|
|
Post by supernumerary on Oct 7, 2016 11:13:27 GMT
Somethings happening PBL020 has disappeared from live loans You beat me to it...  I wonder if there will now be a forthcoming imminent announcement from Saving Stream. I have no loan slices in this, but obviously it interesting to see what happens when a situation like this unfortunately arises. 
|
|
|
|
Post by supernumerary on Oct 7, 2016 11:15:00 GMT
It has gone in to a new Colum Default Loans Well spotted... 
|
|
hantsowl
Member of DD Central
Posts: 672 
Likes: 546
|
Post by hantsowl on Oct 7, 2016 11:15:03 GMT
Makes a good deal of sense. Any newbie would find it harder to buy some by mistake if it is hidden away under a tab labelled default.
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Oct 7, 2016 11:17:45 GMT
It has gone in to a new Colum Default Loans Fiddlesticks. Fix one website tweak and there is another. 
|
|
dovap
Member of DD Central
Posts: 467
Likes: 410
|
Post by dovap on Oct 7, 2016 11:20:27 GMT
handy new column to have I suppose
plenty room for new additions
|
|
james
Posts: 2,205
Likes: 955
|
Post by james on Oct 7, 2016 12:25:00 GMT
Ah, I see. Yeah got you now. We covered this in June when it went into default. Sorry, slight confusion! That's a great list ilmoro Yes, you did a really great job of illustrating how investors were misled about the security value when you wrote: "Saving Stream only ever lend at 70% the value of the asset securitizing the loan. In this instance the loan value was £1,701,000.00 on an asset worth £2,430,000.00. This equals 70% Loan to Value (LTV)." Your story might be used in any FOS or legal action against Saving Stream / Lendy to illustrate what people thought the security was worth. Part of the problem was the wording in the valuation you quoted saying "with all the applicable planning consents attached" which you and lenders seem not to have recognised was the main clue that planning permission had not been given for the green belt development involved... and it never was granted. You also didn't seem to mention that this is of the loan generation where Lendy had given their own corporate guarantee. And that will also matter if FOS or legal action against Saving Stream / Lendy becomes appropriate.
|
|
|
|
Post by martin44 on Oct 7, 2016 12:34:01 GMT
I'm not sure i like the info at the top of the defaults page, anyone in pbl20 please read, i think there may have been a shift in sentiment.
'Monthly interest payments are not guaranteed. We are taking all appropriate steps to recover 100% of the capital from these loans.'
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Oct 7, 2016 13:56:24 GMT
I'm not sure i like the info at the top of the defaults page, anyone in pbl20 please read, i think there may have been a shift in sentiment. 'Monthly interest payments are not guaranteed. We are taking all appropriate steps to recover 100% of the capital from these loans.' Shouldn't that say 'up to' or 'attempt to' in the relevant parts.
|
|
|
|
Post by dodgeydave on Oct 7, 2016 14:05:38 GMT
Do you not think SS have added this new tab so they can clean up the live loans page.
It could of put a few people of as it was the first thing that they see when they logged in. It is now hidden and i suspect most people unless they have money in a defaulted loan will never look at the new tab.
|
|
|
|
Post by martin44 on Oct 7, 2016 14:10:21 GMT
Do you not think SS have added this new tab so they can clean up the live loans page. It could of put a few people of as it was the first thing that they see when they logged in. It is now hidden and i suspect most people unless they have money in a defaulted loan will ever look at the new tab. Ooo you cynic, perish the thought.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Oct 7, 2016 14:25:39 GMT
Do you not think SS have added this new tab so they can clean up the live loans page. It could of put a few people of as it was the first thing that they see when they logged in. It is now hidden and i suspect most people unless they have money in a defaulted loan will never look at the new tab. You mean like every other platform, who prefer not to welcome investors with a big defaulted loan? Seems eminently sensible to me.
|
|
|
|
Post by dodgeydave on Oct 7, 2016 14:28:23 GMT
It took them a while to work it out. Why now ? Will it have some company soon.  |
|
|
|
Post by carbonr1 on Oct 7, 2016 14:45:48 GMT
It took them a while to work it out. Why now ? Will it have some company soon. Sounds like a poll to be had here, no where's that defunct robot when you need it?  ?
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Oct 7, 2016 15:59:03 GMT
It took them a while to work it out. Why now ? Someone on this forum, I forget who, suggested a new tab for defaulted loans a few days ago. I guess SS thought is was a good idea, which of course, it was, from a business POV anyway. Yes, that is correct. see the thread: p2pindependentforum.com/thread/6660/suggestion-boxNothing mysteriuos about this. Thanks savingstream.
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Oct 7, 2016 16:21:07 GMT
Do you not think SS have added this new tab so they can clean up the live loans page. It could of put a few people of as it was the first thing that they see when they logged in. It is now hidden and i suspect most people unless they have money in a defaulted loan will never look at the new tab. I'm hoping this is an instruction from the FCA and full authorisation is near and hence the ISA will be launched any day
|
|
?
