shimself
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Post by shimself on Oct 30, 2016 11:57:37 GMT
In what looks to me like another piece of evidence that LI want to get shot of pesky personal investors, they've now scrapped auto-withdrawal.
Given the £100 minimum investment and the average 0.5%ish per month interest you'll need to have 20K on the platform to avoid interest drag.
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upland
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Post by upland on Oct 30, 2016 14:47:23 GMT
Why do you think that they want to get rid of personal investors ?
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shimself
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Post by shimself on Oct 30, 2016 16:35:25 GMT
Why do you think that they want to get rid of personal investors ? Because they don't care about the website, thye have no idea how it's used, because they have stopped autowithdrawal, interest rates dropping. I think all they know and care about is big hitters and institutional investors. They used to have 10K pwr loan minimum investment, and that remains their comfort zone.
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upland
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Post by upland on Oct 30, 2016 17:00:01 GMT
I must certainly agree that their handling of the website 'upgrade' is bizarre and begs the question - why ? But they have only recently reduced the minimum limit to £100 which presumably gave them a raft of new smaller investors. I would have thought that having few investors leaves one more vulnerable to their whim. As I understand it LI deal with a preferred group of developers so they would end up as middleman between large associates making them almost superfluous ?
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archie
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Post by archie on Oct 31, 2016 14:23:27 GMT
I replied to the email regarding auto-withdrawal and sent them the 'Opinions of new website layout' link.
They have taken a note of the thread details. If enough people complain they might fix some of the problems.
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Post by Icarus Unleashed on Nov 1, 2016 17:15:38 GMT
I must certainly agree that their handling of the website 'upgrade' is bizarre and begs the question - why ? But they have only recently reduced the minimum limit to £100 which presumably gave them a raft of new smaller investors. I would have thought that having few investors leaves one more vulnerable to their whim. As I understand it LI deal with a preferred group of developers so they would end up as middleman between large associates making them almost superfluous ? Not entirely. I think that even as a 'middleman' between two groups of large associates LI would still have a role to play. The 'big money' associates are relying on Li to bring them viable and profitable property investments, if they knew exactly what to target and how to structure each deal they could re-produce LI's entire service function in-house. Likewise the 'developer' associates won't be given the time of day by the big money unless they have someone to vouch for them and present their deals in the best light in an easily understandable way, that's where LI comes in....
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shimself
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Post by shimself on Dec 1, 2016 8:25:32 GMT
Looks like a change of heart, I just got an auto-withdrawal of under £100.
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archie
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Post by archie on Dec 1, 2016 8:44:33 GMT
On the old system interest was only paid at the end of the month.
On the new system repaid loans pay interest on the redemption date.
It appears only the monthly amounts are considered for the auto-withdrawal so some interest might be left in the account.
I can see why as someone might have already withdrawn that separately. The old way was clearer.
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