|
|
Post by Deleted on Mar 9, 2016 11:24:16 GMT
I walked by this area a few weeks back. One is scaffolding up, decks and stairwells cast in place, lots of techies installing cables. The other is foundation block cast only. Which is it?
|
|
homes119
Member of DD Central
Posts: 93 
Likes: 19
|
Post by homes119 on Mar 9, 2016 11:46:43 GMT
Anyone know why this is a pebble rather than a devil? I know it has an 'as is' valuation, but it is still a bare shell that needs 4mm quid spent on it to finish? It's a bridging loan; the borrower is getting the entire amount upfront (not in stages), and the amount is due to be repaid within 12 months. Why is Block C a PBL while Block B a DFL? Also, why isn't there a Block A in the pipeline?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Mar 9, 2016 11:59:44 GMT
It's a bridging loan; the borrower is getting the entire amount upfront (not in stages), and the amount is due to be repaid within 12 months. Why is Block C a PBL while Block B a DFL? Also, why isn't there a Block A in the pipeline? Block C is secured against current value and all funds are being released at once. Block C is already partly constructed using a previous SS loan and a loan from another provider. It is provideing the borrower with short term funds to allow completion and bridge the gap until sufficient funds are raised through sales of the flats. Block B is secured against completion value (GDV) and funds will be released in phases. Presumably because the borrower started construction at the other end and isnt tackling two many projects at once. Could also be that Block A (which may be Uni definition) isnt this borrowers project
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Mar 9, 2016 12:18:17 GMT
I got 100% too, probably double what I was expecting but still OK. Maybe SS's new disciplinarian approach has deterred some people from massively overbidding? Not much judging by the large amounts being dumped on the SM. However, I think that, coupled with the increased deal flow, the size of recent loans and the increased availability on the SM may help temper it a bit, at least going forward.
|
|
davex
Member of DD Central
Posts: 81
Likes: 18
|
Post by davex on Mar 9, 2016 14:44:21 GMT
Missed this one, so did'nt pre-fund.
Still, shall have a bite now.
|
|
|
|
Post by Deleted on Mar 14, 2016 10:23:03 GMT
Has anyone kept a log of how much has been sold of PB085 staged SS secondary sales?
I have been looking the available queue for a while and it seems there is Always plenty of 85 there and this has been going on for almost a week...
This loan was for 4.5 million an coming shortly after another large ones (the 84 scottish estate and the bedfordshire 4 tranches land), so clearly will take time.
But is there enough spare capacity in the network to absorb it before (eventual) new repayments this/next week?
It seems to me that either SS finds additional underwriters or need quite a lot new lenders, specially if they wat to go on with the large loans in the pipeline.
|
|
|
|
Post by supernumerary on Mar 14, 2016 11:03:35 GMT
Has anyone kept a log of how much has been sold of PB085 staged SS secondary sales? I have been looking the available queue for a while and it seems there is Always plenty of 85 there and this has been going on for almost a week... This loan was for 4.5 million an coming shortly after another large ones (the 84 scottish estate and the bedfordshire 4 tranches land), so clearly will take time. But is there enough spare capacity in the network to absorb it before (eventual) new repayments this/next week? It seems to me that either SS finds additional underwriters or need quite a lot new lenders, specially if they wat to go on with the large loans in the pipeline. hor1997, I don’t have a log for the sales of PBL085 on the secondary market. I have just done some rough calculations though on the size of the loan and the number of Saving Stream investors. £4.5m divided by 6,788 equals £662.9. IMHO, a number of investors don’t have a big enough account, to have that large amount (for them), to spread their risks over a portfolio of loans. For instance investors with a £10,000 Saving Stream account (and below), may only be risking 5% per each loan, so the maximum that they would invest would be £500. My guess is that there is money still to be invested on the platform, but people don't want to over subscribe into any one new loan. That is clearly understandable. Regarding your observation, “ It seems to me that either SS finds additional underwriters or need quite a lot new lenders, specially if they wat to go on with the large loans in the pipeline.” For PBL085, with the loan figure at £4,500,000 loan and £477,553 still needed to be found. That equates to 10% of the loan still needing to be found. If non of the existing lenders provide additional funds onto the platform and with the current number of Saving Stream investors standing at 6,789. A 10% increase on that current total would be 679, to fund the £477,553 still needed to be found for PBL085. It would appear that 10 new Saving Stream investors are coming to the platform per day, so that would take 68 days. That would be a worse-case scenario. IMHO, this new PBL085 loan will be fully funded in the next seven days, based on my observations of what has previously happened.
