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Post by harryvederci on Feb 4, 2017 13:35:43 GMT
If its with RSM Restructuring its a Lendy appointment (as PBL056)
According to latest updates there should be several properties being 'actively marketed' including care home sites in Wales, tenanted office block Somerset, all of which are notably conspicuous by their absence on the national marketing portals, both commercial and residential.
That is apart from PBL056 which remains fully available according to the agent after more than 3 months on the market
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am
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Post by am on Feb 4, 2017 13:41:15 GMT
If its with RSM Restructuring its a Lendy appointment (as PBL056) Yes, it is with RSM Restructuring.
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Post by supernumerary on Feb 11, 2017 8:39:31 GMT
As we have always maintained, we are trying to keep overheads low in order to pass as much profit on to you as possible. Our number 1 focus has always been to write the best loans and recover them as speedily and efficiently as possible. Our appetite for lending is still gargantuan, our credit and DD is rigorous, our recovery processes are robust and our track record speaks for itself. We have built a sustainable, award winning, long term business on the back of the above and we do not take our investors for granted. Many say our communications is our major weakness, we hear you and will resolve this from this point onwards. Liam Brooke FAO: Liam Brooke and the Saving Stream Board, RE: “We have built a sustainable, award winning, long term business on the back of the above and we do not take our investors for granted.” As it was you who started this thread, I thought best to respond directly to you here. The RECENT decision to scrap INPL for the secondary market would not have been taken lightly. Having read this recent post, I can understand why; Am I correct in thinking I have until 1st March to keep milking INPL? After that there's no way I'm leaving idle cash in SS, pains me to leave idle cash in any platform. 100% invested 100% of the time. Often with SS, it's been 125-150% invested 100% of the time  HOWEVER, instead of scrapping INPL for the secondary market, could you not extend the number of days that lenders cannot sell any loans while they are in a negative balance? Currently that number is 7. Why not continue with INPL, but have the number of days that lenders cannot sell their loans while they are in a negative balance at 31 days, which is basically a full month? Surely that would reduce the chance of certain lenders being “…125-150% invested 100% of the time”! PLEASE take time to read a selection of those lenders who are NOT happy with this new approach of totally scrapping INPL for the secondary market, to quote your own words Liam, “…we do not take our investors for granted.“ The people who able to snap up loans within milliseconds of them appearing will be confident of being able to invest deposited funds. For everyone else it is too risky because you might not get the chance to buy anything. I for one will not be leaving idle cash on the platform, only to keep getting "this loan is 100% funded". Exactly. Unless you have found some clever way to make sure you don't keep getting that message. Seriously, I have always been able to get something on the SM. but no longer. For me though, it is the end of the SM as a buyer. Idle cash is best on the bank where I can have it on a platform and making money in minutes, not sitting on SS while I tear my hair out trying to buy on the SM. I find INPL on the SM a nice feature, I often buy a few bits and bobs when reviewing the pipeline. I certainly would not have done if I had to transfer the cash in first. Too much of a luxury for me to have 1K sitting quietly on each of 7 platforms. It is not just the lack of interest, it is the lack of accessibility. If the latter changed, then I MIGHT put on a small amount, and then replenish it if I get a good buy. That is just a small selection… Thank you for reading. 
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Post by supernumerary on Feb 11, 2017 8:50:32 GMT
I love the SM INPL; the best feature on SS for me - makes diversifying easy. DUDE, but you love creating polls too…  So why not have another poll? [1] Agree with Saving Stream discontinuing INPL on the secondary market. [2] Continue with INPL on the seondary, but have the number of days that lenders cannot sell their loans while they are in a negative balance at 31 days, which is basically a full month.
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Jeepers
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Post by Jeepers on Feb 11, 2017 9:08:52 GMT
They are removing INPL as it's an FCA requirement to gain full authorisation. The decision is out of SS's hands.
