Post by Monetus on Jul 4, 2019 11:43:26 GMT
Welcome to the FundingSecure Newsletter - July 2019
Dear
The way in which people invest money is constantly evolving, and so is FundingSecure.
As you know, due to the current financial climate, we continue to develop our ongoing focus to be more selective when analysing possible new loans, as well as exercising ever more stringent due diligence processes aiming for zero defaults whilst aiming to maximise our investors’ returns. By being more selective and executing fewer loans with better borrowers at lower rates, we aim to further improve the overall yield enjoyed by our investors.
We remain fully committed to prioritising a lower LTV ratio while reviewing more readily saleable properties and conducting enhanced “stress testing” of the borrower's exit strategy.
Following a detailed Customer Feedback survey, we are delighted to announce that a huge amount of progress has been made regarding the updates on our platform. We have recruited several new members of staff to join us who will assist our helpful and responsive Customer Service Team on the online chat facility, and we have also updated much of our existing software, making our processes faster and more efficient.
In addition, although we’re still in the process of catching up with the substantial backlog, we can confirm that significant headway has also been made regarding forming the exit strategies for all outstanding loans. We trust that you see evidence of more effective and timely updates on the loans you have invested into.
Key updates for June 2019
Loans Activated: £1.6m
Secondary Market: £3.3m
Loans Repaid: £4.5m
Loans being funded: £2.1m
New Investors: 89
Defaults Recovered: £1.3M
FundingSecure Investor Evening
We would like to thank everybody for attending the Investor evening in June. It was a highly successful and informative evening.
We outlined our new approach and the feedback received was extremely positive. A secondary action plan is already being devised under careful deliberation in order to action more of the Investors’ comments and observations.
Because of the evident success of the evening, there are now more Investor Update Communication Events planned for 2019, the details of which will follow in forthcoming newsletters.
FundingSecure New Loans
We will also shortly be introducing a fixed date for completion on many of our new loans. Once they have been closed on the agreed date, any part not filled by you and your fellow investors will be filled by our underwriters.
We will be sending more information out on this in due course and selected new loans that take this approach will be clearly highlighted on the platform.
As a result of knowing the date on which loans will be closed, interest on these types of loans will only be paid from the activation date and not the allocation date.
FundingSecure Loan Updates
June Loans: £1.5m
June saw 20 loans issued, totalling £1.5m, a quieter month for new loans. At the end of June our total lending amounted to £309,544,744, across 2,724 loans, returning a total of £14.1m in interest to investors.
Please see our statistics page for more details
The Secondary market sales in June totalled £3.3m, a quieter month than the £5m+ in May.
More Information on the Secondary Market
FundingSecure Team Update
We are pleased to announce an addition to the team at FundingSecure - Will Sterio as our new Broker Development Manager.
Repeated Information about Withdrawals and Deposits
Timing of fund transfers
For reasons of security the transfer of funds to and from the client bank account is handled entirely separately from the live website. For both withdrawals and deposits the final step is a manual one - where an authorised member of staff verifies the details and approves the movement of funds.
For deposits during office hours this usually occurs within one hour of the request, although delays can sometimes occur due to random fraud checks by either bank.
Withdrawals require additional authorisation and can take up to four hours. Once again they can occasionally be delayed by random fraud checks.
If a request is made out of hours it may still be handled if any authorised staff are present, otherwise it will be authorised the next business day.
Important Information for Deposits
When making a deposit please make sure you notify us by going to "My Account / Transfers" and click on "make deposit".
Failure to do the above may result in a delay of up to 24 hours for the funds to be available for investing
NOTE: please also ensure you use your username as the reference to ensure the funds are credited to the correct account.
Your Feedback
We hope you enjoy our communications. If you have any thoughts on our newsletters, website or any aspect of our businesses, please get in touch. It would be great to hear from you.
Please provide any comments by email - CLICK HERE
Thank you
FundingSecure
Dear
The way in which people invest money is constantly evolving, and so is FundingSecure.
As you know, due to the current financial climate, we continue to develop our ongoing focus to be more selective when analysing possible new loans, as well as exercising ever more stringent due diligence processes aiming for zero defaults whilst aiming to maximise our investors’ returns. By being more selective and executing fewer loans with better borrowers at lower rates, we aim to further improve the overall yield enjoyed by our investors.
We remain fully committed to prioritising a lower LTV ratio while reviewing more readily saleable properties and conducting enhanced “stress testing” of the borrower's exit strategy.
Following a detailed Customer Feedback survey, we are delighted to announce that a huge amount of progress has been made regarding the updates on our platform. We have recruited several new members of staff to join us who will assist our helpful and responsive Customer Service Team on the online chat facility, and we have also updated much of our existing software, making our processes faster and more efficient.
In addition, although we’re still in the process of catching up with the substantial backlog, we can confirm that significant headway has also been made regarding forming the exit strategies for all outstanding loans. We trust that you see evidence of more effective and timely updates on the loans you have invested into.
Key updates for June 2019
Loans Activated: £1.6m
Secondary Market: £3.3m
Loans Repaid: £4.5m
Loans being funded: £2.1m
New Investors: 89
Defaults Recovered: £1.3M
FundingSecure Investor Evening
We would like to thank everybody for attending the Investor evening in June. It was a highly successful and informative evening.
We outlined our new approach and the feedback received was extremely positive. A secondary action plan is already being devised under careful deliberation in order to action more of the Investors’ comments and observations.
Because of the evident success of the evening, there are now more Investor Update Communication Events planned for 2019, the details of which will follow in forthcoming newsletters.
FundingSecure New Loans
We will also shortly be introducing a fixed date for completion on many of our new loans. Once they have been closed on the agreed date, any part not filled by you and your fellow investors will be filled by our underwriters.
We will be sending more information out on this in due course and selected new loans that take this approach will be clearly highlighted on the platform.
As a result of knowing the date on which loans will be closed, interest on these types of loans will only be paid from the activation date and not the allocation date.
FundingSecure Loan Updates
June Loans: £1.5m
June saw 20 loans issued, totalling £1.5m, a quieter month for new loans. At the end of June our total lending amounted to £309,544,744, across 2,724 loans, returning a total of £14.1m in interest to investors.
Please see our statistics page for more details
The Secondary market sales in June totalled £3.3m, a quieter month than the £5m+ in May.
More Information on the Secondary Market
FundingSecure Team Update
We are pleased to announce an addition to the team at FundingSecure - Will Sterio as our new Broker Development Manager.
Repeated Information about Withdrawals and Deposits
Timing of fund transfers
For reasons of security the transfer of funds to and from the client bank account is handled entirely separately from the live website. For both withdrawals and deposits the final step is a manual one - where an authorised member of staff verifies the details and approves the movement of funds.
For deposits during office hours this usually occurs within one hour of the request, although delays can sometimes occur due to random fraud checks by either bank.
Withdrawals require additional authorisation and can take up to four hours. Once again they can occasionally be delayed by random fraud checks.
If a request is made out of hours it may still be handled if any authorised staff are present, otherwise it will be authorised the next business day.
Important Information for Deposits
When making a deposit please make sure you notify us by going to "My Account / Transfers" and click on "make deposit".
Failure to do the above may result in a delay of up to 24 hours for the funds to be available for investing
NOTE: please also ensure you use your username as the reference to ensure the funds are credited to the correct account.
Your Feedback
We hope you enjoy our communications. If you have any thoughts on our newsletters, website or any aspect of our businesses, please get in touch. It would be great to hear from you.
Please provide any comments by email - CLICK HERE
Thank you
FundingSecure
