shimself
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Post by shimself on May 28, 2015 21:30:10 GMT
except except I think that SS haven't yet managed to tie loans direct to investors, so if SS went wrong it's possible/likely? that the receiver would just chuck all the loans into a single pot, so there's not much point in picking particular SS loans.
Note that AC have a bridging loan unpaid where the LPA receiver believes the value is way below the value originally stated, so that the lenders are facing a loss of a few 100K. H*****y rhymes with spots. These things do happen.
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Liz
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Post by Liz on May 29, 2015 9:30:34 GMT
On 60% LTV, a second charge is fine. And falls to 46%, once infrastructure work is completed.
I have seen other bridging loans on other sites where there is a second charge and LTV's of 80,90 and even 100%.
No thanks.
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Post by mrclondon on Jun 8, 2015 12:48:42 GMT
PBL 035 has now drawn down, with May's interest credited to our accounts (transaction back-dated to 31st May)
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ilmoro
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'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 8, 2015 13:21:02 GMT
PBL 035 has now drawn down, with May's interest credited to our accounts (transaction back-dated to 31st May) Is it me or have they released the other half of PBL33 as well? Currently 1.9mil available which seems a lot to just be SM activity
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SteveT
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Post by SteveT on Jun 8, 2015 13:26:54 GMT
PBL 035 has now drawn down, with May's interest credited to our accounts (transaction back-dated to 31st May) Is it me or have they released the other half of PBL33 as well? Currently 1.9mil available which seems a lot to just be SM activity Looks like it, although the Provision Fund is still referenced against PBL025 so will presumably need updating
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Post by fiatlender on Jun 8, 2015 15:21:54 GMT
Unless I've made a mistake, I seem to have received an interest payment I should not have on this loan.
3 investements made on 26/05/15 have the correct interest paid. I made another £2.5k investement today 8/6/15 and have been paid £5.75 interest for this.
Anyone else have any miscellaneous interest payments?
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sam i am
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Post by sam i am on Jun 8, 2015 16:15:46 GMT
Yes, same happened to me. It appears that interest payments have been made for the number of days difference from 1/6/15. So an investment I made on 2/6/15 had 1 day's interest, while an investment on 4/6/15 had 3 days and on 6/6/15 had 5 days. I presume SS will correct this soon enough. But if they want to throw money at me, I won't refuse!
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gc
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Post by gc on Jun 8, 2015 16:18:41 GMT
Unless I've made a mistake, I seem to have received an interest payment I should not have on this loan. 3 investements made on 26/05/15 have the correct interest paid. I made another £2.5k investement today 8/6/15 and have been paid £5.75 interest for this. Anyone else have any miscellaneous interest payments? I have had a small amount of interest payment also added to my account today. Strangely it doesn't say within my 'Dashboard' where it came from, just appeared. Just wondering if something is amiss on their side as usually I can see how they work this out, though not this time... Strange.
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Post by ladywhitenap on May 17, 2016 14:11:22 GMT
Latest update says paying back last week?? SO will it redeem this week?? makes a difference to me if I roll over a loan on MT or take the money for pipeline opportunities here.
To me it would be better for SS not to post erroneous updates and just have surprises instead!
LW
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star dust
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Post by star dust on May 17, 2016 14:48:09 GMT
Latest update says paying back last week?? SO will it redeem this week?? makes a difference to me if I roll over a loan on MT or take the money for pipeline opportunities here. To me it would be better for SS not to post erroneous updates and just have surprises instead! LW You obviously don't lend on AC then  . Property transactions and their legalities are notorious for those last minute hiccups and delays that somehow nobody saw coming. I am sure Saving Stream (and indeed other platforms) report the situation in good faith. If you're going to lend secured against property assets better get used to it  . Personally I appreciate the update cause at least I know something is going on even if it doesn't pan out exactly as people expected. MT has a pretty responsive secondary market, why not just sell there if/ when there is a get ready notice from SS?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jun 5, 2016 17:44:49 GMT
There is a substantial amount on the SM that nobody wants. Considering that parts of PBL020 were being snapped up for several days after it was put into default I am surprised that this one is sticking. Maybe it's the second charge.
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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 5, 2016 18:59:41 GMT
There is a substantial amount on the SM that nobody wants. Considering that parts of PBL020 were being snapped up for several days after it was put into default I am surprised that this one is sticking. Maybe it's the second charge. Could be the 'imminent' repayment meaning people are avoiding because they will have to redeploy cash and there isnt much in the pipeline. Of course, this and PBL58 have been repaying next week for over a month now, but one day it will be true ... maybe 
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jcb208
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Post by jcb208 on Jun 5, 2016 19:39:35 GMT
There is a substantial amount on the SM that nobody wants. Considering that parts of PBL020 were being snapped up for several days after it was put into default I am surprised that this one is sticking. Maybe it's the second charge. Could be the 'imminent' repayment meaning people are avoiding because they will have to redeploy cash and there isnt much in the pipeline. Of course, this and PBL58 have been repaying next week for over a month now, but one day it will be true ... maybe Well some one wants it just bought 11K
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NSFW
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Post by NSFW on Jun 5, 2016 20:10:52 GMT
There is a substantial amount on the SM that nobody wants. Considering that parts of PBL020 were being snapped up for several days after it was put into default I am surprised that this one is sticking. Maybe it's the second charge. Could be the 'imminent' repayment meaning people are avoiding because they will have to redeploy cash and there isnt much in the pipeline. Of course, this and PBL58 have been repaying next week for over a month now, but one day it will be true ... maybe That's exactly why I offloaded my share of PBL035. Still have some of PBL058 though. The repayment it mentions is early and there's a DFL coming next.
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Post by GSV3MIaC on Jun 5, 2016 21:12:03 GMT
All the low/negative day loans seem to be hanging around more than they were a couple of weeks back. I guess there are two reasons people duck them .. them might indeed repay soon (leaving you with cash to redeploy) or they might fail to repay, and join PBL020 'on the auction block'. The reasons why someone would choose to invest have been discussed before - no good options (either 'nothing at all' or 'nothing which I'm not already very exposed to'). Selling them when there are only a few days or weeks left is a viable tactic, but only if there are willing buyers .. you can't rely on it in the long term, especially if nervousness increases.
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. Property transactions and their legalities are notorious for those last minute hiccups and delays that somehow nobody saw coming. I am sure Saving Stream (and indeed other platforms) report the situation in good faith. If you're going to lend secured against property assets better get used to it 
. Personally I appreciate the update cause at least I know something is going on even if it doesn't pan out exactly as people expected. 
