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Post by gaspilot on Aug 24, 2016 15:19:54 GMT
24/08/2016 L****s £110,222.00  24/08/2016 L****s £66,269.86  He/She has just bought another £0.42 !?
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treeman
Member of DD Central
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Post by treeman on Aug 24, 2016 15:22:03 GMT
Had some near the front of the Qs - showing as Sold rather than Repaid
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Post by dualinvestor on Aug 24, 2016 15:22:58 GMT
They should be requesting that the borrower pay ALL the loan NOW, NOT when the borrower would like. Anyway, probably because the loan repayment is overdue, SS knows the borrower has £3M cash which he could use to part repay the loan and has no credible reason (like funds are expected from Dubai) to say he cannot afford to pay anything back. That would leave the full original security in place and a much lower debt and LTV adjusted to 38%. Alternatively the borrower could just pay off the two items totalling £3.2M leaving the rest overdue at 70% LTV and make excuses.  Huh - as if that is going to happen. Many borrowers with SS seem to pay back as late as they possibly can.  Imminently  It's about time savingstream started playing hardball with these people and stopped being so naive. They, allegedly, continue to accept any story from borrowers and introducers without, apparently, checking the facts for themselves. How hard is it to carry out the DD and checks that many on this platform do on a daily basis? Lenders, the mainstay of their business, are entitled to respect and we expect a professional approach to the handling of all loans. It would seem, to use someone else's phrase, savingstream have a policy of "extend and pretend," prefering "to explore all options" before enforcing sevurity or defaulting loans. There have not been enough outcomes on late loans to decide whether this is an effective strategy.
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oldgrumpy
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Post by oldgrumpy on Aug 24, 2016 15:24:30 GMT
Mine weren't in the Q but they will be now.
Three minutes later - all gone.
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Post by wickedxuk on Aug 24, 2016 15:26:06 GMT
Well pbl77 has definitely gone. Can't find it anywhere and my part has also gone from my selling parts. Coincidently I transfered the exact same amount to cover my prefunding for one of the new loans. I can't tell if my balance is cleared from my transfer or the sale of the loan part...
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 24, 2016 15:28:34 GMT
The BH was L****s - must have been Liz p****n is on the buy too. Does someone know something we don't? edit ... of course nothing changes ... the loan is still overdue with an uncertain time fame expected for repayment.
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jimbob
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Post by jimbob on Aug 24, 2016 15:30:12 GMT
The BH was L****s - must have been Liz p****n is on the buy too. Does someone know something we don't? Bedfordshire county council development committee 
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 24, 2016 15:33:08 GMT
I bet dude gets a shock when he climbs out of his Chester freezer!
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nick
Member of DD Central
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Post by nick on Aug 24, 2016 15:38:21 GMT
It's about time savingstream started playing hardball with these people and stopped being so naive. They, allegedly, continue to accept any story from borrowers and introducers without, apparently, checking the facts for themselves. How hard is it to carry out the DD and checks that many on this platform do on a daily basis? Lenders, the mainstay of their business, are entitled to respect and we expect a professional approach to the handling of all loans. It would seem, to use someone else's phrase, savingstream have a policy of "extend and pretend," prefering "to explore all options" before enforcing sevurity or defaulting loans. There have not been enough outcomes on late loans to decide whether this is an effective strategy. Defaulting a loan is always the last option because of the legal costs involved and the greatest risk of a capital loss when the security is being sold by a distressed seller. That why nearly all lenders, including greedy banks, will defer defaulting a loan until all other options have been exhausted. The exception is if there any erosion of the value of security (eg housing market collapse) in which case time of greater essence. The borrower will invariably place more value on the asset than a fire sale so let them do the work, providing they appear to be taking genuine steps to exit the loan - interest will continue to accrue until the loan is repaid.
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treeman
Member of DD Central
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Post by treeman on Aug 24, 2016 15:39:54 GMT
The BH was L****s - must have been Liz p****n is on the buy too. Does someone know something we don't? edit ... of course nothing changes ... the loan is still overdue with an uncertain time fame expected for repayment. Don't seem to have taste for Garden Centres tho Or spacious executive retreats .....
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Post by dualinvestor on Aug 24, 2016 15:40:37 GMT
It would seem, to use someone else's phrase, savingstream have a policy of "extend and pretend," prefering "to explore all options" before enforcing sevurity or defaulting loans. There have not been enough outcomes on late loans to decide whether this is an effective strategy. With respect, I would suggest that the effective strategy is to check that what borrowers tell you is correct and not a figment of their imagination. You don't have to respect what I am saying, it is just my comment on what they do, I don't know whether it is effective, but I am also not sure, to use your earler phrase if "playing hardball", would be more effective in achieving what everyone wants, full repayment of the loan.
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Post by grodecki on Aug 24, 2016 17:46:38 GMT
Enormous amount of these gone off the market today, any reason why?!
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Aug 24, 2016 17:50:27 GMT
Enormous amount of these gone off the market today, any reason why?! Was noted on the previous page. Looks like we have a new BH (or Liz had one of her spending sprees )
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ped
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Post by ped on Aug 24, 2016 18:21:17 GMT
24/08/2016 L****s £110,222.00 24/08/2016 L****s £66,269.86 And £35,740.00 same BH. Over 200K Wow that will be a nice 2grand a month return.
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Liz
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Post by Liz on Aug 24, 2016 18:25:06 GMT
24/08/2016 L****s £110,222.00 24/08/2016 L****s £66,269.86 And £35,740.00 same BH. Over 200K Wow that will be a nice 2grand a month return. Or £200k capital loss
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Imminently 