|
|
pom
Member of DD Central
Posts: 1,922 
Likes: 1,244
|
Post by pom on Mar 14, 2016 11:47:30 GMT
hor1997, I don’t have a log for the sales of PBL085 on the secondary market. I have just done some rough calculations though on the size of the loan and the number of Saving Stream investors. £4.5m divided by 6,788 equals £662.9. IMHO, a number of investors don’t have a big enough account, to have that large amount (for them), to spread their risks over a portfolio of loans. For instance investors with a £10,000 Saving Stream account (and below), may only be risking 5% per each loan, so the maximum that they would invest would be £500. My guess is that there is money still to be invested on the platform, but people don't want to over subscribe into any one new loan. That is clearly understandable. Regarding your observation, “ It seems to me that either SS finds additional underwriters or need quite a lot new lenders, specially if they wat to go on with the large loans in the pipeline.” For PBL085, with the loan figure at £4,500,000 loan and £477,553 still needed to be found. That equates to 10% of the loan still needing to be found. If non of the existing lenders provide additional funds onto the platform and with the current number of Saving Stream investors standing at 6,789. A 10% increase on that current total would be 679, to fund the £477,553 still needed to be found for PBL085. It would appear that 10 new Saving Stream investors are coming to the platform per day, so that would take 68 days. That would be a worse-case scenario. IMHO, this new PBL085 loan will be fully funded in the next seven days, based on my observations of what has previously happened. The number of registed investors, and those actually investing are very different - I haven't spotted any loan with much more than about 1800 people invested in it. This one currently has 1666 so there's scope for a few more to turn up. I did notice thought that the amount available has shot up again this morning...which makes me wonder if there were rather a few unpaid for parts
|
|
|
|
Post by Deleted on Mar 14, 2016 12:12:27 GMT
Keep in mind that we don't know the real situation of PBL85. (what you see now might not be the end of it)
In the past we have seen massive parts slowly coming on the secondary markets from the underwriters or SS themselves.
So it might well be that the money is given to the borrower, but we migth see it prominently for a few weeks on the secondary market.
Most small investors, such as us, have seen it and had a chance to take as much as we wanted.
So it is now open to BH (which might need more time to free some large amount of spare cash) and some new lenders registering on the site every day.
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Mar 14, 2016 12:36:17 GMT
We'll know if there's more to come if/when SS decide to pull the cashback lever again to get it filled ahead of the next new loan(s), eg. the 2 in Watford.
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Mar 14, 2016 17:36:06 GMT
Some on here really are new to SS and don't understand liquidity. One loan redemption and buying on the SM will be like finding chicken teeth.
£500k on the SM is tiny, and very welcome for growth. If New members see no loans, they may be lost forever, so SM loan availability is welcome.
Existing members too will welcome SM availability, when existing loans repay, they can reinvest quick, meaning no dead time.
SS will have capital to fund a shortfall on a loan, so it really isn't a problem if a loan doesn't fill on day 1, and they will manage the pipeline to prevent a massive overhang on the SM.
Give it a week and those complaining about an iliquid SM, will soon be complaining they can't buy on the SM.
|
|
Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
|
Post by Monetus on Mar 14, 2016 18:25:22 GMT
Some on here really are new to SS and don't understand liquidity. One loan redemption and buying on the SM will be like finding chicken teeth. £500k on the SM is tiny, and very welcome for growth. If New members see no loans, they may be lost forever, so SM loan availability is welcome. Existing members too will welcome SM availability, when existing loans repay, they can reinvest quick, meaning no dead time. SS will have capital to fund a shortfall on a loan, so it really isn't a problem if a loan doesn't fill on day 1, and they will manage the pipeline to prevent a massive overhang on the SM. Give it a week and those complaining about an iliquid SM, will soon be complaining they can't buy on the SM. Totally agree with you. For what it's worth I just sold 3 x 10k loan chunks and they all went within 2 minutes. Still plenty of liquidity there for sellers in the vast majority of loans.
|
|
|
|
Post by GSV3MIaC on Mar 14, 2016 20:21:17 GMT
Has anyone kept a log of how much has been sold of PB085 staged SS secondary sales? I have been looking the available queue for a while and it seems there is Always plenty of 85 there and this has been going on for almost a week... This loan was for 4.5 million an coming shortly after another large ones (the 84 scottish estate and the bedfordshire 4 tranches land), so clearly will take time. But is there enough spare capacity in the network to absorb it before (eventual) new repayments this/next week? It seems to me that either SS finds additional underwriters or need quite a lot new lenders, specially if they wat to go on with the large loans in the pipeline. Unsurprisingly SS keep a log. Surprisingly you can access it yourself .. I can't tell you who has been selling, but I can look at (when NOT logged on. .. if you are logged on you just see your own!) savingstream.co.uk/_fragments/Loan/UserLoanParts?loan=184&view=sold and see that £1,232,022.13 of total parts have been bought/sold so far. Not bad for less than a week. looking at view=selling instead of view=sold I can see we are currently munching our way through a nearly-£10k loan part (60% gone) .. eg 258638 09/03/2016 11/03/2016 2 days £9,956.00 £6.55 60.5% which looks suspiciously like a part which didn't get paid for after 48 hours (of which there were lots .. again download =sold and =selling and do your own stats)
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Mar 14, 2016 21:14:18 GMT
This also means if you put up and odd number to sell, say 999.96 instead of 10000, you can track the progress of your part through the queue. Or just sell pretty much anything bar 3 loans and I suspect it will be gone in a day, two at most, at least in current conditions.
no guarantee those conditions will last though.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Mar 14, 2016 21:14:39 GMT
=selling is not showing anything on my computer apart from
"id Start Date End Date age amount interest Percentage Sold"
(I am not logged in.)
|
|
