jcb208
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Post by jcb208 on Oct 31, 2016 20:46:26 GMT
Even though there is £170K on the market the queue is £70k so £100K must belong to Savingstream in one way or another : Thanks for that. I hadn't realised. Perhaps it's worth trying to sell a part of that loan to pay for upcoming pipeline loans. That's what I have done once I realised the queue was £70k put my holding on the market hoping it will go tomorrow with the interest repayments
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twoheads
Member of DD Central
Programming
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Post by twoheads on Dec 27, 2016 11:39:04 GMT
58 days was added to the loan term yesterday.
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micky
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Post by micky on Dec 27, 2016 12:01:29 GMT
Yes, SS update-
3 DAYS AGO
There have been daily exchanges of emails over the last 10 days regarding proposed repayment (including emails from Borrower\'s Solicitor), however at the last minute the Borrower has advised that there has been a change of plan with one of the original investors coming back on board. The Borrower has advised that the other investor who was going to inject funds as an equity partner was much more expensive and the original investor will be providing the remaining funds within the next 4-6 weeks. In view of this we are going to extend the facility for a further 2 months based on the investor injecting circa £500k immediately to cover interest and reduce the loan amount. This will be concluded next week. All existing investors will receive a circa proportional repayment of their investment.
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am
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Post by am on Dec 27, 2016 23:36:11 GMT
Yes, SS update- 3 DAYS AGO There have been daily exchanges of emails over the last 10 days regarding proposed repayment (including emails from Borrower\'s Solicitor), however at the last minute the Borrower has advised that there has been a change of plan with one of the original investors coming back on board. The Borrower has advised that the other investor who was going to inject funds as an equity partner was much more expensive and the original investor will be providing the remaining funds within the next 4-6 weeks. In view of this we are going to extend the facility for a further 2 months based on the investor injecting circa £500k immediately to cover interest and reduce the loan amount. This will be concluded next week. All existing investors will receive a circa proportional repayment of their investment. It was originally advertised as a twelve-month loan, but somehow it changed into a six-month loan. With this second extension it's now up to 11 months, but with substantial capital repayments.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jan 4, 2017 11:15:30 GMT
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SteveT
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Post by SteveT on Jan 4, 2017 11:24:40 GMT
Repaid  And that is savingstream largest ever (bona fide) repayment. Congratulations are in order I think  Only 10% of it repaid by my reckoning (in line with most recent update)
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jan 4, 2017 11:26:34 GMT
Repaid And that is savingstream largest ever (bona fide) repayment. Congratulations are in order I think Only 10% of it repaid by my reckoning (in line with most recent update) Hmm - Strange. Was in repaid loans tab, but now disappeared. Somebody must have pressed the wrong button 
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Liz
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Post by Liz on Jan 4, 2017 11:26:47 GMT
Repaid And that is savingstream largest ever (bona fide) repayment. Congratulations are in order I think Partial repayment. 10% according to the e-mail.
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SteveT
Member of DD Central
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Post by SteveT on Jan 4, 2017 11:28:04 GMT
Only 10% of it repaid by my reckoning (in line with most recent update) Hmm - Strange. Was in repaid loans tab, but now disappeared. Somebody must have pressed the wrong button Old parts were repaid in full and then new parts issued for 90% of the sum held
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Post by grotdog on Jan 4, 2017 11:50:11 GMT
Looking at recent loan news, I find it rather disturbing that SS are referring quite frequently to 'receivers' and 'focussing the mind of borrowers' - care villages appear shaky, the old convent in Gloucs appears very shaky, waukers farm glasgow - a lot of references to possible defaults. These are popping up more and more frequently. Does this indicate that SS have been accepting enthusiastic valuations and doshing out money for properties that have little chance of successful development at the sort of figures that are being enthusiastically touted? I have spare cash at the moment and not so keen to plug it back into new loans if there is evidence of a gung-ho attitude within SS to take on properties with little chance of successful development.. If all of these default, the receivers are going to be making a lot of money, and we the investors losing a lot..
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am
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Post by am on Jan 4, 2017 17:00:25 GMT
Looking at recent loan news, I find it rather disturbing that SS are referring quite frequently to 'receivers' and 'focussing the mind of borrowers' - care villages appear shaky, the old convent in Gloucs appears very shaky, waukers farm glasgow - a lot of references to possible defaults. These are popping up more and more frequently. Does this indicate that SS have been accepting enthusiastic valuations and doshing out money for properties that have little chance of successful development at the sort of figures that are being enthusiastically touted? I have spare cash at the moment and not so keen to plug it back into new loans if there is evidence of a gung-ho attitude within SS to take on properties with little chance of successful development.. If all of these default, the receivers are going to be making a lot of money, and we the investors losing a lot.. At 12% interest rates we should expect a substantial proportion of loans to run into problems.
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Post by charliebrown on Jan 4, 2017 18:00:47 GMT
Looking at recent loan news, I find it rather disturbing that SS are referring quite frequently to 'receivers' and 'focussing the mind of borrowers' - care villages appear shaky, the old convent in Gloucs appears very shaky, waukers farm glasgow - a lot of references to possible defaults. These are popping up more and more frequently. Does this indicate that SS have been accepting enthusiastic valuations and doshing out money for properties that have little chance of successful development at the sort of figures that are being enthusiastically touted? I have spare cash at the moment and not so keen to plug it back into new loans if there is evidence of a gung-ho attitude within SS to take on properties with little chance of successful development.. If all of these default, the receivers are going to be making a lot of money, and we the investors losing a lot.. At 12% interest rates we should expect a substantial proportion of loans to run into problems. ... but, should we expect that we will lose capital? It's the "enthusiastic valuations" comment that worries me most.
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moist
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Post by moist on Jan 4, 2017 18:10:11 GMT
At 12% interest rates we should expect a substantial proportion of loans to run into problems. ... but, should we expect that we will lose capital? It's the "enthusiastic valuations" comment that worries me most. If you rely on SS to do all the work you could well lose capital. Do your own DD and you 'should' drastically reduce that possibility
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Post by charliebrown on Jan 4, 2017 19:32:00 GMT
... but, should we expect that we will lose capital? It's the "enthusiastic valuations" comment that worries me most. If you rely on SS to do all the work you could well lose capital. Do your own DD and you 'should' drastically reduce that possibility Great advice. Part of my DD is to read what others are saying on this forum. Other than that I always read the valuation report and Google the borrower's "profile". Having limited experience in the property market I don't really know what else to do, especially to protect against inaccurate valuations. I was kind of hoping a professional valuation could get within + or - 30% accuracy but we seem to be saying don't bank on that being the case.
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averageguy
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Post by averageguy on Jan 4, 2017 20:17:26 GMT
If you rely on SS to do all the work you could well lose capital. Do your own DD and you 'should' drastically reduce that possibility Great advice. Part of my DD is to read what others are saying on this forum. Other than that I always read the valuation report and Google the borrower's "profile". Having limited experience in the property market I don't really know what else to do, especially to protect against inaccurate valuations. I was kind of hoping a professional valuation could get within + or - 30% accuracy but we seem to be saying don't bank on that being the case. If the economy turns sour then definitely dont rely on a professional valuation being that much comfort imho
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