Liz
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Post by Liz on May 6, 2017 14:44:08 GMT
Defaults and losses are to be expected of course. I don't see where you get the below 6% figure. It is far too early to know what losses and what will be recovered. Personally, I would rather invest in 10-11% safer loans on FS, but there aren't many. I would be delighted with 6%. I am anticipating a negative figure unless they discover oil on the NI Turbine site. peteuk was talking about long term returns of 6% on all p2p investments, not the Boatyyard.
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SteveT
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Post by SteveT on May 6, 2017 15:08:13 GMT
Interesting update just added: " We are in discussions with a potential buyer for the site. He is arranging his own valuation but has advised he can move quickly if a price can be agreed" I'd be happy to agree on Loan + Accrued Interest + Fees To Date + £1
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ozboy
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Post by ozboy on May 6, 2017 15:17:28 GMT
I'd like to be a fly on the wall during negotiations .................................
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littleoldlady
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Post by littleoldlady on May 6, 2017 15:25:54 GMT
I would be delighted with 6%. I am anticipating a negative figure unless they discover oil on the NI Turbine site. peteuk was talking about long term returns of 6% on all p2p investments, not the Boatyyard. Yes I know, and I am referring to all my loans on FS, about 50 since 2015, and my total interest earned is substantially less than the amount FS have suggest I claim as a loss on this years tax return. Of course there may be some recovery. If it is enough to give me a net 6% from the platform I shall be delighted.
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littleoldlady
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Post by littleoldlady on May 6, 2017 15:30:28 GMT
Interesting update just added: " We are in discussions with a potential buyer for the site. He is arranging his own valuation but has advised he can move quickly if a price can be agreed" I'd be happy to agree on Loan + Accrued Interest + Fees To Date + £1 I don't know they they say "We". They do not have possession so can't do a deal.
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Liz
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Post by Liz on May 6, 2017 15:40:01 GMT
peteuk was talking about long term returns of 6% on all p2p investments, not the Boatyyard. Yes I know, and I am referring to all my loans on FS, about 50 since 2015, and my total interest earned is substantially less than the amount FS have suggest I claim as a loss on this years tax return. Of course there may be some recovery. If it is enough to give me a net 6% from the platform I shall be delighted. Oh! Which other loans do you have in default to expect a negative return?
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Post by martin44 on May 6, 2017 16:15:14 GMT
I think i might take the latest update with the same pinch of salt as the last 50..... Yes 50 updates.
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littleoldlady
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Post by littleoldlady on May 6, 2017 17:14:36 GMT
Yes I know, and I am referring to all my loans on FS, about 50 since 2015, and my total interest earned is substantially less than the amount FS have suggest I claim as a loss on this years tax return. Of course there may be some recovery. If it is enough to give me a net 6% from the platform I shall be delighted. Frankly if it is enough to put me in the black I will be both surprised and pleased. Oh! Which other loans do you have in default to expect a negative return? Reference Title Last Updated Rate Days Active Date Ending Status 1442701959 South Wales Property 22/04/2017 12% 638 06/02/16 Unredeemed * 1922610905 Scottish Boatyard 3 hours ago 13% 660 15/01/16 Unredeemed * 6742133163 NI Wind Turbine 30/04/2017 12% 439 23/08/16 Unredeemed I have learned one valuable lesson. Do not lend to properties outside English jurisdiction.
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ozboy
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Post by ozboy on May 21, 2017 20:21:21 GMT
21/5/16 - Jock Boatyard - The buyer has completed his due diligence and is keen to buy. We are negotiating over the price.
GO FunSec! Negotiate skillfully, there should be enough fat still left on this for it to end acceptably
Or sue The Valuers. And I'm NOT joking.
fundingsecure
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ashtondav
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Post by ashtondav on May 22, 2017 6:38:03 GMT
Forced seller, astute buyer. I'm afraid it's unlikely to turn out good for us.
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littleoldlady
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Post by littleoldlady on May 22, 2017 10:36:27 GMT
This could be a good long term investment for the buyer as we reclaim our traditional fishing grounds up to 200 miles and start to rebuild our fishing fleet which was decimated by the CFP.
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oldgrumpy
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Post by oldgrumpy on May 22, 2017 11:14:51 GMT
This could be a good long term investment for the buyer as we reclaim our traditional fishing grounds up to 200 miles and start to rebuild our fishing fleet which was decimated by the CFP. Let's hope FS think in those terms and don't drop the price too much because of buyer haggling. (See my post of 24 May 2016).
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ozboy
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Post by ozboy on May 22, 2017 12:19:37 GMT
We have the age old, perennial problem don't we.
Whilst they have a reputation to protect, etc, etc, it's not the Platform's money at stake.
Hopefully FS will negotiate skilfully as I have said.
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merlin
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Post by merlin on May 22, 2017 16:17:47 GMT
I saw something a week or so ago that suggested that our fishing was not part of the original EU deal but was negotiated by Ted Heath before the deal to join the then "Common Market". Thus Brexit would not automatically give us back our fishing. I hope I was misinformed but would not be at all surprised if Heath had not screwed us back then just to get us into the Market.
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09dolphin
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Post by 09dolphin on May 22, 2017 18:34:54 GMT
This is a commercial loan that is somewhat overdue.
FS have accepted on our behalf the numerous assurances given by the borrower over the past 18 months which we have had no choice but to accept.
Now FS have found someone who is prepared to buy the asset. Will we have a choice as to if we are prepared to accept the offer?
Seems to me that investors are powerless and have to accept whatever FS deem appropriate
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