FC "new lending experience" e-mail

"Are you ready for your new lending experience?"

No I am not and have no intentions of becoming ready.

Cliché loaded bull**** from FC making sure to use the current buzzword, "experience"!

I would suggest opening a separate account for the new set-up by using a different email address, and thus avoid any possibility of cross contamination.

No it won't, it will buy new loan units that average out to 7.5% projected.  It will ignore your old legacy boring portfolio (well thats what they told me).

I'm thunking about that as other people have suggested it as a way of grouping loans together.

It just doesn't feel right, I *liked* picking and choosing, so far it has been interesting and profitable.

Grumble.

Many people have asked where others are taking their money etc for various reasons.

My question is where is the next fun investment bit, I was enjoying playing with loans!

Agree with that but since the announcement they have an extra £5m invested in loans from the retail sector so the money is still flooding in.

Hi OG.

We will never know as FC will never tell anyone. We do know that new cash will not be entrusted to the now dead "highly experienced property team".

The new profile picture is great.

Best wishes, SXLR

I for one to degree happy with the change. But I am not at all happy with funding Circle. I wanted to express these views on the funding circle forum but have just discovered it has been shut down and I wonder why that was maybe so that we couldn't express our views any more. When I joined funding Circle I didn't quite understand why they allowed flippers and people on the forum granted probably not funding Circle employees told me that these individuals were necessary to oil the works funding Circle which I totally disagreed with. It seems to me that there has always been more cash than loans and that all the flippers were doing was speculating reducing their own risks by selling the loans on immediately after they had purchased them and reaping high rewards. If you are turning around alone every 2 weeks with a 3% markup that is some pretty good interest at virtually no risk. But I was told this was necessary. I was further alarmed when funding Circle announced that it was planning an API this of course would not give people like me access to funding circle via the API because the API on its own does nothing for me I would have to use the API within software I would have to develop which was not economically feasible for somebody with my amount of money. It would however be yet another tool that would allow people to speculate and abuse the system which funding circle seemed highly in favour of. When I recently contacted funding circle because of technical problems we somehow ended up on the topic of how it worked and I was forewarned that the change was going to happen. Because now apparently funding circle doesn't like flippers any more. When I brought up the subject of the API and that I was confused about the fact they were trying to shut out people like flippers because they were once developing an API they denied this. Funding circle are liars. I specifically remember them announcing an API or at least an intention to develop an API. These people are absolutely clueless, they have brought people through the doors on the promise of a fairer and more morally acceptable way of lending money yet they have done nothing but allow things to carry on just like at any other stock exchange and then retreat from those viewpoints was pretending they never held those views. I'll be glad to finally be able to get hold of some higher rate loans without having to pay somebody for doing absolutely nothing other than abusing the system to buy the loan faster than I ever could using software that I can't afford to develop. I am of course open to alternative lending platforms as funding circle does seem to not understand certain things. Their website is awful to navigate and it is very difficult to get information out of the website about your loans unless you are in fact running software to manipulate the website with. The whole setup seems to be in favour of such people yet funding circle deny they favour such people when they clearly do, perhaps not intentionally but certainly through their incompetence they make life-small lender and allow the big lender to run riot. Yet their mission statement was to allow the little guys like me fair access when in actual fact there is no such thing on funding circle. The abolishment of loan sale transaction fees is most welcome as it would seem funding circle has moved into a position where I would make exactly the same amount of interest I am making already but I will be able to move my money in and out of funding circle more smoothly and slightly more like a bank account. Except I will be making some interest. I have also never understood practice of removing the risk banned from a defaulted loan. What are they trying to hide is to mark I cannot actually understand which category of loans I have most defaults in because I'm not allowed to to know this information about my own money and loans it is taken away from me by funding circle. I'm starting to suspect that the aid loans in a star loans default far more often than funding circle would admit but of course I can never prove that because the proof is removed.