Post by star dust on Jul 6, 2015 15:59:48 GMT
And once again for those who don't get it.....
"Welcome to our weekly update. Here are our current platform's statistics.
Loaned through Saving Stream £41,510,307
Current security held £66,230,000
Current live loan book £32,053,250 (48% LTV)
Repaid loans £9,457,057
Interest earned by Saving Stream investors £1,613,053 (3,603 investors)
Completed/Drawndown Loans
PBL 42 – This loan completed last Friday. We now hold security. In addition we took a charge over an unencumbered flat in Gosport worth £110k to improve the overall security.
New Loan
PBL 41 – A substantial office building in Banbury with planning permission for 40 residential apartments worth £3.4m. We are making a loan of £2.38m available for our borrower. The client has agreed a sale of the land already with current planning and the sale should complete within 3 months.
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 – We have received interest to cover the cost of this loan until September. The sale of the borrowers assets is progressing through legals and we expect to be repaid before September.
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 any day.
PBL 12 - We are expecting full repayment any day.
PBL 14 – Planning permission is expected within a week or so. A sale for the entire site has been agreed subject to planning.
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 in this loan are now released and free to trade their loan parts in the secondary market. Interest to cover the cost of this loan on the SS platform has been received
PBL 16/17/18 - No change.
PBL 19 - No change.
PBL 20 - No change.
PBL 21 - No change.
PBL 22 - No change.
PBL 25 – A service access road has been created and building work is now ongoing.
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 - No change.
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 today or tmrw.
PBL 41 - See above update.
PBL 42 – Completed.
Pipeline Loans
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."
"Welcome to our weekly update. Here are our current platform's statistics.
Loaned through Saving Stream £41,510,307
Current security held £66,230,000
Current live loan book £32,053,250 (48% LTV)
Repaid loans £9,457,057
Interest earned by Saving Stream investors £1,613,053 (3,603 investors)
Completed/Drawndown Loans
PBL 42 – This loan completed last Friday. We now hold security. In addition we took a charge over an unencumbered flat in Gosport worth £110k to improve the overall security.
New Loan
PBL 41 – A substantial office building in Banbury with planning permission for 40 residential apartments worth £3.4m. We are making a loan of £2.38m available for our borrower. The client has agreed a sale of the land already with current planning and the sale should complete within 3 months.
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 – We have received interest to cover the cost of this loan until September. The sale of the borrowers assets is progressing through legals and we expect to be repaid before September.
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 any day.
PBL 12 - We are expecting full repayment any day.
PBL 14 – Planning permission is expected within a week or so. A sale for the entire site has been agreed subject to planning.
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 in this loan are now released and free to trade their loan parts in the secondary market. Interest to cover the cost of this loan on the SS platform has been received
PBL 16/17/18 - No change.
PBL 19 - No change.
PBL 20 - No change.
PBL 21 - No change.
PBL 22 - No change.
PBL 25 – A service access road has been created and building work is now ongoing.
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 - No change.
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 today or tmrw.
PBL 41 - See above update.
PBL 42 – Completed.
Pipeline Loans
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."
