littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
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Nester
May 6, 2023 8:16:24 GMT
Post by littleoldlady on May 6, 2023 8:16:24 GMT
I wonder if they will introduce a "Bed & breakfast" facility to move existing loans into an ISA. Deciding on a valuation might be problematic but since the cash amount disappears again as soon as the loans are repurchased maybe it's not important.
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firedog
Member of DD Central
Posts: 306
Likes: 380
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Nester
Sept 4, 2023 11:13:58 GMT
Post by firedog on Sept 4, 2023 11:13:58 GMT
Really difficult to get a slice of any loan at the moment. Today's filled in seconds (or I presume it did: the website froze). Same story last week.
Not sure it's good for the long-term health of the platform to have loans grabbed, in one case, by just nine investors – smaller retail investors will end up withdrawing their balances.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Nester
Feb 2, 2024 17:40:18 GMT
Post by littleoldlady on Feb 2, 2024 17:40:18 GMT
Can*** Hill due to repay this month. N indication from N as to status. I cannot see the property on sale anywhere.
Later: Redeemed OK
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Nester
Feb 27, 2024 16:02:30 GMT
Post by littleoldlady on Feb 27, 2024 16:02:30 GMT
Received this:
You may have received an email regarding the Opportunity known as Commercial Road Portsmouth, which may require an extension of up to 3-months, to finalise the refinancing of the property. It is possible this Opportunity may redeem earlier than the 3-month extension. Your investment in the current Opportunity is due to mature on 28 February 2024. Following our due diligence, we have adjusted the terms as follows for the extension: 1. A 3-month extension, maturing on 28 May 2024. 2. Have an increased Investor profit rate of 9.8% 3. All security retained, and profit to continue to be serviced from the rental income of the property. Please respond to this email so that we can record your decision on whether you wish to continue your investment for the extended period or if you wish to have your principal amount returned to you on the redemption date of 28 February 2024. Please respond by Tuesday 27 February, 12pm.
I replied saying I wanted repaying on 28th Feb. and got this:
We will be in touch soon with confirmation of the extension (and let you know when to sign the contracts), or if it fully redeems, in which case the funds will be returned to your e-wallet account.
I am confused.
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firedog
Member of DD Central
Posts: 306
Likes: 380
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Nester
Feb 28, 2024 9:59:36 GMT
Post by firedog on Feb 28, 2024 9:59:36 GMT
No insight to offer on the update, but Nester do offer a quirky secondary market if that's any comfort.
I say quirky because, having had enough of being unable to invest (see post above) I thought I'd just sell my remaining investment. Putting it on sale seemed to go smoothly (you could see it was available on the main investment page), but then it disappeared after a couple of days. I'd withdraw it and put it back on sale - the same thing happened.
It was only at the end of the month, immediately following an interest repayment, that I got a message indicating a successful sale. I'm presuming prospective secondary market transactions are held up until that interest payment (but maybe that's just how it worked in my case). The good news is that Nester must be the only P2P platform I've had experience with that didn't charge a penny for the transaction.
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