andyb
Posts: 69 
Likes: 36
|
Post by andyb on Feb 3, 2017 22:17:35 GMT
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Feb 3, 2017 23:06:24 GMT
Minor point but SS lowest rate is now 8%, dont know if it had hit this low when you wrote the review.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 3, 2017 23:17:09 GMT
Nice review; enjoyed reading it (take the following with a pinch of salt - just observations!)  Your review seems a tad... positive! I know these blogs are of a personal opinion, and I respect that, but I'm wondering why you never touched on some of the recent issues, such as comms? Also, be careful not to buy into the headline information on SS (and any P2P Platform) - " lending amounts do not exceed 70% of the open market value of the asset" - this is not true in at least one PBL case, and definitely not the case for most DFLs (LTVs). "Recently though Saving Stream have been adding a few lower interest bearing loans to the market which start at 9%, it is said that these loans are a little safer so do not command as much interest." I'm not sure that SS have actually said that these loans are safer, and if we take the LTV, some are on par (risk wise) with the 12% rate loans. It is a generally accepted opinion that SS offers loans at a lower rate according to the ease they will fill, as opposed to the risk they carry. I do love those compound calculator sites - makes feel all warm & fuzzy to think how much richer I will be in 20 years time... however... I think some defaults, falling rates and market conditions may alter the real world result somewhat!
|
|
andyb
Posts: 69
Likes: 36
|
Post by andyb on Feb 3, 2017 23:49:26 GMT
Thanks guys, I have now amended the 9% interest point and CD I plan to write another blog post in the near future about the good, the bad and the plain ugly parts of each of the platforms I use thanks very much to both both of you for your input it is much appreciated regards andy |
|
andyb
Posts: 69
Likes: 36
|
Post by andyb on Feb 4, 2017 10:02:56 GMT
Hi I haven't read it yet, just what is on here - but loans now start at a miserly 8% so it needs a tweak. Hi and thanks it has been amended
|
|
vmail
Open image in a new tab.
Posts: 457
Likes: 217
|
Post by vmail on Feb 4, 2017 10:29:35 GMT
The lower interest rate means higher chunck for SS.
|
|
dan83
Posts: 243
Likes: 84
|
Post by dan83 on Feb 4, 2017 10:32:10 GMT
Before long, they will be making more of our money, then we are.
|
|
andyb
Posts: 69
Likes: 36
|
Post by andyb on Feb 4, 2017 15:57:17 GMT
Yeh it is quite worrying really isn't it.
regards
andy
|
|
mason
Member of DD Central
Posts: 666
Likes: 641
|
Post by mason on Feb 4, 2017 18:02:49 GMT
Yeh it is quite worrying really isn't it. It may be worrying, but it is not the most worrying development in recent weeks. The way things are going they'll need the extra income to replenish the provision fund and to cover the interest they are paying out of their own pocket when the borrower is in arrears or in administration, but they decide not to put the loan in default (doing so would tip off lenders, and SS wouldn't want lenders knowing too much about the loans in which they invest).
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Feb 4, 2017 19:11:22 GMT
I agree. It is absolutely clear that we are not being given information that is vital to our investment decisions. And remember, that provision fund is discretionary. And yes, it is going to be tested. SS are starting to worry me.
|
|
james
Posts: 2,205
Likes: 955
|
Post by james on Feb 4, 2017 23:01:59 GMT
Any critique or comments more than welcome Great is one thing Saving Stream aren't. Worth paying attention to the issues with what seems to be the least trustworthy UK P2P platform I've looked at. If you want trustworthy and 12% you might take a look at Ablrate and MoneyThing. At the former you can even find decent secondary market availability at above 15% on one loan at the moment, 1000054 and a thousand or so on another at over 14%, 1000058. How do 15.157% and 14.207% look in your compound interest calculations?* * Apologies if those vanish before you get there.
|
|
vmail
Open image in a new tab.
Posts: 457
Likes: 217
|
Post by vmail on Feb 5, 2017 12:39:00 GMT
I don't like Ablrate SM style, it's too much like FS.
|
|
james
Posts: 2,205
Likes: 955
|
Post by james on Feb 5, 2017 12:53:55 GMT
I don't like Ablrate SM style, it's too much like FS. Thanks, since I like Ablrates's great features it's good to know that FS is similar. Some of the tax saving aspects of FS seem to possibly go further than Ablrate's because of the way FS seems to let you potentially convert even more taxable income into capital gains.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Feb 5, 2017 13:22:05 GMT
I don't like Ablrate SM style, it's too much like FS. I do not like the way ABL's SM is either. The only difference I see from FS is that at least on ABL interest is paid monthly and with the level of investment I do, the tax will not add up to much especially if I take care of buying within a week after each payment.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Feb 5, 2017 13:23:18 GMT
I don't like Ablrate SM style, it's too much like FS. Thanks, since I like Ablrates's great features it's good to know that FS is similar. Some of the tax saving aspects of FS seem to possibly go further than Ablrate's because of the way FS seems to let you potentially convert even more taxable income into capital gains. You seem to be taking advantage of how FS's SM works. Good luck to you. It definitely does not work for me.
|
|
