mikes1531
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Post by mikes1531 on Sept 11, 2015 15:16:21 GMT
Got just under 40% of my prefunding target for PBL55. So the next stage of the game will be to request more than you actually want and expect to be scaled down, and if you get too much then sell any surplus... This was something I thought of as a downside when they initially announced the prefunding, but didn't mention it because when I read the description again, that's not how they said it would work. I think doing it this way is probably fairest*, it's just not what they said, and the downside is that some people will prefund more than they want to deposit, to try and play the system to end up with how much they actually want. * For example for a £1m loan, if 900 people bid £1k and 11 people bid £100k, it seems fairer to give everyone 50% of what they bid, than to give the 900 people £1k and the 11 people £9k (plus small change). Not only is the allocation method not what SS said, it's not what SS still are saying! There's a 'New Pre-funding option available' link in the News section of my Dashboard. If I click on that I'm shown a PDF document showing the allocation method as originally described. I wonder how long it will be before SS update that document to reflect how allocation really works?
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Investor
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Post by Investor on Sept 11, 2015 16:16:08 GMT
Would also like the Pre-Funding link on the drop down from the Accounts section in the header bar to point directly to the pipeline page. Cannot get the logic of it dropping you onto a page that states.
'Pre-funding has now moved to the Pipeline page. Click here to view the Pipeline page.'
and then giving you a link to the page you wanted when you first clicked on the original link. Seems a bit like finding a note on the kitchen table that says 'your dinner is in the oven' and when you open the oven there is a note that says 'I haven't done dinner tonight'
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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 Sept 18, 2015 11:33:00 GMT
Another biggie just added to list with Valuation - Student Halls Conversion, 3.08m v 5.43m
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SteveT
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Post by SteveT on Sept 18, 2015 12:17:44 GMT
Another biggie just added to list with Valuation - Student Halls Conversion, 3.08m v 5.43m And this time it seems to have picked up my "default" Pre-Funding figure automatically, so that bug is fixed.
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Investor
Member of DD Central
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Post by Investor on Sept 18, 2015 12:25:48 GMT
Wonder if savingstream can confirm whether this is the same borrower as PBL25? |
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Post by savingstream on Sept 18, 2015 14:46:58 GMT
This is a new borrower; unrelated to any other loans on the platform - past or present. Fantastic background, very strong A & L, likes his rugby.
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grahamg
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Post by grahamg on Sept 21, 2015 21:48:05 GMT
Two new stage 4 loans in pipeline! No documents yet. Portfolio of 24 apartments, Wolverhampton £3,500,000 £2,450,000 70% 4 Commercial Residential conversion, Wolverhampton £2,500,000 £1,500,000 60% 4 Still no documents 10 days later, not good maybes ss can comment. How are we supposed to make invest decisions? how can these loans be at the same stage as those with docs?
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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
Likes: 11,549
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Post by ilmoro on Sept 21, 2015 22:04:56 GMT
Two new stage 4 loans in pipeline! No documents yet. Portfolio of 24 apartments, Wolverhampton £3,500,000 £2,450,000 70% 4 Commercial Residential conversion, Wolverhampton £2,500,000 £1,500,000 60% 4 Still no documents 10 days later, not good maybes ss can comment. How are we supposed to make invest decisions? how can these loans be at the same stage as those with docs? Theyve said that the valuations are due today in the latest update but I would assume they also have to scan & redact them if necessary before putting on the site. They have also said elsewhere that they do not guarantee documents being available before loans are launched if there is a quick turn around. Loan docs werent available until launch previously and those loans were at stage 4 (not sure stages actually have much meaning as nothing has appeared before stage 4 since PF) so this is an improvement. No loan has launched without documents since PF introduced and the timescales are elongated. Lets face it Hackney was supposed to launch 10days ago. Nothing for Somerset either which has been listed longer
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Post by pepperpot on Sept 22, 2015 10:23:10 GMT
L'pool student halls has been allocated PBL59.
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arbster
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Post by arbster on Sept 22, 2015 10:35:03 GMT
L'pool student halls has been allocated PBL59. And gone live. Is it the end of the week already...?
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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
Likes: 11,549
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Post by ilmoro on Sept 22, 2015 10:58:59 GMT
Two new stage 4 loans in pipeline! No documents yet. Portfolio of 24 apartments, Wolverhampton £3,500,000 £2,450,000 70% 4 Commercial Residential conversion, Wolverhampton £2,500,000 £1,500,000 60% 4 Still no documents 10 days later, not good maybes ss can comment. How are we supposed to make invest decisions? how can these loans be at the same stage as those with docs? Docs now up as promised
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grahamg
Member of DD Central
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Post by grahamg on Sept 22, 2015 18:00:46 GMT
What's the best way to pre fund.
Pre fund everything on the basis that the SM is very liquid or fuss over individual loans?
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SteveT
Member of DD Central
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Post by SteveT on Sept 22, 2015 19:13:10 GMT
What's the best way to pre fund. Pre fund everything on the basis that the SM is very liquid or fuss over individual loans? Assume you'll get most / all of anything bigger than about £2.5m (and that SM could take a while to sell through what's left above that level(. Anything below £2m is likely to be fully / over-subscribed.
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Post by Deleted on Sept 22, 2015 21:33:56 GMT
PBL 59 - Liverpool : 'Primary lender has rescinded their offer of further finance for completely unrelated reasons' .... would be useful to know what those reasons were.
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Post by supernumerary on Oct 12, 2015 9:20:03 GMT
Quite a few things coming though this week. More details to follow in Tuesday update. Recalling this announcement at the end of August 2015, as the prelude to a substantial list of pipeline loans for September 2015, which initially saturated the market and as a consequence, drew in 400 to 500 new lenders onto the Saving Stream platform. Today it is looking as if that 'September tranche' will be fully funded, when do you expect more loans to be listed in 'the pipeline'?
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