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SteveT
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Post by SteveT on Feb 11, 2017 9:26:57 GMT
They are removing INPL as it's an FCA requirement to gain full authorisation. The decision is out of SS's hands. Indeed. Once a loan is drawn down, it is clear the FCA dictate that the platform itself cannot be a lender, even briefly. Hence only lenders with available cash can buy a loan part from another lender.
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Post by supernumerary on Feb 11, 2017 9:35:54 GMT
They are removing INPL as it's an FCA requirement to gain full authorisation. The decision is out of SS's hands. Are you absolutely certain of this? Have you personally seen this FCA requirement from them in writing? Other posters have also mentioned this, BUT from my own perspective it could be just a case of posters stating a possible requirement, that just keeps being repeated and repeated enough times, so that people think it is fact, when it isn't. I am just asking...
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SteveT
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Post by SteveT on Feb 11, 2017 9:48:19 GMT
Both Landbay and Ablrate have restructured their loan funding processes to eliminate any period of direct platform ownership. This now addresses the same issue for SS and I expect MT won't be far behind (in terms of raising lender funds before loans draw down).
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Post by supernumerary on Feb 11, 2017 10:00:21 GMT
Both Landbay and Ablrate have restructured their loan funding processes to eliminate any period of direct platform ownership. This now addresses the same issue for SS and I expect MT won't be far behind (in terms of raising lender funds before loans draw down). Thank you for explaining Steve.
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dzo
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Post by dzo on Feb 11, 2017 10:23:52 GMT
Working on the assumption that INPL-like features are no longer possible, I'd like to see Invest Now Pay Now. You could buy a loan part and then immediately authorise payment for it via debit card or similar. Until the transaction completes the loan part is still owned by the seller, and if payment fails it returns to the secondary market.
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registerme
Member of DD Central
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Post by registerme on Feb 11, 2017 11:01:43 GMT
Hi all,
Please can we keep the SM changes commentary limited to this thread? Helps keeps things tidy (if it continues here I'll just have to move all the relevant posts across). You can always tag Saving Stream there if you feel the need to bring your comment to their attention.
Cheers,
RM
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am
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Post by am on Feb 11, 2017 11:46:14 GMT
Working on the assumption that INPL-like features are no longer possible, I'd like to see Invest Now Pay Now. You could buy a loan part and then immediately authorise payment for it via debit card or similar. Until the transaction completes the loan part is still owned by the seller, and if payment fails it returns to the secondary market. That is a way forward would would work well for me - no dead cash on account, and for SS, no paying me interest on my "borrowed" loan. Seems fair - which is all I ask. The problem with that is merchant fees. Is Lendy willing to pay the merchant fees on a direct debit? Are you willing to pay the merchant fees on a direct debit?
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Post by GSV3MIaC on Feb 11, 2017 14:29:32 GMT
/mod hat off
That must be an HMRC special .. DVLA (and others?) charge more than that if you pay by credit card IIRC. Perhaps HMRC have a couple of unique bargaining chips .. a) sheer volume, and b) 'how would you like a tax audit?' ? 8>.
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james
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Post by james on Feb 11, 2017 15:04:57 GMT
Both Landbay and Ablrate have restructured their loan funding processes to eliminate any period of direct platform ownership. This now addresses the same issue for SS and I expect MT won't be far behind (in terms of raising lender funds before loans draw down). So far as I'm aware Ablrate do and did use direct lender funding, with no change being made to that. Maybe you meant somewhere else?
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ablender
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Post by ablender on Feb 11, 2017 17:20:37 GMT
That is a way forward would would work well for me - no dead cash on account, and for SS, no paying me interest on my "borrowed" loan. Seems fair - which is all I ask. The problem with that is merchant fees. Is Lendy willing to pay the merchant fees on a direct debit? Are you willing to pay the merchant fees on a direct debit? Other platforms manage without a fee, why should SS be different and ask lenders to pay a fee?
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