ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 15, 2016 23:28:35 GMT
Only now that I've updated my spreadsheets after a day on the battlefield, has it dawned on me that the first 'New' T&Cs (AIUI !!!) loans are now in negative territory - PBLS 37/38/39. Obviously, these are all repaying soon (or is it shortly) .
Anyone know - What is the position re interest on these loans from here on in ?
( I re-homed my holdings in these 3 some weeks ago....... but I'm mighty curious nonetheless)
No change, will pay monthly as before unless defaulted. Borrower will cover any extension or loan will default
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sl75
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Post by sl75 on Jun 16, 2016 8:36:33 GMT
ilmoro , I don't think PBL106 is borrower 'n', but 115 probably is (maybe you just slipped a row?). ilmoro, although the full detail in the DD thread for PBL 107 to 115 was TL;DL for me (especially when reading would involve maintaining a lookup table of what the various asterisks were hiding, and plenty had been discussed during the day before I first saw it), the summary now suggests that the conclusion was that there are two separate borrowers who are not connected other than by sharing an office. Should there be two different letters to reflect this? (gjlouvw are currently completely unused, ay recently retired, fm used only once).
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Liz
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Post by Liz on Jun 16, 2016 19:17:46 GMT
Aren't we due an update? And a few loans to pay back.
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Post by geraldine1210 on Jun 16, 2016 22:41:04 GMT
Aren't we due an update? And a few loans to pay back. I don't think the updates happen in a regular enough fashion. I also think they should stop saying 'nothing changed'. If you are new to the site you are left scratching your head/
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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
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Post by ilmoro on Jun 16, 2016 23:03:34 GMT
Aren't we due an update? And a few loans to pay back. I don't think the updates happen in a regular enough fashion. I also think they should stop saying 'nothing changed'. If you are new to the site you are left scratching your head/ Nearly all loans have a relevant post in the update thread on site now to which no change can be linked to, or they have have had no update at all since launch/drawdown. A quick scan down the list of all updates shows 7 loans where newbies might not be up to speed if they are not on the forum. p2pindependentforum.com/post/47560/threadHowever, you are quite right that SS communication remains inconsistent on & off site. Lenders shouldnt have to rely on me & Dude (& all our lovely assistants) making this info easily accessible. (I would expect an update tomorrow - tend to follow loan launches)
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star dust
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Post by star dust on Jun 17, 2016 15:37:03 GMT
Updates just gone on site in the last hour. There are some significant changes highlighted in blue. Will add latest loans and pipeline updates in a minute, and proof read!
In Edit: email just received 17/06/16 16:57 and here's the rest of the update "COMPANY NEWS
We are coming to the end of a very busy week on the Saving Stream platform. We have launched c.£15m in new loans this week with the potential for a similar funding requirement for next week also.
We are really pleased to see the activity on the secondary market, a genuinely liquid/real time market with plenty of availability. £2m has been paid back today from PBL072 which should help improve liquidity.
The defaulted loan is looking good, the administrators are running it well (and in profit). We have many interested parties, with the asking price not looking unachievable. Sealed bids are expected within 4 weeks. "
EXISTING LOANBOOK
PBL006 - No change. PBL019 - Expected repayment imminently. PBL020 - Interest from a number of industry investors. Garden Centre operating with the Administrator, making profit. Sealed bids expected within 4 weeks. PBL025 - Waiting on borrowers solicitor to complete construction due diligence. PBL026 - Valuation received, going to auction. Borrower putting property into auction in order to repay our funds. This will take 6-8 weeks. PBL027 - Extended for 2 months whilst JV partner completes. PBL031 - No change. PBL033 - Interest and fees received, to extend for 3 months. Lloyds have offered to take us out. PBL035 - We have offered development finance for phase 1, will convert to DFL within 4 weeks. PBL036 - Sale completion expected today. PBL037; PBL038; PBL039; PBL040 - No change PBL042- Extending for 2 months. The scheduled ancient monument restriction has been removed, now the asset only is listed which should increase the valuation. PBL046 - New lender is currently in legals, advised 4-6 weeks repayment. PBL047;PBL 048; PBL 049; PBL051; PBL 052 - no change PBL 054 - We have offered to finance an adjoining piece of land and renew the existing loan for a further 12 months. Details