ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 4, 2014 7:18:22 GMT
1990 Tyne Class Lifeboat & PBL6 have gone live on the platform.
Lifeboat is a roll over of the existing loan
PBL6 offers .5% cashback on predraw down bids & like PBL5 offers offers option of monthly or upfront interest (with no early sale on SM). Not as big as PBL5 so you would expect to fill without SS having to boost cashback.
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oldgrumpy
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Post by oldgrumpy on Aug 4, 2014 8:21:23 GMT
Lifeboats are built to withstand a roll over, aren't they?  |
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Investor
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Post by Investor on Aug 4, 2014 8:41:57 GMT
Sure we all read it last time but just for completeness this is to inform savingstream that the valuation report on the Tyne Class is a missing link on the website. |
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 4, 2014 9:29:17 GMT
Incidently did anyone receive an email alert about the Lifeboat loan going live? I got 3 in 5 mins for PBL6 and a non specific text. Do savingstream send alerts for relisted loans? |
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oldgrumpy
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Post by oldgrumpy on Aug 4, 2014 9:32:13 GMT
Incidently did anyone receive an email alert about the Lifeboat loan going live? I got 3 in 5 mins for PBL6 and a non specific text. Do savingstream send alerts for relisted loans? I got no email about the lifeboat but two emails within a minute for the new bridging loan 8:03 and 8:04.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 4, 2014 9:48:48 GMT
Incidently did anyone receive an email alert about the Lifeboat loan going live? I got 3 in 5 mins for PBL6 and a non specific text. Do savingstream send alerts for relisted loans? I got no email about the lifeboat but two emails within a minute for the new bridging loan 8:03 and 8:04. 8.03! Seems to be a lag in my email as first didnt turn up till 8.11.  On previous experience with small boat loans those 8 mins could easily result in missing the boat. (sorry) Looks like might needs to do so investigating there. Text turned up on time though!
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unmadem
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Post by unmadem on Aug 4, 2014 9:50:46 GMT
PNL6 showing as LTV 15.3% but there is also an existing first charge mortgage for £1,450,000
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oldgrumpy
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Post by oldgrumpy on Aug 4, 2014 9:53:06 GMT
"On previous experience with small boat loans those 8 mins could easily result in missing the boat. (sorry)"
Makes no difference when SS don't send one at all!! High likelihood of falling in the water anyway!! I only found out in time because there was a bridging loan opened at the same time!! 
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star dust
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Post by star dust on Aug 4, 2014 9:59:59 GMT
As far as I am aware SS don't send email alerts out on roll-overs. However, they have posted their intentions to roll loans over on here a couple of times, and if you have any funds in the loan you get an email alert that its repaid just before it goes live again.
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star dust
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Post by star dust on Aug 4, 2014 10:02:49 GMT
PNL6 showing as LTV 15.3% but there is also an existing first charge mortgage for £1,450,000 Well, not only that but the second charge is restricted to 60% LTV, so really it should state that on the overview or description page in my opinion. PBL03 has got a similarly 'distorted' LTV showing.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 4, 2014 10:10:19 GMT
"On previous experience with small boat loans those 8 mins could easily result in missing the boat. (sorry)"
Makes no difference when SS don't send one at all!! High likelihood of falling in the water anyway!! I only found out in time because there was a bridging loan opened at the same time!!
True. Surprised that it was PBL6 actually because when I looked last night when i was funding in anticipation of the Lifeboat rolling that was at status 3, whereas the boat loan also pending was at status 4. That was the one I was expecting & where the delay might have led to missing out. Cue a period of twitchy phone checking until it launches. 
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Investor
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Post by Investor on Aug 4, 2014 10:43:18 GMT
1990 Tyne Class Lifeboat & PBL6 have gone live on the platform.
Lifeboat is a roll over of the existing loan
PBL6 offers .5% cashback on predraw down bids & like PBL5 offers offers option of monthly or upfront interest (with no early sale on SM). Not as big as PBL5 so you would expect to fill without SS having to boost cashback. A few hours in and it has only just reached 25% funded, slowest take-up ever on savingstream with only 127k loaned against it in that time. Looks like a proportion of that has come from other PBL loans being sold on SM and diversified into it, so not new money just a re-cycling exercise. Not sure this one is going to fill without an additional cashback incentive. Maybe too many savvy investors waiting to see what the next move will be, and as there is a similar sized PBL at stage 3 wondering if SS will need to put the incentive back in to boost investment. Last additional cashback generated >£300k in less than 7 days so the money seems to be available if the right platform ask the right people in the right way.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Aug 4, 2014 11:04:34 GMT
