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Post by Deleted on Apr 7, 2016 12:57:19 GMT
We can confirm that our application was submitted within our allotted window. We are now waiting for a case officer to be designated (6 months) and then the review of our application documents before granting of our full permission (another 6 months). In the meantime, its business as usual. We employed an agency who are very experienced at these sort of things to assist us in the application process, so we are confident of it sailing through with minimal amendments. I think some of the money waiting for the Lending ISA's will be better off buying loan parts now and paying the tax. The Lending ISA's appear some way off still (on all the P2P sites).
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Post by meledor on Apr 7, 2016 13:34:30 GMT
I wouldn't agree that SS are saying no risk exists. "Saving Stream will never have 100% loss " to me suggests some possibility of a less than 100% loss.
I agree with that part but its the part about them saying "We will sell a borrower’s asset, which will be worth more than the loan" that the bit that leaves them open a bit makes it sound like a fact.
The second part has to be read in the context of the first part. Otherwise following your reasoning SS imply there is a risk of less than 100% loss but in the next breath say there is no risk of loss which does not make sense. I read the comment as SS explaining the protection investors have in the form of the provision fund and the security of the property rather than it being a categorical statement that the investment is risk free.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Apr 7, 2016 13:45:20 GMT
We can confirm that our application was submitted within our allotted window. We are now waiting for a case officer to be designated (6 months) and then the review of our application documents before granting of our full permission (another 6 months). In the meantime, its business as usual. We employed an agency who are very experienced at these sort of things to assist us in the application process, so we are confident of it sailing through with minimal amendments. So, are we contemplating final authorisation to be just in time for the 2017-2018 IF ISA?
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ben
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Post by ben on Apr 7, 2016 14:54:24 GMT
I agree with that part but its the part about them saying "We will sell a borrower’s asset, which will be worth more than the loan" that the bit that leaves them open a bit makes it sound like a fact.
The second part has to be read in the context of the first part. Otherwise following your reasoning SS imply there is a risk of less than 100% loss but in the next breath say there is no risk of loss which does not make sense. I read the comment as SS explaining the protection investors have in the form of the provision fund and the security of the property rather than it being a categorical statement that the investment is risk free.
they are saying that they will sell the asset will be worth more then the loan so they contradict them selfs in that bad, also even if they do sell the asset for the same price as the loan does not mean that is what you will get back as other fees will need to be taken into account, cost of sale etc
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Post by lb on Apr 7, 2016 15:08:37 GMT
We can confirm that our application was submitted within our allotted window. We are now waiting for a case officer to be designated (6 months) and then the review of our application documents before granting of our full permission (another 6 months). In the meantime, its business as usual. We employed an agency who are very experienced at these sort of things to assist us in the application process, so we are confident of it sailing through with minimal amendments. haven't you petitioned the FCA for the IFISA to be suspended until all platforms applications have been approved? so therefore we could be waiting a year or so for the IFISA ... ??
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Post by savingstream on Apr 7, 2016 18:04:39 GMT
We can confirm that our application was submitted within our allotted window. We are now waiting for a case officer to be designated (6 months) and then the review of our application documents before granting of our full permission (another 6 months). In the meantime, its business as usual. We employed an agency who are very experienced at these sort of things to assist us in the application process, so we are confident of it sailing through with minimal amendments. So, are we contemplating final authorisation to be just in time for the 2017-2018 IF ISA? That is what we are working toward.
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