amie
New Member
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Post by amie on Oct 30, 2015 5:40:02 GMT
Hi everyone! I'm new to the forum, as well as to the SS itself. Can you tell, how often are loans added so that I can invest any funds? I'm planning on depositing a certain amount of money right away, but don't want this money just sit in my account - I want it to work.
Thanks!
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jonah
Member of DD Central
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Post by jonah on Oct 30, 2015 6:05:35 GMT
The upcoming loans tab gives a view. The latest version is quite new but I would guess at least half of the current list will be out in November. Also keep an eye on other loans, quite a lot of them will have parts on offer at some point in most days. ps welcome to the forum.  |
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bababill
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Post by bababill on Oct 30, 2015 6:14:03 GMT
I am a new to SS so I can't share much...But I have struggled to fill £500 in the last 7 days or so... But I only check the website say once a day or so....
But the good news is tomorrow morning I will be selling all those that I did purchase so they will be available.
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star dust
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Post by star dust on Oct 30, 2015 6:15:16 GMT
Hi amieThere is no need to deposit money immediately with SS. Once you do a deposit on the system your account will be credited with that amount and you have 24 hrs to send the cash to SS. There are loan parts for sale on the SM virtually daily, but they get snapped up very quickly, if you make a deposit as described and spend some time on site you might be able to pick up some loan parts, then send the amount paid to SS if you don't succeed or find any loan parts you want you can just offset your BACs deficit with the deposit that is still in your account, there will then be a zero balance and no need to send anything to SS. But remember to do this within 24 hrs or you might receive some chasing emails. There is a very healthy pipeline on SS at the moment, indicating there is likely to be new loan availability over the coming weeks, so I would suggest you pre-fund some of the loans you might want to buy. When they go up onto the system SS will allocate you an amount (possibly not what you wanted if the loan is popular) and send you an email telling you to send the appropriate funds within 24 hrs. So there is no need to have any idle funds on SS! |
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duck
Member of DD Central
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Post by duck on Oct 30, 2015 6:17:13 GMT
Welcome amie.
When you are starting out it is worth keeping an eye on 'green' loans on the loans list as Jonah has said. That way you can start to diversify immediately and not rely on building your loan book from new loans. Whilst final repayment dates are never certain you can work a bit on future cash flow as well as getting invested if you buy from the secondary market.
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ablender
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Post by ablender on Oct 30, 2015 8:21:52 GMT
The upcoming loans tab gives a view. The latest version is quite new but I would guess at least half of the current list will be out in November. Also keep an eye on other loans, quite a lot of them will have parts on offer at some point in most days. ps welcome to the forum. Do you have access to the new website?
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Post by ladywhitenap on Oct 30, 2015 10:11:11 GMT
The upcoming loans tab gives a view. The latest version is quite new but I would guess at least half of the current list will be out in November. Also keep an eye on other loans, quite a lot of them will have parts on offer at some point in most days. ps welcome to the forum. Do you have access to the new website? New Website?? I'm using the same one as I've been used to since joining a few months ago. Is there a newer one than https://www.savingstream.co.uk please? LW
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Post by GSV3MIaC on Oct 30, 2015 11:09:20 GMT
And is there maybe a website with some loans available to buy? As a potential ship-jumper from Fixedrate Circuses I am struggling to find anything to actually jump TO in the SS (or should that be Savings Trickle?) world .. and I thought LC, AC, ReBS, Ablrate etc were hard, but at least there was usually something on the SM (albeit at silly prices in some cases). I suppose it is a novel sort of liquidity problem, compared to the Normal FC one of 'can't sell' (at a reasonable price).
