smee
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Post by smee on Jun 20, 2014 2:04:58 GMT
The inaccuracy of the computer system is very disconcerting. In spite of another recent alteration to the account dashboard display there is still no accurate recording of how much money I have invested in live loans. Loans are still being shown as 'live' despite having been repaid. There have been other errors along the way, and there is an impression of new software frequently being implemented on the platform untested. These problems do not inspire confidence, and whilst I welcome your move towards the promised secondary market, I would feel happier if i could put more trust in your basic systems first.
June 23rd EDIT: I see that the account dashboard has been amended and info is now correct.
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shimself
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Post by shimself on Oct 1, 2014 12:07:53 GMT
About receiving interest and withdrawing money
A typical loan tranche earns something between £50 and £100 every month. There's no point in leaving it in my account with you as it's insgnificant compared to the minimum 10K investment in a loan. It would be better if you just transferred it back to my bank please. (And making me wait until the following Monday to make the thranfer just feels a bit, erm disdainful)
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Post by lendinvest on Oct 27, 2014 9:34:27 GMT
Hi shimself,
Thanks for your query, please be aware that you can email us requesting to have your interest payments automatically sent to your bank account every month. Most of our investors reinvest their accrued interests which is the reason we credit online accounts by default.
Many thanks, The LendInvest Team
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shimself
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Post by shimself on Oct 27, 2014 17:10:31 GMT
Hi shimself, Thanks for your query, please be aware that you can email us requesting to have your interest payments automatically sent to your bank account every month. Most of our investors reinvest their accrued interests which is the reason we credit online accounts by default. Many thanks, The LendInvest Team I can't think that's true. The monthly interest payment on a single 10K loan is typically 0.6%, (£60), you would need 160ish 10K loans (a 1.6M portfolio) to be able to invest in a new loan every month. I also find it unlikely your savvy investors leave their money earning absolutely nothing for months until they've built up another 10K Very unimpressed with your reply _____ PS If the long promised reduced minimum investment came into being then it would make sense. But that's been pending for quite a while...
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Post by lendinvest on Oct 28, 2014 17:33:17 GMT
Hi shimself,
Apologies, I should have mentioned that the majority of our investors top-up with the balance in order to reach the minimum of £10K per loan. They're then able to reinvest their interest into a new loan. Alternatively they withdraw it and top-up again when more funds from elsewhere become available to them.
At this stage we're finding a good balance between investors available capital and the deal flow we're making available. So whilst we're working as hard as possible to increase the in-flow of high quality borrowers (which is our main priority right now) we do not have an urgent need to lower our minimum investment threshold. We're planning to be in a very different position early in the new year when we'll be looking to grow our investor base to meet the growing demands from the borrower side of our marketplace model. We urge you to be patient and bear with us and we do also thank you for your continued custom.
I hope you find this response to your satisfaction.
Kind regards, The LendInvest Team
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shimself
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Post by shimself on Oct 28, 2014 22:01:09 GMT
Alternatively they withdraw it and top-up again when more funds from elsewhere become available to them
That's what I was asking you to facilitate
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Post by lendinvest on Oct 29, 2014 15:18:42 GMT
Hi shimself,
This is no problem at all. Please notify us of your preference via payments@lendinvest.com and we'll update your profile. We will require you to quote your full name and unique user reference in this email for investor verification. Please do not provide that sensitive information in this public forum.
Regards, The LendInvest Team
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shimself
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Post by shimself on Oct 30, 2014 21:30:19 GMT
Done thanks
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upland
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Post by upland on Apr 5, 2015 8:18:16 GMT
Hi All
I am new to this board & have been reading this thread with interest. Its been a few months since there has been a post and I wondered what the latest views were.
My position is that I have been looking at Lendinvest mainly because its slice of the 'market' is respectable. I have an account with FC and as property type loans are arriving thick and fast I was trying to see whether the Lendinvest offer could work for me. Their expertise is likely very good but with FC the natural diversification that happens is attractive to me. I do appreciate that the type of property loans from Lendinvest are not quite in the same market as FCs. I think that the return rates look similar so the principal benefit to me would be platform diversification.
Thoughts anyone ?
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Steerpike
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Post by Steerpike on Apr 23, 2015 15:34:36 GMT
LI - minimum investment £1k per loan, returns generally 6.5% to 8%, no CB, term usually 3-12 months, LTV usually 20-75%, immediate interest, secured property only
FC secured property - minimum investment £20, returns generally 8% to 10%, CB 0-2%, term usually 12-18 months, LTV usually 60-75%, interest delayed a few days
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Post by gusgorilla on Jan 26, 2016 2:30:02 GMT
LI - minimum investment £1k per loan, returns generally 6.5% to 8%, no CB, term usually 3-12 months, LTV usually 20-75%, immediate interest, secured property only FC secured property - minimum investment £20, returns generally 8% to 10%, CB 0-2%, term usually 12-18 months, LTV usually 60-75%, interest delayed a few days Could someone help me out with what CB means please?
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bababill
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Post by bababill on Jan 26, 2016 4:41:48 GMT
Think CB refers to Cash Back.
Note LI is now £100 minimum.
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