mikes1531
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Post by mikes1531 on Feb 25, 2017 23:35:54 GMT
I'm a little surprised that fundingsecure haven't bothered to put an update on the second Malaya Garnet loan, which has an expected end date of 27/Feb. With the first loan overdue and interest continuing to accrue, the position of the second loan is going to deteriorate rapidly. |
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ablender
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Post by ablender on Feb 26, 2017 5:49:18 GMT
I'm a little surprised that fundingsecure haven't bothered to put an update on the second Malaya Garnet loan, which has an expected end date of 27/Feb. With the first loan overdue and interest continuing to accrue, the position of the second loan is going to deteriorate rapidly. It is not the only loan which was left without updates this week. No updates for the Land in Rishton too. Not that the updates were having any meaning beyond - sorry we are slipping again from what we promised you.
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r00lish67
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Post by r00lish67 on Feb 26, 2017 16:16:15 GMT
The various overdue NI Lon***** loans have just had their weekly "ongoing" updates. Not surprising that FS are struggling to flog their latest 'collection', especially given the higher LTV's and potential for chunky percentage administrator costs given the low value of each property.
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tomtom
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Post by tomtom on Feb 27, 2017 15:33:50 GMT
I have asked four times on help line and get the following answers regarding this loan: Agent dealing with this loan is out of office today but will be posting update shortly ( 2 times) We are expecting funds in next 2 days to renew this loan 1 time We are in discussion with the borrower regarding this loan 1 time. Interesting what reply I get when I ask again later this morning. I feel sorry for the ladies who have to keep telling lies on the chat line regarding late loans. ok reply just now from chatroom was an update on this loan will be psoted later today ( theres that pig flying across room again) and also borrower was intending to refinance but whan? Spoke to Daisy again this afternoon and got the usual reply funds expected this week. Told her that someone on Fc was either not doing his job or has been telling lies regarding payemt.
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micky
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Post by micky on Feb 27, 2017 16:21:16 GMT
Re- Property in K*********** (1422136493)
Questions-
1-Assets for this loan included 2x B2L properties. they have not been mentioned recently as security, why not?
2-Also please confirm that the charge for his wife is behind FS loan.
3-Also, what can you tell me about the first charge?
Replies-
1-B2L properties; we have security over these. as they represent a relatively small proportion of total security, we have not commented on this.
2-We have been advised that the wife stands behind us.
3-The first charge is held by Coutts.
Now that wasn't difficult.
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mikes1531
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Post by mikes1531 on Feb 28, 2017 0:06:01 GMT
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micky
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Post by micky on Feb 28, 2017 16:22:42 GMT
I do agree, just got carried away, though. Try to not let it bother you as it doesn't really matter that much.
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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 4, 2017 12:13:48 GMT
Malaya Garnet loan was extended twice with no further extensions 17/02/2017 This debt was due to be paid today. Borrower called up to apologise to say he needed a further 7 days. Whilst we agreed, we will not be accepting many more delays. 10/02/2017 Borrower has requested a further 7 day extension to which we have agreed. The revised repayment date is now 17 February. and today, surprise surprise, has been extended by another month. Any bets if it is a final final extension or just final? 4 hours ago Borower visited us yesterday and requested a further extension until week commencing 24th March. Whilst we would normally not allow such an extension, in view of the good previous repayment history and the rareness of the stone, we agreed. We stressed that this needs to be a firm date and there can be no further extensions beyond. We will, in the meantime, start looking for exits in case this final date is not met. Talk about being lax with our money. So many missed deadlines since January but atill granting another. Come on fs tell is the compelling story about the borrowers character and funds that you so obviously trust. And, yet again, one more thing, stop being damned lazy and post the message on both loans rather than expecting lenders to go searching for it. You only need copy paste once. How difficult can it be?
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Post by cyrilmadrid on Mar 11, 2017 16:59:55 GMT
Today my first loan expiry on FS (Goff) and I am a bit puzzled that no credit was made, no update was provided... low visibility !
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Post by cyrilmadrid on Mar 12, 2017 10:18:52 GMT
Yes, as an investor in AC also, I like the lenders vote and regular update on efforts made to recover the loan.
Problem I had with AC was that progressively, loans have moved to 7-8%, so the Manual Loans does not make much sense, and the GBBA pays 7% but doesnt allow to invest much.
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SteveT
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Post by SteveT on Apr 27, 2017 11:34:29 GMT
Telford loan has just repaid all capital and 532 (!) days interest in full. Well done fundingsecure. |
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 27, 2017 11:39:34 GMT
Telford loan has just repaid all capital and 532 (!) days interest in full. Well done fundingsecure . CREDIT where it's due!
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Steerpike
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Post by Steerpike on Apr 27, 2017 11:40:41 GMT
I had only a token sum in Telford but had got rather used to seeing it at the top of my list of overdue loans.
It looks like FS took a hit on this one, so yes, thanks indeed to FS.
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Liz
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Post by Liz on Apr 27, 2017 12:23:10 GMT
I had only a token sum in Telford but had got rather used to seeing it at the top of my list of overdue loans. It looks like FS took a hit on this one, so yes, thanks indeed to FS. I'm not in this one but I am curious as to why FS would take a hit and how much?
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SteveT
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Post by SteveT on Apr 27, 2017 12:40:00 GMT
I had only a token sum in Telford but had got rather used to seeing it at the top of my list of overdue loans. It looks like FS took a hit on this one, so yes, thanks indeed to FS. I'm not in this one but I am curious as to why FS would take a hit and how much? Slightly enigmatically, the update reads "We have finally received the proceeds from the sale of this property. Due to the receivership costs involved, all the net proceeds have gone to investors with capital and interest being paid in full." It was low value (the 2 loans totalled £50k against an £80k original valuation) so I guess the recovery costs would have been a significant % of the loan. Also, any shortfall would have fallen solely on the junior £20k tranche.
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