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Post by landbayceo on Dec 5, 2019 11:01:11 GMT
Landbay has announced today that it has closed it's retail p2p offering. Over the last 12 months or so the vast majority of our loans have been funded by institutions. After 5 1/2 years we have had no defaults and investors have got the returns that they expected. An institution is taking over all the retail funded loans so that current lenders have the loans liquidated into cash immediately.
More information can be found on our blog
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macq
Member of DD Central
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Post by macq on Dec 5, 2019 11:39:57 GMT
Landbay has announced today that it has closed it's retail p2p offering. Over the last 12 months or so the vast majority of our loans have been funded by institutions. After 5 1/2 years we have had no defaults and investors have got the returns that they expected. An institution is taking over all the retail funded loans so that current lenders have the loans liquidated into cash immediately.
More information can be found on our blog
Hi While its a shame you are closing your email says a transfer will happen directly to bank account by end of day but when logging on my account page it is asking me to make a withdrawal - so before confusing the issue which is correct?
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Post by landbayceo on Dec 5, 2019 12:24:35 GMT
For those investors with verified bank details will receive funds back today. If that is the email that you received then your bank details are verified.
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macq
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Post by macq on Dec 5, 2019 12:39:33 GMT
For those investors with verified bank details will receive funds back today. If that is the email that you received then your bank details are verified. Thanks - but that's why i am confused as my email does say that its verified and i have made withdrawals to it before but my login page asks me to make a withdrawal etc (so assume i will have to make a request anyway?)
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macq
Member of DD Central
Posts: 1,923
Likes: 1,189
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Post by macq on Dec 5, 2019 12:47:06 GMT
just got another email saying funds transferred - damn i was hoping for double bubble
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Post by gravitykillz on Dec 5, 2019 12:57:20 GMT
So what's going to happen the landbay thread after it bites the eternal dust ? RIP landbay.
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pom
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Post by pom on Dec 5, 2019 12:59:30 GMT
Whilst I appreciate there may well have been reasons for the speed of all this, I'm not v appreciative of how its been handled. First email I noticed was the one confirming my entire balance had been withdrawn - which caused me to instantly fear someone had hacked me and taken my cash, and it was only after I tried to login that I then found the other email buried in seasonal stuff Meanwhile IFISAs can be withdrawn (how when you can't access it any more?) or transferred (again how, when you can't access account ref info any more?). I really think a little bit more notice would have been appropriate to give us time to plan what to do with the funds
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macq
Member of DD Central
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Likes: 1,189
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Post by macq on Dec 5, 2019 13:56:44 GMT
Whilst I appreciate there may well have been reasons for the speed of all this, I'm not v appreciative of how its been handled. First email I noticed was the one confirming my entire balance had been withdrawn - which caused me to instantly fear someone had hacked me and taken my cash, and it was only after I tried to login that I then found the other email buried in seasonal stuff Meanwhile IFISAs can be withdrawn (how when you can't access it any more?) or transferred (again how, when you can't access account ref info any more?). I really think a little bit more notice would have been appropriate to give us time to plan what to do with the funds would agree - its unusual to complain about companies doing things to quick but in this case you do think 24 - 48 hrs notice of funds being moved would have been better (but maybe 2 extra days interest was out the question!)
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