bigfoot12
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Post by bigfoot12 on Mar 24, 2016 8:57:59 GMT
Hi, I'm reasonably new to SS. I have made a small investment over the last six months and now I am considering increasing it. I have three questions:
a) How do I see details of the loans I hold? When I click on My Loans I see a list. When I click on a loan I don't really get any further details, such as the valuation document.
b) How do I see the borrower's name? I can't immediately see it anywhere. I would like to be able to my own DD, but more importantly I suspect that some of the current loans might be to parties related to previous loans I have made, in which case I can't consider them to be independent. Is there an easy way to see if loans are connected?
c) I started lending once Lendy announced they were switching to a true P2P model. However I did invest in some loans that pre-date the conversion to this model. How can I tell which loans are actually to Lendy and which are true P2P?
I have read this thread and I can't find the answers to these questions, very sorry if I have missed something.
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Post by GSV3MIaC on Mar 24, 2016 9:03:18 GMT
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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 24, 2016 9:29:22 GMT
Hi, I'm reasonably new to SS. I have made a small investment over the last six months and now I am considering increasing it. I have three questions: b) How do I see the borrower's name? I can't immediately see it anywhere. I would like to be able to my own DD, but more importantly I suspect that some of the current loans might be to parties related to previous loans I have made, in which case I can't consider them to be independent. Is there an easy way to see if loans are connected? I have read this thread and I can't find the answers to these questions, very sorry if I have missed something. Generally, the only way to identify the borrower is using the valuation report for clues & then do some detective work. For some loans its obvious, same location, for others it only becomes obvious after a 'clue' eg a similar update, as in the case of the two land blocks in Wales/Scotland. One advantage of this forum is there are some quite good DD detectives.
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bigfoot12
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Post by bigfoot12 on Mar 24, 2016 10:56:10 GMT
Thank you both very much.
Not knowing if loans are related to each other seems to be a serious shortcoming. I suspect that I won't be increasing my SS investment as much as I expected after all.
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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 24, 2016 11:26:59 GMT
Thank you both very much. Not knowing if loans are related to each other seems to be a serious shortcoming. I suspect that I won't be increasing my SS investment as much as I expected after all. While the borrower is the same, the security is still distinct so a recovery scenario in most cases would be dependent on each asset individually. Where I think there is more of an issue is where the assets are concurrent eg elements of PBL37,38.39, 69, 70, 71, or the 4 farmland tranches, where it may be harder to recover security seperately. Obviously the danger with one borrower is all the loans go pop together but the risk is to some extent mitigated by the retention of interest up front so you have at least (given lack of clarity on terms in some cases) a 6 month period when risk appears lower. Personally I am happy to hold parts of (concurrent) loans with a common borrower to aid investment speed and base diversification but limit total investment to a sum across all elements that is less than the cumulative sum I would invest if they were separate and definately sell down significantly in advance of indicated (or estimated) redemption date. One other thing to bear in mind is that most loans have secondary security of a debenture & PG but the exact nature of these isnt well defined so could well be secured against the same personal assets/company and if called could have an impact on the other loans. eg Watford loans have corporate cross-guarentees.
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bigfoot12
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Post by bigfoot12 on Mar 24, 2016 11:41:15 GMT
Personally I am happy to hold parts of (concurrent) loans with a common borrower to aid investment speed and base diversification but limit total investment to a sum across all elements that is less than the cumulative sum I would invest if they were separate ... I am somewhat similar, happy to have a higher exposure to a single borrower if the security is distinct, but not as much as the sum of similar independent projects. My problem is that I don't know which projects are related and so there is nothing to do other than assume that many projects might be related and limit my exposure to SS. Which is a little disappointing as so far I have been happy.
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SteveT
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Post by SteveT on Mar 24, 2016 11:46:04 GMT
My problem is that I don't know which projects are related and so there is nothing to do other than assume that many projects might be related and limit my exposure to SS. Which is a little disappointing as so far I have been happy. ilmoro's list shows related loans pretty comprehensively! Look at the letters against the loan numbers
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bigfoot12
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Post by bigfoot12 on Mar 24, 2016 12:45:46 GMT
I have been investing on AC for many years and have always found ilmoro's lists very useful, I'm sure in time I'll find this one useful too. I am particularly interested in investing in new loans and presumably these are less likely to have any indication that they are linked? Also I'm sure that there is some consensus on some loans being linked, but is not possible that more are actually linked so that d=k or something similar?
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Post by GSV3MIaC on Mar 24, 2016 16:04:34 GMT
It's possible, but I think/hope we have combed most of the linkages out of the undergrowth by now. You could try asking SS .. I think linked loans is one of the things they really ought to be rather clearer about. ilmoro does a fine job, but it really ought to be savingstream saying it, officially.
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Post by caveman38 on Mar 25, 2016 6:16:39 GMT
Provisional Fund:
p2pindependentforum.com/thread/1642/investor-security?page=2
The Provision Fund - www.savingstream.co.uk/provision-fund
Today Saving Stream will be launching the 'Saving Stream Provision Fund'. Our Provision Fund is a discretionary fund that the shareholders of Lendy Ltd have created for the purpose of compensating investors should a shortfall exist during the disposal of any security held by Lendy Ltd. Our Provision Fund is a UK based company called Lendy Provision Reserve Limited and its Directors will consider requests made on behalf of the customers of Lendy Ltd if a loan were ever to default and the disposal of the security was insufficient to cover investor capital. In the interests of disclosure it should be noted that the Directors of Lendy Ltd are also the Directors of Lendy Provision Reserve Limited.
Does it exist, and how do I find it on their site.
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SteveT
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Post by SteveT on Mar 25, 2016 6:35:09 GMT
Yes, it exists. You've included the link to the current status (just under £2m currently) at the top of your own post. How it would be deployed in the event of a default shortfall is not defined since this is at the discretion of the provision fund directors.
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ablender
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Post by ablender on Mar 25, 2016 8:11:54 GMT
caveman38 just to add something to what SteveT said, once you click on your link, scroll up about an inch or two (on a desktop/laptop). You will see the current value.
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Post by caveman38 on Mar 25, 2016 8:18:14 GMT
Thanks guys. I don't know what's the matter with me, I just couldn't see it and it was at my fingertips.
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boble
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Post by boble on Mar 25, 2016 14:47:40 GMT
Apologies in advance if I have missed a thread which covers this.
In order for me to calculate the daily interest on my total Investment, is anyone able to advise whether the daily rate is based on the number of days in that month, or a 365/366 day year?
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SteveT
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Post by SteveT on Mar 25, 2016 16:32:21 GMT
Apologies in advance if I have missed a thread which covers this. In order for me to calculate the daily interest on my total Investment, is anyone able to advise whether the daily rate is based on the number of days in that month, or a 365/366 day year? daily rate is 12%/365
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