ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,333 
Likes: 11,552
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Post by ilmoro on Sept 21, 2016 18:56:46 GMT
I can try There are two banks of Gloucestershire Loans (same Borrower)... > Bank 1 - PBL039, PBL038, PBL037 : 12 Month Loan which drewdown 19/06/15 > Bank 2 - PBL071, PBL070, PBL069 : 12 Month Loan which drewdown 14/12/15 A couple of months ago <will insert date here later> Bank 1 had it's term extended, while on the same day bank 2 had its term reduced. SS never provided an explanation to why this occurred, but it was assumed that SS transferred some of the interest held with Bank 2 to, to extend Bank 1 (to then match the terms). thanks, that makes it a bit/lot clearer, i was a little puzzled as to why lendy ltd placed their charge over the pbl070 in june 2015, 5 months prior to the valuation. 24/6 was roughly when they got extended/reduced (noted in updates list without date) There are two different charges, the oldest ones refer to the original loans under the old T&Cs/structure (Lendy the beneficiary), the later charges refer to the second batch of loans as well as the first (I suspect) when all loans were moved onto the new T&Cs/structure (SSSH the benficiary). The buildings are all connected so it was always slightly odd that charges could be held against only bits of the title. I expect the Lendy charges have actually been satisfied and only the later charge actually exists but Im just guessing
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Post by martin44 on Sept 21, 2016 19:05:54 GMT
ilmoro Thanks for the explanation, now i know why i was puzzled, all very complicated. 
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Post by martin44 on Sept 21, 2016 19:22:51 GMT
cooling_dude thanks, that makes it a bit/lot clearer, i was a little puzzled as to why lendy ltd placed their charge over the pbl070 in june 2015, 5 months prior to the valuation. 24/6 was roughly when they got extended/reduced (noted in updates list without date) There are two different charges, the oldest ones refer to the original loans under the old T&Cs/structure (Lendy the beneficiary), the later charges refer to the second batch of loans as well as the first (I suspect) when all loans were moved onto the new T&Cs/structure (SSSH the benficiary). The buildings are all connected so it was always slightly odd that charges could be held against only bits of the title. I expect the Lendy charges have actually been satisfied and only the later charge actually exists but Im just guessing Note to self. Please remember to read ilmoro updates. (brain in gear...etc etc) i have now added your update list to my handy little personal "what to do next list" 
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Post by charliebrown on Nov 15, 2016 3:03:04 GMT
Is anyone worried about these loans? I've got 6 figures across them all but I haven't had a chance to follow my investment closely (my bad). I tried to offload them on SM but, at the time, they didn't sell so after about 7 days I cancelled the SM sale. I saw some updates saying 2 buyers are waiting to buy but that update seems to have disappeared. I think I also saw somewhere on this forum that the borrow has been declared bankrupt. The latest update goes back to a position that had been communicated weeks ago in that there's some investment money about ready to pour in and resolve everything (I, for one, am finding it hard to have any confidence in that update, and why was the previous update, about having 2 buyers, removed). Starting to get a bit nervous, alarm bells are ringing. I noticed the SM for these loans is clogged up again and probably can't shift them. I generally, as a strategy, am OK to hold loans to completion, but just wanted to ask the experts on here what they believe the risk on these loans to be.
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Post by dodgeydave on Nov 15, 2016 5:32:26 GMT
Is anyone worried about these loans? I've got 6 figures across them all but I haven't had a chance to follow my investment closely (my bad). I tried to offload them on SM but, at the time, they didn't sell so after about 7 days I cancelled the SM sale. I saw some updates saying 2 buyers are waiting to buy but that update seems to have disappeared. I think I also saw somewhere on this forum that the borrow has been declared bankrupt. The latest update goes back to a position that had been communicated weeks ago in that there's some investment money about ready to pour in and resolve everything (I, for one, am finding it hard to have any confidence in that update, and why was the previous update, about having 2 buyers, removed). Starting to get a bit nervous, alarm bells are ringing. I noticed the SM for these loans is clogged up again and probably can't shift them. I generally, as a strategy, am OK to hold loans to completion, but just wanted to ask the experts on here what they believe the risk on these loans to be. Look on this link. All updated by ilmoro . It does state 2 buyers are ready and waiting. But SS updates are not renowned for their accuracy p2pindependentforum.com/thread/2635/savingstream-loans-updates-useful-links?page=1
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Post by geraldine1210 on Nov 15, 2016 7:47:02 GMT
Is anyone worried about these loans? I've got 6 figures across them all but I haven't had a chance to follow my investment closely (my bad). I tried to offload them on SM but, at the time, they didn't sell so after about 7 days I cancelled the SM sale. I saw some updates saying 2 buyers are waiting to buy but that update seems to have disappeared. I think I also saw somewhere on this forum that the borrow has been declared bankrupt. The latest update goes back to a position that had been communicated weeks ago in that there's some investment money about ready to pour in and resolve everything (I, for one, am finding it hard to have any confidence in that update, and why was the previous update, about having 2 buyers, removed). Starting to get a bit nervous, alarm bells are ringing. I noticed the SM for these loans is clogged up again and probably can't shift them. I generally, as a strategy, am OK to hold loans to completion, but just wanted to ask the experts on here what they believe the risk on these loans to be. The sm has emptied out several times recently. There us less than £1900 in total of these loans currently. If you had persevered you could have rid yourself of these loans. Indeed, you still could, if you dripped if on now. Edit: More on there now.
