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Post by Deleted on Oct 20, 2016 13:59:17 GMT
If we are having an afternoon temper thing, can I ask what you mean by "is it"?  EDIT: I'm sorry I have an image of a bunch of middle aged boys and girls sitting all over the UK typing this stuff to each other. Chill guys. |
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Oct 20, 2016 14:19:32 GMT
The subsequent two words after "rude". ... Ribena? me? Middle aged - you can be my friend. |
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ablender
Member of DD Central
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Post by ablender on Oct 20, 2016 16:23:52 GMT
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Oct 20, 2016 17:18:49 GMT
Maybe - I don't suppose my great grand-nephew young RumpPumpy was given the expensive stuff.  |
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Post by ohjames on Oct 20, 2016 18:36:08 GMT
Savingstream now have 26 negative day loans (27 tomorrow) plus a default on the books, surely they need to get some repayments in soon to aid cash flow unless interest is being paid and not been updated on the loan page. I think a lot of people will start to think twice about future investments If all they see a high percentage of negative loans listed for sale.I know at the moment they are easy to sell (god knows why I wouldn't touch them due to the higher default risk) but this may well change This for me is the most concerning aspect of SS at the moment. I know timing is uncertain in this business but the lack of updates re. the actual situation on many of these negative days loans + the recent illiquidity(?) of the negative day loans on the SM is worrying. The SM is working well for sellers of part loans with positive 30 days or more, but seems much less liquid for less than 30 days and especially the negative ones. Where is the best place to find info on SS's loan book & overdue/default loans?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Oct 20, 2016 18:37:55 GMT
This for me is the most concerning aspect of SS at the moment. I know timing is uncertain in this business but the lack of updates re. the actual situation on many of these negative days loans + the recent illiquidity(?) of the negative day loans on the SM is worrying. The SM is working well for sellers of part loans with positive 30 days or more, but seems much less liquid for less than 30 days and especially the negative ones. Where is the best place to find info on SS's loan book & overdue/default loans? On the SS website maybe ? Failing that look here & here 
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mnm
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Post by mnm on Oct 21, 2016 9:26:03 GMT
I guess the lower loan rates are SS's way of making sure they DO stay in business... Supply and demand should balance each other. At the moment, there is more supply of money than they can meet with demand from borrowers. The supply is not going away. So meet it with more demand = more business = more profit. But there are not enough putative borrowers looking for money at the price we're used to wanting, unless they lower their due diligence barriers. But there ARE, apparently, plenty of borrowers who will pay a lower price - but that's balanced by a safer loan. Remember, defaults are to be expected - 7% return after defaults is often given as a sensible, sustainable long-term target - and we're WAY ahead of the curve at the moment. Or is it a prudent way of growing their business in a sensible, sustainable way? 0.4%/mo - ~5%/yr - is not going to get much supply of money from their current investor base, is it? So not much point in getting that business in. Or is that business going to be met by Lendy's other sources of money? Is it a marketing come-on headline designed to get business in at twice that rate? . I know about defaults I got some already. Im learning here. 7% is a big drop from 12%(?). It sounds to low? Is this correct?
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adrianc
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Post by adrianc on Oct 21, 2016 9:42:58 GMT
adrianc . I know about defaults I got some already. Im learning here. 7% is a big drop from 12%(?). It sounds to low? Is this correct? As for the defaults (plural), then if you've been around for long enough to have been in PBL7, you'll know that didn't lose anybody a penny. PBL20 is still ongoing. There may be a hit, but it's vanishingly unlikely to be 100%. That's... it (so far) despite the return shouting "HIGH RISK"... The law of averages says we're waaaaay up. Now, it's entirely possible that Lendy really truly are Gods amongst men. Or...?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Oct 21, 2016 9:58:27 GMT
7% is a big drop from 12%(?). It sounds to low? Is this correct? 7% is supposedly net after losses. This is as good a figure as any for the average across all lenders across all platforms across all loans, but for any individual it will be anything from 12% down to a very nasty negative figure.
