cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2016 14:15:12 GMT
I'm a SS fan; I invest with no other platform because of the trust I have in SS However, along with these new DFLs and the many questions surrounding the Exeter Loan; quite frankly I'm sitting here in utter disbelief  We just want some basic information savingstream  For me, I'm setting the Pre-funding for these Exeter loans to £100; purely to see what the allocation amount is. I'd much rather put my money in the Huddifield Pebble; much safer bet AFAICS. |
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Post by dodgeydave on Mar 8, 2016 14:29:09 GMT
I am a big fan of SS been with them since the early days.
But the communication is starting to break down. Not a good sign for investors.
There needs to be clear and concise memo from them clearing up all this uncertainty.
All i am seeing is guesswork and no real answers
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ben
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Post by ben on Mar 8, 2016 14:54:10 GMT
I am a big fan of SS been with them since the early days. But the communication is starting to break down. Not a good sign for investors. There needs to be clear and concise memo from them clearing up all this uncertainty. All i am seeing is guesswork and no real answers At the moment SS is probably my second favourite site but with the way they have been communicating lately I am not so sure, this is a new type of loan and they have allegedly got an expert in the field heading this up. Surely it would make sense for him to send out a global email to all members explaining about this type of loan. I also dislike the way lately they have been launching multiple loans either in one day or the next day with the way prefunding way you have absolutely no idea how much of a loan you are going to get, might get 100% or might get 30% does make planning quite hard. As I do not know enough about the DFL loans I will not be putting any extra into them I will keep what I have in the old loans and let it roll over if that is SS plan but until I get some more information will not increase it.
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ilmoro
Member of DD Central
'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 Mar 8, 2016 15:25:48 GMT
I've emailed SS to ask if the current loans will be "rolled over" into the new DFLs. Waiting for an answer. I think they might be getting a few emails. Hopefully they are busy answering them, hence the absence from here.
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Post by lb on Mar 8, 2016 16:28:44 GMT
I'm a SS fan; I invest with no other platform because of the trust I have in SS However, along with these new DFLs and the many questions surrounding the Exeter Loan; quite frankly I'm sitting here in utter disbelief We just want some basic information savingstream For me, I'm setting the Pre-funding for these Exeter loans to £100; purely to see what the allocation amount is. I'd much rather put my money in the Huddifield Pebble; much safer bet AFAICS. cooling dude - you seem to hold some sway with SS - can you ask them why loan agreements between us and borrowers are not uploaded?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2016 16:31:36 GMT
I'm a SS fan; I invest with no other platform because of the trust I have in SS However, along with these new DFLs and the many questions surrounding the Exeter Loan; quite frankly I'm sitting here in utter disbelief We just want some basic information savingstream For me, I'm setting the Pre-funding for these Exeter loans to £100; purely to see what the allocation amount is. I'd much rather put my money in the Huddifield Pebble; much safer bet AFAICS. cooling dude - you seem to hold some sway with SS - can you ask them why loan agreements between us and borrowers are not uploaded? I hold no sway! SS are just good at responding to e-mails (in my case that seems to be within 24hrs) I suggest you send your question to them direct, and let us know the answer! But not yet; let them sort out the DFL fiasco first 
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adrianc
Member of DD Central
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Post by adrianc on Mar 8, 2016 16:34:19 GMT
...but will have the option of exiting should they so wish.
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gt94sss2
Member of DD Central
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Post by gt94sss2 on Mar 8, 2016 16:34:32 GMT
Answer from savingstream When a PBL loan is launched as a new DFL loan all existing investors in the PBL will be rolled into the new DFL loan but will have the option of exiting should they so wish. Out of curiosity - I wonder how this sits with the FCAs 'treating customers fairly' principles? I suspect not well - given that the DFL loans are very different from the PBL ones - but I guess it all depends on what 'all existing investors have the option of exiting should they so wish' actually means. As a PBL holder, I am not aware of this option and I don't think that selling in the SM counts as such (as the liquidity may not always be there)
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SteveT
Member of DD Central
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Post by SteveT on Mar 8, 2016 16:42:22 GMT
If you have the option of either rolling over your holding or of SS redeeming it, how can that NOT "treat customers fairly"?
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Mar 8, 2016 16:43:07 GMT
...but will have the option of exiting should they so wish. I saw that - but haven't been told by SS where exit option will be offered BEFORE the new loan is launched. I will be rolling over (cue funny images).
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adrianc
Member of DD Central
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Post by adrianc on Mar 8, 2016 16:45:51 GMT
I will be rolling over (cue funny images). Awww! <tummy tickle> 
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gt94sss2
Member of DD Central
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Post by gt94sss2 on Mar 8, 2016 16:47:53 GMT
please ignore -duplicate post (unable to delete)
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gt94sss2
Member of DD Central
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Post by gt94sss2 on Mar 8, 2016 16:53:25 GMT
If you have the option of either rolling over your holding or of SS redeeming it, how can that NOT "treat customers fairly"? As I said, it depends what SS mean by 'all existing investors have the option of exiting should they so wish'. Is it: - we have the option of selling on the SM?;or - they will ask us to chose/nominate an option (which they have not yet done)? imho a platform automatically rolling over an investment into a very different loan isn't the done thing.. at least when Ablrate did something similar recently, it was for the same loan/loan type and they gave existing investors an opt out option in advance..
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SteveT
Member of DD Central
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Post by SteveT on Mar 8, 2016 16:58:54 GMT
If you have the option of either rolling over your holding or of SS redeeming it, how can that NOT "treat customers fairly"? As I said, it depends what SS mean by 'all existing investors have the option of exiting should they so wish'. Is it: - we have the option of selling on the SM?;or - they will ask us to chose/nominate an option (which they have not yet done)? imho a platform automatically rolling over an investment into a very different loan isn't the done thing.. at least when Ablrate did something similar recently, it was for the same loan/loan type and they gave existing investors an opt out option in advance.. My suggestion would be to let them know by email if you don't want your holding rolled over. They're very helpful and reasonable in my experience.
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gt94sss2
Member of DD Central
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Post by gt94sss2 on Mar 8, 2016 17:05:05 GMT
Answer from Tim at SS on how to roll over your PBL into the DFL. You would need to set your prefund to £0 for DFL001.Isn't that the default position anyway - for anyone who doesn't want to pre-fund at all? savingstream really need to step up their communication effort ahead of these loans going live..
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