agent69
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Post by agent69 on Jun 13, 2016 17:35:01 GMT
Maybe we might get one of the fabled repayments to add into the mix ? Plus some spare cash coming across from the AC drought?
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agent69
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Post by agent69 on Jun 13, 2016 17:41:47 GMT
Seems the SS servers are creaking again under the weight of these new loans. Just picked up a few bits on the SM and the old girl is definitely struggling.
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oldgrumpy
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Post by oldgrumpy on Jun 13, 2016 17:43:05 GMT
Wot a coincidence - Wellesley 18 month loan time up was yesterday and all they offered me was 3.75%. Over to SS!  |
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Liz
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Post by Liz on Jun 13, 2016 17:51:09 GMT
SM busy. Be careful not to prefund too much, liquidity on most loans might not be there.
I'm also slightly concerned about brexit and over inflated London property.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jun 13, 2016 18:02:17 GMT
SM busy. Be careful not to prefund too much, liquidity on most loans might not be there. I'm also slightly concerned about brexit and over inflated London property. I have this vision of our capital city full of bouncy castles with faulty pressure relief valves. 
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mickj
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Post by mickj on Jun 13, 2016 18:06:51 GMT
It's like treacle just now, pages slow to load or not loading.......... or 'Internal Server Error' and logged out and away..........edit: not logged out, just the pipeline page keeps giving me the 500 internal error, have managed a few pennies into the odd loan but picking street signs now - ho hum.
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Post by mrclondon on Jun 13, 2016 18:10:11 GMT
SM busy. Be careful not to prefund too much, liquidity on most loans might not be there. I'm also slightly concerned about brexit and over inflated London property. Agree with the first point.
I also agree at this stage we have to assume there is a real possibility of brexit irrespective of personal views.
Where I beg to differ is in any short term impact of brexit on these loans. London property is not a homogenous lump, and in particular the segregation of areas and who lives in them is quite stark. As an example a significant proportion of Mayfair residents are non-European nationals working in the diplomatic missions, and (particularly Americans) in the hedge fund and high end antique sector which are largely Mayfair based. Also popular with those from the Arabic peninsula. I would expect brexit to have little effect in Mayfair as the number of non-diplomatic Europeans living there is quite low. The medium term dynamic there is more the extent to which the move of the American Embassy to south of the river affects the Mayfair market.
The major medium term brexit effect on the London market will be felt in the few areas favoured by the French expat community.
Properties such as these are rarely owner occupied. They are generally held by property funds as rentals.
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Post by ladywhitenap on Jun 13, 2016 18:16:35 GMT
I'm glad I did my clear out of "close to the end" loans over the weekend!
LW
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bigfoot12
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Post by bigfoot12 on Jun 13, 2016 19:00:41 GMT
I'm also slightly concerned about brexit and over inflated London property. Where I beg to differ is in any short term impact of brexit on these loans. London property is not a homogenous lump, and in particular the segregation of areas and who lives in them is quite stark. As an example a significant proportion of Mayfair residents are non-European nationals working in the diplomatic missions, and (particularly Americans) in the hedge fund and high end antique sector which are largely Mayfair based. Also popular with those from the Arabic peninsula. I would expect brexit to have little effect in Mayfair as the number of non-diplomatic Europeans living there is quite low. The medium term dynamic there is more the extent to which the move of the American Embassy to south of the river affects the Mayfair market. In addition to mrclondon 's points above consider what might happen to sterling if we exit. Many experts say it will fall sharply. And so London property will start to look cheap to your average international type. London property might well fall in price, but probably not quickly if Sterling falls sharply.
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adrianc
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Post by adrianc on Jun 13, 2016 21:07:30 GMT
The more I think about this, the more I think this is really going to cause some chaos and dischuffedness. I've brought my prefund for each loan down to a third of my default. What if I'd not been about today, and been able to? I'd potentially be on the hook for a LOT more money than I'd want to put on these loans, with no way to sell 'em on without paying for 'em first. My default prefund is 150% of my normal hold-and-keep cap. It's all one borrower... That's a LOT of potential exposure. And, of course, savingstream have previously promised faithfully they'll never launch more than two or three loans on any one day. Well, that's out the window... <wince> With bells on. I don't think I'll be terribly surprised if we don't see all nine go live tomorrow. And, if we do, I think I'd like to be reading SS's customer service emails for a week or so... |
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Post by westonkevRS on Jun 14, 2016 6:13:53 GMT
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Post by geraldine1210 on Jun 14, 2016 6:20:05 GMT
9 loans on one day just does not work. One or two works beautifully. Everything keeps moving.
With people getting ready for nine loans you just end up with s glut on the SM.
I know you can top up the normally hard to get, but very difficult if you want to sell something.
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mikeh
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Post by mikeh on Jun 14, 2016 7:11:38 GMT
9 loans on one day just does not work. One or two works beautifully. Everything keeps moving. With people getting ready for nine loans you just end up with s glut on the SM. I know you can top up the normally hard to get, but very difficult if you want to sell something. Agreed. I seem to remember at one time there was a 3 loans per day maximum "guarantee". Was this dropped?
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SteveT
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Post by SteveT on Jun 14, 2016 7:37:04 GMT
If SS are seriously considering offering loans at rates below 12%, the flow of new loans may be expected to increase considerably; multiple loan launches could become the norm. However, these days there's really no point setting a default pre-fund level above zero unless you're unable to access emails / internet for a few days. As for the SM getting clogged up, we may have to accept that buying any more than you're comfortable holding to term is a risky game (which is probably a good thing, all things considered).
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Post by GSV3MIaC on Jun 14, 2016 8:05:14 GMT
The flow of people actually taking them up may not match the loan flow though (I wouldn't touch any of this bunch under 12%, and am dubious about some even at that rate). I don't mind the SM getting clogged, I can top up some of the older worthwhile loans, back when 70% LTV actually looked a bit more like 70%.
I do mind that their website can't apparently cope with the traffic .. 'adjust your prefunding please' in the email is all very well, but if you can't actually GET to the prefund page (OK, I did e-v-e-n-t-u-a-l-l-y) it isn't much use.
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