Investor
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Post by Investor on Oct 15, 2014 14:09:03 GMT
And from the same Website page
"It is reassuring to know that if a borrower defaults, Saving Stream can sell the asset and repay my funds from the proceeds."
JAMES MARSHALL,
DEVON, UK
Nice to know that James is still well and happy with his SS investments. Given his recovery from Crohn's disease, skin cancer, hair loss problems and worst of all having to live in France, I would hope you will all join me in wishing him all the very best.
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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 Oct 15, 2014 14:59:51 GMT
Thank you Investor - it's good to know a former career stomping corridors and generally bossing people around didn't go to waste, and that there's somebody left who will still do my bidding  . But seriously, it is interesting to see the graphs now and again.
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j
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Penguins are very misunderstood!
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Post by j on Oct 15, 2014 17:48:23 GMT
Can you feel the looove on this thread?  |
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mikes1531
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Post by mikes1531 on Oct 24, 2014 18:34:32 GMT
savingstream: PBL011 received a massive £440k investment today. Was that from an underwriter? Or has this loan opportunity effectively become unavailable for smaller lenders? Also, can we please have an update on the borrower's situation and how that might affect the timing of drawdown for this loan -- along with PBL012 and PBL013 -- or the likelihood that these loans will not proceed at all?
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Liz
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Post by Liz on Oct 24, 2014 18:58:59 GMT
Loads left when I bid 4400.00.
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kermie
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Post by kermie on Oct 24, 2014 19:04:19 GMT
Loads left when I bid 4400.00. Not sure if that's a joke or if you need to get in touch with savingstream PDQ. From the "recent activity", there is indeed a £440k bid today from "t*********1". Ah...the all-important decimal point! IN EDIT: I'm an idiot, of course you're joking.
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Liz
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Post by Liz on Oct 24, 2014 19:24:17 GMT
lol
Yes only joking! But I am suspicious of the bid, error? Joker? Or maybe an institution.
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mikes1531
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Post by mikes1531 on Oct 24, 2014 22:49:07 GMT
Yes only joking! But I am suspicious of the bid, error? Joker? Or maybe an institution. Whoever placed that bid wasn't joking, as the SS system won't let you make a bid for more than your surplus cash balance. So whoever placed that bid must have had £440k sitting idly in their account at the time.
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Liz
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Post by Liz on Oct 24, 2014 22:55:26 GMT
Can you instant credit large amounts, without funding your account? We have seen SS saying they have reversed bids that weren't funded. Time will tell, and I see this bid(and more to come)as positive for the site.
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mikes1531
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Post by mikes1531 on Oct 25, 2014 1:48:30 GMT
Can you instant credit large amounts, without funding your account? We have seen SS saying they have reversed bids that weren't funded. Time will tell, and I see this bid(and more to come)as positive for the site. I suppose so. I don't know what limits SS put on instant deposits. I've certainly never come up against a limit. But then I've never tried to do £440k worth of deposits in one go. Still, I'll bet on an underwriter. If it's just an 'ordinary' investor it does not bode well for the rest of us mere mortals.
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Post by Deleted on Oct 25, 2014 12:50:52 GMT
£440k earns £144 interest a day.
My bank is offering personal loans at 4.9% APR and I just got an online quote for £10,000 over 1 year.
Borrow £10,000.00 over 1 year Representative 4.9% APR Interest rate, 4.90% p.a. (Fixed) will cost £855.11 per month, Total amount repayable: £10,261.32
So if I get my £10,000 from the bank I invest it in SS at 12%. I repay the bank £10,261 over the year but at the end of the year I have £10,000 + £1,200 interest = £11,200.
I make a £939 profit in 1 year by using someone else's money. Make it a £25,000 loan and I make over £2,300.
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Post by phoenix on Oct 25, 2014 13:05:34 GMT
I make a £939 profit in 1 year by using someone else's money. Make it a £25,000 loan and I make over £2,300. You're quids in, right enough -- until there's a default. 
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mikes1531
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Post by mikes1531 on Oct 25, 2014 13:15:29 GMT
£440k earns £144 interest a day. My bank is offering personal loans at 4.9% APR and I just got an online quote for £10,000 over 1 year. Borrow £10,000.00 over 1 year Representative 4.9% APR Interest rate, 4.90% p.a. (Fixed) will cost £855.11 per month, Total amount repayable: £10,261.32 So if I get my £10,000 from the bank I invest it in SS at 12%. I repay the bank £10,261 over the year but at the end of the year I have £10,000 + £1,200 interest = £11,200. I make a £939 profit in 1 year by using someone else's money. Make it a £25,000 loan and I make over £2,300. @interesthunter: There's a bit of a flaw above, in that the SS loan will pay interest only, whereas the bank loan is an amortising loan. So £10k borrowed and put into SS would generate £100/month of income, while the payments on the borrowed money would be £855/month. So it would work only if you have £755/month from elsewhere that you could put to this project. Part of the reason the 'profit' looks so good is that the decreasing balance of the bank loan means the average amount borrowed over the year is only £5k. Then there's the income tax issue: The £1200 earned from SS is taxable. If you pay tax at the basic rate, that would knock £240 off the 'profit'. And if you're so fortunate as to be a higher rate taxpayer, then the taxman would take £480 of the 'profit'. There's also the risk involved. The SS loan might be repaid early, and at that time there might not be another investment opportunity available to redeploy your money into. And if there's a problem at SS and some of your investment is lost... And finally, there's the question of whether you really could borrow that money from your bank at 4.9%. If the online quote was just giving a 'representative' APR, then there's a good chance that if you actually tried to proceed you'd find that you're part of the 49% of borrowers that don't qualify for the 4.9% rate, and you'd be offered the loan at a higher APR. And if the quote was an actual quote, you should be aware that the request may have been noted on your credit report.
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Liz
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Post by Liz on Oct 25, 2014 14:37:34 GMT
You could always borrow on your mortgage over 25 years@ 3%. And have 9% paid off the amount every year. |
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Post by gaspilot on Dec 2, 2014 8:54:59 GMT
What is happening with the interest on PBL 11/12/13?
I've received no interest so far.
Are we accumulating interest that will be paid after drawdown or is the money sitting there idle?
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