homes119
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Post by homes119 on Mar 29, 2016 8:37:05 GMT
I raised around the time the new T&Cs launched, might have even emailed SS, and have dropped it into a few discussions since but never elicted any response. So the straight answer to you question is no  Thanks, that's not normal, i'll send an email to them and revert. If they don't respond i'll create a dedicated thread. I contacted Saving Stream. Good news, they said that it is a topic they are discussing internally at the moment. They will be putting the contracts onto the platform in the not so distant future and they'll be sending out some more information on it soon. I'm looking forward to it as I plan to ramp up my investment once I have had a look at the contracts. In the meantime, i'll keep investing small sums in each loan that appeals to me.
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star dust
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Post by star dust on Mar 29, 2016 19:41:35 GMT
I contacted Saving Stream. Good news, they said that it is a topic they are discussing internally at the moment. They will be putting the contracts onto the platform in the not so distant future and they'll be sending out some more information on it soon. I'm looking forward to it as I plan to ramp up my investment once I have had a look at the contracts. In the meantime, i'll keep investing small sums in each loan that appeals to me. A new 'Contract' column has sprouted on My Loans / Live Loans Tab next to each loan - there's nothing in it yet though  .
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ablender
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Post by ablender on Mar 29, 2016 20:28:35 GMT
I contacted Saving Stream. Good news, they said that it is a topic they are discussing internally at the moment. They will be putting the contracts onto the platform in the not so distant future and they'll be sending out some more information on it soon. I'm looking forward to it as I plan to ramp up my investment once I have had a look at the contracts. In the meantime, i'll keep investing small sums in each loan that appeals to me. A new 'Contract' column has sprouted on My Loans / Live Loans Tab next to each loan - there's nothing in it yet though . . I have to say that it is useful to have space that can be used as necessary when needs are identified.
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stokeloans
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Post by stokeloans on Mar 30, 2016 14:01:02 GMT
Has the interest rate been 12% since SS began ?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 30, 2016 14:05:35 GMT
Has the interest rate been 12% since SS began ? Yes
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Post by caveman38 on Mar 31, 2016 8:07:52 GMT
How often are loans repaid on time. I ask as I am a relative newcomer to the platform and am not aware of any recent but am of overdue ones. I am not overly concerned except for committing more funds and would like to feel some of the loans would filter back to my account for other loans. I'd also be more relaxed if I thought that more loans would make there way back my account if I needed money rather than relying on SM. Is there any pattern to loans being repaid.
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pom
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Post by pom on Mar 31, 2016 8:14:10 GMT
How often are loans repaid on time. I ask as I am a relative newcomer to the platform and am not aware of any recent but am of overdue ones. I am not overly concerned except for committing more funds and would like to feel some of the loans would filter back to my account for other loans. I'd also be more relaxed if I thought that more loans would make there way back my account if I needed money rather than relying on SM. Is there any pattern to loans being repaid. I think you should never expect ANY of them to pay ontime....early maybe (no-one's going to keep them any longer than they have to) or late, but I'd be surprised if any bridging loan meets the exact date, especially when usually reliant on sales or refinance, and therefore lots of slow, unpredictable, legals
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 31, 2016 9:26:19 GMT
How often are loans repaid on time. I ask as I am a relative newcomer to the platform and am not aware of any recent but am of overdue ones. I am not overly concerned except for committing more funds and would like to feel some of the loans would filter back to my account for other loans. I'd also be more relaxed if I thought that more loans would make there way back my account if I needed money rather than relying on SM. Is there any pattern to loans being repaid. See graphs at bottom of updates list post. No pattern.
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Post by caveman38 on Mar 31, 2016 9:32:41 GMT
Thanks for pointing me to the graphs Ilmoro. I have to confess to not being able to interpret what they mean, sorry.
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adrianc
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Post by adrianc on Mar 31, 2016 10:00:41 GMT
Thanks for pointing me to the graphs Ilmoro. I have to confess to not being able to interpret what they mean, sorry. It's not terribly obvious, agreed. The graphs show the loans which have either repaid completely or reached their initial term. Let's look just at the percent graph. AIUI, the percentage for each loan is relative to their initial term - so 0% says "Repaid on the due date". 100% says "was 100% late" - so, if the loan was originally 12mo, it paid 12mo late. -50% says "was 50% early" - so, if the loan was originally 12mo, it paid 6mo early. pom is bob-on the money with her explanation. Somebody is borrowing money as a short-term bridge - think about when the buyer for your house falls through, but you still want to the one you're moving to - you get a bridging loan, much higher rate than a mortgage, but much quicker and easier to get, and much more flexible about payback. The borrower says "Umm, gimme 12mo" and pays 12mo interest up front. If they sort cheaper, long-term finance - or sell the asset - in that time, then they'll repay early. If they don't, then they'll continue to pay the interest ad-hoc, or extend the term by paying a wodge of interest. THAT's why we get 12% with decent LTV against secured assets...
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Post by caveman38 on Apr 4, 2016 15:44:56 GMT
How long do withdrawals normally take to hit your bank.
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jonah
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Post by jonah on Apr 4, 2016 20:03:04 GMT
How long do withdrawals normally take to hit your bank. If requested early in the day, generally same year day. Otherwise next working day.
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Post by wonder on Apr 5, 2016 22:18:37 GMT
OK, here's a really simple question. If a loan is refinanced, does that mean that it just carries on, or is the old loan wound up, with a payout to all of the investors? If it just carries on, then doesn't that mean that a loan could be refinanced over and over, with the lenders never getting paid back (unless they go to the secondary market)?
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jonah
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Post by jonah on Apr 6, 2016 5:21:03 GMT
OK, here's a really simple question. If a loan is refinanced, does that mean that it just carries on, or is the old loan wound up, with a payout to all of the investors? If it just carries on, then doesn't that mean that a loan could be refinanced over and over, with the lenders never getting paid back (unless they go to the secondary market)? It just carries on, unless it goes from a pbl to a dfl. Yes, this means a loan can be very long. See pbl006 for an example.
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awk
Posts: 276
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Post by awk on Apr 6, 2016 6:07:43 GMT
OK, here's a really simple question. If a loan is refinanced, does that mean that it just carries on, or is the old loan wound up, with a payout to all of the investors? If it just carries on, then doesn't that mean that a loan could be refinanced over and over, with the lenders never getting paid back (unless they go to the secondary market)? It just carries on, unless it goes from a pbl to a dfl. Yes, this means a loan can be very long. See pbl006 for an example. When the PBLs were rolled into DFLs, SS did offer to buy the parts of any original investors who wanted out. At the time, it wasn't important as anything sold on the SM in minutes, but hopefully this is the standard model going forward.
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