Post by ilmoro on Jun 29, 2015 17:46:43 GMT
Welcome to our weekly update. Here are our current platform's statistics.
Loaned through Saving Stream £38,920,307
Current security held £62,530,000
Current live loan book £29,463,250 (47% LTV)
Repaid loans £9,457,057
Interest earned by Saving Stream investors £1,361,572 (3,527 investors)
New Loan (going live shortly)
PBL 41 – A substantial office building in Banbury with planning permission for 40 residential apartments, currently valued at £3.4m. We are making a loan of £2.38m available for our borrower.
Existing Loans
PBL 4a - We have agreed terms for this borrower and have received interest for 3 months. 4a and 4b will be merged into one facility in September.
PBL 4b - See above.
PBL 6 - During the course of this loan the client has been classified as a “PEP/Politically Exposed Person” so his bank has declined his borrowing facility. Therefore, he is selling his £10m house in London, some shares in an offshore bank and a house in Bali worth £2m. All are under offer and in legals. We have granted the borrower an extension of 3 months and have received interest to cover that period. We have an undertaking from his lawyer to pay us from the proceeds of the London house. We are very comfortable with this borrower, he has substantial assets in the background which is now trying to liquidate.
Superyacht - Same borrower as PBL 6. See above.
PBL 10 - The borrower has arranged for a new loan to take us out completely with Amicus.
PBL 11 - We are expecting full repayment by the end of July.
PBL 12 - We are expecting full repayment by the end of July.
PBL 14 – No change.
PBL 15 - The borrower has agreed a sale for over £1.9m; exchange should take place towards the end of the week with a completion date set at 1st October. We have agreed to extend the loan until the sale completes. All investors who opted for upfront inetrest on this loan are now free to trade their loan parts in the secondary market.
PBL 16/17/18 - No change.
PBL 19 - No change.
PBL 20 - No change.
PBL 21 - No change.
PBL 22 - No change.
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.
PBL 33 - Completed.
PBL 35 - No change.
PBL 36 - No change.
PBL 37/38/39 - No change.
PBL 40 - All funds are held in the client account, we are hoping for a completion any day.
PBL 41 - See above update.
Pipeline Loans
Commercial sheds in Gosport. Value £300k, loan £200k. In legals.
Farm in Lancashire - value £1.25m. (In legals).
Commercial/Resi Exeter - £1.2m. (In legals).
Land with PP Exeter - £800k. (In legals) should complete in 10 days or so.
Nursery and Vicarage, Essex - val £950k, £650k loan.
Land in Essex – val £2m. Loan £1.2m.
Thank you for investing in Saving Stream.
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