david42
Member of DD Central
Posts: 419 
Likes: 346
|
Post by david42 on Feb 16, 2015 18:39:50 GMT
Dear Investor,
NEW LOAN ALERTPBL 004b - Just gone live on the platform for £1,455,000 against a valuation of £3,000,000. Due to the size of this loan we did not feel that a 24h notice was required. but savingstream isn't loan pbl 4a also secured on the same piece of land. If that is true then the stated ltv of 48.5% on the web site should be corrected. I agree with you that an LTV of 48.5% does not reflect the true risk. The bridging loan particulars document for PBL4b says the LTV is 70% because both loans are secured against the same £3M land.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Feb 16, 2015 22:55:03 GMT
I wonder if there are many like me - just not bothering with this one? Having come to the conclusion that with the current arrangements -- whereby we're lending to SS/Lendy rather than the borrower -- it doesn't make any difference which loan I hold parts of, it follows that there's no incentive to redistribute my investments every time a new loan appears now that there's no cashback being offered on new loans. So I just sit back and watch. Actually, I like that way of operating because so little of my time is required! 
|
|
|
|
Post by duncandive on Feb 17, 2015 12:48:24 GMT
Wowww £500,000.00 of PBL OO4b just went in One purchase.... so much for lasting until Tea Time today.
Would that be an 'Underwritter' in action ?
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Feb 17, 2015 12:50:20 GMT
Wowww £500,000.00 of PBL OO4b just went in One purchase.... so much for lasting until Tea Time today. Would that be an 'Underwritter' in action ? I just noticed that I reckon I'd have been odds on to win my little bet there if it wasn't for that, because even with all the intest and cashback expected from PBL020 today it wouldn't have made too much of a dent. I reckon one of you must've just remortgaged, just to prove me wrong  Edit: meant to add, I'd be surprised if it were underwriter money - why would savingstream arrange to chomp up so much of the availability in underwriting that there wasn't even enough left to soak up expected PBL020 money today? That pretty much guarantees withdrawal of funds. Unless one of the other loans is about to go live of course.
|
|
|
|
Post by duncandive on Feb 17, 2015 13:11:05 GMT
Wowww £500,000.00 of PBL OO4b just went in One purchase.... so much for lasting until Tea Time today. Would that be an 'Underwritter' in action ? I just noticed that I reckon I'd have been odds on to win my little bet there if it wasn't for that, because even with all the intest and cashback expected from PBL020 today it wouldn't have made too much of a dent. I reckon one of you must've just remortgaged, just to prove me wrong Edit: meant to add, I'd be surprised if it were underwriter money - why would savingstream arrange to chomp up so much of the availability in underwriting that there wasn't even enough left to soak up expected PBL020 money today? That pretty much guarantees withdrawal of funds. Unless one of the other loans is about to go live of course. Rule Number One; Never try to prove a Lady wrong... Rule Number Two; Listen when a Lady has something to say.. It usually makes sense
|
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,806
Likes: 3,237
|
Post by jonno on Feb 17, 2015 13:27:10 GMT
I just noticed that I reckon I'd have been odds on to win my little bet there if it wasn't for that, because even with all the intest and cashback expected from PBL020 today it wouldn't have made too much of a dent. I reckon one of you must've just remortgaged, just to prove me wrong Edit: meant to add, I'd be surprised if it were underwriter money - why would savingstream arrange to chomp up so much of the availability in underwriting that there wasn't even enough left to soak up expected PBL020 money today? That pretty much guarantees withdrawal of funds. Unless one of the other loans is about to go live of course. Rule Number One; Never try to prove a Lady wrong... Rule Number Two; Listen when a Lady has something to say.. It usually makes sense Who said RR was a lady!! 
|
|
|
|
Post by duncandive on Feb 17, 2015 13:42:02 GMT
Who said RR was a lady!! Well jonno I'd rather risk a rebuke than a 'Slap'  |
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Feb 17, 2015 13:50:51 GMT
Who said RR was a lady!! Well jonno I'd rather risk a rebuke than a 'Slap' Have to admit, it's something I've rarely been accused of 
|
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,806
Likes: 3,237
|
Post by jonno on Feb 17, 2015 14:07:25 GMT
Who said RR was a lady!! Well jonno I'd rather risk a rebuke than a 'Slap' : You're surely not suggesting RR is a "slapper"!! are you? 
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Feb 17, 2015 14:42:52 GMT
Who said RR was a lady!! Well jonno I'd rather risk a rebuke than a 'Slap' : You're surely not suggesting RR is a "slapper"!! are you? Boom! Boom!  Very good!
|
|
|
|
Post by duncandive on Feb 17, 2015 15:05:12 GMT
Perish the thought jonno. I think RR just drew the line rather nicely on that one  PBL 004b now all gone (sorry RR). Until 'Mr £500k' chooses to put some back onto the secondary market maybe. I never realised that the auto credit would go that high... Not that I could ever dream of putting it to the test..  |
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Feb 17, 2015 15:10:25 GMT
Perish the thought jonno. I think RR just drew the line rather nicely on that one PBL 004b now all gone (sorry RR). Until 'Mr £500k' chooses to put some back onto the secondary market maybe. I never realised that the auto credit would go that high... Not that I could ever dream of putting it to the test.. Somebody disreputable did it not that long ago, and SS had to unwind it when it became clear it was a charlatan. I'm assuming that isn't the case here, as they'd no doubt have unwound it by now; in fact I think they put something in place to prevent it, although not sure what.
|
|
elgerod
Member of DD Central
Posts: 99
Likes: 29
|
Post by elgerod on Feb 20, 2015 0:08:42 GMT
Perish the thought jonno. I think RR just drew the line rather nicely on that one PBL 004b now all gone (sorry RR). Until 'Mr £500k' chooses to put some back onto the secondary market maybe. I never realised that the auto credit would go that high... Not that I could ever dream of putting it to the test.. Maybe he did put some back, just for a short while, because I see that £549k also went out on 17/2/2015, or was that the same as the £500k?
|
|
|
|
Post by savingstream on Feb 20, 2015 8:48:28 GMT
We combined this investors £500k with an additional £49k that he had already made upon his request.
|
|
elgerod
Member of DD Central
Posts: 99
Likes: 29
|
Post by elgerod on Feb 24, 2015 2:27:03 GMT
SS - Thank you for the clarification / explanation.
|
|