to follow within 3-4 weeks. PBL055 - No change. PBL056 - New lender in legals. PBL057 - No change. PBL058 - Expected repayment within a week. PBL060 - We are looking at offering development finance on this, currently going through due diligence. PBL061- We are now looking at offering development finance on this, currently going through due diligence. PBL062; PBL063; PBL064; PBL065; PBL066; PBL067; PBL069; PBL070; PBL071 - No change PBL072 – repaid today PBL073 – No change PBL074 - Potential extension for 3 months subject to receipt of interest. Existing tenant buying site. In legals. PBL075 - No change PBL077; PBL078; PBL079; PBL080 Land has been re-zoned. Potential valuation of over £75,000,000. Waiting on new valuation, will update when received. PBL081: PBL082; PBL084; PBL085; PBL086; PBL088; PBL089; PBL090; PBL091; PBL092; PBL093 - No change PBL094 - Being marketed for sale. There are a number of interested parties. Price is £6,000,000. Potential sealed bids within 1 month. PBL095; PBL096; PBL097; PBL098; PBL 099; PBL 100; PBL 101; PBL 102; PBL 103 - No change. PBL 104 - Drawdown expected midweek. PBL 105 - Completion expected today. PBL 106 - Completed yesterday. PBL 107-115 Collecting funds, nearly there. Probable completion Monday. DFL001 - Completed. Borrower progressing satisfactorily. DFL002 - The build is progressing ahead of schedule.
PIPELINE
DFL Huddersfield - Probable completion a week on Wednesday. PBL - Newcastle-under-Lyme - Probable completion next week. DFL - Arboretum- Construction due diligence completed. Waiting for repayment on the mansion house.
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Liz
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Post by Liz on Jun 17, 2016 16:31:31 GMT
Wow on the farmland, it might just shift a bit quicker on the SM.
This is a real positive update, several issues look like being resolved. Not sure pbl26 looks great!
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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
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Post by ilmoro on Jun 17, 2016 17:19:34 GMT
Some of these loans have more twists & turns in their updates than Hampton Court Maze. The DFLs ended up with two different ones each. Amused at the London Flats ones - have images of an SS minion wandering around Gunwharf Quays in Pompey with a bucket
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Post by freedommmm on Jun 22, 2016 10:05:26 GMT
What percentage of loans have statistically paid out on due date or earlier?
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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
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Post by ilmoro on Jun 22, 2016 11:40:21 GMT
What percentage of loans have statistically paid out on due date or earlier? Roughly Excluding non-launches, non-drawdowns and boats (but including SY2) there have been 115 loans*, 12 have repaid before term** or within a week of expiry (2) so just over 10% ** based on stated term at launch, in some case this has subsequently proved to be inaccurate. * excl pbl2 & pbl4 which became 2a/4a but including pbl8/pbl36 as separate. THere's a couple of graphs below the updates list showing over/underruns by number of days/% of original term - they are a few months out of date
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Post by GSV3MIaC on Jun 24, 2016 15:47:05 GMT
I see PBL 37/8/9 have mysteriously extended another 3 months (?) but I can't see any words to that effect from SS (yet?). These are rapidly heading for the 'longest running soap opera' category, as far as I can tell, having been about to repay imminently for longer than I can remember.
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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: 11,228
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Post by ilmoro on Jun 24, 2016 19:52:56 GMT
I see PBL 37/8/9 have mysteriously extended another 3 months (?) but I can't see any words to that effect from SS (yet?). These are rapidly heading for the 'longest running soap opera' category, as far as I can tell, having been about to repay imminently for longer than I can remember. PBL69/70/71 have had a corresponding reduction in term so all loans on property now align. I guess the interest for the extension is offset by the reduction.
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dawn
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Post by dawn on Jun 24, 2016 20:42:14 GMT
PBL033 has also extended and now says 87 days to go.
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Liz
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Post by Liz on Jul 6, 2016 16:09:56 GMT
I hope we get an update soon, everything seems to have gone quiet and panic could soon set in.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 6, 2016 16:22:28 GMT
I hope we get an update soon, everything seems to have gone quiet and panic could soon set in. The last update was only 2 weeks ago, and the general updates are every month (I think... I don't get the general updates e-mail for some reason, so I rely on the updates tab). No need to panic .
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