syalith
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Post by syalith on Jan 17, 2018 14:25:40 GMT
The discount on this has now reached the maximum 1% so anyone who hasn't sold is now likely stuck with this until the end.
I managed to get all mine sold with minimal loss by undercutting the largest discount each time until it was all gone and I'm glad I did.
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syalith
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FundingSecure (FS) in Administration
Diversification
Dec 19, 2017 19:18:04 GMT
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Post by syalith on Dec 19, 2017 19:18:04 GMT
I don't have any maximum investment. If a loan is good enough for £100 then it is good enough for £100,000. If I'm not 100% sure about it then I won't invest at all.
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syalith
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Post by syalith on Dec 8, 2017 23:42:57 GMT
I invested in this without reading the valuation because I woke up too late, I assumed at 30% it would be safe but now that I've had a read the security for this loan appears to be a patch of grass next to a railway line. I could wait for a few months and sell at 1% discount and at least make something on it but that is taking the chance that there will always be a buyer waiting on the secondary market which may not always be the case. The economy could take a turn for the worse and suddenly no one wants to invest in risky loans like this and I'm stuck waiting for this patch of grass to sell for £300k to get my money back. Much better to sell now for a small loss and invest in better, safer loans of which there are plenty.
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syalith
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Post by syalith on Dec 8, 2017 19:30:06 GMT
If anyone wants to take a chance on this one and missed it yesterday I am selling my £10k for a discount to get rid of it quickly.
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syalith
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Post by syalith on Oct 15, 2017 12:15:01 GMT
I'm not invested in this loan, but had a quick look out of interest and can see on rightmove that it last sold for £62,000 in August 2016. The borrower supposedly used the loan to refurbish the property so assuming that actually took place, the value should have increased slightly.
I don't think you need to be too worried as even if the borrower does not repay, it's a first charge so you should at least get back the vast majority of your capital even in the worst case scenario.
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syalith
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Post by syalith on Oct 12, 2017 13:09:52 GMT
What I haven't worked out is what happens if I buy a part via my ISA. I've just checked the investment list of the loan I most recently bought for my ISA, and I don't see an entry corresponding to that purchase. Do those purchases not make it to the list at all? Do they appear on the list, but with a different UserID? I haven't a clue! I'll try to remember to check the list just after I make a purchase to see if I can spot a new entry. If I really wanted to be nerdy, I would capture the list immediately before and after the purchase and play spot the difference. If mine was the only purchase between those two snapshots, I ought to be able to see my purchase -- and see who I bought the part from. But it's probably not worth all the effort! Your ISA account just has "ISA" added on to your normal username. For example, if your normal account username was "mikes1531" then your ISA account would be named "mikes1531 ISA" and would show up in the investments list as "m***********A".
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syalith
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Post by syalith on Oct 10, 2017 12:23:47 GMT
Nobody is getting preferential treatment. They are just faster than you, or have a faster connection than you. Multiple times now I have been the first one to invest in these fastest finger first loans from just my home connection and clicking as quickly as I can, even one time managing to do it from my laptop at the roadside in Germany.
This was a renewal of a low LTV loan, obviously there was not going to be much available, and obviously there was going to be lots of people interested in it. You didn't try hard enough and you missed out. Big deal, move on. Stop making a mountain out of a molehill.
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syalith
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Post by syalith on Sept 7, 2017 16:48:54 GMT
I got £35k, no special treatment, no pre-allocated investment, I simply refreshed the site repeatedly until I saw it available and as quick as I could selected the amount and clicked invest. In fact I managed to do this from my laptop in my car whilst stopped at a motorway services in Germany.
I will admit though it's getting harder to get invested but not impossible, and still better than limiting it to £25 as everyone here seems to be calling for. My suggestion would be to lower the interest rate but you would all whine about that too.
