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Post by mrclondon on Jan 7, 2015 13:21:44 GMT
Hmm. A 12k loan at 13% against two Hubolt Watches taken out on 1st December was repaid today just over a month later. But one of these watches is being used as security for a new £5k loan (similiar LTV) at only 11% due to go live 4pm today. Not happy.  |
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 7, 2015 13:25:56 GMT
Hmm. A 12k loan at 13% against two Hubolt Watches taken out on 1st December was repaid today just over a month later. But one of these watches is being used as security for a new £5k loan (similiar LTV) at only 11% due to go live 4pm today. Not happy. My thoughts exactly. Are we sure it's one of the same watches or just a Big Bang Theory? 
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jan 7, 2015 15:34:40 GMT
LTV in excess of 70% and only offering 11%. I expect there'll be plenty of takers, as usual, but I won't be one of them.
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jjc
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Post by jjc on Jan 7, 2015 15:54:33 GMT
there was also a Hublot watch (10k value, 7k loan) taken out on 4th Oct that repaid just 3 weeks later on 28th. Could be the same twitchy borrower I suppose (someone with a peculiar love/hate relationship with time ;-))
but I'd wager/hope these are different peeps (& this one came through a different channel hence lower rate)
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mikes1531
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Post by mikes1531 on Jan 7, 2015 16:01:54 GMT
Hmm. A 12k loan at 13% against two Hubolt Watches taken out on 1st December was repaid today just over a month later. But one of these watches is being used as security for a new £5k loan (similiar LTV) at only 11% due to go live 4pm today. Not happy. My thoughts exactly. Are we sure it's one of the same watches or just a Big Bang Theory? Only fundingsecure would know for sure, but the photo and description in the email announcing the new loan look identical to the photo and description for the loan that was repaid earlier today. Even the typos are the same! I'm going to watch this one as well -- though I might put in a token £25 bid just so that I can continue to keep an eye on the loan.
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bugs4me
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Post by bugs4me on Jan 7, 2015 16:52:35 GMT
LTV in excess of 70% and only offering 11%. I expect there'll be plenty of takers, as usual, but I won't be one of them. Amen to that RR - will no doubt fill but not as speedy as usual - 11% perhaps?
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Post by mrclondon on Jan 7, 2015 17:06:32 GMT
Are we sure it's one of the same watches or just a Big Bang Theory? Now confirmed on the new listing as being the same borrower. there was also a Hublot watch (10k value, 7k loan) taken out on 4th Oct that repaid just 3 weeks later on 28th. Could be the same twitchy borrower I suppose (someone with a peculiar love/hate relationship with time ;-)) Well spotted, yes that was the other watch that was redeemed this morning. That original October loan was also at 13%. Sometimes fundingsecure make problems for themselves by keeping borrower history private ... a reliable repayer over several loans MIGHT justify 11% return IF the LTV was less that 70%.
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mikes1531
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Post by mikes1531 on Jan 7, 2015 18:18:06 GMT
All funded now. It took about two hours to fill completely -- about ten minutes for the first half, then bids slowed to a trickle. Probably exactly what FS would like to see happen.
On a related point... I think FS need to change their adverts before someone comes down on them with a thump. The one at the top of this page shows "13% return p.a." in big bold letters, with no sign of an 'up to' anywhere.
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