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SteveT
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Post by SteveT on Oct 30, 2015 11:38:32 GMT
And is there maybe a website with some loans available to buy? As a potential ship-jumper from Fixedrate Circuses I am struggling to find anything to actually jump TO in the SS (or should that be Savings Trickle?) world .. and I thought LC, AC, ReBS, Ablrate etc were hard, but at least there was usually something on the SM (albeit at silly prices in some cases). I suppose it is a novel sort of liquidity problem, compared to the Normal FC one of 'can't sell' (at a reasonable price). There is (I think) still availability on a Lamborghini and a Ferrari over at MT (12%, 6 months, 70% LTV)
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paulg
Member of DD Central
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Post by paulg on Oct 30, 2015 12:34:38 GMT
There is (I think) still availability on a Lamborghini and a Ferrari over at MT (12%, 6 months, 70% LTV) you're doing a great poaching sales job for Ed on here, are you on commission?  If you are he owe's you quite a bit for my investments over there! 
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SteveT
Member of DD Central
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Post by SteveT on Oct 30, 2015 12:38:56 GMT
There is (I think) still availability on a Lamborghini and a Ferrari over at MT (12%, 6 months, 70% LTV) you're doing a great poaching sales job for Ed on here, are you on commission? If you are he owe's you quite a bit for my investments over there! Nope, I just like the fact there are still a couple of platforms out there (of which SS is another) that try hard to respond to their Lenders' wishes and issues. They deserve to thrive as others do their best to antagonise those they used to rely on.
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Post by Deleted on Oct 30, 2015 16:04:18 GMT
And is there maybe a website with some loans available to buy? As a potential ship-jumper from Fixedrate Circuses I am struggling to find anything to actually jump TO in the SS (or should that be Savings Trickle?) world .. and I thought LC, AC, ReBS, Ablrate etc were hard, but at least there was usually something on the SM (albeit at silly prices in some cases). I suppose it is a novel sort of liquidity problem, compared to the Normal FC one of 'can't sell' (at a reasonable price). A viable strategy on SS is to wait for a new loan to come in (there are weeks with plenty of them). Once this happens, you will see a flurry of activity with lots of people selling parts (very quickly) so many of the loans will have availability and you can stick some money in. Of course there are 'dead' week like the current one when everyone keeps their slices and you don't see any activity on the secondary market. On SS the secondary market (being it with zero fees and zero profit) is a real exchange venue.
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Post by GSV3MIaC on Oct 30, 2015 17:09:51 GMT
OK I'll go look for my patient hat then ... I grok the zero markup and fees (fine by me) but what's the real deal on the interest payments on parts up for sale, or sold .. couldn't find the details on the website yet (although I haven't looked under EVERY semi-colon to see what is in hiding, not clicked every pixel looking for the mysterious hidden links). No rush to reply, first I have to buy some parts before I can even contemplate selling them..
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star dust
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Post by star dust on Oct 30, 2015 17:23:21 GMT
OK I'll go look for my patient hat then ... I grok the zero markup and fees (fine by me) but what's the real deal on the interest payments on parts up for sale, or sold .. couldn't find the details on the website yet (although I haven't looked under EVERY semi-colon to see what is in hiding, not clicked every pixel looking for the mysterious hidden links). No rush to reply, first I have to buy some parts before I can even contemplate selling them.. Your interest on a loan part stops as soon as you put it up for sale. However, as they sell in nano seconds it's a bit irrelevant at the moment. The most I have ever lost is 1 days interest and that was quite rare, and because there were a few pence left behind which took until the following day to go. The defaulted loan took quite some time to sell loan parts on, but even those did shift in the end. Monday morning (early) is quite a good time to buy usually, but there'll be lots of completion this Monday with people looking to re- invest their interest.
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SteveT
Member of DD Central
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Post by SteveT on Oct 30, 2015 17:25:11 GMT
OK I'll go look for my patient hat then ... I grok the zero markup and fees (fine by me) but what's the real deal on the interest payments on parts up for sale, or sold .. couldn't find the details on the website yet (although I haven't looked under EVERY semi-colon to see what is in hiding, not clicked every pixel looking for the mysterious hidden links). No rush to reply, first I have to buy some parts before I can even contemplate selling them.. When a part is listed for sale, the owner stops earning further interest but their accrued interest for the part month to that point is still paid at the month end.
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