What is a Reserve deal?
This is a reserved loan that we have agreed for a borrower but has not yet completed (i.e. we have not paid out funds to the Borrower), that we have now placed onto the platform for investors to fund.
What is the difference between a 'live' and a 'reserve' deal?
Once you have selected the 'Select Invest' option you will see all the available loans to invest in. There are two types of deals you can invest into, 'Live Deals' and 'Reserve Deals'.
Live Deals
These are previously reserved loans that are now completed (i.e. we have paid out the funds to the borrower).
Reserve Deals
These are new loans that we have agreed for borrowers but have not yet completed (i.e. we have not paid out funds to the Borrowers), that we place onto the platform for investors to fund.
What are the Terms and Conditions of a SELECT-INVEST Reserve Deal?
1. Launch of Reserve Rates
1.1 A new "Reserve Rate" will be available for all new Select Reserve opportunities, with the option of either monthly or compound interest while the deal is in reserve status.
1.2 Once your Reserve Investment goes Live, the chosen rate and interest payment method will apply to your loan part throughout the term of the deal.
2. Live Deals Interest Payment Structure
2.1 The option to invest with monthly interest payments will no longer be available for new investments on Live deals.
2.2 All investments will start accruing interest from the date the investment deal goes live. For investments made in reserve deals, your chosen investment options will be set and cannot be changed or amended when the deal goes live.
2.3 Investments available within Live deals will only be offered compound interest at the standard rate going forward. This includes purchases made on the Secondary Market
3. Reserve Cashback Payments
3.1 With the introduction of enhanced rates available while a deal is in reserve, we will no longer pay any reserve cashback once a deal goes Live. This change allows us to offer more competitive and transparent returns in the future, making the platform more straightforward for all our investors.
3.2 Please note, there are no changes to the ability to unreserve your investment while it is in a Reserve status.