stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 27, 2017 12:11:57 GMT
No condition report. "No survey due to low ltv". 10% interest rate.
We have no idea about the condition of the property. It could have subsidence or be subject to restrictions which we are not made aware of.
I can understand not wanting to spend money on an expensive survey but a report from an estate agency may help verify the borrower supplied "valuation".
Land alone should cover the loan.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 27, 2017 12:50:25 GMT
I webchatted FS this morning as this was another one about to go live with no info at all on the "Forthcoming Loans" section, just like Lytham St Annes yesterday Asked about and D then added the "First Charge" to Barnoldswick, asked also and told it's 2 bedrooms, but this info not added to the particulars.
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r00lish67
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Post by r00lish67 on Sept 24, 2017 11:48:06 GMT
I'm admittedly quite relaxed about this one (9021250438) given the LTV, but given our last update indicated repayment by 1st September, could we have an update on this one please fundingsecure ? 28/08/2017: Borrower has advised they will be in a position to pay by the end of this week.
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michaelc
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Post by michaelc on Feb 11, 2018 16:20:29 GMT
Looks like that one renewed but the renewal is now late. Suits me if it carries on for another year so long as I get my principle and interest back which seems quite possible in this case...
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rogerthat
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Post by rogerthat on Feb 11, 2018 17:10:20 GMT
Looks like that one renewed but the renewal is now late. Suits me if it carries on for another year so long as I get my principle and interest back which seems quite possible in this case... Ive got a few sheckles in this as well..isn't this being re-financed with another lender ? 10/02/2018 We spoke with the borrower this week who has indicated that the refinance should be completed within the next 2 weeks. ..but I'm in no rush either
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r00lish67
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Post by r00lish67 on Feb 11, 2018 17:26:49 GMT
Looks like that one renewed but the renewal is now late. Suits me if it carries on for another year so long as I get my principle and interest back which seems quite possible in this case... Not quite. The renewal of this exact loan is still ticking along (1079396222), and ends on 12/04/2018. At 20% LTV, I share your lack of concern, in any case. However, there is an additional borrowing loan against the same property (3139320212), which is late. I wouldn't be quite as sanguine about that one, as the stated LTV is a fag-packet 65% against a low value property. Then, just to add spice to proceedings, there's another two loans against a different property in the same village with, I believe, the same borrower which FS have decided in time-honored fashion to call the same name (2861004433, 8010286828). They're late too. Furthermore, there's another loan (1764214549), which given the commonality of updates is almost certainly the same borrower as well. They rather rudely however situated the property in Burnley rather than Barnoldswick, which made it almost possible to distinguish between loans without requiring a spreadsheet and a magnifying glass. Most unusual. That's late as well. So, to summarise, if you're in the first, then breathe easy. Elsewhere, well, as the saying goes, your interest will continue to accrue..
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james21
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Post by james21 on Feb 11, 2018 17:42:07 GMT
Looks like that one renewed but the renewal is now late. Suits me if it carries on for another year so long as I get my principle and interest back which seems quite possible in this case... Not quite. The renewal of this exact loan is still ticking along (1079396222), and ends on 12/04/2018. At 20% LTV, I share your lack of concern, in any case. However, there is an additional borrowing loan against the same property (3139320212), which is late. I wouldn't be quite as sanguine about that one, as the stated LTV is a fag-packet 65% against a low value property. Then, just to add spice to proceedings, there's another two loans against a different property in the same village with, I believe, the same borrower which FS have decided in time-honored fashion to call the same name (2861004433, 8010286828). They're late too. Furthermore, there's another loan (1764214549), which given the commonality of updates is almost certainly the same borrower as well. They rather rudely however situated the property in Burnley rather than Barnoldswick, which made it almost possible to distinguish between loans without requiring a spreadsheet and a magnifying glass. Most unusual. That's late as well. So, to summarise, if you're in the first, then breathe easy. Elsewhere, well, as the saying goes, your interest will continue to accrue.. 212 is a first charge but ranks behind another 9021250438 not shown above (so in effect is a 2nd to my way of thinking)