1990 Tyne Class Lifeboat & PBL6 have gone live on the platform.
Lifeboat is a roll over of the existing loan
PBL6 offers .5% cashback on predraw down bids & like PBL5 offers offers option of monthly or upfront interest (with no early sale on SM). Not as big as PBL5 so you would expect to fill without SS having to boost cashback. A few hours in and it has only just reached 25% funded, slowest take-up ever on savingstream with only 127k loaned against it in that time. Looks like a proportion of that has come from other PBL loans being sold on SM and diversified into it, so not new money just a re-cycling exercise. Not sure this one is going to fill without an additional cashback incentive. Maybe too many savvy investors waiting to see what the next move will be, and as there is a similar sized PBL at stage 3 wondering if SS will need to put the incentive back in to boost investment. Last additional cashback generated >£300k in less than 7 days so the money seems to be available if the right platform ask the right people in the right way. When I typed that it was on the basis that it is 25% of PBL5 and people had been starved of loans so it might do better. Then promptly jumped into the 'savvy' camp and held back from investing to see how it went.  PBL5 had a big chunk of underwriting, dont know if this has or will receive similiar as I dont seem to be able to access the docs on my tablet for some reason.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Aug 4, 2014 13:01:03 GMT
1990 Tyne Class Lifeboat & PBL6 have gone live on the platform.
Lifeboat is a roll over of the existing loan
PBL6 offers .5% cashback on predraw down bids & like PBL5 offers offers option of monthly or upfront interest (with no early sale on SM). Not as big as PBL5 so you would expect to fill without SS having to boost cashback. A few hours in and it has only just reached 25% funded, slowest take-up ever on savingstream with only 127k loaned against it in that time. Looks like a proportion of that has come from other PBL loans being sold on SM and diversified into it, so not new money just a re-cycling exercise. Not sure this one is going to fill without an additional cashback incentive. Maybe too many savvy investors waiting to see what the next move will be, and as there is a similar sized PBL at stage 3 wondering if SS will need to put the incentive back in to boost investment. Last additional cashback generated >£300k in less than 7 days so the money seems to be available if the right platform ask the right people in the right way. My memory is a bit different here - I seem to recall PBL002 took many, many days to fill, so I'm not finding PBL 006 that slow really - but I may be misremembering. I don't think this is going to take all that long to fill really - maybe a few days, but doubt if it will be much more - time will tell if I'm right. I got more of the lifeboat money back than I was allowed to put back in, so most of that went straight into PBL 006, mainly because I don't think it will be offering more. If I'm wrong I'll liquidate something else to put more in then.
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star dust
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Post by star dust on Aug 4, 2014 15:38:02 GMT
A few hours in and it has only just reached 25% funded, slowest take-up ever on savingstream with only 127k loaned against it in that time. Looks like a proportion of that has come from other PBL loans being sold on SM and diversified into it, so not new money just a re-cycling exercise. Not sure this one is going to fill without an additional cashback incentive. Maybe too many savvy investors waiting to see what the next move will be, and as there is a similar sized PBL at stage 3 wondering if SS will need to put the incentive back in to boost investment. Last additional cashback generated >£300k in less than 7 days so the money seems to be available if the right platform ask the right people in the right way. My memory is a bit different here - I seem to recall PBL002 took many, many days to fill, so I'm not finding PBL 006 that slow really - but I may be misremembering. I don't think this is going to take all that long to fill really - maybe a few days, but doubt if it will be much more - time will tell if I'm right. I got more of the lifeboat money back than I was allowed to put back in, so most of that went straight into PBL 006, mainly because I don't think it will be offering more. If I'm wrong I'll liquidate something else to put more in then. I'm with you ramblin rose on this one, nearly £200k gone today already. I don't think it will be around that long, the only saving grace will be I don't thnk it will be blink and you'll miss it, so all those holding out will have time to form an orderly queue at the rear .
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