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Post by caveman38 on Mar 25, 2016 6:16:39 GMT
Provisional Fund:
p2pindependentforum.com/thread/1642/investor-security?page=2
The Provision Fund - www.savingstream.co.uk/provision-fund
Today Saving Stream will be launching the 'Saving Stream Provision Fund'. Our Provision Fund is a discretionary fund that the shareholders of Lendy Ltd have created for the purpose of compensating investors should a shortfall exist during the disposal of any security held by Lendy Ltd. Our Provision Fund is a UK based company called Lendy Provision Reserve Limited and its Directors will consider requests made on behalf of the customers of Lendy Ltd if a loan were ever to default and the disposal of the security was insufficient to cover investor capital. In the interests of disclosure it should be noted that the Directors of Lendy Ltd are also the Directors of Lendy Provision Reserve Limited.
Does it exist, and how do I find it on their site.
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Post by caveman38 on Mar 23, 2016 19:29:13 GMT
Done. I think it's fine that you brought the vote to our attention and I would certainly have voted for you, but not too sure about the pre-population. Way I see it I wouldn't have known which categories they were eligible for if it hadn't been pre-populated. I expect you could have cleared any of the entries if you'd wanted Agree with Pom. Vote casted.
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Post by caveman38 on Mar 22, 2016 18:38:30 GMT
Loans 4 & 17 are shown as 5 year terms. Does that mean exactly that or are they renewable shorter term loans.
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Post by caveman38 on Mar 21, 2016 17:03:23 GMT
Whilst I can understand the frustrations of a new investor to MT trying to get into the earlier/smaller/more popular loans they were initially designed as 12 month offerings & only had a 6 month break clause added at the request of investors who wanted a possible exit from what was then a new & untested platform; This structure has now been superseded by the implementation of the SM so investors who want to sell can do so at anytime, so buyers just need to be lucky to login as & when these parts are listed for sale. The fact that MT has grown & gone from strength to strength is largely due to the excellent work of Ed & the Things & has resulted in few original investors choosing to liquidate their positions, which I rather see as a legacy benefit from investing in a platform that was much less popular/proven at the time they were initially offered. I wholeheartedly agree. I'm obviously just not quick enough and jealous. Off to do some reflex exercises.
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Post by caveman38 on Mar 21, 2016 16:36:26 GMT
...........to build up an investment of a few thousand across say 20 loans. I ask as what is already obvious to you guys is that getting a portion of the managed funds is impossible. I know they are well subscribed and with a LTV of 50% current holders are only too happy to recommit on expiry date. I was most surprised to see £510 still available on the portfolio renewing today. Now that meant I only had to be one of the first ten to get a bit of this loan. There I stood fingers at the ready F5ing like a maniac. Then the loan appeared and disappeared instantly. When I looked at the lucky investors, I saw that they all managed to claim their bits in 3-7 seconds, ie. 16:00:03. Now that has got to be impossible to navigate from loan page to offer page, then enter the amount and OK it. I know I'm only jealous of you guys who know the tricks and that is why I'd like the advice as to whether I have any chance of building up the number of loans to make my risk comfortably diverse. Needless to say I won't be trying any of the other portfolio renewals and will only invest in what's left.
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Post by caveman38 on Mar 21, 2016 12:18:25 GMT
Can someone explain to me the role of underwriters are who they are.
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Post by caveman38 on Mar 20, 2016 8:52:37 GMT
As a newbie I have a question. Is it correct that you cannot sell on holdings on SM till the loan is fully subscribed. Was this loan fully subscribed and now some investors are trying to sell back parts?
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MoneyThing (MT) in Administration
Info Please
Mar 18, 2016 18:19:47 GMT
Post by caveman38 on Mar 18, 2016 18:19:47 GMT
Would I be right in thinking (from info given on another thread) that Renewals tend to be subscribed from current holders of those loans as they are given first refusal. If so can I assume that the next 7 pending loans won't deliver any money to the platform to invest in.
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Post by caveman38 on Mar 18, 2016 16:31:04 GMT
Cheers for that - getting confused with SS
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Post by caveman38 on Mar 18, 2016 16:25:37 GMT
Re. this loan and the Managed Portfolio that were on the prefunding page till 16:00. I thought when I read the page that you had 24 hours from 16:00 today to bid to a max of £2,000 and £50 till tomorrow and then the loans would be love and open to all bidders. I see that although this one still has money left the Portfolio is fully subscribed. Where have I misinterpreted the prefunding rule. Thanks. The MP was a renewal and so presumably had very little availability (most lenders roll over their stakes) That I can understand and if that's correct then I wouldn't have had a shout then. If I am correct, this loan showed bidding started today, max 2K and live tomorrow. It is on live now. What am I misreading?
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Post by caveman38 on Mar 18, 2016 16:19:05 GMT
Re. this loan and the Managed Portfolio that were on the prefunding page till 16:00. I thought when I read the page that you had 24 hours from 16:00 today to bid to a max of £2,000 and £50 till tomorrow and then the loans would be love and open to all bidders. I see that although this one still has money left the Portfolio is fully subscribed. Where have I misinterpreted the prefunding rule. Thanks.
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Post by caveman38 on Mar 18, 2016 15:50:51 GMT
Please excuse what may seem a silly question. Why, bearing in mind SS record of no monies lost on the platform (or so I'm told) are people so happy to have an allocation in this loan. There are so many other loans available on SM to use their money or is it everybody likes to be a diverse across all loans. As I say I'm only in my first week and learning.
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MoneyThing (MT) in Administration
Info Please
Mar 18, 2016 8:16:31 GMT
Post by caveman38 on Mar 18, 2016 8:16:31 GMT
Anyone help please. Where on the MT site can I access info re. defaults, monies to lenders lost and reserved money for defaults ie. PF. Appreciate the help.
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Post by caveman38 on Mar 15, 2016 16:44:13 GMT
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Post by caveman38 on Mar 15, 2016 16:24:17 GMT
Could someone explain to me what they are exactly. Excuse my ignorance.
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