mikes1531
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Post by mikes1531 on Oct 16, 2015 18:30:02 GMT
All new loans will be completed using these T&Cs. But SS have said that 'new' doesn't mean loans that appear on the website after that announcement. They mean loans that hadn't started legals until after that announcement. And we don't really have a clue how long it might take from starting legals until we see any indication of a loan in the pipeline. All we can do is speculate until SS tell us which Ts&Cs apply to which loans. Which they have promised to do. Hopefully before any new loans become available for investment.
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shimself
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Post by shimself on Oct 16, 2015 18:56:33 GMT
By email they've told me it's all new loans from here on.
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mikes1531
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Post by mikes1531 on Oct 16, 2015 20:16:47 GMT
By email they've told me it's all new loans from here on. That's fine for shimself, but SS haven't told me. And they haven't put the info on their published list of loans yet. Until that happens, I just don't know.
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Post by Deleted on Oct 16, 2015 23:18:19 GMT
Can anyone explain how the old loans fit in the new structure?
Will they all transferred in the new T&C? And how?
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grahamg
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Post by grahamg on Oct 16, 2015 23:36:31 GMT
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shimself
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Post by shimself on Oct 17, 2015 13:02:11 GMT
By email they've told me it's all new loans from here on. That's fine for shimself, but SS haven't told me. And they haven't put the info on their published list of loans yet. Until that happens, I just don't know. As of this minute not one of their loans is under the new structure (?), so you can sort of see why the loans list could logically be silent on the subject. I got more and more on their xxxs (nerves) and got terser and terser answers as when they announced each new loan I emailed them to ask which t&c and they replied to say old ones. I agree they're being a bit donkeyish about this, I don't know why
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adrianc
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Post by adrianc on Oct 23, 2015 15:25:42 GMT
As of this minute not one of their loans is under the new structure (?) The update email that's just come out confirms PBL64 is definitely under the new structure...
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 23, 2015 16:11:47 GMT
Disappointingly no sign of anything on the site indicating that.
And wheres the loan contract?
7.4 Each time you purchase or sell a loan part, you will be shown the Loan Contract which will detail the legal terms of the loan.
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mikes1531
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Post by mikes1531 on Oct 23, 2015 23:30:56 GMT
Disappointingly no sign of anything on the site indicating that. Maybe it's visible only on the 'new, improved' website?  
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james
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Post by james on Nov 1, 2015 3:03:01 GMT
The update email that's just come out confirms PBL64 is definitely under the new structure... for PBL 64 who are parties, A, B and C from section 36H: " (1) Where the condition in paragraph (2) is satisfied, operating an electronic system which enables the operator (“A”) to facilitate persons (“B” and “C”) becoming the lender and borrower under an article 36H agreement is a specified kind of activity." and what is the contents of the relevant paragraphs in the loan contract mentioning those three parties and their responsibilities and obligations under the contract? Disappointingly no sign of anything on the site indicating that. Maybe it's visible only on the 'new, improved' website? Nothing quite like just asking. 
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