Post by star dust on Aug 4, 2015 14:41:05 GMT
For those emailess SS investors, the latest update
"Welcome to our weekly update. Here are the platform's current statistics.
Loaned through Saving Stream £47,215,307
Current security held £74,210,000
Current live loan book £35,154,250 (47% LTV)
Repaid loans £12,061,057
Interest earned by investors £1,937,047 (3,984 investors)
Important Notices
We upgraded our server infrastructure this week which we hope will alleviate any future website performance issues.
Repaid Loans
PBL 10 – £224k was repaid to investors in full this week. We have nearly repaid £10m in total to investors.
Completed/Drawndown Loans
PBL 46 – Completed last week
PBL 48 – Completed this morning
PBL 49 – Completed this morning
New Loans
We will be listing a number of new opportunities this and next week. Our pipeline is looking very healthy.
Existing Loans
PBL 4a - No change.
PBL 4b - No change.
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 11 – All of the legal documents for the refinance were signed on Monday this week. Should be repaid this week.
PBL 12 - All of the legal documents for the refinance were signed on Monday this week. Should be repaid this week.
PBL 14 – We are expecting full repayment at any time. The sale is progressing through legals now.
PBL 15 – The sale document has been signed and exchanged with a completion date set for October the 1st. We have received interest to cover our SS costs until then.
PBL 16/17/18 - No change.
PBL 19 - No change.
PBL 20 – The borrower has received a number of refinancing offers including an equity deal. A new valuation is taking place this/next week.
PBL 21 - No change.
PBL 22 – Currently seeking planning permission for a large number of apartments with a few neighboring sites. We have asked the client to re-bridge away, his broker is now arranging this and should be clear about 3 or 4 weeks past his due date.
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 – Planning permission has been granted.
PBL 35 - No change.
PBL 36 – We have extended this loan for 1 more month whilst the borrower completes some refurbishment work and arranges the lease with his new tenant. We have been put in funds to cover this. Another lender is taking us out within that time.
PBL 37/38/39 - No change.
PBL 40 - No change.
PBL 42 – No change.
PBL 43 – No change.
PBL 44 – No change.
PBL 45 – No change.
PBL 46 – Completed last week.
PBL 47 – Still in legals; Bank of Scotland delay. Should be next week.
PBL 48 – Completed this morning.
PBL 49 – Completed this morning.
Pipeline Loans
Farm in Lancashire - value £1.25m. (In legals).
Commercial/Resi Exeter - £1.2m. This should go live this week.
Farm in East Sussex. In legals, needs to complete before 18th Aug.
Woodlands in East Sussex. In legals, needs to complete before 18th Aug."
"Welcome to our weekly update. Here are the platform's current statistics.
Loaned through Saving Stream £47,215,307
Current security held £74,210,000
Current live loan book £35,154,250 (47% LTV)
Repaid loans £12,061,057
Interest earned by investors £1,937,047 (3,984 investors)
Important Notices
We upgraded our server infrastructure this week which we hope will alleviate any future website performance issues.
Repaid Loans
PBL 10 – £224k was repaid to investors in full this week. We have nearly repaid £10m in total to investors.
Completed/Drawndown Loans
PBL 46 – Completed last week
PBL 48 – Completed this morning
PBL 49 – Completed this morning
New Loans
We will be listing a number of new opportunities this and next week. Our pipeline is looking very healthy.
Existing Loans
PBL 4a - No change.
PBL 4b - No change.
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 11 – All of the legal documents for the refinance were signed on Monday this week. Should be repaid this week.
PBL 12 - All of the legal documents for the refinance were signed on Monday this week. Should be repaid this week.
PBL 14 – We are expecting full repayment at any time. The sale is progressing through legals now.
PBL 15 – The sale document has been signed and exchanged with a completion date set for October the 1st. We have received interest to cover our SS costs until then.
PBL 16/17/18 - No change.
PBL 19 - No change.
PBL 20 – The borrower has received a number of refinancing offers including an equity deal. A new valuation is taking place this/next week.
PBL 21 - No change.
PBL 22 – Currently seeking planning permission for a large number of apartments with a few neighboring sites. We have asked the client to re-bridge away, his broker is now arranging this and should be clear about 3 or 4 weeks past his due date.
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 – Planning permission has been granted.
PBL 35 - No change.
PBL 36 – We have extended this loan for 1 more month whilst the borrower completes some refurbishment work and arranges the lease with his new tenant. We have been put in funds to cover this. Another lender is taking us out within that time.
PBL 37/38/39 - No change.
PBL 40 - No change.
PBL 42 – No change.
PBL 43 – No change.
PBL 44 – No change.
PBL 45 – No change.
PBL 46 – Completed last week.
PBL 47 – Still in legals; Bank of Scotland delay. Should be next week.
PBL 48 – Completed this morning.
PBL 49 – Completed this morning.
Pipeline Loans
Farm in Lancashire - value £1.25m. (In legals).
Commercial/Resi Exeter - £1.2m. This should go live this week.
Farm in East Sussex. In legals, needs to complete before 18th Aug.
Woodlands in East Sussex. In legals, needs to complete before 18th Aug."
