Nomad
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Post by Nomad on Jun 1, 2019 17:04:21 GMT
Just wondering if anyone here has experience of this firm's bonds, or has done some DD on the company?
I note that their FAQs state - "We are required by HM Revenue & Customs to tax the interest at source." Why would that be?
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pom
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Post by pom on Jun 1, 2019 20:32:05 GMT
I toe-dipped last Jan....into a 5yr bond paying interest monthly (7.46%), so a long way to go and no early exit (and to be honest if I could I probably would just because too many platforms not enough time). So far it's paid regularly, but I kinda wish I hadn't bothered. I find it very irritating that I end up with a tax certificate for every single monthly payment (as for why they tax at source, dunno, but they're one of about 3 platforms I use that does so). And they do have a tendency to phone you up quite regularly too, tho "I've got 20+ platforms so not really interested in what you have to say" works quite well (so really I've only had a few calls in that time). More concerningly there was an email a while back along the lines of "regulators say we have to tell you this...our diversity levels aren't quite what we predicted/promised" in that its mostly via one lender but they're trying to get more. Or something along those lines. So far its all paid as promised but it's all pretty opaque and post LCF I have to wonder if it was really a good idea. But, I haven't put much in so fingers crossed
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