected are showing material deficits, such as Weston Rhyn yesterday. Obviously I'm expecting an overall, but marginal, loss. I hope that the situation for many is not significantly worse than that, but depending on the specific loans you're in I suspect it will be unfortunately. What are you hoping to achieve with this post? I am hoping, we all are, to hear what your motivations were, in the face of a mountain of irrefutable facts against everything you uttered. You had an agenda, just what was it? What connections did/do you have to FS and/or its Borrowers? Regardless of your answers we will of course never know, but we can surmise. So I'll assume from your unhinged rant that I am one of the shills that you go on in your later post to refer to. I pointed out many times that I invested in FS with the complete understanding that losses are very possible and that should have been very obvious from the rates on offer. I have pointed out many of the failures of FS, but the constant screaming and accusations of being a shill with a hidden agenda are moronic. I'm quite relaxed about the honesty of my intentions. As you care so much, please link to my posts which show me refuting the supposed irrefutable facts you refer to. You asked if any flag wavers would admit they were wrong and then said you wouldn't hold your breath. I then admitted i was wrong, apologised, and then you call me a despicable shill and a dishonest wanker. I'll leave it there. You've said enough.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Likes: 4,859
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Post by ozboy on Apr 15, 2020 22:37:02 GMT
arby Member of DD Central Funding Secure (FS DD)
Albion Grove, London - Bridging DEFAULT - FULL RECOVERY
Mar 24, 2019 at 7:35am via mobile cwah likes thisQuotelikePost OptionsPost by arby on Mar 24, 2019 at 7:35am
Mar 23, 2019 at 11:52pm cwah said:
So the developper bought the flat and land for £966k.
Then decide to split it and refinance only based on land......
So if he default, how would the recovery go?
1. Only based on the land at residual value. That may as well sell as low as £200k
2. Based on the 2 flat + land sold previously at £966k, which is likely to make a full recovery + interest.
I can't see any mention of personal guarantee... So whats the chance to recover from the original sold assets? The VR is based on the land only. As is often the case, that is what we have to rely on. If that is anywhere near accurate then the security is fine, however I'm sure we all know one or two instances where valuations have been a little optimistic
The possible difference this time is that planning has been granted, rather than anticipated. Land with planning in London will always have a high residual value, assuming it doesn't lapse...------------------------------------------------------------------- Only "one or two" were "a little optimistic". How about over 90% of the whole damn FS Loan Book where VRs were criminally optimistic. Which many of us warned against time and again but you would argue the toss. Consistently. You asked for proof and I have provided it, so now scurry away and delete all your past incriminating posts. If you haven't already. It will be to no avail, because most of us on here have VERY good memories. I thank you.
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arby
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Post by arby on Apr 15, 2020 23:26:44 GMT
arby Member of DD Central Funding Secure (FS DD)
Albion Grove, London - Bridging DEFAULT - FULL RECOVERY
Mar 24, 2019 at 7:35am via mobile cwah likes thisQuotelikePost OptionsPost by arby on Mar 24, 2019 at 7:35am
Mar 23, 2019 at 11:52pm cwah said:
So the developper bought the flat and land for £966k.
Then decide to split it and refinance only based on land......
So if he default, how would the recovery go?
1. Only based on the land at residual value. That may as well sell as low as £200k
2. Based on the 2 flat + land sold previously at £966k, which is likely to make a full recovery + interest.
I can't see any mention of personal guarantee... So whats the chance to recover from the original sold assets? The VR is based on the land only. As is often the case, that is what we have to rely on. If that is anywhere near accurate then the security is fine, however I'm sure we all know one or two instances where valuations have been a little optimistic
The possible difference this time is that planning has been granted, rather than anticipated. Land with planning in London will always have a high residual value, assuming it doesn't lapse...------------------------------------------------------------------- Only "one or two" were "a little optimistic". How about over 90% of the whole damn FS Loan Book where VRs were criminally optimistic. Which many of us warned against time and again but you would argue the toss. Consistently. You asked for proof and I have provided it, so now scurry away and delete all your past incriminating posts. If you haven't already. It will be to no avail, because most of us on here have VERY good memories. I thank you. I shouldn't jump to conclusions, so I will consider that English may not be your first language and make it clearer: when I said "we all know one or two instances where valuations have been a little optimistic " that sentence is dripping in understated sarcasm. I even included the wink to make it even clearer. There are countless examples of blatant over valuations and I thought we would all agree on that. However, thank you for perfectly proving my point that I was not a blinkered FS cheerleader. Now, will you apologise for calling me a despicable dishonest wanker? Whether we have a difference of opinion or not, that's not warranted.
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ozboy
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Post by ozboy on Apr 16, 2020 3:09:22 GMT
You outed yourself as a person referred to in my Topic, I did not refer to any named individual.
So that's a "No."
You are on record as constantly defending FS' deplorable conduct in the face of overwhelming evidence to the contrary.
Again, the question is, "Why?".
Every poster on here has their own opinions on that and your motivations.
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