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Post by savingstream on Feb 10, 2016 13:19:07 GMT
Hi Everyone,
Just to keep you all in the loop, we will be issuing the 48 hours notice before we go live with a number of loans very soon i.e tmrw afternoon. We are hoping to receive the valuation documents for all 4 tranches of the farmland in Bedfordshire TOMORROW which we will put up as soon as they arrive with us for your perusal.
We will then allocate loan parts on Saturday with the intention of completing on the loan on Tuesday. We are going to recommend that you start sending your funds over to keep on your account at SS as soon as possible so that we have the funds to complete on Tuesday morning please as the banking system is a trifle frustrating over the weekends! You won't be investing in this loan until the val docs and the parts are updated.
Thanks for investing with Saving Stream.
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Post by savingstream on Feb 10, 2016 13:27:30 GMT
So next Tuesday is when we can expect lot's of market activity? Any way we can beat the bots that are making it impossible to buy any loan parts at the moment? I've been trying since Monday and all go quicker than I can click on the loan part, type the amount, click the robot pictures then hit enter key twice to confirm. There are no bots. It depends on your internet speed and pot luck. But yes, there should be a lot of activity on the SM.
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Liz
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Post by Liz on Feb 10, 2016 13:28:33 GMT
So next Tuesday is when we can expect lot's of market activity? Any way we can beat the bots that are making it impossible to buy any loan parts at the moment? I've been trying since Monday and all go quicker than I can click on the loan part, type the amount, click the robot pictures then hit enter key twice to confirm. I got the impression of Saturday.
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ton27
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Post by ton27 on Feb 10, 2016 13:31:39 GMT
I am a newbie here and have only participated in the two recent loans (and got about 10% of my pre-funding requests). As I understand it SS would like me to send money to sit in my account but I really have no idea how much to send - will it be 10% or 100% of the pre-funded amounts?
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Post by savingstream on Feb 10, 2016 13:32:12 GMT
If the valuation doc comes in tmrw, we will go live on saturday which should create significant SM activity. However, it might start from the moment we release the 48 hour notice or indeed now as we are discussing this and people begin to get their ducks in a row.
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pom
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Post by pom on Feb 10, 2016 13:34:51 GMT
So savingstream is this a change in the money transfer processes? Are you getting rid of the grace period to transfer money over? |
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Liz
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Post by Liz on Feb 10, 2016 13:55:58 GMT
Are all four tranches going live at once or just loan A?
I just prefunded A, just in case,but worry it might be way oversubscribed.
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Post by Deleted on Feb 10, 2016 14:00:52 GMT
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Post by savingstream on Feb 10, 2016 14:16:32 GMT
So SS are running short of cash to fund? They are going to stop lenders going overdrawn??? Sorry what does this mean? Of course we are not short of cash. Just you wait until our accounts are finalised!! 
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caesium
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Post by caesium on Feb 10, 2016 14:20:12 GMT
So SS are running short of cash to fund? They are going to stop lenders going overdrawn??? Sorry what does this mean? Of course we are not short of cash. Just you wait until our accounts are finalised!! I think the point was, if you're not short of cash, why do you need our deposits to fund the loan. I have to admit I thought the same thing on reading the initial post
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Post by highlandtiger on Feb 10, 2016 14:21:04 GMT
So savingstream is this a change in the money transfer processes? Are you getting rid of the grace period to transfer money over? I may be wrong but the impression I get from SS is that they are just trying to head off any funding issues caused by the delays that occur over weekends when transferring money. Whilst there won't be a problem with most banks if anyone is using say a transferwise/currencyfair company to move money into SS, leaving it until you receive your loan part may result in SS not receiving their money until after the 48 hour cut off period.
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awk
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Post by awk on Feb 10, 2016 14:22:18 GMT
Are all four tranches going live at once or just loan A? I just prefunded A, just in case,but worry it might be way oversubscribed. Hi SavingStream, Please could you confirm if all 4 are going live, or just A? I thought you had answered a query that splitting it in 4 was to allow phased drawdown (although I can't find that post right now) Many thanks
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Post by Deleted on Feb 10, 2016 14:29:56 GMT
Are all four tranches going live at once or just loan A? I just prefunded A, just in case,but worry it might be way oversubscribed. Hi SavingStream, Please could you confirm if all 4 are going live, or just A? I thought you had answered a query that splitting it in 4 was to allow phased drawdown (although I can't find that post right now) Many thanks If the money is needed to buy the farm all 4 parts will be listed at once.
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adrianc
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Post by adrianc on Feb 10, 2016 14:35:42 GMT
I am a newbie here and have only participated in the two recent loans (and got about 10% of my pre-funding requests). As I understand it SS would like me to send money to sit in my account but I really have no idea how much to send - will it be 10% or 100% of the pre-funded amounts? Nobody knows until the pre-fund is closed on go-live, because nobody knows how much is being committed. The one thing we CAN say with certainty is that there's £7m of funding being asked for, more than double the largest pre-funded loan to date, and SS's largest loan to date (if you view the four tranches as one) - so it's really rather unlikely to be massively over-subscribed. Even just one tranche would probably not be heavily over-subscribed.
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Post by highlandtiger on Feb 10, 2016 14:37:30 GMT
I am a newbie here and have only participated in the two recent loans (and got about 10% of my pre-funding requests). As I understand it SS would like me to send money to sit in my account but I really have no idea how much to send - will it be 10% or 100% of the pre-funded amounts? Nobody knows until the pre-fund is closed on go-live, because nobody knows how much is being committed. The one thing we CAN say with certainty is that there's £7m of funding being asked for, more than double the largest pre-funded loan to date, and SS's largest loan to date (if you view the four tranches as one) - so it's really rather unlikely to be massively over-subscribed. Even just one tranche would probably not be heavily over-subscribed. Don't forget though we have had a few loans repaid in the last week or so and I doubt if all that money has been reinvested yet.
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