adrianc
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Post by adrianc on Sept 22, 2015 12:17:04 GMT
The email that went out yesterday states the new structure applies to loans written from today onwards. So, savingstream, can you confirm that PBL59 has been issued under the new structure?
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Post by savingstream on Sept 22, 2015 12:47:59 GMT
59 has been written using the old structure as it has been in legals prior to our go live. Everything in the pipeline is currently with solicitors and will be under the old terms for now; once we are up and running we will look to transfer these to the new model.
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mikes1531
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Post by mikes1531 on Sept 22, 2015 17:15:03 GMT
The email that went out yesterday states the new structure applies to loans written from today onwards. So, savingstream, can you confirm that PBL59 has been issued under the new structure? 59 has been written using the old structure as it has been in legals prior to our go live. Everything in the pipeline is currently with solicitors and will be under the old terms for now; once we are up and running we will look to transfer these to the new model. Ugh! Do we now have to get savingstream to define "written"? When they say "everything in the pipeline", do they mean everything in the pipeline that we can see, or are they including loans that they've started work on that aren't in the visible pipeline yet?
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jonah
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Post by jonah on Sept 22, 2015 19:56:32 GMT
A fair point raised
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shimself
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Post by shimself on Sept 23, 2015 9:25:35 GMT
59 has been written using the old structure as it has been in legals prior to our go live. Everything in the pipeline is currently with solicitors and will be under the old terms for now; once we are up and running we will look to transfer these to the new model. Please for the next while as each loan gets opened up for investment say very clearly this loan is under the old/new t&cs
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Sept 23, 2015 16:02:01 GMT
......................Can I suggest strengthening the protection on that number ASAP? Did you really want to draw that to the attention of the world and his wife? Most of us are a nice, friendly and upright bunch, to be sure, but let's all remember that not only members read this forum and there may even be some dubious and unscrupulous readers out there somewhere. I don't like to be critical (sorry  ), but wouldn't this have been better brought privately to SS' attention? I know it's not up to me to tell people how to conduct themselves, so apologies if I'm posting 'out of turn' but am prompted to say something this time having stayed silent whilst another poster has very recently been pointing out a fairly precise security hazard with another platform, which I similarly considered unwise. Not absolutely every thought regarding a platform that goes through our minds needs necessarily to be aired in public.
Edit: removed most of jonah's quote since he's now removed the original and my copy of it was equally unhelpful with regard to publicity  Although my post now no longer makes sense to anyone who never read the original I've decided to leave it in case it helps remind anyone else that we aren't in a closed environment in here.
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jonah
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Post by jonah on Sept 24, 2015 17:19:47 GMT
I agree with the post above. It was a mistake on my part. Thank you for pointing out my mistake ramblin roseLooking at the site today, this potential issue has been closed. jonah |
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Sept 24, 2015 19:14:57 GMT
I agree with the post above. It was a mistake on my part. Thank you for pointing out my mistake ramblin roseLooking at the site today, this potential issue has been closed. jonah And I think we all owe you a thank you for spotting it and doing your bit to get it resolved 
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paulg
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Post by paulg on Sept 24, 2015 19:20:56 GMT
I agree with the post above. It was a mistake on my part. Thank you for pointing out my mistake ramblin roseLooking at the site today, this potential issue has been closed. jonah , it could have been worse, you could have quoted the actual account number. As it was, after reading your post I had to strain my aging eyesight on a crappy laptop to work it out! 
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adrianc
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Post by adrianc on Oct 2, 2015 10:36:49 GMT
59 has been written using the old structure as it has been in legals prior to our go live. Everything in the pipeline is currently with solicitors and will be under the old terms for now; once we are up and running we will look to transfer these to the new model. So now that the pipeline is showing as empty, can you please absolutely and positively confirm that everything coming through now - 64 on - will be under the new structure?
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Post by savingstream on Oct 2, 2015 11:50:48 GMT
Everything coming through the platform will be via the new model as far as we can foresee. We have to talk to the Scottish lawyers when another deal up there comes around as they have funny rules and might not be compatible with the new model but we will engage with them in short order.
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arbster
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Post by arbster on Oct 2, 2015 11:53:56 GMT
Everything coming through the platform will be via the new model as far as we can foresee. We have to talk to the Scottish lawyers when another deal up there comes around as they have funny rules and might not be compatible with the new model but we will engage with them in short order. Thanks for this. Any timeframes for transferring the existing loans, and can you tell us which ones will not be transferred at all, please?
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Post by savingstream on Oct 2, 2015 12:04:44 GMT
Meeting with the lawyers on Monday to discuss transferring over sooner rather than later. New loans - we are not putting any out for a while (inshallah) in order to let everyone recuperate from the busiest month ever! However, as usual, we may disregard the above at any time without notice |
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huxs
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Post by huxs on Oct 12, 2015 15:48:18 GMT
Hi,
Given that it looks like the first loan to be issued under the new T&C's is to be launched shortly I just wanted to ask for clarification (ideally in simple terms  on what the change will really mean.
I know up until now we have actually been lending to SS and not directly to the borrower therefore increasing the important/relevance of platform risk and that in the new T&C that will change. This therefore makes SS a true P2P platform but my question is except in the case of SS folding will this change have any really impact? Does it impact how the PF will be used or how late or extended loans are treated etc; ??
Also is there anyone out there that is not happy with this change and why?
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SteveT
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Post by SteveT on Oct 12, 2015 15:59:39 GMT
Hi,
Given that it looks like the first loan to be issued under the new T&C's is to be launched shortly I just wanted to ask for clarification (ideally in simple terms on what the change will really mean.
I know up until now we have actually been lending to SS and not directly to the borrower therefore increasing the important/relevance of platform risk and that in the new T&C that will change. This therefore makes SS a true P2P platform but my question is except in the case of SS folding will this change have any really impact? Does it impact how the PF will be used or how late or extended loans are treated etc; ??
Also is there anyone out there that is not happy with this change and why?
Have you read the OP on this very thread?
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), but wouldn't this have been better brought privately to SS' attention?
Although my post now no longer makes sense to anyone who never read the original I've decided to leave it in case it helps remind anyone else that we aren't in a closed environment in here.
on what the change will really mean.