boble
Posts: 150 
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Post by boble on Aug 12, 2016 9:05:02 GMT
Value of loans currently in negative days - £3,349,000
(excluding default loan)
Value of loans with under 40 days remaining - £31,026,000
Value of loan in default - £1,700,000
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Post by uncletone on Aug 12, 2016 9:17:07 GMT
Just to balance the picture: Value of loans with over 40 days remaining - £213,013,491.
You seem to imply that loans that have not yet reached their end date are a reason for concern?
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fp
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Post by fp on Aug 12, 2016 9:29:34 GMT
Value of loans currently in negative days - £3,349,000 (excluding default loan) Value of loans with under 40 days remaining - £31,026,000 Value of loan in default - £1,700,000 Sure? I make it a lot more than that
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Liz
Member of DD Central
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Post by Liz on Aug 12, 2016 9:39:16 GMT
Just to balance the picture: Value of loans with over 40 days remaining - £213,013,491. You seem to imply that loans that have not yet reached their end date are a reason for concern? That figure must be too high.
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Post by dualinvestor on Aug 12, 2016 9:45:03 GMT
Just to balance the picture: Value of loans with over 40 days remaining - £213,013,491. You seem to imply that loans that have not yet reached their end date are a reason for concern? That figure must be too high. It is the figure as a total of theassets on the live loans page, the amount loaned is shown as c.£127.7 million but varies from the home page which states c.£176million, Edit There is a diference in terminology, the home page total is "Amount loaned with us", the live loans is simply an arithmetic total of all loans
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Post by martin44 on Aug 12, 2016 9:47:06 GMT
I think maybe some confusion between asset values and loan values.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Aug 12, 2016 10:13:31 GMT
I think maybe some confusion between asset values and loan values. Yes, and also between live loans and all time loans?
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boble
Posts: 150
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Post by boble on Aug 12, 2016 11:22:58 GMT
Apologies. I seem to have got myself confused (not difficult).
Revised numbers:
Value of loans currently in negative days - £7,124,000
(excluding default loan)
Value of loans with under 40 days remaining - £31,276,000
Value of loan in default - £1,700,000
liz, yes, I am implying that it could be a reason for concern, however, others may take an entirely different view.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Aug 12, 2016 11:28:33 GMT
Some repayments would certainly give me some reassurance.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 12, 2016 11:34:47 GMT
I would like all loans more than 60 days overdue to be repaid, and all other overdue loans to display far more frequent and explanatory information about the progress being made to resolve the delays. Then I wouldn't be grumpy.  Mmm! Thinking about food ...  |
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Post by Butch Cassidy on Aug 12, 2016 11:52:33 GMT
Remember time remaining or overdue is largely irrelevant, especially with bridging loans, what really is important is that either ongoing interest is being serviced &/or LTV remains both realistic & sufficient to repay the outstanding capital, even at short notice/forced selling price, obviously preferably both. Each person has to form their own opinion on the professional valuations provided to support LTV but crowd DD really does help, (@cooling_dude take a bow!)
It would be nice to have more detailed updates & communication but I would much rather SS get on with the day job & provide more quality lending opportunities & recover any defaulted loans, as it is certain that there will be more to come, that is to be expected with this type of lending but I repeat if LTV remains both realistic & sufficient to repay the outstanding capital that shouldn't create too many problems. Timing is only an arbitrary measure, ultimate repayment is much more important.
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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
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Post by ilmoro on Aug 12, 2016 12:11:36 GMT
Indeed, SS could eliminate this thread merely by changing the time remaining on the site. It has always been a potentially random figure, not necessarily linked or consistenly based on any specific fact (interest cover, loan term, extensions). Entirely dependent on individidual lenders what confidence they place in it. Shouldnt be the case but it is.
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Post by buttchopf23 on Aug 12, 2016 12:28:53 GMT
Indeed, SS could eliminate this thread merely by changing the time remaining on the site. It has always been a potentially random figure, not necessarily linked or consistenly based on any specific fact (interest cover, loan term, extensions). Entirely dependent on individidual lenders what confidence they place in it. Shouldnt be the case but it is. for me too, this is not understandable, it would take a minor effort with a big result
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Post by buttchopf23 on Aug 12, 2016 13:02:39 GMT
this is so true. I know a lot of People who avoid loans with remaining days less then 100..
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Post by mrclondon on Aug 12, 2016 13:03:01 GMT
As Butch Cassidy said " time remaining or overdue is largely irrelevant, especially with bridging loans". However given the basic SS model of retained interest at drawdown, I would like to see SS treating the days remaining (+ve / -ve ) as a strict interpretation of the number of days interest cover retained by SS but not yet accrued to lenders (+ve days) or the number of days of uncovered accrued interest to lenders (-ve days). So when a borrower of a loan beyond the notional term makes a payment to cover interest the negative days is reduced accordingly. The current situation with the website not showing borrower cashflows to SS is ambiguous as SS could be covering the monthly interest themselves. The change eralier this year for accrued but unpaid intrest on defaulted loans was prompted by consideration of FCA requirements, but didn't really go far enough IMO. The issue in my mind is one of transparency rather than any immediate more serious concerns. |
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