twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 22, 2016 15:12:28 GMT
Live loans chart at 14:30 today (22/12/2017)
Click on the picture.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 22, 2016 11:06:04 GMT
A small point but one which might help with anyone's DD, these campsites are in Dorset and are subject to Christchurch and East Dorset Local Plan Christchurch used to be in Hampshire... I seem to be 42 years out of date!
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 21, 2016 22:17:33 GMT
The SS overview contains an error It states that the parent company (P**** S*** Developments Ltd) is 100% owned by a director. This used to be true (K**** T********) but in 2015 he transferred his 100% share to P******** developments Inc - a Nevada (USA) company cooling_dude , Do you think this is this just a copy/paste problem or a significant error? (i.e. from the investor's (our) point of view.)
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 21, 2016 21:57:57 GMT
The pipeline has gone mental. So much for time to do DD! Mental is a good word for it.
Highest number of loans and probably also highest total value I've seen in the pipeline. (I've been investing for only a few months but watching SS for a couple of years prior to investing.)
As you may have seen, I've been making an attempt to help with DD w.r.t. the three pipeline Hampshire Dorset loans. This is my first real foray into helping out with DD. I hadn't realised how difficult and time consuming a DD investigation can be, and how many blind alleys there are. I may not have been much help with the Hampshire Dorset campsites but it's a start.
As you say: when the pipeline goes mental the DD does too. There's so much information in the ether and so many posts... often crossed... it's tricky, but fun also.
It has been an interesting start to my efforts on DD. Mistakes, but hopefully a few contributions also.
It's another ruddy learning curve to negotiate!
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 21, 2016 18:56:39 GMT
Why doesn't the pipeline table have a column with the expected go-live date, once known? Very good idea.
Someone (can't remember who at this moment) also suggested a column for the number of days in the summary on pipeline loans.
savingstream, How about a couple of extra columns in the pipeline loans list: - Number of days to term
- Expected go live date
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 21, 2016 18:42:15 GMT
In previous rollovers you [ Saving Stream] have given investors the option to opt in/out requesting that anyone who did not want to be rolled informed you. I appreciate that given the amount of current activity and the speed this is moving this may be impractical. It may be more equitable to repay and relaunch so all investors have the same opportunity to invest but for anyone who has spent time and effort to build a decent position in any one loan, seeing this position evaporate within 24hrs is a little hard to digest. Carter, SS sometimes allow the rollover (I had one for PBL0943 if I recall correctly), sometimes they don't. I'm not sure why not but the last two or three have not allowed rollover. I expect a rollover requires quite some book-keeping on their part.
I haven't been affected by these but I know there were similar complaints to yours the last time this happened.
SS's statement 'At the moment, the fairest way is to repay and relaunch.' I think is quite wrong: how is this the fairest way?
I don't want to go SS bashing. They've taken quite a bit recently and have responded pretty well in the last few days. And I've never seen so much in the pipeline.
Hopefully, as they say, they will add this to their system so that rollover becomes an easy option for them.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 21, 2016 10:34:52 GMT
A similar thing happened at a site in Tewkesbury: Holiday lets sold as permanent residences.
A mis-selling judgement was made against the then owner of the site which cost him some cash. The defendant is connected with the owner of the SPV to which we are lending (I'm not sure how much I can say here... maybe someone with more knowledge of the forum rules can fill in more detail).
The new owners of the Tewkesbury site won a case involving permission for extra caravans over and above the number in the original PP. They won this after two appeals on the grounds that the original permission did not explicitly state the number of caravans as a condition of the planning. The extra caravans were in the original area and did not constitute any change of use of the land. I do not know if they got the planning for permanent residences.
If the number of caravans is an explicit condition of the PP then it must be adhered to. If not, then adding caravans in an existing area with PP seems to be okay (there are legal precedents for this).
This still leaves the question of changing holiday lets to permanent residences.
Addition: There is a pending new PP which includes in its description '...for the purposes of human habitation throughout the year.'
To me that's a pretty vague statement which could mean 'permanent residence' but doesn't necessarily sound like it.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 20, 2016 11:03:22 GMT
SM active again with the impending addition of £8m in the pipeline for tomorrow. Some good stuff too. Currently £95k £106k £128k and steadily increasing.
8 hours later (20-Dec 19:20): £238k. The biggest chunk? Farmland at £57k.
21-Dec 10:05: Total £305k. Farmland £59k, Hemel Hempstead £19k, Scottish estate £13k
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 19, 2016 16:59:41 GMT
Many thanks Liam, savingstream.
Remember: updates are for life, not just for Christmas!
Have a great one.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 19, 2016 16:29:38 GMT
I'm not using Saving Stream any more, but while I was I wrote a Python script to do reconciliation between actual interest payments (derived from the transaction list) and expected interest (derived from the loan parts list). That includes doing the "Numberwang" task of recombining split loan parts. The Excel sheet is much more user-friendly of course but the code may be of interest: github.com/mocmocamoc/SavingStreamRecHi trilby ,
My personal version of the spreadsheet sheet includes pretty much the same calculations you describe: reconciliation of the split loans from the transaction list etc. and matching of the interest payments to what is expected from the loan parts. This is done with macros (VBA code) which are triggered to run by various manual actions.
The sheet I posted is vastly simpler to use and contains no macros while remaining accurate to within a few pence of the final SS interest figure. The SS figure varies only with accumulations of odd pennies due to where the rounding is applied during interest calculations of the split loan parts.
I posted the simplified version so that it may be more easily understood and used, with a minimum of instructions. In my experience, understanding and using a spreadsheet of someone else's design can be very tricky.
Many thanks for the pointer to your Python script. I'm sure it will help me iron out any inconsistencies in my personal effort to exactly reproduce the SS calculation.
P.S. Very nicely written code if I may say so.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 19, 2016 9:55:24 GMT
... and sometimes it seems like the more detail they provide, the more people complain. I think that almost all complaints are regarding the lack of information. More information would, I am sure, reduce the complaints.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 18, 2016 20:28:17 GMT
w.r.t. my post above, about eight posts above appeared during writing it (a slow process).
Initially I added this comment as an edit at the bottom. However I removed it a minute or so later because it looked stupid at the bottom of that post.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 18, 2016 20:19:03 GMT
savingstream ,
I have, in my terms, a significant sum invested in your platform. I'm sure most of your lenders would say the same.
The monetary value of my significant sum is not important. What is important is that each lender has their personal limits and will have a similar attachment to their investment irrespective of the actual amount.
We, the lenders, are liable for the majority of the risk and we will lose out if the security is insufficient to recover the invested capital in the case that a borrower defaults.
Do not forget: it is on the basis of our loans that Saving Stream makes its profit. I do not begrudge that profit; it is fair reward for the service provided.
However: it is a vital and seemingly forgotten part of that service with which many of us take issue: surely you must provide us with as much information as possible in order that we can make informed decisions to mitigate our risk as lenders.
Clearly, this communication is not happening.
Please never lose sight of the fact stated above: it is our money from which you derive your profit. Without us, there is no business: effectively, we are paying you.
Do you not think that we deserve the best possible information about our investments?
I respectfully suggest that your communications team start to deliver.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 17, 2016 10:29:20 GMT
I'm guessing jimbob wants the expected term in the overview list of 'pipeline loans' as it is for 'available loans', 'live loans' and the dreaded 'default loans'.
If anyone asks for this in 'repaid loans'...
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Dec 16, 2016 16:36:41 GMT
I've not much invested in Brum This looked quite attractive to some But SS got wary Their DD too scary Now what's in the pipeline to come?
...I'm supposed to be giving up... ...must go back on the tablets...
|
|