P2P: Saving Stream (AKA SavingStream)

grey_gym_sock

masonic wrote: »

We're soon going to need a change of thread title jamesd, if that's possible. FCA is not allowing Lendy to use "SavingStream" any more.

wow, the FCA are getting tougher ... i hope i haven't been wasting my time by forming companies called FSCS Protected Ltd, Guaranteed Returns Ltd, and Safe As Houses (Which Never Fall, As N. E. Fule Kno) Ltd (... btw, if anybody's interested in offers from my companies, check your spam folder! )

jamesd

masonic wrote: »

We're soon going to need a change of thread title jamesd, if that's possible. FCA is not allowing Lendy to use "SavingStream" any more.

Right, big FCA no-no to use the word saving for investments. I'll edit the subject once all becomes clear about the new naming.

jamesd

bigadaj wrote: »

The only large default I'm aware of was the garden centre, and that was repaid in full though whether that as all from equity in the loan I'm not clear on.

The security didn't come remotely close to covering it. There was a big payout from the protection fund. The new owners paid a fair price. One of the loans with big difference between real current value and speculative future value.

taylornj

Savings Stream is now called Lendy.

Had an e-mail about change over and savingstream website is redicted to lendy site.

AnubisHorus

Let's get down to the nitty gritty and never mind speculation.
CAN ANYBODY CONFIRM THEY HAVE LOST ANY MONEY ON Lendy/Saving Stream
Please give specific details
Thanks

JohnRo

[B]Asset Details        % Book       Asset value        Loan Value    % pa     LTV[/B]
  
In Default            5.18%    £13,490,000.00     £9,071,500.00   12.00%  67.25%

Interest Accruing     8.44%    £22,780,000.00    £14,777,000.00   12.00%  64.87%

Interest Serviced     6.81%    £24,735,000.00    £11,934,107.00   12.00%  48.25%

Interest on Account  79.57%   £355,207,433.00   £139,392,121.00   11.65%  39.24%

Loan Book Total     100.00%   £416,212,433.00   £175,174,728.00   11.72%  42.09%

Daz2009

AnubisHorus wrote: »

Let's get down to the nitty gritty and never mind speculation.
CAN ANYBODY CONFIRM THEY HAVE LOST ANY MONEY ON Lendy/Saving Stream
Please give specific details
Thanks

Nobody has...so far !

masonic

AnubisHorus wrote: »

Let's get down to the nitty gritty and never mind speculation.
CAN ANYBODY CONFIRM THEY HAVE LOST ANY MONEY ON Lendy/Saving Stream
Please give specific details
Thanks

When people start losing money, or even interest, then those currently invested will just have to ride things out because the chances of selling sub-par loans on the secondary market will be non-existent. Hence the interest in trying to gauge what is on the horizon with respect to defaults and escape early.

As Daz2009 says, nobody has lost anything yet. The last default resulted in a very large shortfall, but the provision fund was used to cover capital and interest. The current status of the provision fund is unknown - Lendy has removed the stats from its website and has evaded questions as to how much is left in it.

economic

masonic wrote: »

When people start losing money, or even interest, then those currently invested will just have to ride things out because the chances of selling sub-par loans on the secondary market will be non-existent. Hence the interest in trying to gauge what is on the horizon with respect to defaults and escape early.

As Daz2009 says, nobody has lost anything yet. The last default resulted in a very large shortfall, but the provision fund was used to cover capital and interest. The current status of the provision fund is unknown - Lendy has removed the stats from its website and has evaded questions as to how much is left in it.

doesnt sound good. luckily i have only £100 in there.

AnubisHorus

I"ve over 300K invested over vairious platforms. from 12%-21.9% Instead of focusing on "losses" (tax deductable now) Just spread your investments thinly currently over 2000 different loans. Count any defaults as just reduction in interest. With Banks paying 0.1%-3% interest you should make between 25-100 times more interest stop getting obsessed with maximum returns. Stock markets can drop 5% in a day and not recover.for years Only losses over the 30% LTV buffer need to be covered. Unless RIAS surveyrs are incompetant (For which the are insured) returns should be good. My elderly mother is in a care home £3500 a month balance from pension ALL paid by intreest on her Savings without loss of capital. Just think spread as wide as possible and enjoy the returns.