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Post by waryinvestor on Sept 18, 2017 9:41:43 GMT
I can't find one. I have invested a small amount, but am wondering if they have a withdrawal facility at all. It seems they don't and that is a bit scary - looks like a one way street ? Does anyone have any ideas about how to withdraw money from matured Devt Finance Loans or to withdraw any excess money transferred (either by mistake or if the loan has already been filled) ?
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Sept 18, 2017 10:01:32 GMT
I can't find one. I have invested a small amount, but am wondering if they have a withdrawal facility at all. It seems they don't and that is a bit scary - looks like a one way street ? Does anyone have any ideas about how to withdraw money from matured Devt Finance Loans or to withdraw any excess money transferred (either by mistake or if the loan has already been filled) ? There is a board. If you go back to the main board and drop to the bottom, they are listed under "Equities Sites". I have withdrawn money. Do they have your bank details?
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james21
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Post by james21 on Sept 18, 2017 10:09:55 GMT
Its a PtoP lender same as the others, wonder why it comes under "equities sites"?
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Post by waryinvestor on Sept 18, 2017 10:26:19 GMT
Thanks. When I login, I can see my wallet and only add investments option. On contacting them, they have been saying that they would add this facility soon, but that was last December. Have you managed to withdraw any repaid Development Finance Loans or are they from Crowdfunding or P2P ?
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shimself
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Post by shimself on Sept 18, 2017 19:09:48 GMT
Its a PtoP lender same as the others, wonder why it comes under "equities sites"? Because on.ce upon a time they only did shares in a SPV (company created just for this purpose) in each house, and they still do.
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james21
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Post by james21 on Sept 18, 2017 21:04:35 GMT
You might be a bit out of date there pal, as far as I can see they offer among other types of investments ptop loans same as the other platforms
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shimself
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Post by shimself on Sept 19, 2017 20:32:44 GMT
You might be a bit out of date there pal, as far as I can see they offer among other types of investments ptop loans same as the other platforms "Once upon a time" that's what I wrote (nearly)
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Post by many38 on Oct 31, 2017 11:35:42 GMT
Its a PtoP lender same as the others, wonder why it comes under "equities sites"? I asked this same question last year and was told it is not a P2P company. I've been with them almost from inception and they now have my largest P2P holding. I am with 5 others and it's the only one where I do not have any losses. Some time ago I enquired whether it was possible to sell and was told they will act as intermediaries and sell to other investors for a small fee. I decided to hold so can't remember what the fee was.
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ahowlin
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Post by ahowlin on Jan 5, 2018 15:12:35 GMT
I think the categorisation is for historic reasons , at the time the board was setup they only sold Equity shares in Buy to Let/HMO Companies. It's only relatively recently that they started offering development loans etc.
They do act as intermediaries to sell unwanted shares in the various property rental offerings a few times per year. There is certainly no fee to the buyer except possibly stamp duty. I am not sure what the situation is for the seller and I don't know if they do this for development loans.
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