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Post by charliebrown on Nov 15, 2016 9:00:57 GMT
Is anyone worried about these loans? I've got 6 figures across them all but I haven't had a chance to follow my investment closely (my bad). I tried to offload them on SM but, at the time, they didn't sell so after about 7 days I cancelled the SM sale. I saw some updates saying 2 buyers are waiting to buy but that update seems to have disappeared. I think I also saw somewhere on this forum that the borrow has been declared bankrupt. The latest update goes back to a position that had been communicated weeks ago in that there's some investment money about ready to pour in and resolve everything (I, for one, am finding it hard to have any confidence in that update, and why was the previous update, about having 2 buyers, removed). Starting to get a bit nervous, alarm bells are ringing. I noticed the SM for these loans is clogged up again and probably can't shift them. I generally, as a strategy, am OK to hold loans to completion, but just wanted to ask the experts on here what they believe the risk on these loans to be. The sm has emptied out several times recently. There us less than £1900 in total of these loans currently. If you had persevered you could have rid yourself of these loans. Indeed, you still could, if you dripped if on now. Edit: More on there now. I no longer like the look of these. I've just dropped most of what I had back on the SM. Let's see whether it will sell. Thanks for the links and the advice.
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Post by geraldine1210 on Nov 15, 2016 9:14:58 GMT
The sm has emptied out several times recently. There us less than £1900 in total of these loans currently. If you had persevered you could have rid yourself of these loans. Indeed, you still could, if you dripped if on now. Edit: More on there now. I no longer like the look of these. I've just dropped most of what I had back on the SM. Let's see whether it will sell. Thanks for the links and the advice. Most?
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fp
Posts: 1,008
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Post by fp on Nov 15, 2016 10:27:56 GMT
* Wondering why there isn't £100,000 of these available on the SM  |
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lobster
Member of DD Central
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Post by lobster on Nov 15, 2016 10:57:22 GMT
* Wondering why there isn't £100,000 of these available on the SM Perhaps some take the view that £ 1,000.00 is "six figures" 
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seeingred
Member of DD Central
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Post by seeingred on Nov 15, 2016 11:14:03 GMT
As a newcomer on here (but not new to P2P) I began investing in SS at a time of severe famine on the SM - end of September. Days went by and there was nothing.
I grabbed what I could in a lengthy ffff (almost anything!) and this included 056 and 064 both of which looked OK from updates. At the time I trusted SS updates. I also got many small loan parts of all the Gloucestershire loans but only totalling around 2000 - peanuts.
Despite what I now know about persons involved in 056 and 064 (thank you oldgrumpy), and my increasing suspicions about all the Gloucestershire loans, I have been amazed that all these continue to sell on the SM. Last night there was nothing of 056 or 064 on the SM. Ditto a few of the G loans. It lasted only a few minutes.
I got rid of all my Gloucestershire and Somerset holdings some time ago at a time of temporary famine - most sold within a day.
I was left with 29p of 038 stuck on the SM - that was the total of 038 on the SM at the time and the rest of my loan part was sitting with SS not in my balance. Someone added more to the queue so I bought £2 of 038 (which included my 29p) and that completed the sale of my loan part - I then sold my new £2 loan part next day.
I wondered at the time if it was 'legal' to buy back just my 29p so releasing all my loan part as cash, but I left it until someone else added another loan part for sale. Then I invested in some farmland......There was variously either over £50,000 or nothing of it for sale.
If selling a large loan part (say £5000) at a time of famine - if you are quick - it seems likely you can buy back £3000 when £2000 has sold, then put the £3000 back up for sale - thus both releasing £2000 as cash and preserving your place in the queue (at a time of famine you can be the only loan part up for sale).
SS has worked well for me so far but as investors become more aware and wary I can't see current ease of selling dubious loans on the SM continuing, especially if good new loans become available - even at lower rates. I'd prefer a good 10% loan to a dubious 12% one. On MT, Tranche B of a certain loan quickly sold out at 13% despite warnings it was far more risky than Tranche A.
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twoheads
Member of DD Central
Programming
Posts: 1,089
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Post by twoheads on Nov 15, 2016 11:28:52 GMT
I wondered at the time if it was 'legal' to buy back just my 29p so releasing all my loan part as cash, but I left it until someone else added another loan part for sale. Then I invested in some farmland......There was variously either over £50,000 or nothing of it for sale. I have done this too. When selling a large loan part which includes an odd few pence, often the whole pounds are quickly snapped up leaving the odd few pence unsold for ages. The tied up capital is easily released by buying back those annoying few pennies. You can then dump them straight back on the SM. I've seen other references to this practice in the forum but I cannot recall the thread(s). Perfectly 'legal' in my opinion.
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Post by GSV3MIaC on Nov 15, 2016 11:41:05 GMT
It's actually SS's 'fault' if I can use that word, for rounding displayed amounts .. if you list £1000.49 everyone sees it as '£1000', so that's what they'll probably try to buy .. leaving you with 49p. If you list £1000.51 they'll see £1001, and get surprised when they buy an odd 51p worth.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Nov 15, 2016 12:39:58 GMT
It seems that SS only show the pennies if the amount is less than £100.
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adrianc
Member of DD Central
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Post by adrianc on Nov 16, 2016 8:05:56 GMT
The tied up capital is easily released by buying back those annoying few pennies. You can then dump them straight back on the SM. ...so long as your balance isn't -ve by even 1p...
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