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james21
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Post by james21 on Feb 11, 2018 17:47:49 GMT
Not quite. The renewal of this exact loan is still ticking along (1079396222), and ends on 12/04/2018. At 20% LTV, I share your lack of concern, in any case. However, there is an additional borrowing loan against the same property (3139320212), which is late. I wouldn't be quite as sanguine about that one, as the stated LTV is a fag-packet 65% against a low value property. Then, just to add spice to proceedings, there's another two loans against a different property in the same village with, I believe, the same borrower which FS have decided in time-honored fashion to call the same name (2861004433, 8010286828). They're late too. Furthermore, there's another loan (1764214549), which given the commonality of updates is almost certainly the same borrower as well. They rather rudely however situated the property in Burnley rather than Barnoldswick, which made it almost possible to distinguish between loans without requiring a spreadsheet and a magnifying glass. Most unusual. That's late as well. So, to summarise, if you're in the first, then breathe easy. Elsewhere, well, as the saying goes, your interest will continue to accrue.. 212 is a first charge but ranks behind another 9021250438 not shown above (so in effect is a 2nd to my way of thinking) to add; 2861004433 is also a 2nd
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rogerthat
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Post by rogerthat on Feb 11, 2018 17:58:28 GMT
212 is a first charge but ranks behind another 9021250438 not shown above (so in effect is a 2nd to my way of thinking) to add; 2861004433 is also a 2nd I have roughly 5% in loan ending 222 which according to my stats is only 123 days in (and is a buy to let) LTV 20.41% 95 % (7 slices) in loan ending 6828 (big f**mhouse) which is anything between 242 & 248 days in..and is the subject of the refinance I posted earlier
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mikes1531
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Post by mikes1531 on Feb 11, 2018 21:31:17 GMT
to add; 2861004433 is also a 2nd I have roughly 5% in loan ending 222 which according to my stats is only 123 days in (and is a buy to let) LTV 20.41% 95 % (7 slices) in loan ending 6828 (big f**mhouse) which is anything between 242 & 248 days in..and is the subject of the refinance I posted earlier If I were in 4433 (I'm not) I'd be getting nervous. That loan's LTV started out at 70%, but that loan is now nine months old, and the first charge loan (6828) -- which I am in -- is about eight months old. Including all the accrued FS interest/fees, the LTV would be about 80% now, and I don't expect that getting a loan for that amount will be particularly easy for the borrower. If they have some funds they can put into the process, or if there's been a new VR showing an increased value, then there shouldn't be a problem. If not, however ...
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michaelc
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Post by michaelc on Feb 11, 2018 22:25:40 GMT
I have roughly 5% in loan ending 222 which according to my stats is only 123 days in (and is a buy to let) LTV 20.41% 95 % (7 slices) in loan ending 6828 (big f**mhouse) which is anything between 242 & 248 days in..and is the subject of the refinance I posted earlier If I were in 4433 (I'm not) I'd be getting nervous. That loan's LTV started out at 70%, but that loan is now nine months old, and the first charge loan (6828) -- which I am in -- is about eight months old. Including all the accrued FS interest/fees, the LTV would be about 80% now, and I don't expect that getting a loan for that amount will be particularly easy for the borrower. If they have some funds they can put into the process, or if there's been a new VR showing an increased value, then there shouldn't be a problem. If not, however ... Yes 6828 is the one I'm in also. I've also checked 6222 and I'm in that but for a modest amount. Maybe there was an investment cap I can't recall because in an ideal world I'd put the full 20K in !
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Post by gaspilot on Mar 7, 2018 12:23:15 GMT
The refinance was due yesterday. Sadly, no news as yet.
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Post by gaspilot on Mar 22, 2018 19:41:26 GMT
I'm guessing this will be the next default on 29th.
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rogerthat
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Post by rogerthat on Mar 22, 2018 21:28:46 GMT
I'm guessing this will be the next default on 29th. Nothing is certain in life, other than death and taxes, however should this default Id suggest there is more than enough collateral to clear the loans
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Liz
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Post by Liz on Mar 22, 2018 21:54:59 GMT
THere is also 2 barnoldswick loans(1 asset) which says an ultimatum of 30th march.
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