Members vote ‘yes’ to Early Access feature

Unanimous decision reached to roll out the Early Access Transfer feature, providing lenders with the ability to exit an investment early.

Yesterday, we held our meeting of the members of the RateSetter Lending Platform, to vote on the amendment to the constitution of the RateSetter Lending Platform.

The result of member voting is as follows:

Units forUnits againstUnits abstaining

The approval by members of the proposed amendments to the constitution will allow RateSetter to, amongst other things, launch the Early Access Transfer feature. This feature will provide investors with an ability to exit an investment in a loan before the end of the nominal term, provided there are funds from other investors to fund that loan. This has been one of the most requested features by members, and one which should help make RateSetter an even more attractive option for investors.

We expect to issue a new Product Disclosure Statement with further details of the Early Access Transfer prior to its implementation. RateSetter would like to thank members who provided proxies or attended today’s meeting to vote. If you have any questions, please don’t hesitate to contact us.

This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of RateSetter as at the date of publication and may later change without notice.