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Post by trilby on Jul 14, 2016 14:36:08 GMT
It does make some sense - previously if you sold a loan five minutes before it repaid, then you would have to wait up to a month longer for the interest than if you'd held on to the loan for another five minutes. The other way of resolving that would have meant receiving the interest on sold loan parts as soon as you sell them, and I imagine SS didn't fancy that.
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jamesc
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Post by jamesc on Jul 14, 2016 14:56:49 GMT
It does make some sense - previously if you sold a loan five minutes before it repaid, then you would have to wait up to a month longer for the interest than if you'd held on to the loan for another five minutes. The other way of resolving that would have meant receiving the interest on sold loan parts as soon as you sell them, and I imagine SS didn't fancy that. I think you may be mistaken previously you received interest for loan parts held and sold during the month at the time of redemption, albeit sometimes you had to prompt SS for the interest on the sold parts.
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nick
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Post by nick on Jul 14, 2016 15:18:09 GMT
I don't understand why interest isn't paid to us at loan redemption. I assume the borrower has paid the interest and SS is holding the money. If this is the case, SS effectively becomes our creditor for the interest and we assume their credit risk. Very bizarre, but I guess the final interest due on the stub period is unlikely to be material so its not particularly alarming.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Nov 26, 2016 0:40:53 GMT
PBL048 Repaid yesterday (25/11/2016)  |
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sl75
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Post by sl75 on Feb 28, 2017 8:19:26 GMT
Is 047 really at -171 days as displayed, practically a default, or "up to date" as of a week ago like it says in the recent updates? Anyone know for sure?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 28, 2017 11:04:59 GMT
Is 047 really at -171 days as displayed, practically a default, or "up to date" as of a week ago like it says in the recent updates? Anyone know for sure? Apparently, all terms have been updated to reflect their actual term (linked to the interest the loan held, or the amount of time since interest run out) So close to defaulting, and won't be paying interest in 01/03 onwards
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sl75
Posts: 2,092
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Post by sl75 on Feb 28, 2017 14:38:34 GMT
Is 047 really at -171 days as displayed, practically a default, or "up to date" as of a week ago like it says in the recent updates? Anyone know for sure? Apparently, all terms have been updated to reflect their actual term (linked to the interest the loan held, or the amount of time since interest run out) So close to defaulting, and won't be paying interest in 01/03 onwards In which case, what do the words "He is now up to date and will be continue to service the loan in the interim" in the update "1 week ago" mean? (as I read it, that is a clear contradiction, but perhaps I missed some alternative interpretation?)
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mikes1531
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Post by mikes1531 on Mar 1, 2017 22:37:21 GMT
Apparently, all terms have been updated to reflect their actual term (linked to the interest the loan held, or the amount of time since interest run out) So close to defaulting, and won't be paying interest in 01/03 onwards In which case, what do the words "He is now up to date and will be continue to service the loan in the interim" in the update "1 week ago" mean? (as I read it, that is a clear contradiction, but perhaps I missed some alternative interpretation?) It means SS's right hand doesn't know what SS's left hand is doing. Or that some of the previous updates were spin aimed at making things look rosy. Now that 1/Mar has arrived, ISTM rather clear that the update is wrong because the loan is showing -173 days (or -172 days, depending on where you look on the website), and SS have classified the loan as 'IA' which AIUI confirms that the borrower is at least 90 days behind in their interest payments. And, IMHO, that's putting it nicely. Perhaps savingstream would care to explain what's actually happened/happening here?
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twoheads
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Programming
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Post by twoheads on Mar 3, 2017 19:34:58 GMT
PBL047 - L*** 2, T** C****, E****
At 18:33
166 days added to term: -175 --> -9.
Status changed from IA to SBL.
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Liz
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Post by Liz on May 12, 2017 11:57:04 GMT
Update 12/05/17:  Lights blue touch-paper and walks quietly away, spidey-senses atingle in warning of an apoplectic Aussie approaching... Are you one of those Lemoaners  This is a high-class asset.
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twoheads
Member of DD Central
Programming
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Post by twoheads on May 12, 2017 13:25:31 GMT
Update 12/05/17: Lights blue touch-paper and walks quietly away, spidey-senses atingle in warning of an apoplectic Aussie approaching... Presumably we continue to receive interest means that Lendy is receiving interest from the borrower?
If this is the case, why is the status of PBL047 SBL?
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Liz
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Post by Liz on May 12, 2017 13:48:45 GMT
Update 12/05/17: Lights blue touch-paper and walks quietly away, spidey-senses atingle in warning of an apoplectic Aussie approaching... Presumably we continue to receive interest means that Lendy is receiving interest from the borrower?
If this is the case, why is the status of PBL047 SBL?
It doesn't say that they are uptodate on the interest received. Hence Lendy still servicing maybe.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Sept 21, 2017 8:22:34 GMT
Well, it appears that £578,250 of PBL047 has just been repaid (PBL047R1).
That leaves £706,750 outstanding in PBL047, still in DEF at -210 days.
EDIT: No e-mail yet... no idea of how much outstanding interest and bonus will be included.
Last update (15/09) reads: The borrower's refinance with another P2P lender has been 100% funded and the new lender's solicitor is finalising their due diligence prior to being able to complete. We are hoping that this will be repaid in the next week.
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r1200gs
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Post by r1200gs on Sept 21, 2017 9:21:10 GMT
Well, it appears that £578,250 of PBL047 has just been repaid (PBL047R1).
That leaves £706,750 outstanding in PBL047, still in DEF at -210 days.
EDIT: No e-mail yet... no idea of how much outstanding interest and bonus will be included.
Last update (15/09) reads: The borrower's refinance with another P2P lender has been 100% funded and the new lender's solicitor is finalising their due diligence prior to being able to complete. We are hoping that this will be repaid in the next week. I've not been following this, but I'm curious as to why a partial payment? Did he not borrow enough to cover the debt with Lendy here or what?
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Jeepers
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Post by Jeepers on Sept 21, 2017 9:49:07 GMT
Email seems a bit open-ended.
Is there any hope of recovering the full lot or is it looking like that’s all that’s coming?
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Lights blue touch-paper and walks quietly away, spidey-senses atingle in warning of an apoplectic Aussie approaching... 
This is a high-class asset. 