mack
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Post by mack on Jun 24, 2016 6:00:43 GMT
Not much effect I think. A few weeks with no huge loans it will shrink especially when the interest comes in. Any changes to the market will take a few years to materialise if there is any change and downside even then is limited with decent LTVs.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jun 24, 2016 6:08:08 GMT
Approx £3m on the SM not including pebble 20. It will be interesting to see if we vote to remain and SM reduces quickly or we vote to leave and it increases. Seems Brexit has had an effect There was a small spike just after the result was confirmed by the BBC, and ever since then the SM has been growing throughout the night (as I type it is at 4m)... Hope nobody needs their money in a hurry.
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mack
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Post by mack on Jun 24, 2016 6:54:41 GMT
The assets are still there not like the stock market. Most of the funds are the new loans and these were always going to be hard to fill as thought. If these loans had not come on there would have been little effect on the SM. Saving Stream needs to slow down and allow investors time to catch up.
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boundah
Member of DD Central
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Post by boundah on Jun 24, 2016 9:41:29 GMT
Not much effect I think. A few weeks with no huge loans it will shrink especially when the interest comes in. Any changes to the market will take a few years to materialise if there is any change and downside even then is limited with decent LTVs. Big chunks of the recent London loans new onto the SM, including the rarer houses. I think quite a few people will steer clear of London, which probably has the most Brexit downside imho.
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Post by GSV3MIaC on Jun 24, 2016 9:54:30 GMT
Much/most of which is SS themselves releasing loan parts which were not paid for in time. Looks like a good (selective) buying window to me.
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Jun 24, 2016 10:57:34 GMT
The interest goes to the provision fund until it hits 2% of the loan book, then SS make some extra profit. Feast and Famine is the most likely scenario for SM. New loans and old ones repaying will have a mismatch. Just the joy of investments!  SS have now responded to my follow-up e-mail, they reckon that interest payments (on loans that are up for sale) are used to top up the provision fund and they 'will keep topping the provision up beyond 2%'
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Liz
Member of DD Central
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Post by Liz on Jun 24, 2016 16:34:19 GMT
The interest goes to the provision fund until it hits 2% of the loan book, then SS make some extra profit. Feast and Famine is the most likely scenario for SM. New loans and old ones repaying will have a mismatch. Just the joy of investments! SS have now responded to my follow-up e-mail, they reckon that interest payments (on loans that are up for sale) are used to top up the provision fund and they 'will keep topping the provision up beyond 2%' I put a loan part up for sale and cancelled it a few days later, but I'm sure I got the interest back from when it was listed for sale. Maybe I made this up  I have had 2 hours sleep and am still elated.
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Post by Deleted on Jun 27, 2016 0:43:50 GMT
The interest goes to the provision fund until it hits 2% of the loan book, then SS make some extra profit. Feast and Famine is the most likely scenario for SM. New loans and old ones repaying will have a mismatch. Just the joy of investments! SS have now responded to my follow-up e-mail, they reckon that interest payments (on loans that are up for sale) are used to top up the provision fund and they 'will keep topping the provision up beyond 2%' That's good to know 
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sl75
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Post by sl75 on Jun 28, 2016 13:52:51 GMT
I put a loan part up for sale and cancelled it a few days later, but I'm sure I got the interest back from when it was listed for sale. Maybe I made this up I have had 2 hours sleep and am still elated. - when you cancel the sale of a loan part, the part is allocated a new number and the accrued interest up until the date you put the part up for sale is re-added to the newly allocated loan part number - or perhaps you meant something else? In my experience, that's not correct - the loan part retains its existing number, but has the "end date" blanked out. However, the "existing number" may be one that was created at the moment you put the loan part up for sale, if you elected to sell anything less than the entire amount of a loan part (it becomes irreversibly split at that point, and remains a separate loan part even if you cancel the sale).
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Post by GSV3MIaC on Jun 28, 2016 13:57:09 GMT
That's what I've seen too - selling part of a loan part and then changing your mind is an easy way to generate 'shrapnel' all on your own. 8>.
There is no easy way to glue parts together (unless you can sell and then re-buy them all, without any other buyer, or any other parts, getting in the mix)
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sl75
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Post by sl75 on Jun 28, 2016 15:19:56 GMT
In my experience, that's not correct - the loan part retains its existing number, but has the "end date" blanked out. After further investigation, I suspect you may be correct, and that all parts I have sold have been issued a new loan part number due to the fact that I always split larger parts down into multiples - I'll be able to confirm later after cancelling one that was left as a whole (if indeed it hasn't sold beforehand). Although I'm not sure where you're seeing " the end date blanked" out? Do you mean, when for sale, to the buyer, or after cancellation? After cancellation... in particular any further statement entries for it (such as payment of interest) will show a blank end date (there were some other URLs on which blank end dates could be observed, but now I think of it, those weren't ones we were INTENDED to see). The "live loans" page (and probably most other readily-available pages where you can see the loan part) won't even include the "end date" column, because all loan parts that appear on those pages have a blank end date, meaning there's no point... but it's certainly "blanked out" behind the scenes.
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I have had 2 hours sleep and am still elated.
