P2P: Saving Stream (AKA SavingStream)

masonic

jamesd wrote: »

TOPICS: Lendy (formerly Saving Stream)

I can't take credit for the acronym, but I prefer Lendy (originally Saving Stream).

Oh, and in other news, the steel-framed office block valued at £2,870,000, on the market for £1,250,000, but purchased two and a half years ago for £875,000, has not received any offers according to the latest update.

Empor

I've not put any new money into Lendy for a while now, and reading some of the comments here has made me nervous so I thought I'd try and reduce my holding.

However my "negative balance" is quite high. I'm not too sure how this works. I thought that prefunding that isn't taken up is cancelled within 48 hours. But what I think is happening now is that any of my sales on the SM are being allocated to other investments to reduce the negative balance, so effectively I can't reduce my exposure easily. There are far cleverer people on here than I am... does this sound correct? Or is there anything I can do? (I did change my prefunding allocation to zero several weeks ago).

masonic

Empor wrote: »

However my "negative balance" is quite high. I'm not too sure how this works. I thought that prefunding that isn't taken up is cancelled within 48 hours. But what I think is happening now is that any of my sales on the SM are being allocated to other investments to reduce the negative balance, so effectively I can't reduce my exposure easily. There are far cleverer people on here than I am... does this sound correct? Or is there anything I can do? (I did change my prefunding allocation to zero several weeks ago).

You are supposed to make a transaction to clear any negative balance within 24 hours. There is no guarantee Lendy will cancel loan parts you have bought. So you'd be best off selling enough to clear the negative balance if you don't want to transfer money in. But if you do transfer money in to make your balance positive, you'll be able to sell the recently purchased loan parts, which you would be unable to sell while you are in negative balance.

JohnRo

[B]Asset Details        % Book       Asset value        Loan Value    % pa     LTV[/B]
  
In Default            4.92%    £13,490,000.00     £9,071,500.00   12.00%  67.25%

Interest Accruing     8.02%    £22,780,000.00    £14,777,000.00   12.00%  64.87%

Interest Serviced     3.49%    £12,755,000.00     £6,426,107.00   12.00%  50.38%

Interest on Account  83.57%   £386,052,083.00   £153,999,140.00   11.65%  39.89%

Loan Book Total     100.00%   £435,077,083.00   £184,273,747.00   11.69%  42.35%

mr._prude

The Trouble loan amount in £s is roughly the same. It's not really improving, they are just adding more loans. Would really need to see this value come down before I would reinvest with Lend tbh.

JohnRo

[B]Asset Details        % Book       Asset value        Loan Value    % pa     LTV[/B]
  
In Default            6.19%    £16,360,000.00    £11,071,500.00   12.00%  67.67%

Interest Accruing     7.14%    £19,910,000.00    £12,777,000.00   12.00%  64.17%

Interest Serviced     3.40%    £11,770,000.00     £6,079,750.00   11.43%  51.65%

Interest on Account  83.27%   £381,232,083.00   £149,000,351.00   11.61%  39.08%

Loan Book Total     100.00%   £429,272,083.00   £178,928,601.00   11.66%  41.68%

JohnRo

Things look to have stabilised at SS, I will only post new updates if there's a big change in the ratios. Not sure it's serving much purpose but at least it gives some historic perspective.

I'm tempted to start using SS again.

[B]Asset Details        % Book       Asset value        Loan Value    % pa     LTV[/B]
  
In Default            5.98%    £15,910,000.00    £10,756,500.00   12.00%  67.61%

Interest Accruing     7.74%    £21,695,000.00    £13,937,250.00   12.00%  64.24%

Interest Serviced     1.97%     £7,230,000.00     £3,537,500.00   11.73%  48.93%

Interest on Account  84.31%   £380,817,083.00   £151,720,806.00   11.59%  39.84%

Loan Book Total     100.00%   £425,652,083.00   £179,952,056.00   11.65%  42.28%

bigadaj

JohnRo wrote: »

Things look to have stabilised at SS, I will only post new updates if there's a big change in the ratios. Not sure it's serving much purpose but at least it gives some historic perspective.

I'm tempted to start using SS again.

[B]Asset Details        % Book       Asset value        Loan Value    % pa     LTV[/B]
  
In Default            5.98%    £15,910,000.00    £10,756,500.00   12.00%  67.61%

Interest Accruing     7.74%    £21,695,000.00    £13,937,250.00   12.00%  64.24%

Interest Serviced     1.97%     £7,230,000.00     £3,537,500.00   11.73%  48.93%

Interest on Account  84.31%   £380,817,083.00   £151,720,806.00   11.59%  39.84%

Loan Book Total     100.00%   £425,652,083.00   £179,952,056.00   11.65%  42.28%

I've been keeping an eye on p2pindeoendentforum and as you say things appear to have improved. Some large repayments and the defaults reduced and potentially improved.

Personally happy with Moneything, Ablrate and collateral, and most of those platforms are scaling up with apparently better due diligence. The flip side at Lendy is that whilst deal flows keep on coming the valuation reports are often questionable, the newer loans are starting to head below 10% in several cases and the risk that the outstanding defaults could leave to platform failure.

JohnRo

[B]Asset Details        % Book       Asset value        Loan Value    % pa     LTV[/B]
  
In Default           12.26%    £35,440,000.00    £23,267,500.00   12.00%  65.65%

Interest Accruing     1.93%     £7,520,000.00     £3,669,750.00   12.00%  48.80%

Interest Serviced     9.47%    £26,390,000.00    £17,958,890.00   11.76%  68.05%

Interest on Account  76.34%   £380,001,583.00   £144,828,185.00   11.55%  38.11%

Loan Book Total     100.00%   £449,351,583.00   £189,724,325.00   11.63%  42.22%

economic

JohnRo wrote: »

[B]Asset Details        % Book       Asset value        Loan Value    % pa     LTV[/B]
  
In Default           12.26%    £35,440,000.00    £23,267,500.00   12.00%  65.65%

Interest Accruing     1.93%     £7,520,000.00     £3,669,750.00   12.00%  48.80%

Interest Serviced     9.47%    £26,390,000.00    £17,958,890.00   11.76%  68.05%

Interest on Account  76.34%   £380,001,583.00   £144,828,185.00   11.55%  38.11%

Loan Book Total     100.00%   £449,351,583.00   £189,724,325.00   11.63%  42.22%

thats a big jump in number in default. any reason why?