Post by registerme on Sept 4, 2015 13:27:19 GMT
(for those with email troubles).
Dear RegisterMe,
Welcome to our new look General Update.
Pre-Funding Option
We wanted to prevent a “scrum” when new loans went live and also to ensure that all who wanted to participate could do so. We allowed people to set an amount that they would be willing to invest in any loan that came through, and depending on availability, they would receive an allocation up to that maximum amount.
We initially stated that pre-funded loans would be filled from the bottom up with smaller investors getting thier full allocation and larger investors missing out on their full allocation. However, after consideration, we decided to amend that policy to an equal proportional split. In our excitement to try this out for the first time, our mistake was not communicating this change of policy in advance, which we can only apologise for profusely.
In response to feedback, we appreciate that our communication needs to improve on matters such as this. Important amendments to the Pre-funding option have also been created:
· You can now select to Pre-fund 'individual loans' or 'all loans' with a default rate as before.
· The Pipeline section will be kept up to date as a matter of course
· The Pipeline section now contains valuations (red) and loan particulars (blue).
Example 1: £1m loan, £2m in the loan's pre-funding pot, everyone will get 50% of their requested pre-funded amount.
Example 2: £3m loan, £2m in the loan's pre-funding pot, everyone will get 100% of their requested pre-funded amount and £1m is released for general availability.
Repayment of Outstanding Loans
PBL11 -deleted, Wokingham Expected repayment today.
PBL12 -deleted, Crowthorne Expected repayment today.
PBL14 – Leeds land Expected repayment today.
Pipeline Loans
Apartments + land with planning, Torquay - Probably going Live Next Friday or Following Monday.
Deleted, Somerset - Probably going Live Monday.
Commercial, Hackney - Probably going Live Monday.
Residential, Hackney - Probably going Live Monday.
Land in Hull - Probably going Live Today, completing today or Monday.
Land with planning, Scotland - Probably going Live Weds.
Office building, Somerset - Probably going live in 2 weeks.
Existing Loans
PBL4a -deleted- , Exeter Development finance has been agreed. End of September.
PBL4b -deleted-, Exeter See 4a.
PBL6 -deleted-, Chichester Refinancing his big london house. End of September full repayment
PBL11 -deleted-, Wokingham Expected repayment today.
PBL12 -deleted-, Crowthorne Expected repayment today.
PBL14 -deleted- Expected repayment today.
PBL15 -deleted-, Bedford Sale agreed for October 1st. Interest received.
PBL16 -deleted-, Cardiff No change.
PBL17 -deleted-, Swansea No change.
PBL18 -deleted-, Swansea No change.
PBL19 -deleted-, Dover No change.
PBL20 -deleted-, Midhurst Valuation has come in at £8-9m GDV. A large fund is prepared to lend on the build and take us out. End of September/October.
PBL21 -deleted-, Southsea Sale agreed for end of Sept.
PBL22 -deleted-, Bedford 2 months worth of interest and fees have been received. Refinancing any time.
PBL25 - Development land, Huddersfield No change.
PBL26 - Development site, Stockport Refinancing underway.
PBL27 -deleted-, Fleetwood No change.
PBL28 -deleted-, Roebeck, Ryde Renewing the loan for another 6 months. Valuation increased to £600k.
PBL29 -deleted-, East Kilbride No change.
PBL31 -deleted-, No change.
PBL32 -deleted-, Huntingdon Expecting £440k back iminently. We will retain 1st charge.
PBL33 -deleted-, Hemel Hempstead, No change.
PBL35 -deleted-, Pickering No change.
PBL36 -deleted-, Southsea Being refinanced by Lloyds.
PBL37 -deleted-, Gloucestershire No change.
PBL38 -deleted-, Gloucestershire No change.
PBL39 -deleted-, Gloucestershire No change.
PBL40 -deleted-, Swansea No change.
PBL42 -deleted-, Gosport No change.
PBL43 -deleted-, Beaminster, Dorset No change.
PBL44 -deleted-, Beaminster, Dorset No change.
PBL45 - Land, Beaminster, Dorset No change.
PBL46 -deleted-, Glasgow No change.
PBL47 -deleted-, Essex Not completed yet. The borrower is on holiday and so is his lawyer. He has paid for our interest costs and the funds are in the client account.
PBL48 -deleted-, Essex No change.
PBL49 -deleted, Essex No change.
PBL50 -deleted-, Exeter Completed today.
PBL51 -deleted-, Crowborough Waiting for BoS to give permission to lodge our 2nd charge. They are being very slow.
PBL52 -deleted-, Crowborough No change.
PBL53 -deleted-, Tunbridge Wells Seller solicitor delaying.
PBL55 - Land with planning, Wales Funded. Will complete next week, probably Weds.
Thank you for investing in Saving Stream.
