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Post by veganline on Nov 2, 2023 14:05:42 GMT
Happy ending! They invented a special link to verif.me in order to verify me on a post-brexit UK passport. I can now make my own withdrawals (they did a couple of manual ones before). I don't think I can re-invest but that's not such a big deal.
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General EUR P2x Discussion
Lendermarket
Sept 16, 2023 14:34:56 GMT
Post by veganline on Sept 16, 2023 14:34:56 GMT
Does anybody know what is happening at Lendermarket? [see the end of of this post for the answer: they had trouble with a post-brexit passport as ID but allowed withdrawal after a work-around after months]In their own words, after over a months' delay paying anything or allowing full logon: "I've withdrawn today all of your Available Funds - €10,192.04. I would expect this to reach your account today ...
This leaves the following balances:
Account value: 241 804.18 €
- Invested funds 100 363.28 €
- Available funds 0.00 €
- Pending payments 141 440.90 €"There is no sign of the €241,804.18 on the screen I'm allowed to see with a partial logon Diary of events uk.trustpilot.com/submitted/review?correlationid=034e889a-a5cd-42ed-9fdc-223b55b3b268John...... -------------------------------------------------------------------- Happy ending! From memory this is the story My UK passport expires and I immediately get blocked from most of my account by screens saying I am not yet identified. I get a new passport - a post brexit one - and try to register but the Verif.me software claims not to recognise UK ID, even though Lendermarket is still advertising for UK customers. After a pause for thought, the customer support staff ask if I have any EU ID - no - and verify me manually from a scanned water bill. They organise two manual payments over about 2 months. Very polite messages saying that this is being dealt with at the highest level etc. Then I get a long private link to Verif.me which I don't manage to use - maybe I got something wrong or let it time-out. Support questions go un-answered. After a month or so I go back through emails, spot the problem with the Verif.me link, and write to ask for help. I find the exact email of the support staff person who dealt with me before. He confirms that this is the problem, and sends me a new link. This time I am verified with my 2023 black UK passport and able to log-in enough to press "withdraw". Withdrawals work. This is now about 4 months since the first ID problem and a lot of money that could have been on auto-lend in that time was not, because, obviously, I wanted it out, but at least I am able to get big chunks of money as they become available. I was thinking of keeping some money in Lendermarket but can't find any auto-lend or lending screens. Maybe I no-longer have the kind of ID that they need for new investment, or maybe I have just been too much hassle as a customer, although they did thank me for politeness and patience. Either way, I can withdraw un-invested money now.
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General EUR P2x Discussion
Lendermarket
Aug 24, 2023 17:37:39 GMT
Post by veganline on Aug 24, 2023 17:37:39 GMT
Good news! I got a reply asking for a utility bill.
Read alongside a few one star trustpilot reviews, this suggests payment with invented delays rather than default. Some of the Trustpilot 1* reviews may be misunderstandings or tactical, perhaps to advertise something. Their word "scam" doesn't apply, for me, the way I use the word, as this is a genuine business that has been running a few years but makes excuses to delay payment as a lot of businesses do when they're short of cash. Still a worry to anyone lending, but not as bad as lending to a confidence trickster or scammer.
There may be a reason why every UK customer is refused re-verification on verify-me , while the site says it still accepts UK customers and other sites do not need re-verification of passport ID. There may be a reason why they ask for a utility bill after a few days' wait by email. It would be weird, but there may be a reason!
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Post by veganline on Aug 23, 2023 20:05:54 GMT
2023: Are they making it hard to withdraw for other people as well?
At the moment I can't log-in to withdraw a very large amount of money. Their customer service warns against repeated emails and says they usually take up to 3 working days to reply. They have had five working days: no reply; no way to withdraw money. They have no phone number that I can find.