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Post by dualinvestor on Oct 21, 2016 11:48:07 GMT
adrianc . I know about defaults I got some already. Im learning here. 7% is a big drop from 12%(?). It sounds to low? Is this correct? As for the defaults (plural), then if you've been around for long enough to have been in PBL7, you'll know that didn't lose anybody a penny. PBL20 is still ongoing. There may be a hit, but it's vanishingly unlikely to be 100%. That's... it (so far) despite the return shouting "HIGH RISK"... The law of averages says we're waaaaay up. Now, it's entirely possible that Lendy really truly are Gods amongst men. Or...? Depends what you mean by default, the dictionary definition, the legal definition, savingstream definition for borrowers, savingstream definition for lenders. It is probably only the last one that there have only been two.
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Post by supernumerary on Oct 21, 2016 11:50:09 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!! RE: "I always say a little prayer when I invest my money with anyone!!" I think I will try and do the same too...
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adrianc
Member of DD Central
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Post by adrianc on Oct 21, 2016 11:50:58 GMT
As for the defaults (plural), then if you've been around for long enough to have been in PBL7, you'll know that didn't lose anybody a penny. PBL20 is still ongoing. There may be a hit, but it's vanishingly unlikely to be 100%. That's... it (so far) despite the return shouting "HIGH RISK"... The law of averages says we're waaaaay up. Now, it's entirely possible that Lendy really truly are Gods amongst men. Or...? Depends what you mean by default, the dictionary definition, the legal definition, savingstream definition for borrowers, savingstream definition for lenders. It is probably only the last one that there have only been two. There's only one that's relevant.
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Post by dualinvestor on Oct 21, 2016 11:52:04 GMT
Depends what you mean by default, the dictionary definition, the legal definition, savingstream definition for borrowers, savingstream definition for lenders. It is probably only the last one that there have only been two. There's only one that's relevant. If you say so, but MRDA.
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moist
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Post by moist on Oct 21, 2016 14:45:18 GMT
We are very happy thank you and are looking forward to continued and sustainable growth for the long term. Our staff are bedding in well into the offices (we have been here a year and bought it with cash so we don't have rent to pay). We are very lean and don't need deals to fund the business so your comments about panic etc seem to be somewhat misplaced. The market is very competitive and we want to offer a whole market product rather than just limit ourselves to certain niche segments. We see it as a maturing process and is a natural progression for a 4 year old company in this fast paced market. Given the reaction which we are seeing on pre-funding behind the scenes, there are plenty of investors who will continue to trust and support us and appreciate what we are doing. As you can see from our recently audited accounts (we didn't need to audit, we just thought you would all appreciate it), we are very financially viable even accounting for loan provisioning. This year has been at least twice as successful as last and our cash reserves are very reassuring. Yes there are things we could do to improve, we actively seek opinion on that and number one on our priority list is customer support. We now have a dedicated support department so investors should see a gradual improvement in that arena in the short term. Are the support department currently on holiday?........
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Liz
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Post by Liz on Oct 21, 2016 15:15:59 GMT
We are very happy thank you and are looking forward to continued and sustainable growth for the long term. Our staff are bedding in well into the offices (we have been here a year and bought it with cash so we don't have rent to pay). We are very lean and don't need deals to fund the business so your comments about panic etc seem to be somewhat misplaced. The market is very competitive and we want to offer a whole market product rather than just limit ourselves to certain niche segments. We see it as a maturing process and is a natural progression for a 4 year old company in this fast paced market. Given the reaction which we are seeing on pre-funding behind the scenes, there are plenty of investors who will continue to trust and support us and appreciate what we are doing. As you can see from our recently audited accounts (we didn't need to audit, we just thought you would all appreciate it), we are very financially viable even accounting for loan provisioning. This year has been at least twice as successful as last and our cash reserves are very reassuring. Yes there are things we could do to improve, we actively seek opinion on that and number one on our priority list is customer support. We now have a dedicated support department so investors should see a gradual improvement in that arena in the short term. Are the support department currently on holiday?........ Are you having an issue? Or general lack of updates concerning you.
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