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Post by brianac on Jun 14, 2016 15:26:13 GMT
Can't seem to find youtube channel link, It's the youtube link next to the facebook, twitter, etc nonsense at the top right of the webpage home page screen. Apparently no webpage can exist without social media links these days. 8>. Thx, how did I miss that ... They're basically talking a version of Buy to Rent. not impressed with their version though. Brian
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on Jun 14, 2016 15:28:52 GMT
Ok Guys
An e-mail just received from SS in regards to the leases...
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Post by lb on Jun 14, 2016 15:29:48 GMT
why is everyone out?
Isn't D****** just a proposed lender/broker that (unsurprisingly) failed to come up with the cash ... ?
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locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
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Post by locutus on Jun 14, 2016 15:30:40 GMT
O***** R*** E***** Ltd looks to be associated with one of the (in)famous Candy Brothers...
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locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
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Post by locutus on Jun 14, 2016 15:33:24 GMT
I'm staying in for PBL110 as the security is solid. No idea about the background of the company who owns it but if it all goes Pete Tong, I'm confident that the security will hold up.
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tomtom
Member of DD Central
Posts: 262
Likes: 39
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Post by tomtom on Jun 14, 2016 15:35:28 GMT
I can not get onto the pipeline page on ss site is this just me or a other people having the same problem?
As I would like to read about these loans.
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locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
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Post by locutus on Jun 14, 2016 15:37:00 GMT
I can not get onto the pipeline page on ss site is this just me or a other people having the same problem? As I would like to read about these loans. Keep trying and you'll get through. Website is very slow today.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on Jun 14, 2016 15:38:12 GMT
I am a little concerned .. this one went from 'under the radar' to 'stage-3, releasing tomorrow', without passing 'go' .. . The Cemetery got hammered here and seems to have been pulled. The reaction to this lot has been even more sceptical so if SS had given us longer to look at it who knows what might have happened (theoretically could still happen?)
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tomtom
Member of DD Central
Posts: 262
Likes: 39
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Post by tomtom on Jun 14, 2016 15:38:33 GMT
I can not get onto the pipeline page on ss site is this just me or a other people having the same problem? As I would like to read about these loans. Keep trying and you'll get through. Website is very slow today. Thanks
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SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
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Post by SteveT on Jun 14, 2016 15:42:04 GMT
Ok Guys An e-mail just received from SS in regards to the leases... Yup, I've just received much the same confirmation by email from SS, having checked this specifically with their solicitors.
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huxs
Member of DD Central
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Post by huxs on Jun 14, 2016 15:44:55 GMT
Ok Guys An e-mail just received from SS in regards to the leases... For me that's all I was really worried about, I would now be up'ing my prefunding numbers but I just don't have the ready cash to fill 9 loans fully. To me with these feel like pretty safe bets especially as SS is taking 12mths interest up from. In addition these will most likely be easy to sell-out in 6 mths time especially if rates start moving down.
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beechside
Member of DD Central
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Post by beechside on Jun 14, 2016 15:45:45 GMT
I find this all a little too scary. Could you explain more clearly what is the perceived problem? I'm sure there are others who could answer this better than I but here goes: 1) There is evidence that a single borrower is clearing the books: CD on borrower2) SS are creating an unbalanced loan book: GS3VMIaC on exposure
3) Valuations are optimistic, given the fall in property prices since April: GS3VMIaC on valuations
4) Valuations for 4 of the properties assume lease extensions: Pepperpot on Leases5) SS not replying to some fairly fundamental questions: Various posts 6) All properties are in London and of the same type: I prefer to diversify more than this 7) SS said they would not release more than 3 loans on any single day 8) SM has lost liquidity (a USP of SS) due to 7-day rule and £12M hitting at once 9) How did they miss out stages 1 and 2 completely? Various posts saying this reduces confidence 10) We haven't been given enough time to do our own DD on the portfolio This is a set of circumstances that has not happened before. My main concern is not these loans but the risk that SS is taking by taking on this particular portfolio. Had they been different borrowers, different regions, different property classes, I would feel differently. Platform exposure is my biggest concern, since they will be claiming interest before the loans themselves. Hope that answers your question in part. . .
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locutus
Member of DD Central
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Post by locutus on Jun 14, 2016 15:46:14 GMT
So now we know the extensions have been granted, that makes some of these look quite decent. Again, the DD on the companies behind this is useful but ultimately it comes down to whether the security is solid. For a few of these, it looks very good to me. Have those that set prefunding to zero changed their minds at all?
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locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
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Post by locutus on Jun 14, 2016 15:49:47 GMT
Could you explain more clearly what is the perceived problem? I'm sure there are others who could answer this better than I but here goes: 1) There is evidence that a single borrower is clearing the books: CD on borrower2) SS are creating an unbalanced loan book: GS3VMIaC on exposure
3) Valuations are optimistic, given the fall in property prices since April: GS3VMIaC on valuations
4) Valuations for 4 of the properties assume lease extensions: Pepperpot on Leases5) SS not replying to some fairly fundamental questions: Various posts 6) All properties are in London and of the same type: I prefer to diversify more than this 7) SS said they would not release more than 3 loans on any single day 8) SM has lost liquidity (a USP of SS) due to 7-day rule and £12M hitting at once 9) How did they miss out stages 1 and 2 completely? Various posts saying this reduces confidence 10) We haven't been given enough time to do our own DD on the portfolio This is a set of circumstances that has not happened before. My main concern is not these loans but the risk that SS is taking by taking on this particular portfolio. Had they been different borrowers, different regions, different property classes, I would feel differently. Platform exposure is my biggest concern, since they will be claiming interest before the loans themselves. Hope that answers your question in part. . . I think sometimes people are guilty of confusing data with information. All of the DD is good work but not all of it is relevant to decision-making and most of it can thus be discarded.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
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Post by ramblin rose on Jun 14, 2016 15:51:30 GMT
Can't see many funding these new loans given the response here. Loads no doubt freed up dollars in prep for the new stuff as well! I think you might be surprised, this board does not represent a large proportion of SS lenders and a lot of people seem desperate to get in on anything they offer, maybe because of their 12% return, not a penny lost boast, the PF, and near perfect track record. So let's say a few hundred get doubts from reading this thread still leaves a lot to participate given the 2.5-3k lending in recent loans And quite likely those of us who are still happy to lend don't have much to say, so you aren't hearing from us. My prefunding is normal on all of these and you can rest assured I won't be alone there. I'm not desperate to lend either - I just keep the portfolio ticking over and steadily growing with the interest. Clearly many of you consider it ill-advised, but it's the way I do things 
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