cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on Mar 6, 2017 16:11:52 GMT
Wow. foxy - I would suggest that SS is not the right platform to place your money. SS is a hands on platform; they ask you to do your own DD. Please don't let the high rates blindside you; if you want hands-off look at safer options such as RS or Bondmason You say "wow", but I find the honesty refreshing. I suspect that the users of this forum are in the minority of investors who DON'T see SS this way. If you did a survey of all investors, I strongly suspect you would find a very disappointing majority take the same approach, snaffling up anything in the pipeline/on the SM because others are competing for it so it must be good, etc. etc. I don't doubt it - I think that is why loans are filling so easily and SS are able to drop lender rates (whilst maybe, possibly keeping the borrower rate the same... ).
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Post by dualinvestor on Mar 6, 2017 16:20:31 GMT
Wow. foxy - I would suggest that SS is not the right platform to place your money. SS is a hands on platform; they ask you to do your own DD. Please don't let the high rates blindside you; if you want hands-off look at safer options such as RS or Bondmason You say "wow", but I find the honesty refreshing. I suspect that the users of this forum are in the minority of investors who DON'T see SS this way. If you did a survey of all investors, I strongly suspect you would find a very disappointing majority take the same approach, snaffling up anything in the pipeline/on the SM because others are competing for it so it must be good, etc. etc. It is probable that the users of this forum, including Guests, are in the minority of lenders on SS (and most, if not all, of the other platforms) full stop. Few people will be fully aware of the risks, seeing a headline rate, maybe the, so far correct, claim by SS that no-one has lost anything, and ploughing their money in. Financial scandals since time immemorial, but certainly since the Tulip Bulb Scandal of the seventeenth century, have been based on lack of knowledge, whether it is because of a bubble or downright fraud. Common sense tells anyone that returns of 12% must come with risk when government guaranteed deposits yield around 1% but people are oblivious to it. If and when bad debts occur there will be much wailing and gnashing of teeth, probably accompanied by calls for compenstation, as has happenned with Barlow Clowes, BCCI, thhe Icelandic Banks, maybe tighter regulation by restricting the class of person who can "invest," but until then the knowledgable can take advantage of the gullible unless of course the SM freezes up suddenly 
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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 Mar 7, 2017 0:01:16 GMT
Oh Gawd, I feel one of my FCA and Lemmings rants coming on again.
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stokeloans
Member of DD Central
Posts: 402
Likes: 485
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Post by stokeloans on Apr 6, 2017 17:19:34 GMT
So Lendy have coughed up £300,000 of their own money to carry out the remedial work on this property.That's some expensive alterations.
Anyway,it would appear it's almost finished.
Has the original buyer disappeared from the scene ?
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Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
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Post by Liz on Apr 6, 2017 17:27:38 GMT
So Lendy have coughed up £300,000 of their own money to carry out the remedial work on this property.That's some expensive alterations. Anyway,it would appear it's almost finished. Has the original buyer disappeared from the scene ? Maybe it is the same guy who bid £50k for a five-pound note on ebay.
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vmail
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Posts: 457
Likes: 217
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Post by vmail on Apr 6, 2017 18:48:31 GMT
The 300k came from the PF
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seeingred
Member of DD Central
Posts: 470
Likes: 664
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Post by seeingred on Apr 6, 2017 18:52:57 GMT
The 300k came from the PF ?? But I trust will be put back into the PF if and when the property is sold for a sufficient sum?
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vmail
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Posts: 457
Likes: 217
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Post by vmail on Apr 6, 2017 18:55:50 GMT
Don't trust any comments I make that does not include any evidence.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
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Post by ilmoro on Apr 6, 2017 18:56:12 GMT
The 300k came from the PF Based on what? 'We are lending the client the funds to fix the unauthorised building works out of our own capital.'
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vmail
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Posts: 457
Likes: 217
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Post by vmail on Apr 6, 2017 22:34:42 GMT
Don't trust any comments I make that does not include any evidence. That's not nice, first you attack Paul, and now me.
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Apr 11, 2017 2:46:55 GMT
The 300k came from the PF Based on what? 'We are lending the client the funds to fix the unauthorised building works out of our own capital.' Have LfSS said anything about the priority of the additional lending they have made relative to the investments made by PBL081 investors? On 4/Mar I asked SS... The response I received from George 16 days later was ... I call it a response rather than an answer because it clearly does not address my question, much less answer it. If you ever need an example of a non sequitur, feel free to use this one. Needless to say, I've had to ask my question again.
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Apr 25, 2017 17:11:43 GMT
Have LfSS said anything about the priority of the additional lending they have made relative to the investments made by PBL081 investors? On 4/Mar I asked SS... The response I received from George 16 days later was ... I call it a response rather than an answer because it clearly does not address my question, much less answer it. If you ever need an example of a non sequitur, feel free to use this one. Needless to say, I've had to ask my question again. Well, it's taken a bit over seven weeks, but I finally have received an answer from George to my question... I take that last sentence to be very good news. It's almost enough to make me willing to hold parts in this loan!
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fp
Posts: 1,008
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Post by fp on Apr 26, 2017 5:49:44 GMT
Seven weeks to reply? Seriously savingstream, that is just taking the proverbial urine 😮 |
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Apr 26, 2017 12:11:18 GMT
Seven weeks to reply? Seriously savingstream , that is just taking the proverbial urine 😮 To be fair, it didn't take seven weeks for me to get a reply, but it did take seven weeks for me to get an answer. (As reported above, the first reply I got didn't address my question, so I had to ask it again.) I don't know whether that's better or worse than taking seven weeks to get a reply. 
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will
Member of DD Central
Posts: 98
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Post by will on May 11, 2017 15:43:55 GMT
A recent update for anyone still stuck in this loan
If that £4m comment holds up, then hopefully this loan will be sorted without issue.
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