cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
|
Post by cooling_dude on Mar 1, 2016 1:51:32 GMT
This is not a complaint from myself that results in a poll. EDIT & UPDATE
p2pindependentforum.com/post/96465So it seems that SS have listened, and there may indeed be some problems with people gaming the SM. As such they are considering a credit limit based on account balance. Couldn't be happier if they did; can't see why that would upset anybody other than the gamers  |
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Mar 1, 2016 4:06:22 GMT
I'm only starting to invest, but I would be happy to have to send a deposit first. Would you still be happy if you deposited £5k, entered a £5k pre-funding request... and were allocated just £500?
|
|
|
|
Post by xyon100 on Mar 1, 2016 6:37:16 GMT
I'm only starting to invest, but I would be happy to have to send a deposit first. Would you still be happy if you deposited £5k, entered a £5k pre-funding request... and were allocated just £500? Followed by a loan drought while finding it impossible to get anything on the SM?
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Mar 1, 2016 7:40:19 GMT
Whilst can easily understand some of the points that might be raised, I've lately come to the conclusion that the current system provides great liquidity (you can literally sell peanuts in minutes if not seconds sometimes) & would also have an issue with money sitting idle during drought periods, which I'm loathe to go through as it affects returns over a prolonged period. The pipeline should easily keep on supporting the current status quo. If it ain't broke..........
|
|
ianj
Member of DD Central
Posts: 656
Likes: 520
|
Post by ianj on Mar 1, 2016 8:03:30 GMT
Whilst can easily understand some of the points that might be raised, I've lately come to the conclusion that the current system provides great liquidity (you can literally sell peanuts in minutes if not seconds sometimes) & would also have an issue with money sitting idle during drought periods, which I'm loathe to go through as it affects returns over a prolonged period. The pipeline should easily keep on supporting the current status quo. If it ain't broke.......... Quite agree. Took the words out of my mouth. And why would SS want to give up a major advantage held over their competitors?
|
|
registerme
Member of DD Central
Posts: 6,624
Likes: 6,437
|
Post by registerme on Mar 1, 2016 8:09:42 GMT
To be honest I think our opinions are irrelevant. If the FCA allow it the practice will continue, if the FCA frown up it the practice will change.
|
|
|
|
Post by meledor on Mar 1, 2016 8:22:48 GMT
I can't see the point of this poll. Why would anyone not want to have the existing system whereby we can commit to a loan whether on the PM or SM before we deposit funds? It is a system that works very well so why even think about suggesting something else?
|
|
|
|
Post by xyon100 on Mar 1, 2016 8:23:06 GMT
To be honest I think our opinions are irrelevant. If the FCA allow it the practice will continue, if the FCA frown up it the practice will change. Just what could the FCA object to though?
|
|
Balder
Member of DD Central
Posts: 646
Likes: 622
|
Post by Balder on Mar 1, 2016 8:24:27 GMT
I can't see the point of this poll. Why would anyone not want to have the existing system whereby we can commit to a loan whether on the PM or SM before we deposit funds? It is a system that works very well so why even think about suggesting something else? Agree 100%. Next there will be a poll to track RS rates!!!!!!
|
|
registerme
Member of DD Central
Posts: 6,624
Likes: 6,437
|
Post by registerme on Mar 1, 2016 8:24:54 GMT
To be honest I think our opinions are irrelevant. If the FCA allow it the practice will continue, if the FCA frown up it the practice will change. Just what could the FCA object to though? Client money rules. EDIT: PS. Don't shoot the messenger
|
|
|
|
Post by meledor on Mar 1, 2016 8:31:59 GMT
Just what could the FCA object to though? Client money rules. EDIT: PS. Don't shoot the messenger
Presumably the scenario here is on the SM where the seller could withdraw cash before the buyer deposits funds. Provided Saving Stream have their own cash in the separate client account to cover this I don't believe there would be a problem.
|
|
|
|
Post by jackpease on Mar 1, 2016 8:33:32 GMT
Buy-now-pay-later is the single best thing about SS closely followed by its simplicity, i so hope that it doesn't change and become vanilla.
The baying of the crowd (well - this forum) pushed Assetz into a 'fairer' system avoiding the elephant in the room which is whether deal flow matches 'the offer'
Jack P
|
|
|
|
Post by xyon100 on Mar 1, 2016 8:38:33 GMT
Buy-now-pay-later is the single best thing about SS closely followed by its simplicity, i so hope that it doesn't change and become vanilla. The baying of the crowd (well - this forum) pushed Assetz into a 'fairer' system avoiding the elephant in the room which is whether deal flow matches 'the offer' Jack P I agree totally. The ability to commit to a loan and send the funds later, plus the simplicity is what makes SS so popular. By the way, does anyone know if SS do apply any sort of sanction to those who commit and subsequently don't pay?
|
|
|
|
Post by Deleted on Mar 1, 2016 8:50:14 GMT
Like the credit facility, but Saving Stream need to clamp down on those that abuse the system.
Perhaps payment should be made within 24 hours and not 48 hours.
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Mar 1, 2016 9:18:40 GMT
I can't see the point of this poll. Why would anyone not want to have the existing system whereby we can commit to a loan whether on the PM or SM before we deposit funds? It is a system that works very well so why even think about suggesting something else? That may be your opinion and experience, but it is obvious to me that INPL is a major factor in the pre-funding gaming shambles.
|
|
