star dust
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Post by star dust on Nov 3, 2014 19:18:38 GMT
True to word, two pipeline PBLs have appeared. One -PBL 015 - @ 70% LTV, for £352k, and PBL 016 @ 25% LTV for 43k. If 016 goes live it'll probably vanish like a speed boat  . |
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j
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Penguins are very misunderstood!
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Post by j on Nov 3, 2014 23:36:19 GMT
Will savingstream put a 24 hours limit on how much lenders can bid on the much smaller loan? |
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mikes1531
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Post by mikes1531 on Nov 4, 2014 0:03:37 GMT
Will savingstream put a 24 hours limit on how much lenders can bid on the much smaller loan? That would seem quite appropriate, as otherwise it will be available only to those who can hover over their browser refreshing their screen every few seconds.
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star dust
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Post by star dust on Nov 9, 2014 15:05:25 GMT
Yet more PBLs have appeared 017 - £119k 70% LTV; and 018 - 80k 16% LTV. All four pipelines still at stage 3. I hope some of the existing bridges are resolved soon too, or people will start(?) mumbling 'AC' under their breaths. Maybe savingstream can give us an update on Monday, not sure when the latest pipes were added to the site, but hopefully SS will be around to respond next week. |
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mikes1531
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Post by mikes1531 on Nov 9, 2014 18:14:49 GMT
...not sure when the latest pipes were added to the site... I think it was today (Sunday!), because I'm pretty sure I checked the pipeline very early today and saw no sign of them.
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mikes1531
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Post by mikes1531 on Nov 9, 2014 18:39:36 GMT
... and PBL 016 @ 25% LTV for 43k. If 016 goes live it'll probably vanish like a speed boat . If PBL016 goes live, how quickly it disappears will depend a lot on whether or not it's really 25% LTV. When a loan is secured by a second charge, the LTV shown in the entry on the Live Loans list is very misleading because it doesn't take account of the first charge. For example, PBL003 is a £0.4M loan secured on a £2.4M property and the LTV is shown as 17%. It's only when you look at the loan description that you find out that there's a £1.029M first charge against the property so that the true LTV on the SS loan is 60%. This will make a huge difference if it becomes necessary to enforce the security if the borrower fails to pay it off on time. Which brings up a related question... PBL003 is showing a Maximum Term Remaining of less than three weeks. Based on prior experience, ISTM that it will not be repaid on time unless the borrower already is well advanced on their effort to repay this loan. So perhaps savingstream could give us an update on how the borrower is doing and whether they think it's likely that the loan will be repaid on time. Along with an update on PBL001, of course, as it's two weeks overdue now.
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spyrogyra
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Post by spyrogyra on Nov 10, 2014 10:57:11 GMT
PLB 17 and 18 on the horizon
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Liz
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Post by Liz on Nov 10, 2014 15:54:26 GMT
Will PBL 11,12,13 be going live soon? Its now 7 weeks since listing.
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mikes1531
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Post by mikes1531 on Nov 10, 2014 16:19:18 GMT
Will PBL 11,12,13 be going live soon? Its now 7 weeks since listing. We're hoping for an update from savingstream before long. In the meantime, I wouldn't count on it. One of the potential borrowers has passed away. While the other would like to continue with the applications ISTM that it's bound to take a while to get things sorted out. I would have thought that PBL009 would be likely to go live next. It'll be ten weeks old in a couple of days. We're also hoping for an update for that one. Perhaps that also will tell us when the nominal six-month term starts -- Back in September? Or when it goes live?
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Post by sammy on Nov 13, 2014 10:04:37 GMT
Looks like some of the pipeline loans have completely disapperaed and some new ones taken their place!
Nothing fromm SS to say why, they are extremely poor on feedback or responding on anything lately!!!!
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Post by savingstream on Nov 13, 2014 11:25:21 GMT
Just because loans are listed in the pipeline, does not mean they will go live.
They were listed with a status of 'Awaiting valuation'
2 of the 4 pipeline loans were removed because the valuation didn't come in as the borrower initially thought, hence being removed.
The other 2 have had the values changed because of variations in valuations.
A 3rd has been added as a new pipeline loan that is awaiting valuation.
Are continual updates on a constantly changing pipeline really deemed necessary, when the status of these pipeline loans is published anyway.
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Liz
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Post by Liz on Nov 13, 2014 12:49:58 GMT
Looks like some of the pipeline loans have completely disapperaed and some new ones taken their place! Nothing fromm SS to say why, they are extremely poor on feedback or responding on anything lately!!!! I think you are being a bit harsh, the pipeline will always be fluid. They don't have to provide pipeline details, its a bonus.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Nov 13, 2014 16:14:10 GMT
Looks like some of the pipeline loans have completely disapperaed and some new ones taken their place! Nothing fromm SS to say why, they are extremely poor on feedback or responding on anything lately!!!! I think you are being a bit harsh, the pipeline will always be fluid. They don't have to provide pipeline details, its a bonus. is right - things have always appeared and disappeared from the pipeline ever since it was introduced. Anything below status of 4 can, and often does, disappear. Personally, I wouldn't expect to be given reasons and explanations when things drop out. On the other hand, I think a little more pro-active and regular updating on the status of overdue and soon-to-be overdue loans would be very welcome.
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Post by sammy on Nov 13, 2014 17:21:05 GMT
Looks like some of the pipeline loans have completely disapperaed and some new ones taken their place! Nothing fromm SS to say why, they are extremely poor on feedback or responding on anything lately!!!! I think you are being a bit harsh, the pipeline will always be fluid. They don't have to provide pipeline details, its a bonus. Hi Liz, I was being a bit sarcastic, as SS have not been responding on various queries from members, but at least this has caught their attention and they have replied. So in fact my comments worked! 
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mikes1531
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Post by mikes1531 on Nov 13, 2014 17:47:08 GMT
Are continual updates on a constantly changing pipeline really deemed necessary, when the status of these pipeline loans is published anyway. : I don't believe they are. Investors need to understand that entries in the pipeline, particularly those that haven't progressed to Stage 4, are simply possibilities that might -- or might not -- become loan opportunities. We may be disappointed when a prospective loan sits on the list and appears to be making no progress, or when a loan disappears off the list, but we shouldn't expect SS to explain why this is so. IMHO we should be grateful that SS have given us a glimpse of what the future might hold. One thing that could be done that might make things a bit clearer would be to not re-use PBL numbers. That should make it a lot more obvious when a prospect disappears and stop people thinking that PBLnnn is stuck at Stage 3, or that something weird is going on when the amount and LTV change radically, which can cause them to start asking unnecessary questions.
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