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Post by Deleted on Oct 7, 2016 21:52:23 GMT
Good luck, you obviously think you have more 'clout'than everyone else then Maybe he could get them to update the knaresborough loan.  My suggestion would be to start a dedicated thread, writing the title, start date, planned end date and asking FS to give details of the current status. If no answer after a day, email them asking to officially answer the questions. Then log-in the site and ask Lisa to have an update on the loan etc. I think it could be a good test also on FS customer services reactivity. But don't mix everything in a single thread. Let this one continue discussing cashback (and related fears)
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Post by martin44 on Oct 7, 2016 22:03:46 GMT
Maybe he could get them to update the knaresborough loan. My suggestion would be to start a dedicated thread, writing the title, start date, planned end date and asking FS to give details of the current status. If no answer after a day, email them asking to officially answer the questions. Then log-in the site and ask Lisa to have an update on the loan etc. I think it could be a good test also on FS customer services reactivity. But don't mix everything in a single thread. Let this one continue discussing cashback (and related fears) Quite right, i was on the chat board today with Litika (yes that is her/his name) and made a request that updates should be made, at the latest, on loan end date, Litika advised me that , and i quote "we make all our updates every friday" i then checked the latest update on my boatyard pup. monday 3rd of oct.  edit.. Apologies for digressing.
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bg
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Post by bg on Oct 8, 2016 8:14:07 GMT
I think it would be of benefit if they changed the SM so there is just a list of all live loans with the best offered rate alongside each loan. That way it would be easy for people to cycle through and build up a diversified portfolio (if they so wish) which would increase SM sales which in turn give me more confidence to put greater sums into the PM.
Right now it's such a mess.
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Post by Deleted on Oct 9, 2016 9:05:24 GMT
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Oct 10, 2016 10:13:18 GMT
There is another way of calculating the land value, by taking the Gross Development Value and working back. Roughly speaking the the GDV should be split into 3 thirds, 1/3 land, 1/3 building costs, 1/3 profit. In this case Rightmove has 5 flats available within one mile, with asking prices ranging from £125k for 2 beds. The £125k and £126k flats have a similar modern design. The FS loan has PP for 10 flats (9x2bed, 1x3bed). If we assume a selling price of £120k that gives a GDV of £1.2m and a land value of £400k. Then we need to consider the remaining land which doesn't yet have PP, but is earmarked for 18 additional flats. Therefore I think the VR is fairly accurate, and at 56% LTV our loan looks fairly safe.
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Oct 11, 2016 10:48:48 GMT
I put a comment once (to lazy to find it now) that FS is carving a niche for them and because of the 6 month no interest and other things they will need to increase the interest rates. And now we pretty much have 13% as basis with tiered bonuses (kind of simulating underwriters) and occasional cashback. If my accountant wasn't so lazy and FS could produce proper tax statement for LTD company I'd be all over SM. The idea of 20% returns on short term loans, plus possibility of shifting tax liability from seller to buyer has some benefits. I have few overdue property loans so now observing how they will deal with it. I loved FS for their pawn items and now observing how their model works for properties. I generally do not trust any loan nor any platform and spread my investments across 7 sites and hundreds (or even thousand+) of loans. P2P is also a part of my overall portfolio. Hopefully can achieve more than 7% return but time will tell. I wish fundingsecure all the best and keeping my fingers crossed |
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nick
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Post by nick on Oct 11, 2016 13:27:10 GMT
I put a comment once (to lazy to find it now) that FS is carving a niche for them and because of the 6 month no interest and other things they will need to increase the interest rates. And now we pretty much have 13% as basis with tiered bonuses (kind of simulating underwriters) and occasional cashback. If my accountant wasn't so lazy and FS could produce proper tax statement for LTD company I'd be all over SM. The idea of 20% returns on short term loans, plus possibility of shifting tax liability from seller to buyer has some benefits. I have few overdue property loans so now observing how they will deal with it. I loved FS for their pawn items and now observing how their model works for properties. I generally do not trust any loan nor any platform and spread my investments across 7 sites and hundreds (or even thousand+) of loans. P2P is also a part of my overall portfolio. Hopefully can achieve more than 7% return but time will tell. I wish fundingsecure all the best and keeping my fingers crossed I'm considering the same, ie investing in short dated discounted SM loan part via a company, but I'm still trying to measure/gauge whether the incremental return outweighs the the higher risk of loss from holding loans to maturity which is further concentrated by the high churn/short loan duration. One thing I haven't worked out yet is whether interest accrues until right up to settlement if the loan repays late? I know it should under the loan agreement, but does this actually happen in practice?
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SteveT
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Post by SteveT on Oct 11, 2016 13:39:34 GMT
I'm considering the same, ie investing in short dated discounted SM loan part via a company, but I'm still trying to measure/gauge whether the incremental return outweighs the the higher risk of loss from holding loans to maturity which is further concentrated by the high churn/short loan duration. One thing I haven't worked out yet is whether interest accrues until right up to settlement if the loan repays late? I know it should under the loan agreement, but does this actually happen in practice? Yes, interest carries on accruing on all overdue FS loans. Of course, if a loan goes into default, there's no guarantee that enough will be recovered for accrued interest to be paid out in full (or capital, for that matter).
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duck
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Post by duck on Oct 11, 2016 15:09:56 GMT
I'm considering the same, ie investing in short dated discounted SM loan part via a company, but I'm still trying to measure/gauge whether the incremental return outweighs the the higher risk of loss from holding loans to maturity which is further concentrated by the high churn/short loan duration. One thing I haven't worked out yet is whether interest accrues until right up to settlement if the loan repays late? I know it should under the loan agreement, but does this actually happen in practice? I've been doing exactly that for some time now, works for me although you can end up with a lot of loan parts. These loan parts of course need reconciliation when the loan repays so it is wise to have a 'spreadsheet strategy' sorted out in advance. You also need to get an agreement with your accountants on exactly what they will want from you, the FS interest statement doesn't work for this sort of account/strategy so you need to be able to provide solid figures.
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