SteveT
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Post by SteveT on Feb 16, 2016 23:33:59 GMT
Can I recommend that all those who are concerned about the valuation legalese express their protest by cancelling their pre-funding targets (thereby leaving more of the loans available for the rest of us)?
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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 Feb 17, 2016 1:00:22 GMT
Can I recommend that all those who are concerned about the valuation legalese express their protest by cancelling their pre-funding targets (thereby leaving more of the loans available for the rest of us)? I was going to suggest earlier that as these clauses or similar seem to pervade many valuations it should be considered an invasive species. As these are highly detrimental to the value of property it would be safest if all loans infected were sold.  Decided against as worried someone might take me seriously 
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ablender
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Post by ablender on Feb 17, 2016 1:15:35 GMT
Can I recommend that all those who are concerned about the valuation legalese express their protest by cancelling their pre-funding targets (thereby leaving more of the loans available for the rest of us)? I already did. ilmoro I liked that video.
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mikes1531
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Post by mikes1531 on Feb 17, 2016 4:43:47 GMT
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. Clearly it has. Why is this our problem? : It's not our problem directly, but I do have a concern about whether Lendy/SS violating Clause 15.3 could make it more difficult for them to mount a successful lawsuit against the valuer if that were to be appropriate in the future. If that were the case, then it would become our problem. 
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stevio
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Post by stevio on Feb 17, 2016 8:21:12 GMT
Are any of these Tranches covered under the Provision Fund?
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ben
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Post by ben on Feb 17, 2016 8:37:48 GMT
Are any of these Tranches covered under the Provision Fund? I was under the impression that al the loans were covered under it
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Post by mattie on Feb 17, 2016 8:50:54 GMT
Are any of these Tranches covered under the Provision Fund? I was under the impression that al the loans were covered under it I read it the other way around. That none of the loans are covered by the provision fund. It's a discretionary fund, so if a loan defaults and the asset sale doesn't produce enough funds to cover the debt the directors have the option to make good some or all of the loss, but in no way are guaranteed to do so.
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ben
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Post by ben on Feb 17, 2016 8:56:55 GMT
True but if it does not pay out and has the money what is the point of it ?
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Liz
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Post by Liz on Feb 17, 2016 9:23:00 GMT
I was under the impression that al the loans were covered under it I read it the other way around. That none of the loans are covered by the provision fund. It's a discretionary fund, so if a loan defaults and the asset sale doesn't produce enough funds to cover the debt the directors have the option to make good some or all of the loss, but in no way are guaranteed to do so. All loans are covered by the provision fund, but of course if the demand on the fund is larger than the fund, then expect to take a loss.
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tomtom
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Post by tomtom on Feb 17, 2016 9:23:40 GMT
Any idea when we will know how much we have been allocated on these funds today?
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Liz
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Post by Liz on Feb 17, 2016 9:33:29 GMT
I must also point out that the provision fund is small in relation to the overall loans, fixed at no more than 2% of assets, and is unlike other funds that can accumulate in good times.
personally i often forget the fund exists and certainly don't rely on it when making an investment decision.
The fund also hasn't been drawn on yet, so until it does, especially a large call on it, then we all are a little in the dark. Would Lendy top it back up, close it, run it at less than 2%?
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Liz
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Post by Liz on Feb 17, 2016 9:36:05 GMT
Any idea when we will know how much we have been allocated on these funds today? Not yet, you should receive an email once the allocation is decided. I expect we should know very shortly, once the SS computer has had its coffee.
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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 Feb 17, 2016 9:36:38 GMT
Any idea when we will know how much we have been allocated on these funds today? email usually sent as soon as launches.If youre in the site the loan appears and you can see it allocating as you watch sometimes
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locutus
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Post by locutus on Feb 17, 2016 9:51:55 GMT
PBL077 just filled.
Edit: From the looks of it, I think all four tranches will be oversubscribed. Well done SS. Incredible growth.
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Post by mattie on Feb 17, 2016 9:55:40 GMT
Any idea when we will know how much we have been allocated on these funds today? email usually sent as soon as launches.If youre in the site the loan appears and you can see it allocating as you watch sometimes It's starting to come through now.
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