geoff
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Post by geoff on Mar 4, 2016 12:04:12 GMT
He (or she) may be back already, under a new user name and email. It must be almost impossible to ban someone. Perhaps we should have a poll on what his/her new name is. Dude? STOP IT!!! Hang on a minuite.... how do you know that sunspot has been banned geoff ? It's not on his account, and the MODs haven't mentioned it...... This postTry to keep up cooling_dude
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geoff
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Post by geoff on Mar 4, 2016 9:01:56 GMT
It seems to me that it's pointless us going around in circles speculating, on what may or may not have been a miswritten post by savingstream ; it has the potential to spiral into unnecessary quarrels (we all know of one troll who would love to escalate the situation) -------------- Could we draw a line under this thread until such a time savingstream edits their original post or comment directly on the subject........ What's your problem? The point of this forum is to discuss, debate, and yes, speculate on these issues, and from those discussions may come a greater understanding. There may be disagreement, even argument (heaven forbid!), but nothing wrong with that. I may be in the minority here, but I'm sorry that sunspot has been permanently banned. I believe he brought some interesting alternative ideas and viewpoints to the table. It seems to me that some forum members were not able to deal with this, and something of a playground mentality took hold. Very unedifying. Anyway back on topic, I'm with mikes1531 meledor and star dust on this, that is, the existing PM rules now applying to the SM. The OP, I agree was somewhat ambiguous but I'm sure official clarification will be forthcoming.
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geoff
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Post by geoff on Mar 1, 2016 9:39:14 GMT
That's your opinion. I have long argued that since the introduction of pre-funding INPL should go as whilst convenient it is incompatible with pre-funding. INPL ? Invest Now Pay Later?
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geoff
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Post by geoff on Feb 27, 2016 18:34:09 GMT
Apologies if this is covered elsewhere, searched but couldn't find anything. Just come across this on the SavingStream website and wondered if anyone knew anymore? www.sippclub.com/saving-stream/ Pension Investment This new link is at the bottom of Saving Stream's website pages.
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geoff
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Post by geoff on Feb 24, 2016 22:20:48 GMT
On new Ts&Cs loans when does the interest stop accruing? As soon as the loan becomes overdue or when SS declare that it is default, or some other time? You mean start accruing I assume. It would start accruing from the point the loan term expired. It would then be up to Savingstream & SSSH how they handled the situation as they have authority to restruct the loan contract or enforce security. They need to give us 5 days notice but we dont have any say. T&Cs Clauses 9.6-9.9 All parts of 12 & 13 This post by Saving Stream last year explains the differences between the old and new T&Cs including details of how a default will affect interest arrangements. Clearly a default will be an explicitly declared event and not merely an overrun of the original loan term.
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geoff
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Post by geoff on Dec 23, 2015 22:55:57 GMT
This is my understanding: It's absolutely correct for the loans under the old T&Cs. It's partially correct for loans under the new T&Cs. Under the new T&Cs interest will still be paid with negative remaining days up until the point at which the loan goes into default. At this point interest will cease to be paid and will be accrued until the loan is wound-up. Outstanding interest will then be paid in full or in part depending on the amount of recovery. We haven't had a default under the new T&Cs yet, so we haven't seen exactly how this will work in practice (and let's hope it's a long time before we do). I suppose (expect) that if a loan defaults under the new T&C we will be informed and that it will stop trading on the SM. I recall that whilst PBL 7 was officially in default, SM trading of that loan was allowed to continue. More recently, Saving Stream have indicated that trading of a defaulting loan will still be possible. Ref. p2pindependentforum.com/post/59555
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geoff
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Post by geoff on Dec 8, 2015 12:31:36 GMT
savingstream No SMS or email notification for the latest new loan releases. If this is now your policy then you are, in my opinion, unfairly restricting the limited opportunity for SM purchases to a select band of permanently logged-on forum members and/or platform users. On the other hand maybe you just forgot this time.
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geoff
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Post by geoff on Nov 19, 2015 11:33:32 GMT
I'm still not sure any SMS texts went out yesterday. I'd already added my mobile phone number again before PBL065 went live and didn't get one. Didn't they stop sending the sms out on fully pre-funded loans a while ago? Not much point really. No, savingstream have said that new loan notifications will go out even if fully prefunded. There is very much a point to this as new loans posted on the platform invariably trigger an increase in investment opportunities on the SM.
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geoff
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Post by geoff on Oct 4, 2015 11:48:23 GMT
Personally I'm not all that concerned with tinkering around the edges. The one biggest single improvement that savingstream could make, in my opinion, is in communication. I've noticed today that the superyacht has again been extended by 3 months, despite apparent confidence of repayment end of last month. Is it really too much to ask that savingstream keep us informed of this sort of thing?
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geoff
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Post by geoff on Sept 4, 2015 18:00:04 GMT
Am I alone in not liking this and preferring the previous version? Suppose I have £1000 available to invest. Before, I simply put £1000 in prefund. Now there are currently 6 prefunds. If I put £1000 into each and multiple ones come up before I notice I may commit to anything up to £6000. If I put £166 into each and one loan comes up I only get £166. If we are going to have separate prefunds for each loan there needs to be in addition a maximum total figure which will not be exceeded. If you have £1000 to invest, hedging your bets by prefunding 6 loans at £1000 each, but at the same time, wanting your total investment to be limited to £1000 seems to me a bit like betting on 6 numbers at a roulette table and if one comes up, asking the croupier to return your other 5 bets! OK, maybe not the best analogy but you get my drift.
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geoff
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Post by geoff on Sept 4, 2015 14:36:01 GMT
Forgotten the superyacht! Or perhaps it sailed into the Bermuda Triangle PBL6 information also applies to Superyacht - same borrower.
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geoff
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Post by geoff on Jul 17, 2015 20:08:45 GMT
I see superyacht left the marina a couple of hours ago and is headed off down the Adriatic. An LTV of 15% is very nice, but if 'push comes to shove' asset disposal-wise - first you gotta catch your superyacht! I take it we've had genuine sightings of said yacht sailing into the sunset? www.vesselfinder.com/?imo=9360049
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geoff
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Post by geoff on Mar 30, 2015 17:41:51 GMT
In the case of PBL6 & SY its being paid by the borrower (see latest update). Perhaps I'm just blind, or perhaps I've missed a more recent update, but I see nothing in the 27/Mar update that indicates that the borrower has agreed to pay the extra PBL006 and SY interest monthly. Should I be looking somewhere else? From 27/3 update
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geoff
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Post by geoff on Mar 3, 2015 13:58:59 GMT
I am new to SavingStream and I am a bit confused with my interest payments as well. In my 'Dashboard Overview' it says my available funds are £1.96. But in 'Live Loan Parts' it says my total interest is £2.50. Strange. The total interest showing in 'Live Loan Parts' is accumulative interest accrued day by day over the life of the loan parts you hold. However available interest for withdrawal or reinvestment is only credited to your account monthly. The difference you are seeing will be interest accrued since last month's payout.
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geoff
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Post by geoff on Feb 11, 2015 13:05:07 GMT
It's a year or more since I looked, admittedly, but the 1.5% to 3% pm mentioned by will is along the lines of what I remember. Maybe the rates are coming down as competition in the field hots up? Or maybe those lower rates would only be available in certain circumstances? ramblin rose SS's Home page states that borrowers pay a rate of between 1.5% and 3% per month. I'm sure it will be a sliding scale related to the size of the loan. IMHO this rate will also exclude legal fees etc. Interestingly, Lendy's website states "Rates from 0.75% per month".
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