Kind regards,
The Saving Stream Team
www.savingstream.co.uk
Dear RegisterMe,
Welcome to our new look General Update.
Pre-Funding Option
We wanted to prevent a “scrum” when new loans went live and also to ensure that all who wanted to participate could do so. We allowed people to set an amount that they would be willing to invest in any loan that came through, and depending on availability, they would receive an allocation up to that maximum amount.
We initially stated that pre-funded loans would be filled from the bottom up with smaller investors getting thier full allocation and larger investors missing out on their full allocation. However, after consideration, we decided to amend that policy to an equal proportional split. In our excitement to try this out for the first time, our mistake was not communicating this change of policy in advance, which we can only apologise for profusely.
In response to feedback, we appreciate that our communication needs to improve on matters such as this. Important amendments to the Pre-funding option have also been created:
· You can now select to Pre-fund 'individual loans' or 'all loans' with a default rate as before.
· The Pipeline section will be kept up to date as a matter of course
· The Pipeline section now contains valuations (red) and loan particulars (blue).
Example 1: £1m loan, £2m in the loan's pre-funding pot, everyone will get 50% of their requested pre-funded amount.
Example 2: £3m loan, £2m in the loan's pre-funding pot, everyone will get 100% of their requested pre-funded amount and £1m is released for general availability.
Repayment of Outstanding Loans
PBL11 -deleted, Wokingham Expected repayment today.
PBL12 -deleted, Crowthorne Expected repayment today.
PBL14 – Leeds land Expected repayment today.
Pipeline Loans
Apartments + land with planning, Torquay - Probably going Live Next Friday or Following Monday.
Deleted, Somerset - Probably going Live Monday.
Commercial, Hackney - Probably going Live Monday.
Residential, Hackney - Probably going Live Monday.
Land in Hull - Probably going Live Today, completing today or Monday.
Land with planning, Scotland - Probably going Live Weds.
Office building, Somerset - Probably going live in 2 weeks.
Existing Loans
PBL4a -deleted- , Exeter Development finance has been agreed. End of September.
PBL4b -deleted-, Exeter See 4a.
PBL6 -deleted-, Chichester Refinancing his big london house. End of September full repayment
PBL11 -deleted-, Wokingham Expected repayment today.
PBL12 -deleted-, Crowthorne Expected repayment today.
PBL14 -deleted- Expected repayment today.
PBL15 -deleted-, Bedford Sale agreed for October 1st. Interest received.
PBL16 -deleted-, Cardiff No change.
PBL17 -deleted-, Swansea No change.
PBL18 -deleted-, Swansea No change.
PBL19 -deleted-, Dover No change.
PBL20 -deleted-, Midhurst Valuation has come in at £8-9m GDV. A large fund is prepared to lend on the build and take us out. End of September/October.
PBL21 -deleted-, Southsea Sale agreed for end of Sept.
PBL22 -deleted-, Bedford 2 months worth of interest and fees have been received. Refinancing any time.
PBL25 - Development land, Huddersfield No change.
PBL26 - Development site, Stockport Refinancing underway.
PBL27 -deleted-, Fleetwood No change.
PBL28 -deleted-, Roebeck, Ryde Renewing the loan for another 6 months. Valuation increased to £600k.
PBL29 -deleted-, East Kilbride No change.
PBL31 -deleted-, No change.
PBL32 -deleted-, Huntingdon Expecting £440k back iminently. We will retain 1st charge.
PBL33 -deleted-, Hemel Hempstead, No change.
PBL35 -deleted-, Pickering No change.
PBL36 -deleted-, Southsea Being refinanced by Lloyds.
PBL37 -deleted-, Gloucestershire No change.
PBL38 -deleted-, Gloucestershire No change.
PBL39 -deleted-, Gloucestershire No change.
PBL40 -deleted-, Swansea No change.
PBL42 -deleted-, Gosport No change.
PBL43 -deleted-, Beaminster, Dorset No change.
PBL44 -deleted-, Beaminster, Dorset No change.
PBL45 - Land, Beaminster, Dorset No change.
PBL46 -deleted-, Glasgow No change.
PBL47 -deleted-, Essex Not completed yet. The borrower is on holiday and so is his lawyer. He has paid for our interest costs and the funds are in the client account.
PBL48 -deleted-, Essex No change.
PBL49 -deleted, Essex No change.
PBL50 -deleted-, Exeter Completed today.
PBL51 -deleted-, Crowborough Waiting for BoS to give permission to lodge our 2nd charge. They are being very slow.
PBL52 -deleted-, Crowborough No change.
PBL53 -deleted-, Tunbridge Wells Seller solicitor delaying.
PBL55 - Land with planning, Wales Funded. Will complete next week, probably Weds.
Thank you for investing in Saving Stream.
Kind regards,
The Saving Stream Team
www.savingstream.co.uk
