lofty
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Post by lofty on Dec 8, 2016 8:28:14 GMT
Is there any information on the state of play for properties approaching (or past) their term end dates? I've looked around the site and it seems a bit vague as to what happens at this date. I find it unlikely that it'll be just sold on the the expected date and at the expected price. How are propertymoose selling them? At auction, normal estate agents? They were bought at below market value, will they be sold in a similar fashion to ensure a sale near the target end of term? I can see a couple are due this month, but I'm guessing that not being an investor in those means I don't see any updates. It would be useful to see how accurate the original projections were vs the actual sums achieved as this would help reassure me that PM are getting things right. In fact, thats probably the biggest concern I have at the moment, I'm a bit reluctant to commit more funds until there's some proven track record of what happens at the end of term.
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lofty
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Post by lofty on Nov 15, 2016 17:25:42 GMT
I'm sure a few days ago the shares available price on the main screen omitted the 2% transaction fee that PM are adding. Probably the right thing to do but it does make it look like there's been a sudden jump in prices.
That said, it could also be people modifying their for sale prices.
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lofty
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Post by lofty on Oct 31, 2016 11:13:54 GMT
Now that the secondary market is running I thought I'd give it a look and possibly diversify my investments, however there are a couple of niggling issues which make it difficult for me to make an assesment of a good vs bad choice.
Firstly, I've noticed that when a property goes live all of the details breakdown of costs and forecasts disappear. While it may not be critical for investments I made from the off (because I've a reasonable memory, and a spreadsheet!) it does make deciding where to invest in a secondary market property uncertain.
This is not helped by not having clear details on when the property term started (yes, I can have a rough guess based on the spv number). Without these dates the figure for projected growth must be taken with a pinch of salt. Does this mean I'm going to get x% over a remaining 1 month, or are there 3 years to go (if I could get some of these growth figures over 1 month I would be investing very heavily... )
Also I can't see how many total shares are allocated. Again, I can take a good guess that there are some shares based on a £10 purchase price and some on a £500 (presumably when the minimum investment amount was changed). But without this spelled out somewhere it makes calculating a final return difficult. To a lesser extent I'm also vulnerable to someone trying to con me into thinking I'm getting a bargain at £450 when their actually only worth a tenner.
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lofty
Posts: 101
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Post by lofty on Oct 27, 2016 12:56:09 GMT
The picture of this loan already has a big red box in the middle. Not a good sign
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lofty
Posts: 101
Likes: 104
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Post by lofty on Oct 26, 2016 13:56:51 GMT
I suspect there'll be a significant amount of the SM quite quickly - there's bound to be someone out there who hasn't spotted the new lower rate and who also hasn't changed their prefund value. But it'll get snapped up quickly too. I based this on my golden rule of "investment liquidity probability" - the prettier the picture the better it sells!
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lofty
Posts: 101
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Post by lofty on Oct 13, 2016 6:12:57 GMT
Oh dear. Given that this is a genuine expiry, we can be pretty certain that there is nothing untoward. When a certificate expires, the data, including userid and password are still encrypted so your session is safe. Had the certificate not expired, we could potentially have a physical or virtual breach, perhaps the SSL port might have been closed or the server compromised but this is extremely unlikely in this case. If you are ultra paranoid, simply don't sign on for the next couple of days. I used to work in computer security and had ethical hackers work for my company so I'm pretty familiar with the issues. Personally, I won't be signing on because there's a one in a million chance that a malicious attack could be timed with certificate expiry date. Very, very remote but theoretically possible. By the way, savingstream , your domain name registration expires in less than a month as well. I wouldn't leave it this late and I don't think you should as well. Given that you've taken your eye of the ball with the security certificate, I just hope you've locked your domain and have the renewal in hand. It typically takes two to three days to renew a certificate, since there are checks so there will probably be a lot of concern. I did some research for the EU on perceptions of trust on the web and certificate expiry was a near certain killer of business where punters had a choice to go elsewhere. Trouble is, if you have funds in SS, you can't elect to go to a different site. Likewise I've some experience in dealing with website security. We hired in a security team to validate our site as consumer confidence was of prime concern. Something like this would probably have got one of our engineers the sack (although in real life its nearly always someone in accounts who's failed to get a purchase invoice dealt with one on time!) This is going to look ameturish to anyone trying to log in this morning, and wouldn't encourage people to return to this site. There's also a lot of money in play here, and data security breaches now carry business crippling fines and so I seriously hope savingsteam get this sorted immediately. Firstly I would be sending out a grovelling and consumer calming email (skip the morning coffee and doughnuts) - get it sent! After this is resolved I would also recommend forcing everyone ro reset their password - agreed its only a small chance of a breach before this is resolved and probably not many people will access the site during this time - but it does close one small hole. In the light of this it does make me slightly concerned how much resource they are putting into their IT systems - they clearly have some as evidenced by recent tweaks for the flexible rates, but I wonder if they've ever scheduled (or even aware of) any penetration testing - I know a lot of ethical hacking techniques and would be tempted to have a go myself - but won't - the jails are already over populated!
