mikes1531
Member of DD Central
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Post by mikes1531 on Feb 21, 2014 14:02:30 GMT
Loan size is £37,500.
21/2, Friday:
1355: £23,145 left to fund
1405: £21,145 left
1845: £13,775 left
2325: £12,673 left
22/2, Saturday:
1210: £12,573 left
1645: £12,373 left
24/2, Monday:
0200: £12,273 left
1440: £11,771 left
2200: £11,771 left
25/2, Tuesday:
1245: £11,271 left
26/2, Wednesday:
2130: £ 1,896 left
28/2, Friday:
0430: £ 1,296 left
03/3, Monday:
1130: £ 696 left
1520: All gone -- finally!
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Feb 21, 2014 16:57:16 GMT
This one's come just a little early for me - I'm expecting a previous loan to pay up in the near future and I would have recycled some of the funds into this one if it already had. As it is, I'm all out of fresh funds for the moment  |
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 21, 2014 17:44:42 GMT
Yes - it is that one. When previous loans have come up for renewal they haven't migrated funds over - they have repaid the capital and interest and then put the loan up again for all comers.
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Post by savingstream on Feb 21, 2014 18:00:11 GMT
Yes I can confirm that is the order of events for a renewal. Investors in the original loan will be repaid their capital plus interest and the renewal is then listed as a brand new loan for investment.
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mikes1531
Member of DD Central
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Likes: 2,320
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Post by mikes1531 on Feb 21, 2014 18:45:49 GMT
Yes I can confirm that is the order of events for a renewal. Investors in the original loan will be repaid their capital plus interest and the renewal is then listed as a brand new loan for investment. May I suggest/recommend that SS do what FS do in the same situation? They ask the existing lenders in the maturing loan whether or not they wish to allow their investment, or part of it, to roll over into the new loan. This gives SS's existing lenders preference, and it means that they don't have to participate in the scrum to reinvest. I'd hope that SS would like to develop a following of loyal lenders, and a policy like this would help. It also would help existing lenders avoid the need to be at their PCs for every renewal that comes along. If a lender builds up a portfolio of a number of loans, without such a policy they're going to have to be attending to their account and re-investing the proceeds from maturing loans all the time, and that will get old/annoying in a hurry.
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Post by elljay on Feb 22, 2014 8:54:52 GMT
May I suggest/recommend that SS do what FS do in the same situation?... Yes please. Another vote for asking exiting lenders if they want to roll funds into the new loan.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 22, 2014 11:24:19 GMT
Yes, I'd prefer that too - particularly because my ability to be at my screen is very limited over the next month or so. I'll be very likely to miss the re-investment opportunities if they aren't made available to me as an existing investor in that loan. Mind you, with FS having some potentially large loans on the horizon, maybe I could migrate the funds over there if that happens  |
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 22, 2014 11:34:27 GMT
Hmm - forum playing up for me this morning. I just made a post here which appears to have got lost. If it later appears, apologies for double post. Was just commenting that I would also like to be offered the opportunity to re-invest in renewed loans that I have previously invested in. In fact it could be the only way I could do so over the next month or so as my computer access is very limited at the moment. Otherwise, I'll have to migrate the money to FS who may have some large loans coming up soon |
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Post by savingstream on Feb 22, 2014 12:04:49 GMT
I can confirm that when we receive confirmation that a loan is to be renewed we will invite (by email) any existing investors in that loan to roll their investment over. Please be aware this will purely be the capital that is rolled over. Any interest that is earned from the original loan will be added to your available balance.
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mikes1531
Member of DD Central
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Post by mikes1531 on Feb 22, 2014 12:16:22 GMT
I can confirm that when we receive confirmation that a loan is to be renewed we will invite (by email) any existing investors in that loan to roll their investment over. Please be aware this will purely be the capital that is rolled over. Any interest that is earned from the original loan will be added to your available balance. Thank you. That's a very useful feature, and I appreciate SS supporting it.
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Post by elljay on Feb 22, 2014 12:50:32 GMT
Indeed - thanks for the quick, positive answer, SS.  |
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Post by bracknellboy on Feb 23, 2014 16:55:09 GMT
MONEY: excellent post. A bit of a watershed moment for this thread, though don't take me too litorrally. I've been trawling the net to see if there is a reason, but I too can't fathom it.
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Post by savingstream on Feb 23, 2014 17:44:31 GMT
Investors may be holding off on porpoise and waiting for the valuation report to become available to mullet over, which should be tomorrow (24th Feb).
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Feb 24, 2014 1:53:52 GMT
I can confirm that when we receive confirmation that a loan is to be renewed we will invite (by email) any existing investors in that loan to roll their investment over. Please be aware this will purely be the capital that is rolled over. Any interest that is earned from the original loan will be added to your available balance. Can you give us any idea about the timing of the possible renewal? Someone suggested earlier in the thread that it might happen Monday, but I'm in that loan and haven't received any official notice, so perhaps they were speculating based on the loan having reached its 6-month maturity over the weekend. Has there been any feedback from the borrower about their intention?
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Post by savingstream on Feb 24, 2014 10:40:26 GMT
The feedback from the borrower is that he expects to renew the loan early this week.
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