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Post by supernumerary on Oct 18, 2016 19:51:46 GMT
Now that SS is having to chase loans - and in the longer term investors - much harder, I am wondering whether they regret expanding to bigger offices and taking on lots of extra staff. Are they at risk of going under? And is this why nush just sold his whole £110K portfolio? (p.s. I already tried to create this thread, but it didn't seem to work....sorry if I ended up creating it twice.) wow did i do that, now i need a lay down. i can dream of having a £110k portfolio in P2P. or do we have a different nush Hello nush, this is the first post of yours that I have read... 
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poppyland
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Post by poppyland on Oct 18, 2016 19:54:58 GMT
Now that SS is having to chase loans - and in the longer term investors - much harder, I am wondering whether they regret expanding to bigger offices and taking on lots of extra staff. Are they at risk of going under? And is this why nush just sold his whole £110K portfolio? (p.s. I already tried to create this thread, but it didn't seem to work....sorry if I ended up creating it twice.) wow did i do that, now i need a lay down. i can dream of having a £110k portfolio in P2P. or do we have a different nush So sorry nush... I made a mistake. I wish I had a £110k portfolio too. On another note, it was really nice to get such a comprehensive reply from SS, even if they sounded a bit annoyed.
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nush
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Post by nush on Oct 18, 2016 19:58:21 GMT
wow did i do that, now i need a lay down. i can dream of having a £110k portfolio in P2P. or do we have a different nush Hello nush, this is the first post of yours that I have read... possibly my last post if i have just sold £110k of something i never owned. im off somewhere warm before i get locked up somewhere cold lol
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nush
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Post by nush on Oct 18, 2016 19:59:56 GMT
wow did i do that, now i need a lay down. i can dream of having a £110k portfolio in P2P. or do we have a different nush So sorry nush... I made a mistake. I wish I had a £110k portfolio too. On another note, it was really nice to get such a comprehensive reply from SS, even if they sounded a bit annoyed. no problem i should be away long before the sirens start
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Post by supernumerary on Oct 18, 2016 20:08:34 GMT
Hello nush, this is the first post of yours that I have read... possibly my last post if i have just sold £110k of something i never owned. im off somewhere warm before i get locked up somewhere cold lol Hello nush, Spend that money wisely, that £110k of something you never owned… Where are you planning on going in your dreams?  This whole thread and comments thereafter has been generated mainly as a consequence of reports you selling a £110k portfolio in Saving Stream, that you never had in the first place…  Look at all the trouble this has caused, with a statement from Saving Stream…
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mikes1531
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Post by mikes1531 on Oct 19, 2016 2:31:39 GMT
Now that SS is having to chase loans - and in the longer term investors - much harder, I am wondering whether they regret expanding to bigger offices and taking on lots of extra staff. Are they at risk of going under? With any luck, some of the extra staff will be experts in dealing with overdue loans. And that should reduce the risk of platform failure. In view of the number of loans with negative remaining terms, ISTM that's an area where SS could use some expertise. If they don't already have it, I hope they're in the process of getting it.
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mikes1531
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Post by mikes1531 on Oct 19, 2016 2:38:36 GMT
...but it's kind of worrying if they are now offering borrowers a rate of 0.4% a month as someone suggested. There's no question in my mind of "if" -- see the section called "Our loans at a glance" on the Lendy Finance homepage -- though we haven't a clue whether any borrowers actually get that rate, or whether it's just marketing hype.
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Post by Deleted on Oct 19, 2016 7:48:51 GMT
Now that SS is having to chase loans - and in the longer term investors - much harder, I am wondering whether they regret expanding to bigger offices and taking on lots of extra staff. Are they at risk of going under? And is this why nush just sold his whole £110K portfolio? (p.s. I already tried to create this thread, but it didn't seem to work....sorry if I ended up creating it twice.) I don't understand if this reasoning is suggested from a real investor or a 10£ lending boy. a) Who is this nush/rigger? And why would a sale of 110k (for undisclosed reasons) from a single person be of any significance on a 130+ million loan portfolio? b) I have sold large amounts in the past month and find the SM liquidity spectacular here. Selling does not mean you feel the Platform is about to die... It just means you see a better deal elsewhere (might be a stock market unique position, a different loan company offering particular bonuses etc) and you are fast in using at best your money. c) The tax returns recently shown by SS are from a very very very solid company, with large reserves and very enviable profitability (look at FC or even RS and they are just dreaming such levels of efficiency) d) SS has taken 'lots of extra staff'? It looks to me they are the skin and bones of P2P. They really were litterally 2 people (+ some external consultants) up to last year and are now only a few more. Look at FC (now really having a large overhead of inefficient people) to be worried... certainly not SS. The risks in bridging loans are ALWAYS coming almost exclusively from wrong valuations. Concentrate on that aspect, make prudent choices in prudent scenarios, manage operations decently and you will have success.