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lofty
Posts: 101
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Post by lofty on Oct 7, 2016 7:35:44 GMT
Has anyone bought or sold something through the secondary market yet? This is something I've been keen to see for a while (not that I'm desperate to bail out - its just nice to know there are other exits other than just waiting) and it looks fairly straightforward and easy to use. But, this morning, I looked at spending a few extra quid in some of the more interesting properties and discovered that PM fee at 5% and thought better of it - that's a sizeable chunk for moving a few records around in a database. Other sites are charging a fraction of this (and some p2p sites don't charge a fee at all). I think I'll just be patient and wait for some newer properties to become available. That said they're a bit of a rarity nowadays - maybe PM are settling on making 5% profits off the transactions on the secondary market...
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lofty
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Post by lofty on Sept 26, 2016 15:50:26 GMT
And negative cash balances? It's a fair question. If it was as simple as SteveT suggests then we could completely bring down SavingStream by selling £20M of loans and buying it all with INPL. They would be obliged to instantly credit the Client Funds Account with £20M yet still give the buyers 24 hours to settle their INPLs. I suspect, therefore, that a certain amount of "funny money" is involved... If everyone did as you say I'm pretty sure there'd be a "technical issue" or such like in the morning credit run.
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lofty
Posts: 101
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Post by lofty on Sept 23, 2016 5:15:56 GMT
I was up early this morning about 4am and looked on SS. The latest loans were on the SM, first they were 1p for about 30 to 60 secs then went to thousands. I tried to get a few pounds but they were gone before i could even get to the buy page somtimes. I could not have done it any quicker. They were all taken by t***s or t***x Does anyone have any tips on how i could have beat them or is there something fishy going on I suspect what these people are doing is moving from one of their accounts to another. They put 1p of their loan up for sale in one browser tab and then goto another browser tab and preload it with the full amount and go through the I'm not a robot malarkey, when they're ready switch back to the selling tab, sell the lot, instantly switch back to the buying tab and click ok. Difficult to beat in FFF as they know exactly when to click. Once upon a time I spotted someone was doing this across a number of loans (if I recall it was about the same time as the OP) and so attempted to pre-empt them and guess when they were going through. Amazingly, on one of them it worked and I grabbed about a grands worth. I felt rather pleased with myself all day knowing that I'd "beaten" someone. Well worth the dozen or so 1p loans I got stuck with.
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lofty
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Post by lofty on Sept 20, 2016 10:35:24 GMT
If I have £15.21 * 4 = £60.84, and I buy 4 loan parts of £15.21 each, hold them for a day and sell and repeat, I should get the same amount of interest as if I invested £121.68. And all pro rata above these figures. It will take a lot of work and not sure if anyone will find it worth the time, but in theory it seems to work. If multiple parts of the same loan are calculated together this will quickly have a limit; at most one part per loan. If on the other hand each part is calculated independently, one can buy multiple parts of the same loan using the above scheme. I do however think that it will take a lot of time that will not make it worth it and impracticable. Lets say it takes me about 10 seconds to sell a loan part @ £15.21. That means I could sell 6 a minute. If I had a loan part of £5475.60 I could sell the whole lot in an hour (assuming there's a buyer). That would net me £3.60. Deduct from this the £1.80 it would have earned anyway and that leaves you with an hourly rate of £1.80. Even Sports Direct pays better...
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lofty
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Post by lofty on Sept 8, 2016 16:45:56 GMT
OK ... Somebody help me ...I REALLY dont get it...!! As far as I have read, the offer that has been accepted for the flower shop is (I think ....) CLOSE to (my words....) the amount of the loan (....not equal to or more than....). No indication that the PF will be used to cover any interest ....in fact all the opinion on here seems to be that it shouldnt be used in this way .... And yet people are STILL buying it ....more than £7K in the last day WHY ?!?!??!?! What am I missing ?!!?!!?!!!?! I think its more likely that they're missing something! About £7K is my guess
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lofty
Posts: 101
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Post by lofty on Sept 2, 2016 11:31:31 GMT
I once received a cheque from Santander for £0.00. I never did get round to cashing it.
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lofty
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Post by lofty on Aug 28, 2016 21:29:43 GMT
about 100 sq metres to be demolished if I'm reading that correctly Sitting room,garden room and part of a bedroom to be demolished. How do you demolish part of a room Try hosting a kids birthday party!
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lofty
Posts: 101
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Post by lofty on Aug 28, 2016 7:15:52 GMT
"there is a potential buyer who is willing to exchange subject to various modifications of certain aspects of the property" - SS Overview I wonder if this 100sq m was part of the various modifications? Did the potential buyer request the extra space and the builder just promised them it would be ok (naughty builder). Or had the buyer spotted the plans and the build were different and the modification they wanted was to make it legal? I wonder if the purchase will now go through? If not, I'd quite like to live there - anyone lend me about 4 million quid?
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lofty
Posts: 101
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Post by lofty on Aug 22, 2016 7:34:16 GMT
Not just planning to consider. I found some big delays when building my extension as the inspector for the building regulations was needed at key points. In this instance, either they're blind to miss that much square footage or they never visited during the build (it is the responsibility of the builder to alert the council that works have progressed). I'm going to guess its the latter in which case they may also have issues proving that they've followed guidelines - they could be made to rip up floors and walls just to prove drainage, insulation, correct materials etc.
That said, I did hear from my builder mumblings about getting your own inspectors, which I understand some larger building companies do. So maybe they did conform, but at the last minute forgot to stuff one of those brown envelopes with enough cash...
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