twoheads
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Post by twoheads on Dec 6, 2016 23:17:43 GMT
oldgrumpy , I fully agree with your capitalised plea to SS.
Pardon if I'm wrong but if I recall avatars correctly, I seem to think yours has recently received food for thought.
In any case... whether or not my avatar memories are 20/20, I would say your shout is spot on.
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twoheads
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Post by twoheads on Dec 6, 2016 17:30:52 GMT
robthos , It is the total interest of all your live loan parts to date. It increases each day (at or just after midnight I think).
You can get an idea of your total interest to date by adding the interest from your live loans, selling loans, sold loans and repaid loans.
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twoheads
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Post by twoheads on Dec 6, 2016 17:11:06 GMT
I've also written a process that reconciles every payment and this had me scratching my head for quite a while! This is how much interest you would have received for buying/selling a part on these dates: Buy 31/7, Sell 1/8: 1 day interest paid on 1/8, no interest paid on 1/9 Buy 31/7, Sell 2/8: 1 day interest paid on 1/8, 2 days interest paid on 1/9 Buy 31/7, Sell 3/8: 1 day interest paid on 1/8, 3 days interest paid on 1/9 Clearly that doesn't make sense but it is what happens. In fact only the first of these is the correct behaviour (one day's interest for holding the part for one day) while the others are incorrect (e.g. three days' interest for holding the part for two days). I've been trying to work out why I always receive a little more interest than I expect.
Of course I made the obligatory spreadsheet to calculate interest and found that SS sometimes pay an extra day's interest on a loan part. I worked out that the extra day's interest is added on any loan part sold during the month but which was bought in a previous month.
I then trawled the forum to see if this had been noticed before. Of course it had!
However, unlike the observation of trilby , above, I also receive the extra day of interest if I sell on the 1st of the month.
Example: on Oct-25 I bought £100 of PBLxxx. I sold this on Nov-01. In the October interest I received 7 days worth (£0.23) and in the November interest I received a further 1 day (£0.03).
If I export the transactions for my account to Excel, the loan part in question correctly states that it is a seven day loan part and that the interest is, correctly, 23 pence.
This extra day of interest is given by SS on every sold loan part which was bought in a previous month. Only by including this extra day do my interest calculations perfectly match those of SS.
Of course, the more you buy and sell on the SM, the more likely you are to receive odd extra days. I 'play' a lot. My average return is actually 12.168%
Keep it quiet.
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twoheads
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Post by twoheads on Dec 5, 2016 17:49:00 GMT
Regarding the notion that p2p couldn't survive a significant downturn or credit crunch then I'd also fear that's true, I fear it would be complete Armageddon. Do the people who run p2p sites stand to lose anything personally or will it only be us lenders that lose out. As far as Lendy/SS is concerned, they will not lose out on existing loans. In theory, all the loans are funded by us. For sure they keep some for themselves but they don't need to.
Even if there is 'maximum Armageddon' and all lenders try to sell all their loan parts, all this means is that there would be £147M available for sale on the SM with nobody wanting to buy. This is a mere shifting of lenders loan parts from the 'Live' category to 'Selling' category; nothing else. The same lenders (us) would still be lending to the same borrowers.
SS would find it rather difficult to fund the next loan and their business would collapse as the interest dries up as loans are (hopefully) repaid.
In this situation, the lenders must hope that the loans are either repaid in due course or that the securities will cover the loan values in case of defaults.
If the Armageddon means that many loans default with insufficient security then it is the lenders of those loans who will lose out.
That's how I see it anyway!
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twoheads
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Post by twoheads on Dec 5, 2016 17:08:16 GMT
Also, you don't need to have a Euro account. I use Transferwise to transfer funds. It's very cheap. I concur with the Transferwise recommendation. I've been using it for a two or three years now to fund a Euro account which I use for foreign travel. It works out quite a bit cheaper than using banks for such transactions between currencies.
Previous to Transferwise, I used an online currency trading site which worked out even cheaper. Unfortunately they stopped my account because I wasn't actually doing what they saw as 'real currency trading'. I was merely funding a trading account in GBP, shifting it to a EUR sub-account (when I liked the rate) and making EUR withdrawals. It worked well while it lasted!
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twoheads
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Post by twoheads on Dec 5, 2016 16:24:23 GMT
Tranche Live £75 allocation Edit - and a second £75.... I think savingstream has sent the allocation twice Yes... I received two lots of £75. Weird?
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twoheads
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Post by twoheads on Dec 5, 2016 10:25:23 GMT
Deafening silence! I wonder what is happening with this loan? Only 8 days to go, yet no update / encouragement / hope from SS. And no chatter here at P2PIF. Poor PBL106 - no one is interested in it any longer. I'd like to hazard a guess it may settle at the same time as 95 Not in either of these but just out of interest...