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syalith
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Post by syalith on Aug 2, 2017 7:05:31 GMT
What is the loan ref number? Best to email FS what you saw and your concerns. Loan reference numbers are: 2765530562 2675559820 3634641833 I haven't contacted Fundingsecure about it, instead choosing just to sell my investment on the secondary market and take no further part in it. Have you been reading the Whitehaven topic syalith? There seems to be an established, errrr, common and recurring "theme" here. Yes. Reading that thread was my motivation for visiting this site. I had a large chunk in the first loan, which if you go by the information Fundingsecure give looks like a brilliant loan - £235,000 secured by 11 three bedroom homes in the process of being built, with the development finance falling behind it in the event of default. Fundingsecure are stating that the value has increased from the original £350,000 valuation to £540,000 due to work done. In my view the value has not increased at all as all they have done is knock down the brick wall that was surrounding the site and scrape it into a big pile. Therefore, as I see it, the LTV is currently 100% with more development finance tranches to be released soon which will take it over 100%. If I had investment in this (development tranches in particular) I would be very worried.
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syalith
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Post by syalith on Aug 1, 2017 16:55:19 GMT
Visited this site yesterday to check the progress.
There was a huge pile of rubble there and no sign of any foundations at all (though it is possible this was out of view behind the rubble), the ground I could see was still old concrete from the previous building.
This does not quite match up with Fundingsecure's update from six months ago stating that the clearance of the site is complete, and foundation work has begun.
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syalith
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Post by syalith on Mar 22, 2017 19:29:42 GMT
I like not having a bid restriction.
If you want to get your investment in, simply set an alarm for 10:58, and start refreshing the investments page, as soon as you see the loan, click invest, select your amount from the drop down list, click invest, click ok on the pop up.
That's exactly what I did and I was the third person invested in the loan, and have never missed out on any loans that I have wanted.
The ability to get a decent amount invested in quality loans is one of the main reasons why I mostly invest at fundingsecure rather than faffing about with the other sites where you can invest 50p maximum provided you pre-register six months in advance or whatever.
If you missed out you can easily go to the secondary market and find loans equal or better than the Tipton loan that are available with discounts.
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syalith
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Post by syalith on Dec 17, 2016 16:27:29 GMT
I made a transfer to fundingsecure the other night and it was not in there the next morning, checked with them and they had not received it, phoned my bank and it turns out my bank (Tesco Bank) had put the transaction on hold for "security reasons" without informing me. After clearing it with the bank the money appeared in fundingsecure a couple hours later. Maybe the same has happened to you?
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syalith
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Post by syalith on Dec 16, 2016 19:34:01 GMT
Thanks for the suggestions. I've had a look around and decided to try Nationwide for now. Their website says there is a £10k limit on individual payments but no daily limit so I can just make multiple payments. But the main thing is I can see in my online banking there that you can check the status of payments you have made to see if they have gone through. This seems much better than Tesco where you are told your payment has been made even when it hasn't. I use Natwest and have never has a problem sending £20K by FP. I'm banned from Natwest and RBS group banks. They sent me a letter a couple years back giving my 90 days to switch banks with no reason given.
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syalith
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Post by syalith on Dec 16, 2016 14:08:36 GMT
Thanks for the suggestions.
I've had a look around and decided to try Nationwide for now. Their website says there is a £10k limit on individual payments but no daily limit so I can just make multiple payments. But the main thing is I can see in my online banking there that you can check the status of payments you have made to see if they have gone through. This seems much better than Tesco where you are told your payment has been made even when it hasn't.
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syalith
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Post by syalith on Dec 16, 2016 13:35:14 GMT
I'm with Tesco bank and made a payment of £10k to fundingsecure last night in preparation for a loan opportunity today but when I logged in this morning the funds had not been received by fundingsecure and when I phoned Tesco bank I found out that the payment had been put on hold for "security reasons". The loan has now filled and I missed out on it. At no point did Tesco bank inform me that my payment had not gone through as normal and I only found out by phoning them.
I'm sick and tired of banks treating me like an idiot who can't manage his money and just want a bank account that actually sends payments when I request them, preferably with a higher faster payment limit than £10k daily as well. Does such a bank exist?
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