grahamg
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Post by grahamg on Feb 19, 2017 16:07:52 GMT
Well got one part in the latest renewals but all over in 30 seconds.
Astounded though that my deposit was credited with 10 mins on a sunday well done MT
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grahamg
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Post by grahamg on Feb 19, 2017 15:22:04 GMT
I should pay more attention to the forum . Just had this happen to me today - the old stuck loan sale bug, haven't experienced that for years. I didn't worry too much as with a lot of buying and selling going on I thought someone would sell and someone else buy enough to bail me out soon. They did, and once bailed out and loan back to an apparent zero for sale, I decided to have a look at the invisible Q length on PBL142 which is currently £649, so there'll be one or a few more people stuck at the moment. I'm one of them! Can someone please sell £200 to bump me through? {Edit: Ta, whoever it was!} Looking at my problem from Friday the hole size seemed to be a bit dynamic at one point £449 the £32. As of 4.22pm Friday SS were certainly aware my issue and allegedly trying to fix it, clearly no overtime available then! As they have clearly been aware of these issues for 10 days or more i am rapidly losing confidence both in their software developers and their concern for lenders cash. Paul64
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grahamg
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Post by grahamg on Feb 17, 2017 15:36:35 GMT
I have also just had the same problem with PBL142 - so still not fixed! I will send a further email asking what they are doing about the recurring problem. I suspect that the new SM rules will do a lot towards allowing SS to resolve the underlying problem, as the quantity of loan parts in circulation and the quantity of loan parts actually paid for will necessarily become identical for almost all loans (and once balanced there will no longer be a mechanism to throw them out of balance)... and SS should be able to generate a report of which loans are "out of balance" without being overwhelmed with the huge quantity of loan parts "bought but not paid for" throwing the figures out. Just had the same problem on PBL142 , resolved by someone else putting a part up for sale Update Even worse put two parts up for sale 1st sold no cash , tried to buy back the second(only part for sale) , took my money but still no cash for first part and still shows both parts are for sale in my loans.
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grahamg
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Post by grahamg on Feb 15, 2017 12:34:57 GMT
"The borrower is an individual whose company has been established for 15 years..." Excuse my ignorance, but what does that mean? Is the borrower an individual, or a company? Its another of their sloppy and meaningless bulls**t phrases that someone at SS thinks will impress lenders. Whereas what we need is a meaningful synopsis of the borrowers status and experience. I'm going to go through the loanbook and compile a list of all this nonsense
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grahamg
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Post by grahamg on Feb 14, 2017 1:27:30 GMT
Since it occurs on the 1st of the month (so all previous interest has been paid) my guess is the policy will effect all present and future loans. This may open a can of worms if people already holding some loans suddenly start accruing interest instead of paying, if these same people do not manage to sell their parts before the new rules kick in. I would surely object if I was in that position. I say new rules because all negative day loans were paying interest unless formally defaulted. And i had a nice reply from savingstream "When the default policy comes into effect on 1st March it will apply to all existing loans and all future loans." So worms it is!
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grahamg
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Post by grahamg on Feb 14, 2017 1:22:21 GMT
the sole shareholder of the distressed company is aged 87, the new spv company incorporates her name but has a different sole shareholder And the sole director and shareholder of the new company who supposedly is highly experienced in property development and investment appears to be 20 years old. So from the VR and companies house (interesting reading ) grannies company goes down the tubes with outstanding loans having been pulled by a lender and having tried it on with the planning consent, "hello PBL081" and presumably ran out of reddies. Where did the wealth go when they needed it ? Now the plan is to buy it out of receivership and do it right this time ! And this is a 9% low risk loan! savingstream and Paul64 please take note History matters! Also please stop your people using bulls**t phrases like "The ultimate beneficial owner is a member of a wealthy family, which has significant experience in property development and investment." Doesn't impress anyone! The family member may have no personal wealth , would never risk their own money anyway and where is the evidence of significant experience.
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grahamg
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Post by grahamg on Feb 11, 2017 16:38:23 GMT
Question is , will or can SS apply the new policy rigorously to the whole existing loanbook, or just new loans.
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grahamg
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Post by grahamg on Jan 14, 2017 22:43:59 GMT
Interesting article in Telegraph re struck off solicitor
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grahamg
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Posts: 220
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Post by grahamg on Dec 20, 2016 17:50:11 GMT
On skimming the overviews for the caravan parks they seem to involve 3 very different propositions. My interpretation is that one is an operating business, and the valuation would be based on the income it makes; one is a late stage development project, and the valuation would be based on a mixture of residual income (ground rents and service charges) and capital returns from the sale of the remaining units; and one is a early stage development project. This presumably means that the risk profiles are different, even if the LTV's are intended to be the same. It says "We are lending to the one SPV legal entity and all three parks will secure all three loans." Which i assume means it does not matter where we put our money?
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grahamg
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Post by grahamg on Dec 13, 2016 16:09:10 GMT
1. Platform failure 2. Where to put excess cash when the rates no longer are worth the risk 3. Heinz baked beans shortageI'm hoping the stock market will correct at just the right time to be able to transition from p2p, more into equities No loss, Tesco ones much nicer and cheaper! Have to agree Tesco beans are a much nicer taste
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grahamg
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Assetz Capital (AC)
#204
Nov 24, 2016 13:03:14 GMT
Post by grahamg on Nov 24, 2016 13:03:14 GMT
I have three issues
Does AC regard option A as viable?
If i agree to option A what happens if the agreement is broken?
Really what is option B looks like a Brexit=Brexit option
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grahamg
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Ablrate (ABL) in Administration
Holiday Park
Nov 22, 2016 16:55:20 GMT
Post by grahamg on Nov 22, 2016 16:55:20 GMT
Hi guys Sorry for the mess up on making it live. We are just sending out an update which will explain the current status. Feedback was great, pledge system working well, with new code coming in the next few days so the next one we do like this won't be as complicated! Thanks for all the feedback so far... we really do appreciate it. Regards Ablrate Read the email. sadly for i don't invest in second charges. I see this as even more of a risk than first time around
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grahamg
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Post by grahamg on Nov 4, 2016 21:27:33 GMT
Not sure why i would want to invest in a grade 1 listed industrial building with pending planning permission and no proper exit strategy if PP fails at 9% Well someone has voted with their feet £3000 up for sale. And eagerly snapped up in anticipation of a rolldown to 9%
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grahamg
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Post by grahamg on Nov 4, 2016 16:54:33 GMT
The previously mooted Gunboat relaunch has appeared on the pipeline... With a reduced %PA (9%) .... .... . Anybody think we have seen the end of 12% loans on SS It is starting to look like that is the case. New borrowers will see the 9/10% loans and insist on the lower rates for themselves. Maybe only 'high risk' loans will now be offered at 12% 😢 Not sure why i would want to invest in a grade 1 listed industrial building with pending planning permission and no proper exit strategy if PP fails at 9%
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grahamg
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Post by grahamg on Nov 3, 2016 21:26:14 GMT
Hartlepool Post makes interesting reading and go back a few issues Yep natives not happy, serial offender ?
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