The way this began was a passport expiring. The site immediately treated me as someone without ID, even though I had invested a lot of money with them. When my new passport arrived, I though this would solve the problem, but no. Someone on their staff has set their Verify.me software to deny verifications from the UK, in my case at least. Worrying to find money un-withdrawable, five days' silence, and apparently game-like behaviour. Worrying to see Trustpilot reviews with similar less-detailed stories.
I hope they see this and ease the case.
If the worst happens I hope to find any class action or lawyer good at extracting money from them.
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General EUR P2x Discussion
Lendermarket
Feb 1, 2022 19:16:08 GMT
Post by veganline on Feb 1, 2022 19:16:08 GMT
My observation after 6 months: - XIRR 12.16% (Range: 7.8%-12.16%), expect higher return from the latest 14% loans. Does anyone know what to google in order to find guides to calculating returns on spreadsheets? I can download the Lendermarket report as a spreadsheet. I have invested in bits, rather than just once. I'm used to Google Sheets and a bit of Libre Office Calc when feeling adventurous. Reason for asking is that Lendermarket returns are puzzling. I've invested in just the riskiest investments. www.lendermarket.com/summary has "15.1%" in big bold letters, but that's the amount asked-for, so far as I can tell. Underneath it says that half the investments are delayed; paying late, but not late enough for buy-back. www.lendermarket.com/summary shows delayed payments at a tenth of on-time payments, so not much. Suppose that half the accounts are late at any one time, contributing only a tenth, the return should be 7.505% + 0.75% = 8.25% ish The trouble is that I've invested bits over time, and newer loans default less than older loans, so these rules of thumb are probably wrong. Also, spreadsheets came-out after I left school and I teach myself rather slowly how to use them. So: back to the beginning: what should I google to learn how to use a spreadsheet like Libre Office of Google Sheets to calculate returns, as downloaded from www.lendermarket.com/statement "download report" ? Maybe I could ask Lendermarket this question but I am not sure how! Any help appreciated
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Post by veganline on Aug 25, 2018 16:02:12 GMT
seedrs.com/secondary-marketJust to update some posts at the top of this thread from a year or two ago: Seedrs secondary market now opens for a week on the first Tuesday of each month, we we can still buy and sell Welendus shares with luck. Crowdcube, usually Seedrs twin and rival, has talked about a secondary market but still not set one up, so I have stopped experimenting on their site. Assetmatch.com is a newish rival to the Alternative Investment Market for comp anies with "£10m turnover and 50 shareholders"; I don't know any more about them
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Post by veganline on Jan 24, 2018 15:48:02 GMT
I don't see anywhere to make suggestions to FS on their web site, so I'll post here. They say they'll use a broker to sell the boats, but only mention one add in Classic Boats mag, presumably also online. They state that auctions would attract "the wrong sort of customer", without further explanation.
I have only spent a couple of minutes on each of these searches, so they should be easy to repeat.
Search engines found me a thread listing with some other advertising sites. The thread begins "I have decided it is time to sell my Scarborough Sloop (30' larch on oak) in favour of a GRP Folkboat", and lists several specialist sites. Cut and paste the quote to repeat the search.
Search on for-sale.co.uk for "yacht sail boat" found a few people trying their luck on less specialised sites - gumtree ebay and preloved.
I wonder if the broker, or FS themselves, might cut-and-paste onto some of those sites as well? Maybe there is a good reason not to, but it would be good to state it if so. Any reassurance welcome
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Post by veganline on Jan 24, 2018 15:32:32 GMT
I've just logged-on for my tax return and - imagine my surprise - Funding Secure cannot value or sell a boat collection - loan 1275810982 renewing 7172738078. Oh dear. I'll start a separate thread.
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Post by veganline on Aug 10, 2017 17:17:31 GMT
I went for a "yes" for the same reason - the line about no merit in chasing. If anyone wants a copy of some Adobe graphics software then Str******ns might still have the licence and email it in hope of a "yes", if there is some way to get in touch. I can't think of any other assets to ask for in return.
