blender
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Post by blender on Dec 21, 2018 8:51:53 GMT
As long as the insurers agree.
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benaj
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Post by benaj on Dec 21, 2018 9:26:56 GMT
Can’t someone just get a cheaper 11k loan elsewhere like zopa?
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arby
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Post by arby on Dec 21, 2018 10:33:42 GMT
Can’t someone just get a cheaper 11k loan elsewhere like zopa? Don't zopa do a credit check? The whole point of FS is that there aren't any checks on the borrower, it is purely up to us investors to determine if we believe the asset provides sufficient security (while obviously trusting FS to adequately register any charges!)
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benaj
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Post by benaj on Dec 21, 2018 10:36:42 GMT
I think nowadays some platforms like zopa do soft credit check for quoting.
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ozboy
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Post by ozboy on Dec 21, 2018 11:12:01 GMT
I haven't dipped in this one yet and I fail to understand the reason for this renewal and increase. 2014240573 is live for 42 days and it has been renewed a number of times on FS. Original loan amount is 25k back in 22.5.2015. Total interest received for investors is 9.2k. This renewal and increase is 36k??? It's stated in the description that the borrower wants more money and FS felt comfortable that the LTV was such that the asset could support a larger loan. And FS are experts at Valuations, so that's alright then.  PS / EDIT: Funny how FS can get involved and "value" an asset reasonably accurately when they want to, isn't it? 
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arby
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Post by arby on Dec 21, 2018 11:24:17 GMT
It's stated in the description that the borrower wants more money and FS felt comfortable that the LTV was such that the asset could support a larger loan. And FS are experts at Valuations, so that's alright then. PS / EDIT: Funny how FS can get involved and "value" an asset reasonably accurately when they want to, isn't it? I get your point, but a marketable car is pretty basic to value.
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ozboy
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Post by ozboy on Dec 21, 2018 11:30:47 GMT
arby, EVERYONE on here knows that a schoolboy desktop property valuation using LR/RightMove/Etc provides a FAR more realistic valuation than the valuations loaned against. Even with DFLs a punter's quick fag packet valuation is consistently more realistic (ie accurate) as well.
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arby
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Post by arby on Dec 21, 2018 11:41:16 GMT
arby, EVERYONE on here knows that a schoolboy desktop property valuation using LR/RightMove/Etc provides a FAR more realistic valuation than the valuations loaned against. Even with DFLs a punter's quick fag packet valuation is consistently more realistic (ie accurate) as well. My mistake, I thought we were discussing a loan on a Jaguar.
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benaj
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Post by benaj on Dec 21, 2018 11:52:46 GMT
it’s true some E Types are being sold over 100k
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ozboy
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Post by ozboy on Dec 21, 2018 12:32:30 GMT
I'm well aware what E Types are worth, and I think everyone gets my point.
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arby
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Post by arby on Dec 21, 2018 12:34:20 GMT
I'm well aware what E Types are worth, and I think everyone gets my point. That we should use rightmove to value this Jag?  On a property sale I do agree with you that a few simple checks we can do ourselves can be a good barometer as to what will happen if things go wrong.
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rogerthat
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Post by rogerthat on Jun 21, 2019 12:34:17 GMT
I see a renewal is up for 2pm today (assuming this is the same E Type ? ) but was just curious about the following :-
General Information
This is a renewal of loan ref 2367022896. This means the borrower has paid the interest to-date to extend the loan for a further 6 months
This is a standard six month loan secured against an E Type Jaguar which is stored in a secure unit and held under our control.
Asset
Fabulous Series 1, 1966, E-type Jaguar, 3.8 Roadster, in red. Driven regularly by the owner, the vehicle is in good condition overall, with minor scuff marks on the body due to general wear and tear. The convertible roof is in good working order and water tight when raised.
Well the above statements cant both be right..maybe ive got the wrong E Type ?
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arby
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Post by arby on Jun 21, 2019 12:43:32 GMT
I see a renewal is up for 2pm today (assuming this is the same E Type ? ) but was just curious about the following :- General InformationThis is a renewal of loan ref 2367022896. This means the borrower has paid the interest to-date to extend the loan for a further 6 months This is a standard six month loan secured against an E Type Jaguar which is stored in a secure unit and held under our control.
Asset
Fabulous Series 1, 1966, E-type Jaguar, 3.8 Roadster, in red. Driven regularly by the owner, the vehicle is in good condition overall, with minor scuff marks on the body due to general wear and tear. The convertible roof is in good working order and water tight when raised. Well the above statements cant both be right..maybe ive got the wrong E Type ? You may well be right, but the statements are not mutually exclusive. The car may well have been regularly driven by the owner at the point of valuation, but then stored once the loan was accepted.
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Post by mrclondon on Jan 14, 2020 14:46:34 GMT
Loan defaulted on website on 2nd January 2020.
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