ozboy
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Post by ozboy on Oct 16, 2019 18:14:45 GMT
The irony here is these so called “professionals” are the biggest money hungry crooks in society. Weren’t our RICS valuers also called “professionals”. What a (painful) joke. I have ranted on here before about "Professionals." Remarkable what you can (legally) get away with when wearing the "Professional" cloak. I'm sure savvy folk woke up to how it all works long ago and the "olden days" of immediate, blind respect for "Professionals" are long gone. I am VERY aware that there are some decent Professionals out there, it is however beyond a shame that most "Professional Bodies" are aloof and aren't serious about clearing up and cleaning their own house. Why uncouple The Gravy Train? RICS anybody?
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ozboy
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Post by ozboy on Oct 16, 2019 17:48:29 GMT
You'll be waiting until the cows come home sundown (Oz saying, not sure if it's in use here but you're all smart & will work out its meaning.  ) The new Owners/Directors are bright boys and they undoubtedly have a game plan. The lack of any serious effort to date is clearly part of that game plan. I have no idea what the game plan may be but no-one on here will be surprised in the least anymore by anything that FS comes up with and does. We know it almost certainly won't be beneficial to Lenders, and will almost certainly benefit FS and Borrowers. I just want OUT FS, Default my Loans that are more than six months beyond maturity date NOW and we can ALL get a life. btw, I have dealt with untold organisations in my life, and I can say, hand on heart, that you, Funding Secure , are singularly and by far the most * INCOMPETENT firm I have EVER dealt with, including in Australia. JMHO. That's some achievement FS, Well Done, you can be rightly proud. ( * and numerous other Choice Words, but I'm being polite.  ) . |
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ozboy
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Post by ozboy on Oct 15, 2019 14:19:03 GMT
Maybe/hopefully, the FCA will consider COLL minor enough to placate us with Compensation? Certainly, it wouldn't cost 'em much?
I agree though, COLL Lenders may well get drowned out by the Clamouring Mongolian Hordes.
So we just SHOUT LOUDER, you know, PUNCH ABOVE OUR WEIGHT. 💪 😉
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ozboy
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Post by ozboy on Oct 15, 2019 14:10:07 GMT
I am not smart nor experienced enough in these matters to understand the full and eventual implications of the SPV, but whenever FS allow ANYTHING to be changed wrt Borrowers, I always smell a HUGE DEAD RAT.
And with Lender Confidence like that FS can be substantially proud.
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ozboy
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Post by ozboy on Oct 15, 2019 11:25:30 GMT
Not read this full thread, too busy, so apologies if my comment is out of whack.
Why do I get the distinct impression that whilst setting up an SPV will be (allegedly) beneficial and financially advantageous to the Borrower, it will additionally prove beneficial and financially advantageous to FS, and that in due course Lenders will discover to their cost that this "engineering" has been hugely non-beneficial and financially disadvantageous to us.
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ozboy
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Post by ozboy on Oct 13, 2019 21:38:21 GMT
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ozboy
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Post by ozboy on Oct 13, 2019 13:53:03 GMT
Yes. Right on tommytaylor . 👍 And any COLL Lender reading this, if you still haven't contacted your MP yet, with all the "free" tools provided to make it SO easy, words fail me. ( For a change. 😂 ) JUST DO IT, AND DO IT NOW! |
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ozboy
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Post by ozboy on Oct 12, 2019 11:07:44 GMT
brightspark, you are unequivocally correct. FS would have been stopped in its tracks years ago if it was based in Oz or the USA, investors en masse there simply refuse to put up with carp like this. It is uniquely British that many endlessly "apologise" for and meekly accept FS' kind of absolutely deplorable conduct. After nearly 40 years here I love this country but I still don't understand this unfathomable attitude amongst many. In my lifetime experience to date I have learned one or two invaluable lessons and besides ensuring tight Credit Control in business, the other one is "Nice guys finish last."
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ozboy
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Post by ozboy on Oct 11, 2019 10:46:33 GMT
Because BDO and the FCA don't give a toss about Lenders.
Their arrogance is patently obvious in everything they do, both parties protected by and utilising legislation to the full for their own benefit and at the expense of the very people they are supposed to be "working" for and serving - Lenders.
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ozboy
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Post by ozboy on Oct 10, 2019 19:30:15 GMT
Thanks for this mrclondon. I have (had?!) five figures in this flat as I figured it was a rather decent loan. Unfortunately I didn't allow for Collateral FCA Failure. |
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ozboy
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Post by ozboy on Oct 4, 2019 17:13:32 GMT
Interesting piece, and from The Sun - who'd a thunk it?!!!!  |
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ozboy
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Post by ozboy on Oct 4, 2019 10:11:26 GMT
Sir, you have used "trust" and "FS" in the same sentence, are the two compatible? |
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ozboy
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Post by ozboy on Oct 3, 2019 16:02:34 GMT
Email received from FCA this afternoon: I am writing in relation to a complaint brought to the FCA on your behalf from the Office of *** *** MP. For us to discuss matters relating to the complaint with *** *** MP’s Office, we need your explicit consent to be able to do so. Please therefore confirm by reply (either by email or in writing) if you are prepared to provide your consent. If I could have your response by close of business 10 October 2019, that would be much appreciated. I've given consent. It seems they are taking notice. Yes, they are. It is impossible for the FCA to continue on their current "Refusenik" tack if, say, over 100 different MPs were to write to them asking the same, informed & awkward questions. We CAN win this fellow COLL investors, just do your bit. All the tools have been provided to make it as simple & easy peasy as possible.  GET ON WITH IT! No Surrender, Normandy - Gold, Juno and Sword beaches and all that! (Oh, and Gallipoli too.) 👍
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ozboy
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Post by ozboy on Oct 3, 2019 13:36:56 GMT
Apologies michaelc , somehow I never saw your question. Answer - "No." I have also just emailed them these Questions:- ------------------------------------------------------------------ Hello BridgeCrowd.
Has the sale completed yet please? (9/9/19 - “ the solicitor acting for the proposed purchaser has confirmed that the purchase is being funded by a sale completing on in mid September.”
Have any further offers been received? (9/9/19 - “The Property remains on the market with an asking price of £190,000 and will do until we exchange contracts. “
Has a Court date been set? (5/8/19 - “We have commenced possession proceedings and await a Court date.”
[ EDIT - Two months to set a Court date?! ]
You might also consider posting your reply on The Independent Forum?
Many thanks,
OzBoy |
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ozboy
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Likes: 4,857
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Post by ozboy on Oct 1, 2019 19:51:11 GMT
where do all these borrowers vanish to.every platform i am with have come up with this now classic,here we go again update.we have been unable to contact the borrower.do they go into hiding or go abroad on a fake passport or something.or does it mean they are not answering their phone or responding to emails.really had enough of this p2p carry on. Most Platforms don't have Skin In The Game, not their money at Risk.  I'd wager Borrowers would be gotten hold of and dealt with VERY swiftly if it was otherwise. One of the many imbalances in P2P where Platform interests are not aligned with Lenders, hence you get shafted.  Meanwhile, the FCA slumbers on, but never fear, they're protecting you. This is not a direct comment on MoneyThing. 
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