PBLs 077 - 080

You will soon start competing with m**3 on a professional level then.

Thanks guys. Do I need to register somewhere to receive "ADVANCE LOAN GO-LIVE NOTICE" emails, I haven't received anything?

And 15.1 as well .. apparently we are not allowed to take any notice of it even if we should accidentally see it. Maybe Lendy could elaborate about these clauses??

That doesn't help with the 'not available to Lenders' clause. I mean what's the point of the valuation if not to be made available to lenders?!?

I will be quoting from the valuation document prepared for Lendy  for the Loan numbered PBL077. This document was prepared and copyrighted by Pygott and Crone. The following quote is necessary the purpose of my criticism as allowed by copyright laws in the UK. (Please see info at end of this post.)



We are being presented with a loan backed up by a valuation document prepared for Lendy which we are not supposed to see. To back up my claims I am quoting the relevant sections from the valuation document.

"
15.0 LIMITATION AND PUBLICATION


15.1 This Valuation Report is prepared solely for the use of Lendy Ltd and no responsibility is accepted to any other party for the whole or any part of its contents. The Valuation Report may be disclosed to other professional advisors assisting in respect of the purpose for which the valuation is prepared but may not be disclosed to or relied upon by individual investors providing funding to Lendy Ltd or its associated companies.


15.2 Neither the whole nor any part of this Valuation Report nor any reference thereto may be included in any published document, circular or statement nor published in any way without the Valuer’s written approval of the form and context in which it may appear.


15.3 Neither the whole nor any part of this Valuation Report may be published, reproduced or made publicly available via the internet or any other electronic medium.
"


I would like an explanation from both savingstream and Pygott and Crone (through SS if necessary) about this clause. We are an interested party of this lending and cannot be excluded from reading or having access to such document. I also object to Pygott and Crone denying any responsibilities for their services from us, directly or indirectly through SS. 
Definitely, " the valuation is prepared but may not be disclosed to or relied upon by individual investors providing funding to Lendy Ltd or its associated companies" makes this valuation totally useless to us and goes against our interests.
Point 15.2 and 15.3 seems to suggest that we should not even have the opportunity to read this document and that we should be lending blind. Has the situation of how P2P been explained to these valuers? 

I think that these issues are very important to us the lenders and need to be addressed ASAP. 



"Criticism, review and reporting current events
Fair dealing for criticism, review or quotation is allowed for any type of copyright work. Fair dealing with a work for the purpose of reporting current events is allowed for any type of copyright work other than a photograph. In each of these cases, a sufficient acknowledgment will be required." [https://www.gov.uk/guidance/exceptions-to-copyright accessed 16/2/16 - 12:22]

I'm keeping my pre-funding as it is; this clause isn't going to effect the loan or security, so no reason panic!

However it does need addressing.  I think in the future, when contacting surveyors SS need to put to explain that the valuation should be, and will be made avalibele to us investors