cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
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Post by cooling_dude on Jan 9, 2017 16:58:59 GMT
Note: Monitoring Surveyor Reports (sometimes called a Quantity Surveyor Report) is what SS get to monitor build works and costs as a development progresses. Mostly required for DFLs but also for some PBLssavingstream I'm posting here because I've emailed you to request for the Monitoring Surveyor Reports, but have had no response. I am at a loss... I'm also at a loss why you just don't just simply upload them to the loan page? Quite frankly, I believe that us investors (whose money is at risk here) have the right to see the reports to see how our money has been utilised. Afterall, it was you, savingstream, that said ( HERE) that the QS report would be published to SS investors... I simply can't see any reason not to publish the reports...
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Post by supernumerary on Jan 9, 2017 17:21:29 GMT
I simply can't see any reason not to publish the reports... Hello DUDE. Happy New Year to you. DUDE, you seem to be in excellent 'DUDE-diligence form'...  BTW, just like you I don't work for Saving Stream, but these Quantity Surveyor Reports, is it for one particular loan or a basket of loans that you are 'DUDE-diligencing' on? 
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ablender
Member of DD Central
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Post by ablender on Jan 9, 2017 17:22:15 GMT
Yes Definitely. Not publishing them equates to holding data required by lenders for DD. FCA take note.
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MarkT
Member of DD Central
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Post by MarkT on Jan 9, 2017 17:28:58 GMT
I think that publishing the reports is the easiest and most transparent way to do this but, as an alternative, surely some Earned Value Analysis (EVA) could be forthcoming.
I can't imagine any project of any size these days doesn't apply some sort of EVA where cost and schedule performance indices (CPI, SPI) indicate the progress of a project "at a glance", then. if further commentary is needed that can be added in summary form.
At the moment investing in DFLs is pretty much an act of faith.
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Steerpike
Member of DD Central
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Post by Steerpike on Jan 9, 2017 17:34:24 GMT
The only site that I can think of that does this is Assetz Capital.
Should Saving Stream do likewise? I suppose it depends on what is meant by "should".
If it means because:
1) it would be useful to investors, then the answer surely is yes.
2) they said that they would, then although it is always nice when platforms do as they said they would, we all know that it doesn't always work out that way.
3) they would otherwise be flouting FCA regulations, then I suspect that the answer is No.
Assuming in this case that "should" means a combination of 1 & 2, I have voted "yes please".
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Jan 9, 2017 17:48:49 GMT
The only site that I can think of that does this is Assetz Capital. Should Saving Stream do likewise? I suppose it depends on what is meant by "should". If it means because: 1) it would be useful to investors, then the answer surely is yes. 2) they said that they would, then although it is always nice when platforms do as they said they would, we all know that it doesn't always work out that way. 3) they would otherwise be flouting FCA regulations, then I suspect that the answer is No. Assuming in this case that "should" means a combination of 1 & 2, I have voted "yes please". I couldn't get all that in one poll question! I am, of course, talking as an investor to investors. So 1&2 is applicable
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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 Jan 9, 2017 18:18:57 GMT
The only site that I can think of that does this is Assetz Capital. Moneything usually provides a QS/MS or updated valuation opinion for each drawdown
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gurberly
Member of DD Central
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Post by gurberly on Jan 9, 2017 18:57:34 GMT
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twoheads
Member of DD Central
Programming
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Post by twoheads on Jan 9, 2017 21:21:29 GMT
gurberly... Brilliant... I was never a fan of smileys/emoticons or whatever they're called.
Now I am.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Jan 11, 2017 10:47:35 GMT
Shameless bump, with comment, to keep (what I consider) important issue in viewIn the event you can't see the current numbers savingstream , 97% of members have voted 'YES' I really do think this is important... and easy to resolve Any comment savingstream would be appreciated
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Post by chrisj on Jan 18, 2017 7:50:31 GMT
Just straight up ignoring people is what hurts SS reputation the most.
Likewise the "recent updates" section is over 3 weeks old, id love to be a fly on the wall for a day in SS world.
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elliotn
Member of DD Central
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Post by elliotn on Jan 18, 2017 10:38:06 GMT
Presumably these are not a million miles away in format from confidential valuation reports we are allowed access to, possibly with less legalese without the same extent of RICS valuers covering their arses. savingstream Paul64 et al, could you please make this key resource available as you continue to push in to development loans so that lenders can continue to support this growth area, as other platforms manage that we also invest in. |
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MarkT
Member of DD Central
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Post by MarkT on Jan 18, 2017 10:50:29 GMT
Presumably these are not a million miles away in format from confidential valuation reports we are allowed access to, possibly with less legalese without the same extent of RICS valuers covering their arses. savingstream Paul64 et al, could you please make this key resource available as you continue to push in to development loans so that lenders can continue to support this growth area, as other platforms manage that we also invest in. Or explain why you cannot.
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Post by 101proof on Jan 18, 2017 14:09:17 GMT
Presumably these are not a million miles away in format from confidential valuation reports we are allowed access to, possibly with less legalese without the same extent of RICS valuers covering their arses. savingstream Paul64 et al, could you please make this key resource available as you continue to push in to development loans so that lenders can continue to support this growth area, as other platforms manage that we also invest in. Or explain why you cannot. Hopefully he's not writing a story about it
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twoheads
Member of DD Central
Programming
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Post by twoheads on Jan 18, 2017 17:18:36 GMT
Hi Paul64 & savingstream ,
Please read this post made by savingstream in March last year relating to questions about DFL001.
In particular section 2 (reproduced here):
2. What method will be used to decide how much of the total loan is released at each stage?
Each tranche will be for £500,000 and will be payable to the developer on receipt of a satisfactory QS report. We will release this to SS investors for review before drawing down upon it.
Thanks to dodgeydave for pointing this out.
ADDITION: Thanks cooling_dude for also pointing this out in the OP and slapping me on the wrist for not reading it properly!
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<-- Where I should be
<-- I'm here
<-- compiled into a report for the financial regulators to use as a case study
