arbster
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Post by arbster on Jan 13, 2017 13:09:44 GMT
Update today:
Noting the lack of a specific year, I believe the next "Monday 15 January" is in 2018...
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arbster
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Post by arbster on Dec 23, 2016 9:56:08 GMT
And to you and yours, Andrew. Thanks for your positive engagement on the forum this year, and I (not entirely altruistically) wish Assetz a profitable and successful 2017!
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arbster
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Post by arbster on Dec 22, 2016 10:07:46 GMT
Presumably everyone's waiting for the caravan parks.
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arbster
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Post by arbster on Dec 22, 2016 9:57:18 GMT
Well, I appear to have hit upon the way to get some kind of information from SavingStream, albeit in the casually derisive tone we're coming to expect. The caravan sites were/are over twice funded. They are just not ready in legals to complete this week. With regards cashflow requirements for the developments, people need recompensing for work already completed and also for work to be undertaken over the next couple of weeks and we would rather they have cash to get them through the Xmas period without having to struggle. Good news of the over-funding - plenty of liquidity is good for everyone, especially those looking to reduce their holdings. And I appreciate your magnanimity in advancing additional funding to the poor developers, at a generous 18%+. However, I maintain that were these properly managed developments, Christmas wouldn't have come upon them by surprise, leading to a sudden appearance on the pipeline and rushed loan launch.
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arbster
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Post by arbster on Dec 22, 2016 8:24:56 GMT
-34 days overdue, last update was 3 weeks ago. I wonder whats going on..... -34 days is nothing. If you're investing here you need to be prepared for months of overdues, but you'll probably get the interest in the end.
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arbster
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Post by arbster on Dec 22, 2016 8:16:12 GMT
Even by SavingStream's standards the past couple of days has been a bit shambolic. And I still can't work out what kind of property development projects suddenly realise 3 days before Christmas that they need an additional tranche of funding, let alone 4 on the same day. I would have expected a properly managed project to know their cashflow needs weeks in advance, and if they don't need the money why rush in additional borrowing just before (presumably) everyone stops working for about a week?
If I was a real cynic I'd say SavingStream saw that the pre-fund on the caravan parks was insufficient so decided to pull them and release them just after the interest payments in January, then tried to avoid a mass withdrawal by those who had freed up capital by pushing some other loans through more quickly. Whatever the reason, it all feels too slapdash and shoot-from-the-hip for me, which makes me too nervous to maintain my current level of investment here. I'll be running down my holdings from here on.
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arbster
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Post by arbster on Dec 15, 2016 5:57:42 GMT
Thanks to everyone that came, and definitely a huge thanks to BondMason and Assetz Capital for the generous provision of food and drinks for the evening. I enjoyed meeting you all and had some very interesting conversations.
For those of you who were unable to make it, I hope you're feeling better soon / Southern get their act together / work takes a hike, as appropriate and hopefully we can do this again.
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arbster
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Post by arbster on Dec 9, 2016 9:23:03 GMT
- the plans some firms have for wind-down in the event of their failure are inadequate to successfully run-off loan books to maturity
This for me was the stand-out finding. I'd say that this is an area it would be hard for platforms to get excited about, much like retirement planning or will-writing. I feel there is a strong argument for a standardised process for this, which defines a set of regulator-approved processes and deliverables, which must be demonstrably present for approval to be granted. A bit like an escrow process, it should be the case that in the event of platform failure a set of data should be readily available which fully describes all the pertinent details of every loan under management, including security, history, risk assessment, contact details, loan part holders, etc. Thus, any platform should be able to inherit another platform's loan book, or a central body could be funded (by the platforms) to step in and run down the loan book. While this might seem onerous, it seems far more efficient to do things consistently than to have many disparate provisions in place of varying quality, and it would also make it infinitely easier to regulate.
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arbster
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Post by arbster on Dec 8, 2016 20:10:13 GMT
In addition to solicitors and IT consultants, I avoid scaffolders. An eclectic mix, but all generally unreliable investments.
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arbster
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Post by arbster on Dec 5, 2016 9:42:38 GMT
No suit here, and retirement is further away than I'd like, financially at least...
Final bump from me, to say that we have a total of 19 expressions of interest/intention to attend, and the venue I'm looking at can accommodate 15-20, but has another room that can accommodate 20-30. I'm going there this evening to take a look, so it would be good if anyone who has yet to get in touch could do so TODAY please.
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arbster
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Post by arbster on Dec 4, 2016 5:52:16 GMT
I've not met many forumites to date, but FC lender events were a bit like the TC one - lots of retired/semi-retired people, and all the young trendies were working for the platform (and knew me by my forum name...).
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arbster
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Post by arbster on Dec 2, 2016 16:49:10 GMT
Shameless bump.
Thanks for the replies thus far - about 15 of you have been in touch, with varying degrees of confidence you'll make it. I have identified a couple of venues, which can accommodate 15-20 people, that I'll take a look at on Monday. Both are in the vicinity of Great Portland Street/Warren Street tube stations, so are easy to get to.
There's still time to drop me a line if you'd like to come - the more the merrier!
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arbster
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Post by arbster on Dec 1, 2016 13:36:47 GMT
Sorry for the social spam, but this should be the last.
With the kind hospitality offered by BondMason and Assetz Capital, I wanted to make sure we manage the risk of opportunist attendees. In order that I can share the venue details once I have them, please could everyone who plans to attend PM me at your earliest convenience? Thanks to those that already have.
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arbster
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Post by arbster on Dec 1, 2016 13:15:26 GMT
Unfortunately I can't make this personally as it's bound to be a good evening out, but it would be a great opportunity for one of our customer services representatives to put some names to faces. Dominic would like to attend and AC is happy to put £250 towards food for everyone. If you've ever called our customer services line you've most likely spoken to Dom at some point. Sorry we won't see you Chris, but thank you also for this. Look forward to meeting Dom in a couple of weeks.
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arbster
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Post by arbster on Nov 30, 2016 22:02:27 GMT
Okay, it looks like it'll be the 14th December, as it has a clear margin over the other options. I'll see about identifying a suitable venue for 11-15 people, although given that it's party season we will probably have to make do with a reserved table in the corner.
As pepperpot suggested, I plan to circulate the venue by PM, to avoid any unfortunate incidents, so could everyone who said they can make it on 14th December please PM me so that I can provide details as soon as I have them?
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