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Post by veganline on Jul 20, 2017 9:08:14 GMT
If that is the case why are the rates so high? And why are the expected defaults so high? The cost of ... credit reference checks ... same for a 4 week loan ... as a 5-year loan. Just an idea for Money Platform with no need to reply. Your applicants can get free Callcredit data via Noddle.co.uk , which is the same thing. If you asked each applicant to provide a cut-and-paste of their noddle report, then you'd have something to go-on before paying for Equifax (or further Callcredit) data. I don't know exactly what I mean in detail - just an idea off the cuff.
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Post by veganline on Apr 29, 2017 18:45:52 GMT
For crying out loud - Of all the things to find a vegan substitute... Hmm... I need a brandy (which is vegan-friendly, I'm thrilled to say) Talking of vegan substitutes I have some pretty good DM-style boots made in UK working conditions with strong supple absorbent tops. Just try not not to think about the "V" word. I'm sure they go well with cigars and brandy
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Post by veganline on Apr 29, 2017 14:09:58 GMT
I picked an unfair example - Primestox haven't yet funded vegan caviar (which isn't bad, I tried it) but they have done another seaweed-based snack. The list so far is - Crisps, seaweed
- Smoothies enhanced with superfoods
- Juice, cold pressed
- Fruit bars
- Vanilla paste tubes
- Chips, frozen, sweet potato, battered
- Sauce, salza
As an invester I've tried to list ways of flogging this stuff if caught with too much to eat. You are allowed to bid for tiny amounts, which I guess is what most people do, but what if you own 250 packets of frozen chips as security?There's a list of ideas on my blog post but it boils-down to - Somehow someone somewhere comes-up with an offer for all or some of the investers
- Takestock.com small ads might shift a bit
- Approvedfood, ClearanceXL or the like might make an offer
- Caterers and retailers have more options
Otherwise, I'm intreagued that the site seems to have got going on not much money with cheap crowdfunding software. Maybe someone has an idea for some other kind of stock finance that could be done the same way.
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Post by veganline on Apr 14, 2017 9:53:02 GMT
My review veg-buildlog.blogspot.co.uk/2017/04/just-invested-few-tenners-in-primestox.htmlThis outfit appeared on a google ad, with next to no references on the web, so I had a look and experimented. It's based on crowdfunding software like the free www.selfstarter.us/, but the funded items are loans at a particular rate of interest, allowing the software to work for P2P lending. The founder also hired a user interface designer to make it smart and self-explanatory, and used I guess his accountant's address in central London to make the business look upmarket. Security seems only to make sense if you like the idea that ten pots of vegan caviar valued at Fortnum and Mason prices might turn-up on your doorstep one day, if a loan defaults, and the site is laid-out to encourage tiny investments. You can also fund 100 pots of vegan caviar if you want, or seaweed, but I don't know what you'd do with them if they arrived on your doorstep. Interest is a couple of pounds per investment over three months, which works out at rediculously high amount in annual percentage rates. I imagine that food companies hope for a bit of public relations in exchange for the loan as well as the money itself; that they are putting their name about among foodies. That's the gist of it. My verdict is that it's worth a flutter on small amounts of money for people who enjoy this sort of thing, just to see how it goes. John Robertson
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Post by veganline on Jul 1, 2015 14:24:21 GMT
Hi, thx both for your feedback, rumdoodle what do you mean by "good practice" Interestingly we've had verbal commitment to fund 100% of the loan already! so it looks like we've well and truly lit the disruptive torch paper Maybe a screen-shot of the land registry entry is all that's needed, or maybe something more. I hope a lawyer could advise us how to set-up a fool-proof system of evidence presented to share with lenders, so there's no need to check each case. Going-off on a tangent. If lawyers are needed to double-check each case and give assurance, I read that "virtual law" is a good google search to find firms of good lawyers with low overheads, although Mantis Law might be one such for all I know. A legal firm with a city centre office and a hugely well-paid layer of senior partners shouldn't be necessary. Getting back to the point, I can't think of anything against land loans.
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