smee
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Post by smee on Apr 28, 2014 18:52:24 GMT
New property loan available (with cashback)
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Post by davee39 on Apr 28, 2014 19:00:48 GMT
And filling quite fast.
Property move by SS is looking ever more interesting.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Apr 28, 2014 21:54:40 GMT
And filling quite fast. Property move by SS is looking ever more interesting. yup! 35% taken up already. I suppose the very soon to end cashback offer has a small additive effect too
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mikes1531
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Post by mikes1531 on Apr 29, 2014 2:43:04 GMT
And filling quite fast. Property move by SS is looking ever more interesting. yup! 35% taken up already. I suppose the very soon to end cashback offer has a small additive effect too I'm somewhat surprised that so many people are willing to lend before the valuation report is available, especially for a second charge loan. If I'm interpreting the info correctly, the cashback offer is good for all pre-drawdown investments. As a result, it might be available for a little while, since AFAIK second charges usually require the approval of the first charge holder, and that seems unlikely to happen with lightning speed.
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smee
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Post by smee on Apr 29, 2014 7:51:25 GMT
I see it is on Rightmove, situated in Benson, Wallingford, Oxford.
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star dust
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Post by star dust on Apr 29, 2014 10:18:41 GMT
I am toe dipping in SS, so new to their loans and systems. Can anyone advise if their website will change when this is actually drawn down, at the moment it is still indicating the 0.5% pre-drawdown bonus? How quickly have the other ones drawn down, I'm still researching on this one and will have Qs for SS, so not sure how quickly I will feel able to decide. I am also wondering if these property loans are skewing their business and creating extra risk - any views?
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Post by savingstream on Apr 29, 2014 10:56:55 GMT
Hi star dust, welcome to Saving Stream. The Property Bridging Loan 003 drawdown date is expected to be next week. We hope to have the valuation document available within the next 2 days. The 0.5% cashback offer will be removed once the loan goes live.
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Post by yorkshireman on Apr 29, 2014 11:02:56 GMT
Is this the loan titled “Property Bridging Loan 003” on the SS website?
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star dust
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Post by star dust on Apr 29, 2014 14:29:23 GMT
Hi star dust, welcome to Saving Stream. The Property Bridging Loan 003 drawdown date is expected to be next week. We hope to have the valuation document available within the next 2 days. The 0.5% cashback offer will be removed once the loan goes live. Thanks for the information.
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mikes1531
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Post by mikes1531 on Apr 29, 2014 16:45:08 GMT
I see it is on Rightmove, situated in Benson, Wallingford, Oxford. Good detective work! Now the only question is whether or not SS have done the same thing for this loan as they've done for their boat loans, which is to show a photo of a similar item rather than the actual item that the loan is being secured against!
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Post by marek63 on Apr 30, 2014 8:44:28 GMT
According to SS customer service one of the partners has actually visited this property and kicked the tyres so to speak. So it exists which is always a good start. I have dipped a reasonable sized foot in this one and am now happily invested in four saving stream loans - two boats and two properties. I would be happier to invest more significant amounts when their wind-down policies and overall setup becomes clear. At present I am using SS but treating it as a single business investment rather than as a platform, since platform security remains unproven. Hence keeping it to below 5% of overall funds in P2P. Hopefully as they develop and grow they will build out some more demonstrable compliance and fallback processes.
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star dust
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Post by star dust on Apr 30, 2014 11:15:26 GMT
I see it is on Rightmove, situated in Benson, Wallingford, Oxford. Good detective work! Now the only question is whether or not SS have done the same thing for this loan as they've done for their boat loans, which is to show a photo of a similar item rather than the actual item that the loan is being secured against! Well, I hope it is this one cause after further research I emailed some Qs to SS, and may completely misinterpret any answers if it isn't actually this property!! I haven't had a response from SS yet, and I hope I get it before drawdown or the loan fills completely - wouldn't want to miss the cash-back. Perhaps I should have asked directly whether it was the property I thought as the full address is given on Rightmove.
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star dust
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Post by star dust on May 1, 2014 14:24:51 GMT
Qs asked and answered. Impressed with fullness of responses. Toe now dipped, and may put a bigger one in on site of valuation - due out tomorrow apparently.
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Post by savingstream on May 7, 2014 12:07:13 GMT
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Post by mrclondon on May 27, 2014 20:33:15 GMT
Now less than £1000 remaining of no. 3
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