|
|
Post by savingstream on Feb 22, 2015 17:47:13 GMT
The superyacht loan went live on the platform on 23/09/2014, the loan actually went live with the borrower on 01/10/2014 and (as a 6 month loan) is due to be repaid by 01/04/2015. This is why we extended the loan term by 8 days. We understand that there are investors in this loan who choose to receive upfront interest (with no secondary market access) and therefore on 23/03/2015 we will allow all investors access to the secondary market for this loan to enable them to sell their loan part if they so wish.
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188 
Likes: 540
|
Post by j on Feb 22, 2015 17:52:10 GMT
I bought most of my holding as monthly interest when it went live on 23 Sept, but I have bought two small parts on the SM since with upfront interest. Using my transaction history and taking the purchase date and the amount of upfront interest received, then my upfront interest for both parts (bought at different times) runs up to the 25th March. The current end date as j notes is 2nd April. I hope savingstream will clarify. One thing this has highlighted yet again is how misleading the 'interest' figures in the 'Live Loan Parts' tab is, the upfront interest parts look identical to any other. I will repeat my and others requests for loan part interest to be shown as both the paid amount and accruing amounts, separately with total as extra if desired. As currently portrayed, coupled with my fairly frequent 'sales' it tells me virtually nothing, and is an almost meaningless figure. Time for a change methinks savingstream  . An addendum to what star dust has spoken about, a decent amount of clarity & tidying up is needed on the website in various areas, most importantly in the detailed dashboard part. SS are a small team, they are growing rapidly & there is enough growth & members to let these issues come to pass at the moment but, it will not last for a long time & investors will start voting with their pockets if these issues do not get addressed quicker. SS in fairness do listen & have made some changes as requested by us. It would be good if more improvements are made a little quicker.
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Feb 22, 2015 17:54:02 GMT
The superyacht loan went live on the platform on 23/09/2014, the loan actually went live with the borrower on 01/10/2014 and (as a 6 month loan) is due to be repaid by 01/04/2015. This is why we extended the loan term by 8 days. We understand that there are investors in this loan who choose to receive upfront interest (with no secondary market access) and therefore on 23/03/2015 we will allow all investors access to the secondary market for this loan to enable them to sell their loan part if they so wish. Clarification appreciated. So will access to SM on 23/3/15 fo those who have made comitted plans already & need the funds earlier as initially expected.
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Feb 22, 2015 18:23:38 GMT
The superyacht loan went live on the platform on 23/09/2014, the loan actually went live with the borrower on 01/10/2014 and (as a 6 month loan) is due to be repaid by 01/04/2015. This is why we extended the loan term by 8 days. We understand that there are investors in this loan who choose to receive upfront interest (with no secondary market access) and therefore on 23/03/2015 we will allow all investors access to the secondary market for this loan to enable them to sell their loan part if they so wish. Will there be buyers for a 7 day loan? 0.23% interest and all the risk?
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Feb 22, 2015 18:38:22 GMT
Will there be buyers for a 7 day loan? 0.23% interest and all the risk? Having seen SS's AM in action I'd bet on it  .
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Feb 22, 2015 18:41:39 GMT
The superyacht loan went live on the platform on 23/09/2014, the loan actually went live with the borrower on 01/10/2014 and (as a 6 month loan) is due to be repaid by 01/04/2015. This is why we extended the loan term by 8 days. We understand that there are investors in this loan who choose to receive upfront interest (with no secondary market access) and therefore on 23/03/2015 we will allow all investors access to the secondary market for this loan to enable them to sell their loan part if they so wish. I assume that those with upfront interest parts who don't choose to sell until the loan is repaid will receive interest for the additional days after the 23rd when it is?
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Feb 24, 2015 19:52:37 GMT
More or less out of curiosity I decided to buy a bit of this loan with upfront interest today, the upfront interest I got paid is up to the 2nd April! I shall have to make a careful note of which loan part is what as I now have three different varieties . |
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Mar 24, 2015 6:48:02 GMT
Just thought I'd confirm to anyone who's interested that loan parts bought with upfront interest to the original term are indeed now able to be sold as SS promised - at least mine are . |
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Mar 24, 2015 6:52:58 GMT
Just thought I'd confirm to anyone who's interested that loan parts bought with upfront interest to the original term are indeed now able to be sold as SS promised - at least mine are . I was going to exit but decided to keep now that an extension is looming. The LTV is very comfortable anyway & SS have asset under lock & key anyway.
|
|
.
.