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Post by Deleted on Oct 19, 2016 10:07:24 GMT
It is interesting that in the last few months we have had a slew of "this platform is going to crash, head for the hills" views over a number of platforms. These are often backed up with opinions (strongly held opinions I'm sure) but with very little, or in fact, any evidence.
Now I understand the internet is a place of paranoia and risky schemes, but generally this site seems to operate at a professional level pretty well.
Businesses go bust. Businesses go bust because they run out of cash. P2P portals have to have mechanisms to seperate out the lender's money from the business money. There are obvious places to read up on this subject. I recommend we do so.
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Post by chrisuk on Oct 19, 2016 10:07:58 GMT
I am a relatively small investor (£5000) in SS and so far I have been very pleased indeed with SS and the returns I have received. Like a few others on this forum I am rather concerned with the number of overdue loans, and it does deter me from investing more into SS. I know there may be good and valid reasons for a loan to be overdue, it's just the sheer number of them that make me nervous!
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Post by dodgeydave on Oct 19, 2016 12:13:05 GMT
We are all here for one thing and one thing only, a decent return on our hard earned cash. There are to many doom merchants , not a big enough return, not the right loan, Saving Stream have a bigger office. If you are not happy please walk away and invest elsewhere as some of us are willing to take a risk. Over the last year I have had in excess of 4 figures on my investment here. Amount of money lost none. Please Please find some good things to say. Interesting that 4 out of your total 6 positive? posts on Saving Stream threads read as follows:-
"Have a large amount invested but after today's farce I will slowly be removing all of it unless some simple solutions are implemented, which have already been discussed so will not go on. Come on Saving Stream sort yourself out?"
"This poll is a waste of time, who in their right mind would invest for less"
"Must admit forgot about the ones who would invest for less while 12% is achievable, I agree if the rate decreases it would lead to another discussion"
"He is quick just put £1,200 up on SM and within 5 secs all gone. How is that possible? Its good that someone buys everything but wow if its not a bot then someone needs to get a life."
You never know - the doom merchants you mention, in highlighting unstated risks could quite easily save you (and others) a 4 or 5 figured loss next year. This is a generalisation and not aimed at anyone in particular. But it seems their is a lot of people with very few posts. Just gushing with enthusiasm .
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Post by Harland Kearney on Oct 19, 2016 13:30:51 GMT
It is nice to see that SS are quickly responding to issues and conversations on this board, my only nimble is their needs to be more updates and clarity. I think as the loan book grows, the number of late loans is going to increase on these type of bridging loans. Anyway, be interesting to see how SS handles these late loans over the next few weeks.
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oldgrumpy
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Post by oldgrumpy on Oct 19, 2016 13:33:51 GMT
It is nice to see that SS are quickly responding to issues and conversations on this board, my only nimble is their needs to be more updates and clarity. I think as the loan book grows, the number of late loans is going to increase on these type of bridging loans. Anyway, be interesting to see how SS handles these late loans over the next few weeks. My only nimble is white and sliced. 
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Post by chrisuk on Oct 19, 2016 13:39:33 GMT
Don't be too harsh with the 'doom merchants'. If, like me, some of them rely on their savings for an income and are victims of the Government's economic policies I can understand them being ultra cautious. Probably not a bad thing to be in the current climate. I always say a little prayer when I invest my money with anyone!!
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poppyland
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Post by poppyland on Oct 19, 2016 13:47:34 GMT
This whole thread and comments thereafter has been generated mainly as a consequence of reports you selling a £110k portfolio in Saving Stream, that you never had in the first place… Look at all the trouble this has caused, with a statement from Saving Stream… Well, I was wrong about nush, but someone called rigid did sell £110k all at once earlier this week, and yes, that's not a big deal in the overall scheme of things, but it certainly represents a change from the "all loans are fully funded" situation that we've been seeing for weeks now. Coming just a couple of days after the announcement of lower rates, it seems fair enough to wonder if there is a connection. Companies often expand shortly before they go under - expansion can be the right decision, but does carry risks. I thought it was nice to read SS's robust defence of their platform, and to hear them deny that there are any serious issues. As they themselves admit, they are not great at keeping us up to date on what is going on, and so it's always good to hear from them on this forum.
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