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Post by Deleted on Sept 3, 2015 8:40:22 GMT
Does anyone have any idea which loan is coming next ?, would help when setting the pre-funding level.
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adrianc
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Post by adrianc on Sept 3, 2015 8:48:11 GMT
Does anyone have any idea which loan is coming next ?, would help when setting the pre-funding level.
SS have already said no - because it entirely depends on how quickly the legals get i-dotted-t-crossed for each of the pipeline loans.
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adrianc
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Post by adrianc on Sept 3, 2015 8:51:41 GMT
* 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). This is what's most provoking ire, I think. The original model was described by SS as "equitable" - and it's certainly closer to the way oversubscribed privatisation/flotation share issues work, a model that most of us are familiar with. 900 x £1k + 11 x £9k vs 900 x £500 + 11 x £50k I know which I think fairer. Next stop: Large loan, not over-subscribed, lots of people complaining that they can't raise their over-inflated pre-funding commitment. I wonder if the release of pre-fund allocation when the BACS deficits expire will go back to pre-funders who HAVE paid up, or whether it'll go on general sale? All bets appear to be off.
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star dust
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Post by star dust on Sept 3, 2015 10:37:09 GMT
Somerset Farm valuation now available. And loan number removed from the 'swamp'!
"Brent Farms, Somerset £650,000 £455,000 70% 4 Available"
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paulg
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Post by paulg on Sept 3, 2015 14:32:34 GMT
Has anyone else had a look at the valuation report for "Mixed use, Hackney £950,000 £665,000 70% 4 Available".
It seems to me to be giving a value of £450k - £500k. Am I reading this wrongly?
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ikorodu
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Post by ikorodu on Sept 3, 2015 14:36:10 GMT
New pipeline loans
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ikorodu
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Post by ikorodu on Sept 3, 2015 14:41:12 GMT
Has anyone else had a look at the valuation report for "Mixed use, Hackney £950,000 £665,000 70% 4 Available". It seems to me to be giving a value of £450k - £500k. Am I reading this wrongly? My reading agrees with you. Loan of 665k seems optimistic.
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ilmoro
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Post by ilmoro on Sept 3, 2015 16:14:13 GMT
Has anyone else had a look at the valuation report for "Mixed use, Hackney £950,000 £665,000 70% 4 Available". It seems to me to be giving a value of £450k - £500k. Am I reading this wrongly? My reading agrees with you. Loan of 665k seems optimistic. I wonder if the retail space is also part of the security but subject to a seperate valuation. A HMO doesnt really fit the description of 'mixed use' Valuation is also 8 months old but pretty sure that doesnt account for the discrepency Edit: Apparently my wondering was spot on, now split into two loans on that basis
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oldgrumpy
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Post by oldgrumpy on Sept 3, 2015 16:29:35 GMT
Here's the answer, from Tim of SS: "This was only 1 half of the security, we have now split this loan into 2 separate loans and adjusted the totals accordingly."
Clearly not updated on the pipeline page yet!
Edit: It is now 
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chrisf
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Post by chrisf on Sept 3, 2015 16:36:43 GMT
Now that everyone will have upped their pre-fund target, wouldn't it cause chaos if a 5 million loan appeared? So everyone would get what they asked for and not the 25% of target they expected to get, and would either have to try to sell the excess (in a flooded market) or make up the funding deficit (when they might not have the money available).
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oldgrumpy
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Post by oldgrumpy on Sept 3, 2015 16:42:22 GMT
Now that everyone will have upped their pre-fund target, wouldn't it cause chaos if a 5 million loan appeared? So everyone would get what they asked for and not the 25% of target they expected to get, and would either have to try to sell the excess (in a flooded market) or make up the funding deficit (when they might not have the money available). Bang on!! The pre-funding scheme which has been devised is far too basic and untargetted. SS needs to allow individual loan pre-funding (as does AC). I want a bit of Somerset farm, but I don't want a huge hunk of Scottish land, and no swamp ....
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adrianc
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Post by adrianc on Sept 3, 2015 16:51:04 GMT
Now that everyone will have upped their pre-fund target, wouldn't it cause chaos if a 5 million loan appeared? So everyone would get what they asked for and not the 25% of target they expected to get, and would either have to try to sell the excess (in a flooded market) or make up the funding deficit (when they might not have the money available). Hoist. Petard.
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Liz
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Post by Liz on Sept 3, 2015 16:56:43 GMT
Now that everyone will have upped their pre-fund target, wouldn't it cause chaos if a 5 million loan appeared? So everyone would get what they asked for and not the 25% of target they expected to get, and would either have to try to sell the excess (in a flooded market) or make up the funding deficit (when they might not have the money available). Bang on!! The pre-funding scheme which has been devised is far too basic and untargetted. SS needs to allow individual loan pre-funding (as does AC). I want a bit of Somerset farm, but I don't want a huge hunk of Scottish land, and no swamp .... me too. We need to be able to prefund only, the loans we want exposure to.
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sam i am
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Post by sam i am on Sept 3, 2015 17:11:19 GMT
Now that everyone will have upped their pre-fund target, wouldn't it cause chaos if a 5 million loan appeared? So everyone would get what they asked for and not the 25% of target they expected to get, and would either have to try to sell the excess (in a flooded market) or make up the funding deficit (when they might not have the money available). Bang on!! The pre-funding scheme which has been devised is far too basic and untargetted. SS needs to allow individual loan pre-funding (as does AC). I want a bit of Somerset farm, but I don't want a huge hunk of Scottish land, and no swamp .... In a recent posting SavingStream said this: "Once the 48 hr BACS deficit period has elapsed; the unpaid for loan parts will be release back into the general market / or if there was oversubs, offered to those who have cleared their BACS deficit unless they have informed us of any mitigating circumstances." The first part of that sentence says to me that if you don't like the loan you have been allocated, just don't pay for it and SavingStream will release it back into the market. I wonder how long this will last if everyone tries to give back Scottish land and the swamp.
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sqh
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Post by sqh on Sept 3, 2015 17:52:10 GMT
I want a bit of Somerset farm, but I don't want a huge hunk of Scottish land, and no swamp .... The VR for Somerset Farm includes planning permission for a 5 bed house which was granted in 2006 and expired in 2009. The foundations are in place, but building regs may have changed, especially after the Somerset floods.
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