dan83
Posts: 243 
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Post by dan83 on Mar 18, 2017 20:04:22 GMT
A lot are probably worrying about brexit later this month.
I got my share of investments when loads decided to see up just after the brexit vote.
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Post by d_saver on Mar 18, 2017 20:10:26 GMT
Where are all the much discussed ex building society new investors? Surely they have never had a better chance to get a decent amount invested across a selection of the better loans? I'm not with BM, but have read re cash drag concerns. Does this suggest that BM don't use SS? From BM point of view, it's not quantity in terms of cash they need, but qty in terms of unique loans for diversity. They only allocate 1 or 2% on any loan into an account.
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Post by jackpease on Mar 19, 2017 6:30:58 GMT
I think it will shake out back to 'normal' again - this happened when SS rush-financed a several London flats all at once - this was described by some as a 'mistake' as the secondary market became flooded and at the time it looked like it would never go down but it did. I reckon 2 weeks.
I'd love to hear from some of those saying they were leaving SS to see if they've increased their position in recent days? I see mutterings about lack of availability, valuation reports, communication and lowering interest rates/blocks on new savers growing elsewhere, if you took looked at SS without the legacy feelings of how great it was at the beginning, it'd be a rational choice to chuck money in at the moment.
Jack P
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elliotn
Member of DD Central
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Post by elliotn on Mar 19, 2017 8:31:43 GMT
Do we catch up on interest when the part sells (as long as it does not straddle month end) or do we forego all sales' period interest (and do our bit to buttress PF ahead of its Glouc work-out)?
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elliotn
Member of DD Central
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Post by elliotn on Mar 19, 2017 9:24:41 GMT
Ooof, hope my 15 grand hurry up and sells...come on pbl73!
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ablender
Member of DD Central
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Post by ablender on Mar 19, 2017 9:26:13 GMT
Ooof, hope my 15 grand hurry up and sells...come on pbl73! Isn't that repaying soon anyway? Why throw away your interest?
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elliotn
Member of DD Central
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Post by elliotn on Mar 19, 2017 9:28:57 GMT
Ooof, hope my 15 grand hurry up and sells...come on pbl73! Isn't that repaying soon anyway? Why throw away your interest? I'm selling to get in the queue but as you intimate it should be easy enough to sell once Chelms pays up 
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Liz
Member of DD Central
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Post by Liz on Mar 19, 2017 10:16:10 GMT
Do we catch up on interest when the part sells (as long as it does not straddle month end) or do we forego all sales' period interest (and do our bit to buttress PF ahead of its Glouc work-out)? No, if the loan part is for sale for 50 days, you lose 50 days of interest. The straddling of month end refers to a cancelled loan part, if you cancel the sale before month end, then all interest reverts back to you. If you cancel a sale, on the 1st, you lose the interest.
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sg
Posts: 68
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Post by sg on Mar 19, 2017 10:27:52 GMT
I never knew that, so if I put a par up for sale on the 1st and cancel it on the 28th I'll get the 28 days interest?
What happens if it sells on the 27th, would I get any interest at all?
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Post by trentenders on Mar 19, 2017 10:32:07 GMT
I never knew that, so if I put a par up for sale on the 1st and cancel it on the 28th I'll get the 28 days interest? What happens if it sells on the 27th, would I get any interest at all? No you wouldn't, however you would have sold your load part and got your capital back, which presumably is your number one concern at that point. Cancelling before month-end and then relisting will ensure that you retain your interest, however you'll rejoin at the back of the queue when you come to relist if for sale. For smaller queues this isn't currently a problem, but you might want to think carefully if you are near the front of the queue on a defaulted loan, or one with a 'permanently' large queue.
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sg
Posts: 68
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Post by sg on Mar 19, 2017 10:53:46 GMT
Ok thanks for that. I've been on SS for over 18 months but never knew that (my bad), I suppose mostly because everything I've ever sold has been bought within a minute or two. I've been holding off selling a couple of loan parts until the SM settled down, but it seems I might as well have listed them.
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sg
Posts: 68
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Post by sg on Mar 19, 2017 11:04:35 GMT
Yes, I get that. In my case the loan reached my sell trigger point some days ago now (after the SM filled up) and so I was waiting it out. It's a 12% loan and still +ve days so should sell ok. But is seems it would have been better tactics to put the loan up for sale at that point so that when (if) PBL073 repays I would be closer to the front of the queue.
At the end of the month if it had not sold I would need to make a decision based on queue size as to whether to cancel or carry over and hope the interest payments would make it sell.
Am i right in that ?
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elliotn
Member of DD Central
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Post by elliotn on Mar 19, 2017 11:21:08 GMT
Perefectly sound reasoning, I think I would re-list any sizeable loan part even if the SM was in Dire Straits (why give it away unless you thought there was platform jeapordy). Interest run will help and atm Chelms & J** 2 big reasons to harvest interest.
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Post by Deleted on Mar 19, 2017 11:28:36 GMT
Errrm. Maybe I'm missing something here (it wouldn't be the first time) but isn't all the cash in PBL073 is going to be moved to the new DFL019 by saving stream so it won't be the case that there is loads of cash swilling around looking for a home. In fact, DFL019 is so huge that it's likely to hang around for quite a while soaking up cash, causing the SM to be even more slow and full. That's not to say that the SM will not ever return to 'normal' DFL019 is £6.77m PBL035 is £3.46m, all going into DFL019 PBL073 is £4.58m, thats enough to cover all of the remaining DFL019 and leave £1m+ change
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 19, 2017 11:30:10 GMT
Errrm. Maybe I'm missing something here (it wouldn't be the first time) but isn't all the cash in PBL073 is going to be moved to the new DFL019 by saving stream so it won't be the case that there is loads of cash swilling around looking for a home. In fact, DFL019 is so huge that it's likely to hang around for quite a while soaking up cash, causing the SM to be even more slow and full. That's not to say that the SM will not ever return to 'normal' Remember that PBL035 will be repaid the same time DFL019 goes live, and PBL035 investors are being rolled into DFL019. As such, only £3,310,496 will be hitting the market, and the PBL073 repayment will swallow all of that with 1.2m left over Edit - Crossed with @eurasian69
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