elsee
Member of DD Central
Retired:D
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Post by elsee on Oct 31, 2016 10:21:05 GMT
Looking for a home for my interest and some of this popped up briefly. There have been no updates since it went live so I "Googled" it and got this. I can't see any planning permission for any units, or am I missing something?
<mod redacted link as it identifies an asset on which a loan is secured>
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
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Post by cooling_dude on Oct 31, 2016 10:52:15 GMT
Looking for a home for my interest and some of this popped up briefly. There have been no updates since it went live so I "Googled" it and got this. I can't see any planning permission for any units, or am I missing something? <mod redacted link as it identifies an asset on which a loan is secured> The PP is in the VR; you can google the reference numbers to find the details online. However, it was only Prior Notification; the full PP was withdrawn because there is a restrictive covenant (up to March 2018) in pace* which restricts what can be done with the property. As such, and as SS have confirmed the property is currently only worth £3,275,000 which means that the current LTV is 94%* *Unless this situation has changed since the loan went live (I note when the loan went live, the overview stated that our borrower client was close to having these removed within the next 2/3 months". - I will have a quick dig and edit if I find anything
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on Oct 31, 2016 11:57:55 GMT
Many thanks for the info CD. Very pleased to see you back again. Best wishes, SXLR
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Post by wickedxuk on Dec 30, 2016 9:00:04 GMT
Has this loan been extended at any point? The website states 97 days remaining but on my spread sheet using a formula with my original purchase date and days indicated at that time, my sheet calculates 79 days remaining. Have I missed something? My loan part was purchased on the 22/10/16 and had 148 days remaining (19/3/16 end date) giving 79 days from today. Nothing to indicate a change on the updates tab. savingstream |
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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
Posts: 11,330
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Post by ilmoro on Dec 30, 2016 9:59:40 GMT
Has this loan been extended at any point? The website states 97 days remaining but on my spread sheet using a formula with my original purchase date and days indicated at that time, my sheet calculates 79 days remaining. Have I missed something? My loan part was purchased on the 22/10/16 and had 148 days remaining (19/3/16 end date) giving 79 days from today. Nothing to indicate a change on the updates tab. savingstream SS have realigned end dates so they match the actual run time for the loan to the borrower rather than when the loan launched on the platform, in this case the loan didnt drawdown until the 5/4 so the actual term has an extra 18 days.
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Post by wickedxuk on Dec 30, 2016 10:38:08 GMT
Has this loan been extended at any point? The website states 97 days remaining but on my spread sheet using a formula with my original purchase date and days indicated at that time, my sheet calculates 79 days remaining. Have I missed something? My loan part was purchased on the 22/10/16 and had 148 days remaining (19/3/16 end date) giving 79 days from today. Nothing to indicate a change on the updates tab. savingstream SS have realigned end dates so they match the actual run time for the loan to the borrower rather than when the loan launched on the platform, in this case the loan didnt drawdown until the 5/4 so the actual term has an extra 18 days. Great, thank you!
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twoheads
Member of DD Central
Programming
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Post by twoheads on Apr 6, 2017 9:36:25 GMT
At 10:31 - remaining term has just gone negative with the associated status change of IOA --> SBL.
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elsee
Member of DD Central
Retired:D
Posts: 201
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Post by elsee on Apr 6, 2017 10:59:25 GMT
Kind of at odds with the latest update from 31/03/17? " We have agreed a one month extension whilst the borrower progresses with their refinance." Presumably the borrower hasn't stumped up the interest to cover that one month extension. Which I guess means Lendy's three-month extension (aka 'Supported By Lendy') has instead kicked in.  Probably shouldn't make light off the situation, that's interest on another £3M not being serviced by the Borrower. That affects the platform, which ultimately affects the Lenders. Do they always bother changing the dates though.
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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
Posts: 11,330
Likes: 11,549
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Post by ilmoro on Apr 6, 2017 11:14:07 GMT
Kind of at odds with the latest update from 31/03/17? " We have agreed a one month extension whilst the borrower progresses with their refinance." Presumably the borrower hasn't stumped up the interest to cover that one month extension. Which I guess means Lendy's three-month extension (aka 'Supported By Lendy') has instead kicked in. Probably shouldn't make light off the situation, that's interest on another £3M not being serviced by the Borrower. That affects the platform, which ultimately affects the Lenders. Do they always bother changing the dates though. Eventually if its a specific length, not if its just borrower covering like a few loans (though even those did get big bumps eventually). PBL101/102 got changed to reflect extension but only after sufficient time elapsed for them to remain negative after the extension. Even with the new system there is still room for some vagueness.
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twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
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Post by twoheads on Apr 6, 2017 11:38:49 GMT
Do they always bother changing the dates though. Eventually if its a specific length, not if its just borrower covering like a few loans (though even those did get big bumps eventually). PBL101/102 got changed to reflect extension but only after sufficient time elapsed for them to remain negative after the extension. Even with the new system there is still room for some vagueness. 'Eventually' turns out to be now - it's just been given its 30 day extension (at 12:36), term changed from -1 to +29, status back to IOA.
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mikes1531
Member of DD Central
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Post by mikes1531 on Apr 6, 2017 16:42:34 GMT
Eventually if its a specific length, not if its just borrower covering like a few loans (though even those did get big bumps eventually). PBL101/102 got changed to reflect extension but only after sufficient time elapsed for them to remain negative after the extension. Even with the new system there is still room for some vagueness. 'Eventually' turns out to be now - it's just been given its 30 day extension (at 12:36), term changed from -1 to +29, status back to IOA. The critical question is whether they really received another month's worth of interest from the borrower. We'll never find out, of course.
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Liz
Member of DD Central
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Post by Liz on Apr 6, 2017 17:16:50 GMT
'Eventually' turns out to be now - it's just been given its 30 day extension (at 12:36), term changed from -1 to +29, status back to IOA. The critical question is whether they really received another month's worth of interest from the borrower. We'll never find out, of course. If the interest is no longer Serviced By Lendy, then the borrower must have paid interest otherwise the status is lying. Maybe we will get confirmation in the next update.
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twoheads
Member of DD Central
Programming
Posts: 1,089
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Post by twoheads on May 10, 2017 14:42:50 GMT
Repaid at 15:38.
That's £3m back in investor's pockets.
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vmail
Open image in a new tab.
Posts: 457
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Post by vmail on May 10, 2017 14:47:41 GMT
To clear the £2,799,019 on the SM?
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GeorgeT
Member of DD Central
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Post by GeorgeT on May 10, 2017 15:00:39 GMT
Repaid at 15:38. That's £3m back in investor's pockets. The best news of the month. I have just come in from doing some gardening, I have been putting in my bedding plants in my patio pots and troughs and while waiting for the kettle to boil I thought I would check the forum and lo and behold you have made me a happy man.
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