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Post by ladywhitenap on Apr 18, 2016 16:25:41 GMT
In recent updates we have had teases of negotiating extensions as well as negotiations for repayment now it is down to zero days and "in legals" but for what??
Repayment or extension??
Spill the beans please SS
LW
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Liz
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Post by Liz on Apr 18, 2016 17:27:58 GMT
In recent updates we have had teases of negotiating extensions as well as negotiations for repayment now it is down to zero days and "in legals" but for what?? Repayment or extension?? Spill the beans please
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Post by brianac on Apr 18, 2016 20:49:10 GMT
In recent updates we have had teases of negotiating extensions as well as negotiations for repayment now it is down to zero days and "in legals" but for what?? Repayment or extension?? Spill the beans please SS LW late payments with weak excuses. Beginning to sound like Flaming Computers. (instead of SS that is) Brian
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homes119
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Post by homes119 on Apr 19, 2016 10:11:25 GMT
When in doubt, sell  |
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Post by ladywhitenap on Apr 19, 2016 11:23:01 GMT
In recent updates we have had teases of negotiating extensions as well as negotiations for repayment now it is down to zero days and "in legals" but for what?? Repayment or extension?? Spill the beans please SS LW late payments with weak excuses. Beginning to sound like Flaming Computers. (instead of SS that is) Brian Has there been a history of late payments of this loan? Anyway my holding sold in an instant just now so hopefully I've made someone happy! LW
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Post by doorway on Apr 19, 2016 11:29:14 GMT
When in doubt, sell What happens to the rubbish ? I see a small amount of PBL 026 was traded today and yesterday. What happens parts of any old overdue loan ? Why is not the SM flooded ? FS has a rule banning any sale 30 days before due end date. (OK, so on SS we do not have a due by date). Does SS hoover up the bits and pieces to keep the the shop front looking pretty ? Should we be worried that this process might suddenly stop ?
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adrianc
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Post by adrianc on Apr 19, 2016 11:38:46 GMT
What happens to the rubbish ? If those owning "the rubbish" want to sell it, and nobody wants to buy it, then it remains unsold. Because there's as many people buying as there are selling. More, mostly. Sometimes, fewer. That Damned Superyacht and That Damned Bungalow always used to be available, until they paid back. No. I'm not even sure it's in their interest to have zero availability for new investors. You have my full permission to worry, if you so wish. As far as 26 goes, if you just look at the single most recent update, you will see... What does it mean? <shrug> But if you look at ALL the updates, you will see... ...which looks to me like the borrower was exploring the option of extending, but decided not to, and is repaying as soon as the legals are completed for whatever repayment route they're going for - sale or different finance - complete. I'd be expecting a "Repaying tomorrow" message at more-or-less any stage, unless there's another update.
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Post by ladywhitenap on Apr 19, 2016 11:41:59 GMT
I see that a purchaser bought £0.19 of PBL 026 which might support the "hoover up and keep tidy" theory but that same buyer bought £900 (of mine) just now but did not pick up £300 that I offered minutes earlier.
A week or so ago when the SM was fairly stagnant (compare to usual) over the FY boundary, I did not see evidence of any tidying up.
I presume the issue of external bots has been dealt with now although nothing to stop SS having their own Mrs Mop Bot.
LW
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Post by Deleted on Apr 19, 2016 11:55:51 GMT
The secondary market on SS is very active.
People buy and sell all sort of loans, including lates.
A few months ago we had active trading even for the 'default' loan, when the borrower did not pay back and before SS sold it on the market and repaid everyone.
It is very common to see exchanges for part which are overunning (negative remaining terms), so I honestly don't understand the surprise for PBL26
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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 Apr 19, 2016 11:57:17 GMT
late payments with weak excuses. Beginning to sound like Flaming Computers. (instead of SS that is) Brian Has there been a history of late payments of this loan? Anyway my holding sold in an instant just now so hopefully I've made someone happy! LW No, but then why would there be? 1. Interest retained up front for loan term 2. Borrower would have paid interest up front for extension 3. Lendy is technically the borrower so would cover the interest itself if required
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adrianc
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Post by adrianc on Apr 19, 2016 12:03:48 GMT
3. Lendy is technically the borrower so would cover the interest itself if required Good point. This is one of the ones still on the old terms. It's about 50/50 now, looking at the loan list.
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mikes1531
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Post by mikes1531 on Apr 19, 2016 12:46:18 GMT
I'm afraid this is a perfect example of a missed opportunity. savingstream have a Q&A feature on their website whereby people can ask them questions and -- to paraphrase SS because I can't find their exact words right now -- if the question was of general interest they could leave the Q and the A visible on the loan's page for all to see and learn from. On 14/Apr, I asked... And on 15/Apr -- in an email directly to me -- Liam (SS) replied... So in response to adrianc ... ...which looks to me like the borrower was exploring the option of extending, but decided not to, and is repaying as soon as the legals are completed for whatever repayment route they're going for - sale or different finance - complete. I'd be expecting a "Repaying tomorrow" message at more-or-less any stage, unless there's another update. ...it would appear that it was SS that pulled the plug on the extension rather than the borrower, so we might expect it to be a while longer before repayment happens. If this isn't a good example of the sort of Q&A that should be visible to all, I don't know what is. |
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locutus
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Post by locutus on Apr 19, 2016 13:06:05 GMT
Agreed. I wish they'd also make use of the Q&A feature.
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Liz
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Post by Liz on Jun 29, 2016 20:28:28 GMT
Guide price £200k on Rightmove?  (Haven't been reading threads lately; sorry if this is old hat.) I hope that isn't right! As the loan is for 350K Edit: I thought it was going to auction.
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goopy
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Post by goopy on Jun 29, 2016 21:01:43 GMT
Guide price £200k on Rightmove? (Haven't been reading threads lately; sorry if this is old hat.) You sure it's on Rightmove? I can't find it...
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