mikes1531
Member of DD Central
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Post by mikes1531 on Jul 29, 2015 18:09:23 GMT
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. The picture might not change in 6-12 months, but that doesn't rule out the possibility that the borrower asks for, and SS grant, extensions that carry on until the planning issue is decided. If planning is denied, and the value of the land drops below the amount of the outstanding loans, then the borrower could walk away from the loans and leave SS -- and its investors -- holding the bag. Even that wouldn't be an issue as long as the PG is watertight and the borrower's substantial assets don't evaporate in the interim period.. Furthermore, if SS continue as they have, anyone worried about this disaster scenario could sell their parts on the SM after a year and before the planning issue is decided and avoid that risk.
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jamesc
Member of DD Central
Posts: 447 
Likes: 253
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Post by jamesc on Jul 12, 2016 7:08:12 GMT
A good chance to see how good the updates are. Per the last update it gave a very specific date for the repayment of PBL49 namely today !
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fp
Posts: 1,008
Likes: 853
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Post by fp on Jul 12, 2016 7:49:15 GMT
A good chance to see how good the updates are. Per the last update it gave a very specific date for the repayment of PBL49 namely today ! Eagerly awaited..... we shall see!
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mv
Member of DD Central
Posts: 156
Likes: 45
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Post by mv on Jul 12, 2016 9:11:30 GMT
I sold my stake yesterday! I don't trust SS pay back predictions for some reason!
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ped
Member of DD Central
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Post by ped on Jul 13, 2016 11:54:38 GMT
Still waiting.....
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jamesc
Member of DD Central
Posts: 447
Likes: 253
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Post by jamesc on Jul 13, 2016 14:38:35 GMT
For all those that care 49 just repaid only one day late. SS I am very impressed !
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treeman
Member of DD Central
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Post by treeman on Jul 13, 2016 18:52:10 GMT
For all those that care 49 just repaid only one day late. SS I am very impressed ! And 47 has had an extension - now showing 58 days remaining. 48 still showing 20 days.
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ped
Member of DD Central
Posts: 255
Likes: 84
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Post by ped on Jul 13, 2016 19:17:21 GMT
Not had any interest on this repayment? Has anyone else?
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jul 13, 2016 21:26:48 GMT
Not had any interest on this repayment? Has anyone else? End of the month at a guess.... hopefully! If it was at the end of the month, then they are drastically changing the rules... I would imagine it is an oversight; I'm not invested but I would encourage you to send SS an e-mail!
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Post by pepperpot on Jul 13, 2016 21:41:52 GMT
If it was at the end of the month, then they are drastically changing the rules... ...and that would surprise you??  I don't think I have a problem with a 'interest only ever paid on the 1st of the month' policy, at least you'd know where to look for it in the statement.
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ped
Member of DD Central
Posts: 255
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Post by ped on Jul 13, 2016 22:31:13 GMT
End of the month at a guess.... hopefully! If it was at the end of the month, then they are drastically changing the rules... I would imagine it is an oversight; I'm not invested but I would encourage you to send SS an e-mail! Email sent earlier this evening, so will see what they say tomorrow, guess it`s been a very busy day in SS house!
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fp
Posts: 1,008
Likes: 853
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Post by fp on Jul 14, 2016 11:07:37 GMT
LOAN REPAYMENT
PBL049 - <mod redacted> Essex
Dear xxxxx xxxxx,
We are pleased to announce the full repayment of PBL049.
All investors should now have their capital credited to their Saving Stream accounts. July's interest will be included in the end of the month interest payments.
If you have any queries, please feel free to contact us.
Kind regards,
The Saving Stream Team
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n
Member of DD Central
Yet another Nick
Posts: 882
Likes: 461
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Post by n on Jul 14, 2016 11:31:45 GMT
LOAN REPAYMENT
PBL049 - <mod redacted> Essex
Dear xxxxx xxxxx,
We are pleased to announce the full repayment of PBL049.
All investors should now have their capital credited to their Saving Stream accounts. July's interest will be included in the end of the month interest payments.
If you have any queries, please feel free to contact us.
Kind regards,
The Saving Stream Team What? They expect us to actually READ more than just the subject line? 
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ped
Member of DD Central
Posts: 255
Likes: 84
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Post by ped on Jul 14, 2016 13:35:17 GMT
Per the email notice of loan repayment, interest is no longer credited on repayment of the loan but at the end of the same month along with all other interest due.
Kind regards,
Customer Services Team
Saving Stream
didn't get the repayment email but now we know.....!
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sl75
Posts: 2,092
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Post by sl75 on Jul 14, 2016 14:01:00 GMT
Per the email notice of loan repayment, interest is no longer credited on repayment of the loan but at the end of the same month along with all other interest due. Kind regards, Customer Services Team Saving Stream didn't get the repayment email but now we know.....! When did they tell us about this detrimental change? "proper" banks and credit card providers are required to give something like a couple of months notice with an option to cancel for far smaller changes to their T&Cs!
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