Post by fundingsecure on Dec 20, 2013 15:33:30 GMT
We have been following with interest the SavingStream thread as there have been a number of references to us which we feel we should comment on.
1) We are in no way connected with LendyMarine although we do know them as we met with them in October this year to discuss areas of mutual co-operation. Since then we have had no further discussion.
2) Our loan agreements are between the borrower and the creditors (savers) with FundingSecure acting as an agent for the savers. We believe this reflects the true principles of peer-to-peer lending. Following legal consultation, we were advised that the category of consumer credit licence should include credit brokererage, which is what Zopa and FundingCircle have.
3) We spent a lot of time, effort and expense on our terms and conditions with our lawyers. On reflection, para 13.10 seems somewhat over-zealous. We are revising this to say “You may include a link to our platform in any other site, computer or network. However, we reserve the right to request you to remove it for any reason”
Richard and Noman
1) We are in no way connected with LendyMarine although we do know them as we met with them in October this year to discuss areas of mutual co-operation. Since then we have had no further discussion.
2) Our loan agreements are between the borrower and the creditors (savers) with FundingSecure acting as an agent for the savers. We believe this reflects the true principles of peer-to-peer lending. Following legal consultation, we were advised that the category of consumer credit licence should include credit brokererage, which is what Zopa and FundingCircle have.
3) We spent a lot of time, effort and expense on our terms and conditions with our lawyers. On reflection, para 13.10 seems somewhat over-zealous. We are revising this to say “You may include a link to our platform in any other site, computer or network. However, we reserve the right to request you to remove it for any reason”
Richard and Noman
