Post by ilmoro on Jun 1, 2015 12:17:11 GMT
Not really much in this that isnt just a repost of previous weeks, in fact a lot is less informative than before. Presence of Hemel Hempstead in pending loans says as much. Well wont take me long to update the rolling list 
Note apart from the bit at the top this is just a repost of update 11/5, hence the reason that those loans that do have updates seem to have gone backwards from 18/5 update, only Superyatch has actually been amended
We can confirm that May 2015's interest payments have now been credited to all investor's Saving Stream accounts.
Note apart from the bit at the top this is just a repost of update 11/5, hence the reason that those loans that do have updates seem to have gone backwards from 18/5 update, only Superyatch has actually been amended
We can confirm that May 2015's interest payments have now been credited to all investor's Saving Stream accounts.
Completed/Drawndown Loans
We completed on PBL 36 last week. This was a reduction of a previous loan having had a significant payment from a property sale return to us. The property was relisted as a new loan.
We completed on PBL 33 last week. We know have full security in place. The section 106 agreements will be signed this week. Following this important phase of the planning process we will be making a further £2.5m available in this loan as described in the original particulars.
Newly Listed Loans Available for Investment
PBL 35 – This is a large loan secured against a holiday park in Yorkshire. We have received enough funds to complete on this, hopefully on Tuesday or Weds this week.
Loans Cancelled
PBL 34 – After consideration, we were not 100% comfortable with the planning situation of this loan opportunity. The planning had expired, and we could not guarantee that the works had been implemented a: to satisfy the planning conditions fully and b: within the allotted timescale. We originally believed these risks were insurable, but in the end were not. All funds were returned to investors with interest paid as recompense.
Existing Loans
PBL 4a – We met with the borrower last week; we are considering offering him a development loan to build 10 large houses. He will need a credit facility of up to £1m which will gradually be raised against the increasing valuation of the security as he builds the new properties.
PBL 4b – See above.
PBL 5 – No change.
PBL 6 – No change.
PBL 7 – We received the court order for vacant possession last week. The owner has 42 days (15th June) to vacate the property. We are also progressing well with the sale of the property for £250k. Funds should be with us in full by the 15th June.
PBL 8 – We received £150k cash for two of the apartments. Loan has been repaid in full and re-launching as PBL036 as a reduced new loan.
PBL 10 – No change.
PBL 12 – No change.
PBL 13 – No change.
PBL 14 – A sale is still expected at the end of the month for 50% of the land and planning permission for 9 houses is also expected within the same timescale.
PBL 15 – No change.
PBL 16/17/18 – No change.
PBL 19 – Possible movement. We have received interest to cover our costs to date.
PBL 20 – No change.
PBL 21 – No change.
PBL 22 – No change.
PBL 23 – Full repayment received.
PBL 25 – No change.
PBL 26 – No change.
PBL 27 – No change.
PBL 28 - No change.
PBL 29 - No change.
PBL 30 - No change.
PBL 31 – No change.
PBL 32 – No change.
Superyacht loan - We are exxpecting this to be repaid in full in the near future
Pipeline Loans
Large piece of land in Hemel Hempstead with planning for 200+residential units and GDV of +£60m. Needs cash to acquire further commercial assets nearby. We will provide a facility for the client. Loan £2.5m over land worth £10m. Received signed commercials today. Will go live later this week on SS.
Pub in Southsea, Portsmouth. Value £350k, loan £245k. Completion end of June.
Farm in Lancashire – value £1.25m. (In legals).
Farm in Norfolk – value £1.5m.
Commercial/Resi Exeter - £1.2m.
Land with PP Exeter - £800k.
Land with PP Torquay - £300k.
Thank you for investing in Saving Stream.
