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Post by green on Apr 9, 2017 14:01:26 GMT
No updates on the boats despite meetings being held
Pretty poor from FS
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Post by savgeax on Apr 9, 2017 14:34:57 GMT
I would not worry too much. There are a number of loans that are weekly updated and as of today have not been updated. Expect something later tonight or tomorrow morning.
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09dolphin
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Post by 09dolphin on Apr 10, 2017 10:28:19 GMT
Quite a few loans that I have an interest in are overdue and haven't had an update.
Reminds me to the story of an airline where passengers judged the safety of the airline on how they cleaned the cabin area. Because the cleaning was poor in the cabin area they decided that the engines were equally poorly maintained so chose another provider because the airline was seen to be too risky. Funding Secure seem to be getting into the area where we can only judge them on the data we have available. If the information FS provide about late or very late repayment of loans is inadequate we might assume that the care they take of investors money is inadequate
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Post by savgeax on Apr 10, 2017 14:27:29 GMT
Looks like loan is on course to be paid this month then with the latest update.
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peteuk
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Post by peteuk on Apr 10, 2017 14:50:49 GMT
Refer you to rishdon loan , fc get people to pay there loans by luck not judgment theres not much they can do about this one, default it and its an old boat now, that no one will want. I dont know who makes up the excuses fc or the borrower. Oh also i won the competition and kept trying to get a day out on it but same again excuses excuses excuses . So i would not bank on getting any money back this year?
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mikes1531
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Post by mikes1531 on Apr 10, 2017 15:37:38 GMT
Looks like loan is on course to be paid this month then with the latest update. : I'm afraid you're being overly optimistic. What I see in the update is...
That looks to me like we're headed for a renewal at best. Anyone who wants to exit the loan will be dependent on either new investors coming forward to take their places, or FS arranging underwriting to cover any shortfall in the funding of the renewal loan.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 11, 2017 10:31:46 GMT
I'm turning purple from holding my breath on this one................................and several others are adding to my purpleness.
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Liz
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Post by Liz on Apr 11, 2017 11:28:49 GMT
I'm turning purple from holding my breath on this one................................and several others are adding to my purpleness. I know that feeling, another one of my loans(non-FS) has missed a payment  Lessons learned, I think.
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shuff27
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Post by shuff27 on Apr 12, 2017 5:34:47 GMT
At last an update on the power boat yesterday: "We received an update from the borrower over the weekend to say that paperwork was going between the lawyers for investment with a deadline of April 30. Once the investment funds are received, interest will be paid up to date."
I'm not sure if this is good news or more FS waffle - any thoughts? Perhaps best case scenario is it's heading for a renewal.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
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Post by ozboy on Apr 12, 2017 14:53:15 GMT
Yep.
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mikes1531
Member of DD Central
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Post by mikes1531 on Apr 12, 2017 17:23:44 GMT
At last an update on the power boat yesterday: "We received an update from the borrower over the weekend to say that paperwork was going between the lawyers for investment with a deadline of April 30. Once the investment funds are received, interest will be paid up to date." I'm not sure if this is good news or more FS waffle - any thoughts? Perhaps best case scenario is it's heading for a renewal. The same update was posted for the Endurance boat. The question in my mind is what will happen if those loans, totalling nearly £2M, all come up for renewal at once. What proportion of existing investors will be willing to roll their investments forward? Based on the borrower's performance so far, I'd be surprised if as much as half do. So will there be enough new money added to fully fund the renewal loans? Good question!
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09dolphin
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Post by 09dolphin on Apr 30, 2017 10:25:46 GMT
New update posted today.
In view of the difficulty the borrowers have had in raising funds to repay interest + the increasing age of the boat it will be a loan where I'll take the interest but wouldn't consider renewal
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Liz
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Post by Liz on Apr 30, 2017 11:24:40 GMT
New update posted today.
In view of the difficulty the borrowers have had in raising funds to repay interest + the increasing age of the boat it will be a loan where I'll take the interest but wouldn't consider renewal I bet you will be happy  I won't be taking on your loan parts IF listed as a renewal. Barge poll for me. The asset will only keep falling in value and get harder to sell.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Apr 30, 2017 11:43:37 GMT
C'mon ozboy, don't be shy, let it out! You know it will make you feel better😈 |
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elliotn
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Post by elliotn on Apr 30, 2017 11:46:20 GMT
I was hoping for ozboy 's feedback on the request for VR feedback to send to Ly on the Glouc thread too! |
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Lessons learned, I think.
