|
|
Post by Deleted on Jul 28, 2015 15:40:23 GMT
Now live. About 2M. Just over £350K left in 47/48 (as of 8am on 29th)
Caused website to crash because of site not being prepared to handle more than 400 simultaneous connections.
|
|
dp
Member of DD Central
Posts: 189 
Likes: 84
|
Post by dp on Jul 28, 2015 15:42:48 GMT
Snap, max number of connections.
|
|
|
|
Post by savingstream on Jul 28, 2015 15:45:27 GMT
Sorry about the connection issue. We have over 400 people on the site right now which is unprecedented. The next iteration of the site will be able to support many more.
There is still plenty of availability and we are holding some back to release later to cover this scenario.
Thanks for investing with Saving Stream.
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Jul 28, 2015 15:52:50 GMT
If SS is releasing more later, does the loan amount just show the release now or the total to be released? Will the LTV deteriorate when the further release is made? It's just that with the current meltdown it is impossible to download the docs to get the information.
|
|
|
|
Post by marek63 on Jul 28, 2015 16:08:44 GMT
Well savingstream, you need more/bigger/better IT very rapidly if you are going to grow at this rate |
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Jul 28, 2015 16:18:21 GMT
Well savingstream, you need more/bigger/better IT very rapidly if you are going to grow at this rate or perhaps releasing only one loan at a time?
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Jul 28, 2015 16:29:22 GMT
What is the general opinion on the quality of the loans? Building plots in the green belt without planning permission doesn't sound like the best security in the world to me but would like to hear other opinions.
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Jul 28, 2015 16:48:38 GMT
PBL 49 valuation document...
6. Town Planning
The Site is not Green Belt
I take the point about planning permission and I guess we just have to take it on trust that this will be granted based on the large number of similar developments nearby.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Jul 28, 2015 17:08:54 GMT
Seems to be a discrepancy between the CR & VRs for 47 & 48. CR says included in Local Plan 1998, VR says not. Quite contradictory on planning, short term unlikely to get it, long term probably would. Fortunately, loan redemption appears not to be from sale of this land but from another deal in 6-12m time.
PBL49 - only issue seems to be protected oaks
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Jul 28, 2015 17:17:34 GMT
40% LTV must make up for lack of certainty on planning ie if no planning, land should be worth at least 40% of estimate with planning
|
|
mv
Member of DD Central
Posts: 156
Likes: 45
|
Post by mv on Jul 28, 2015 21:56:54 GMT
40% LTV must make up for lack of certainty on planning ie if no planning, land should be worth at least 40% of estimate with planning Unless planning was subsequently rejected. Then it's just a crappy bit of land with no potential
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Jul 28, 2015 23:13:01 GMT
I think we are more reliant on the fact that this guy has a wedge of cash coming his way and a fair chunk of assets in the background.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Jul 29, 2015 5:47:58 GMT
40% LTV must make up for lack of certainty on planning ie if no planning, land should be worth at least 40% of estimate with planning Unless planning was subsequently rejected. Then it's just a crappy bit of land with no potential Indeed. And one of our esteemed members recounted another story recently about a default arising from a planning rejection which essentially ruled that the land could never be used for any kind of commercial purpose, cutting its value to a fraction of the previous estimate. We may come to look back on the scrum yesterday with regret. Hopefully not.
|
|
max
Posts: 75
Likes: 47
|
Post by max on Jul 29, 2015 6:26:33 GMT
Unless planning was subsequently rejected. Then it's just a crappy bit of land with no potential Indeed. And one of our esteemed members recounted another story recently about a default arising from a planning rejection which essentially ruled that the land could never be used for any kind of commercial purpose, cutting its value to a fraction of the previous estimate. We may come to look back on the scrum yesterday with regret. Hopefully not. I disagree. Exit from this loan is not out of obtaining planning permission. It will take two years or more for that anyway as advised in the valuation. The value of the loan security is in its potential of getting planning that is currently estimated at a 60% chance. This estimate is linked to the lack of houses supply for the next 5 years in the council - they only have supply for 0.5 year. IMO this picture cannot ever change in the next 6-12 months. Moreover: www.bbc.co.uk/news/business-32998019
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Jul 29, 2015 17:15:35 GMT
Wasn't quite sure where to post this but for the SS email-less, the following was received from SS this afternoon
"Firstly, we would like to apologise for the website difficulties that many of you experienced yesterday. Upon go live of the new loans, we saw unprecedented demand on our server capabilities and as such we will be upgrading this hardware over the weekend. We do not expect disruption to the website during this upgrade. This will mean that we have an improved server infrastructure in place, for when the new website goes live later in August.
Secondly, we like to say a big thank you to all our investors who did manage to invest yesterday. We raised over £2m in under 5 hours on the new loans, which makes yesterday our biggest day ever.
Lastly, we would like to let investors know that there is still some availability on the platform in case you were unable to invest yesterday."
Not sure the latter is entirely true ATM mainly some PBL047 left.
|
|