What's the connection between 095 and 106? (apart from both being Scottish, even though Lanark is reportedly in South Lancashire according to the 095 valuation: page 6).
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twoheads
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Post by twoheads on Dec 5, 2016 9:35:22 GMT
It's a shame you have to lookup DFL005 in the 'live loans' to find that there are 274 days to run on this one.
Sometimes SS fill in the remaining time on a new pipeline tranche (DFL008) and sometimes not (DFL005).
Or do SS only fill in the days to run on a new Tranche once it's 'live' date is announced?
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twoheads
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Post by twoheads on Dec 2, 2016 10:01:12 GMT
12am. Barge pole is a noun although sometimes turned into a verb for SS loans as in the latest 12% negative day loan being resurrected as a 9/10% pipeliner is 'to be barge-poled'. Thanks. Grammar is clearly not my strong point, especially after a few beers in an airport lounge!
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twoheads
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Post by twoheads on Dec 1, 2016 18:35:54 GMT
Please don't let the SM precedent fool you; it could change at the flip of a coin (for a variety of reasons). Always invest with this in mind. Wise words indeed.
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twoheads
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Post by twoheads on Dec 1, 2016 17:29:23 GMT
Does the SM always dry up when SS pay the interest out?
I can imagine that the (circa) £1.4M paid out to lenders today causes a bit of a rush to reinvest but really, some of the loans are simply 'barge pole' material (to borrow an oft used adjective used loan description from elsewhere on this forum).
Not that I'm complaining. As long as you can sell any old rubbish on the SM, you can be reasonably certain that, if necessary, you can liquidate your pot or get out of anything that looks like it may turn bad.
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twoheads
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Post by twoheads on Nov 30, 2016 22:38:05 GMT
Liz and others are just having a bit of a dig at SS for using that %. LTGV is a pointless, untruthful and misleading figure. As soon as a new tranche is released, the % increases, and it will be less ( much less in the early stages of dev) than the final LTV unless it is the last tranche and the build is very close to completing. IMHO (and JMHO) LTGV should be ignored on the DFLs. Where possible a current LTV should be used, or alternatively, and if available, a final LTGV (so in this case 60%). When DFL001 & 002 was released, SS used the 'anticipated full loan' / 'GDV' as the headline LTGV figure, but then changed it; this is what I would prefer to see savingstream . I don't mind them using a LTGV, but the 15% figure is just a pointless, meaningless and misleading figure. Why don't savingstream just quote the 60% LTGV figure? At least that means something. DFL assumption: The DFL security is the property being developed. The total GDV is a completely useless figure if the development goes wrong.
The important information for us lenders is the total current loan versus the total current value of the security (this could be the 90 day sale value but I would prefer the current sale value).
When SS releases any tranche of a DFL, they will (presumably) check the current value of the security. If they don't then I would ask 'why not?'
We need to know two key pieces of information: - The total loan value (all tranches including the next on offer) versus current value of the security. I would call this the 'current LTV', with no mention of the irrelevant 'developed value'. This gives investors some insight into the risk factor, similar in some ways to the risk factor of PBL secured against a fixed asset which is not being developed.
- The maximum loan value versus security value that SS will offer in subsequent tranches. This gives investors an idea of how the maximum risk will change as development proceeds.
Obviously with each new tranche, the total loan increases. But also, with each new tranche, the security value (assumption above) will increase and the LTV% will reflect both the total loan and the latest update on the security value. I am assuming that SS check the current development with each tranche they release.
I would like to see, for each tranche, an LTV calculated as: Total loan including the current tranche versus current sale value of the development.
This is may well be an over simplified model but it makes sense to me.
Criticism and corrections are expected.
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twoheads
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Post by twoheads on Nov 30, 2016 21:28:13 GMT
Hi On the live loans page, it lists interest. This number far exceeds the 1% of live loans I was expecting. Is this the best number to use for expected interest at the end of the month or best to use 1% (on average) of live loans? Thanks If you know the total interest on your account at the start of the month then it's easy (sorry, I expect you know that already):
Add the total interest at the bottom of your 'live loans', 'selling loans', 'repaid loans', and 'sold loans' and then subtract your total interest at the start of the month. This will reveal (roughly) your interest for this month so far.
If you don't know your total interest at the start of the month then I can't think of a quick method and I reckon you're into some spread-sheet work.
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twoheads
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Post by twoheads on Nov 29, 2016 23:00:55 GMT
Give In You Fools?
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twoheads
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Post by twoheads on Nov 29, 2016 17:36:27 GMT
Doesn't float my punt.
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