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Post by cpaken on Aug 21, 2016 15:26:09 GMT
I'm surprised no one has opened a thread about this loan yet, so here it is  |
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Steerpike
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Post by Steerpike on Aug 21, 2016 16:39:32 GMT
I received an email from FS on 18th August that includes an update on this loan and stresses that the information is confidential and not to be quoted or posted, so I haven't done so, primarily because I do not wish to prejudice the chances of getting my money back.
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Post by polonius on Aug 21, 2016 18:25:03 GMT
No new thread opened but some discussion on the defaulted loans thread, somewhat premature in my opinion since the loan still has a few days to run.
Does anyone know the condition of the security? At commencement 6 months ago it was described as ready to connect to the grid so it should have been generating a good return on investment for some months now.
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mason
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Post by mason on Aug 21, 2016 19:02:49 GMT
I'm grateful for this thread as I hadn't noticed the update that was posted to the loan and despite being a lender didn't receive the email. Update now received and I must say I'm quite pleased with the half hour response time to my email query on a Sunday evening.
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Post by doorway on Aug 28, 2016 15:50:53 GMT
I sold this loan very early on, when a very quick internet search seemed to indicate that a 225kw turbine should be £250,000.
Sorry to say, I did not enquire whether the said turbine was in a Shenzen factory, or mounted in National Wild Life park.
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ben
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Post by ben on Aug 28, 2016 16:27:19 GMT
One I never bothered with either seemed to me for it get the value they wanted it had to pretty much had to generate 100% of what it was capable of and wind turbines never do, so avoided it.
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r00lish67
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Post by r00lish67 on Feb 23, 2017 8:50:23 GMT
Apologies if this has been addressed before but just looking ahead to tax season and the offsetting of capital in defaulted loans, is there a reason this one hasn't been defaulted? Appreciate efforts are very much ongoing to sort out this mess, but aren't they more recovery of default type efforts rather than 'loan active'?
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r1200gs
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Post by r1200gs on Feb 25, 2017 9:48:23 GMT
Apologies if this has been addressed before but just looking ahead to tax season and the offsetting of capital in defaulted loans, is there a reason this one hasn't been defaulted? Appreciate efforts are very much ongoing to sort out this mess, but aren't they more recovery of default type efforts rather than 'loan active'? I would quite like to know as well. Bumping this up in case somebody has an answer.
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r00lish67
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Post by r00lish67 on Mar 3, 2017 8:48:32 GMT
Can't comment on any specifics, but this morning's update is pretty grim reading from an investor's perspective. I've asked the same question again re: whether it's appropriate to default it.
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Steerpike
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Post by Steerpike on Mar 3, 2017 10:01:09 GMT
As you say we can't go in to details, but I was mildly encouraged by the update, perhaps my expectations were lower than yours.
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r00lish67
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Post by r00lish67 on Mar 3, 2017 10:19:49 GMT
I wasn't particularly expecting great things, but I'm glad you guys interpret it more positively than I do and very much hope you're right.
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sb
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Post by sb on Mar 3, 2017 10:23:50 GMT
What is expected recovery rate on this loan based on the confidential email?
I don't own this own but I would like to get some understanding what the recovery rates are for this type of loans on FS.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Mar 3, 2017 10:29:55 GMT
Putting the loan into default would start a process that is in conflict with what they are trying to achieve by the look of it. I have asked if any claim has been made against the valuers insurance for errors made. I await a response without holding my breath.
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r00lish67
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Post by r00lish67 on Mar 3, 2017 10:32:02 GMT
stub8535 , I think it's fair to say it's unclear at the moment and it would just be speculation on our part to hazard a guess. On another note, FS have just responded to my question regarding defaulting of the loan to advise that it is currently under consideration and that a decision will be made before the end of the month.
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r1200gs
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Post by r1200gs on Mar 3, 2017 10:38:34 GMT
The thing I am learning on my long P2P learning curve, is I might like to get in on the receivership business. I'm really not too optimistic about this one at all.
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