ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 11, 2021 16:54:40 GMT
Hey, I'm mainly on the fence with all this, (but leant Brexit) however I'm increasingly getting urinated off with the constant negative references to "the Bus" and what it said about Savings on its side. Oh ye all of Very short and selective memory, do you not recall The Government scaring people that it would cost Families an extra £500 or somesuch a year if we left the EU? And as Referendum Time approached an inceasingly desperate/panicking Government gradually increased this figure over the months to suit their needs until they baldly stated it was going to cost UK Families an extra £5,000 or somesuch ludicrous amount per year if we left? Remain lied through their teeth too. It's called politics. Just get over it. Merde happens.  |
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
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Post by ozboy on Feb 9, 2021 22:42:26 GMT
Valuers are definitely culpable adrianc, they have NO excuses. Whatsoever, NONE. ZERO. I know nothing about Property Development, however, with my trusty calculator, I quickly learned to do very basic, quick & amateur schoolboy reckoning on each Loan, which invariably resulted in a "No way, that Valuation's SO inaccurate, it doesn't stack up anywhere near. At all."Now, if I can Value a Loan/Asset, as an Idiot, FAR more accurately than a "Professional Valuer", with Accreditation, and with YEARS of experience, well, then, errrrrrr, summit's not quite right? Is it?  |
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
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Post by ozboy on Feb 9, 2021 22:11:39 GMT
Ha Ha, it's all been said before. Mostly by me, as you lot often point out!  Three Points. 1/ Yes, some "Professional" "Valuers" were obviously "in on it", or, at the very least, "open to persuasion." 2/ Being a RICS Member is as solid, reputable & reliable as ....................... a Platform being FCA Authorised and Regulated. 2/ Some Valuers must be prosecuted and jailed. |
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
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Post by ozboy on Feb 7, 2021 23:12:26 GMT
Oh mah, I DO like your style!!!!!!  |
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ozboy
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Post by ozboy on Feb 7, 2021 23:07:06 GMT
Any sound reasoning behind that brush do you know? Or is it just because it suits them? |
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ozboy
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Post by ozboy on Feb 5, 2021 16:50:43 GMT
Three words are obviously missing :- "into the ground."Fortunately the Bank of England has a long-standing, competent permanent staff, so Bailey will probably not fail to the same degree he did at the FCA, which appears to be shot through with incompetence. Apropos of which, I remember reading somewhere some months ago that inductees to the FCA, often with no financial background, receive almost no job training, nor instruction in how to identify irregularities or fraud. If that is true then without a wholesale reform of the system I see no prospect for change. The grossly incompetent FCA needs to be shut down, just like all its utterly useless predecessors, and a new Body setup. This time, one with real accountability, and NO RING FENCING, staffed by experienced private sector Financial Services people.Sure, it will cost more, but it should be more effective by quite a margin, and with expected far fewer Complaints, cost effective in the long run?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Likes: 4,857
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Post by ozboy on Feb 4, 2021 23:42:02 GMT
Three words are obviously missing :- "into the ground."
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 4, 2021 23:38:22 GMT
ABSOLUTELY correct aj. There are NO disincentives whatsoever. These people cause/oversee cataclysmic failure and then swiftly move on to a better and higher paying position completely unscathed and leaving the mess behind. We have seen this time and time and time again for decades. "The system" is corrupt to the core in both Commerce and Government and goes well beyond simply not being "fit for purpose".
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
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Post by ozboy on Feb 4, 2021 23:18:57 GMT
It is ALWAYS better to invoke the Contract and Default at 90 Days Overdue, if not before, except in the Very occasional exceptional circumstances, and even then at 120 to 180 days absolute max.I ran my own business for 20 years and this maxim is as true as it ever was, plus you get a reputation for being someone who is not to be fornicated with and you'd be amazed at the Respect for Repaying that Customers show. The problem with P2P is Lenders believing the hogwash being constantly peddled by many unscrupulous Platforms, whose interests are far more aligned with Borrowers than Lenders. Except a LOT on here don't seem to understand that and swallow the "jam tomorrow" story time and again. So here we are, where we are. |
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ozboy
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Likes: 4,857
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Post by ozboy on Feb 1, 2021 20:31:03 GMT
Meanwhile, under the ever watchful, sage eye of "Authorised and Regulated by the FCA", the FCA does .................................. NOTHING.
Surely the grossly incompetent shower known as "The FCA" is not long for existence and will be summarily shut down?
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
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Post by ozboy on Jan 31, 2021 15:53:32 GMT
I would strongly urge not investing in ANY Platform's "Auto Invest" feature.
Just my two bob's worth.
You read it here.
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ozboy
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Likes: 4,857
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Post by ozboy on Jan 30, 2021 21:49:55 GMT
I think that, for many years to come, the P2P Bad Players will be regularly moving house, avoiding dark streets at night, ensuring that a "friend" is accompanying them everywhere most of the time, etc, etc.
SO many want to have a cup of tea and a friendly chat with them.
Even supply a biscuit or two.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
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Post by ozboy on Jan 28, 2021 21:52:26 GMT
I don't really care what they're called. They serve the same purpose. I guess you don't like them. You're entitled to your opinion. No, I don't much care what they're called. They're the Daily Mail. Nobody in their right senses likes them.Hasn't the DM the largest readership in the UK? Them's an awful lot of people who don't have the right senses? Is The Grauniad any better?
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
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Post by ozboy on Jan 26, 2021 15:54:18 GMT
I'm hopeful that there are one or more sleuths out there who monitor Companies House etc and might be able to help me (us) on this? When a Platform goes bust, we, as Lenders, are entirely on our own and no-one gives a toss ( especially the FCA), as we know only too well. Once bust, P2P Directors of course then do an immediate volte face, collude with Administrators, and can't wait to shaft us. SO, logic dictates only invest with P2P Platforms in decent Profit so as to minimise risk? But are there ANY? I thank you. OzBoy (Who hasn't invested in P2P for yonks because I am still licking my deep & numerous financial P2P wounds. ) PS - Apolgies if this has been asked before. If so, please just notify the thread title. Merci! |
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
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Post by ozboy on Jan 25, 2021 15:08:31 GMT
Thank you for this information. I have taken the survey. It is a bit fiddly but the trick is to click the DONE button each time after and answer otherwise it takes you back to the same questions over a number of time. The likes of LB and the mismangement of Le*** and the failure to conduct sufficient due dilegnce on behalf of retail invetors has clearly damaged the trust to be placed with the P2P industry. forget Collateral. Whilst I am sadly also hit by several of the failures (I escaped Lendy) Collateral is BY FAR the most serious of the lot, it is on a completely different and appalling incompetence level and a shockingly shameful class of it's own. "Check the Register, if the firm is on it we have checked them out, etc, etc, blah, blah" and "only deal with firms which appear on the FCA register" or somesuch nonsense wording from the FCA's Enhancer Encourager Enticer Enforcer Mark Steward.
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