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Post by ruralres66 on Nov 8, 2016 15:57:34 GMT
I contacted Kadhim, thanking him for his article. "Thanks for casting your welcome critical eye on the RS developments. For us mere ordinary lender morals, it helps us show due diligence..." He's replied, "Thank you for the message. Always re-assuring to know people are actually reading this stuff."Who needs a RS rep when we have a "real deal" journalist?!
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Post by ruralres66 on Nov 7, 2016 10:56:37 GMT
I left Z in preference to RS for this very reason on 2014..... nothing changes it seems.....
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Post by ruralres66 on Nov 7, 2016 10:52:38 GMT
Gosh,very sorry to hear this news westonkev. Your frank, informative responses here boosted my confidence in RS - specifically in the calibre of its personnel, heh - to the point where they have the lion's share of my p2p money. Thanks for all the information and the posts. Some of them were very funny Best of luck wherever you're off to. I second that! I embraced RS and Z in 2103, mainly to test the water due to growing frustration and dissatisfaction with all other saving and income vehicles. I ramped up my investments over the next two years, finally in early 2016 committing rather too much and exposing myself, I felt, to too much risk. This was due to the fact that , trying as as best I could , I didn't properly understand how to show due diligence and find the necessary information. I very quickly in 2014 showed a preference to the RS model over Z however. When push came to shove in the late Spring this year, I found this forum which has helped me enormously. Having direct contact with reps likewise. I felt it was a win win situation. I have learned a lot from the comments and collective wisdom here. At last I feel comfortable with the approach to securing an income and the levels I now have invested. Without the forum and WK, I might have been forced to effectually withdraw everything. ...and I would have been spitting teeth at the alternatives FCA on offer........
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Post by ruralres66 on Nov 6, 2016 19:02:05 GMT
Belt and braces, I have posted this here as well. 15 minutes ago jlend said: www.p2pfinancenews.co.uk/2016/11/03/ratesetter-interest-buffer/Just a news story on the recent announcement "In the event that the provision fund runs out, the firm estimates that there is a £30m “interest buffer” sitting beneath the fund. This figure equates to the lifetime interest owed on existing loans, with a discount ("discount"??) applied by predicting how many loans will repay early or not at all." So, how will that be calculated? How can you predict in a crisis? More info needed, but I am pleased the forum and industry pundit concerns at last being debated and responded to by RS. Will westonkev review his running for the hills threat?!
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Post by ruralres66 on Nov 6, 2016 18:58:50 GMT
"In the event that the provision fund runs out, the firm estimates that there is a £30m “interest buffer” sitting beneath the fund. This figure equates to the lifetime interest owed on existing loans, with a discount ("discount"??) applied by predicting how many loans will repay early or not at all." So, how will that be calculated? How can you predict in a crisis? More info needed, but I am pleased the forum and industry pundit concerns at last being debated and responded to by RS. Will westonkev review his running for the hills threat?!
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Post by ruralres66 on Nov 5, 2016 17:24:40 GMT
Oops, that's just the type of flippancy I was talking about. can be completely ignored... Now you have REALLY got me worried, as many a true word is said in jest....... for the more learned and literary minded....a version of this appears in The Cook's Tale by Chaucer: "Ful ofte in game a sooth I have herd saye!".[1] James Joyce combined this sentiment with the similar adage of in vino veritas to coin the phrase in risu veritas.[2]
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Post by ruralres66 on Nov 4, 2016 15:22:29 GMT
I thought he was senior, I stand corrected, but he did inspire a certain confidence when I spoke with him in London at a talk! He does put his name to the blog though so is accorded a degree of responsibility, surely? It would be very useful to have a management hierarchy chart on the RS website like the US one for FC I think it was.
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Post by ruralres66 on Nov 4, 2016 9:16:07 GMT
What should be considered by RS is an assigned CS rep on this forum. The lack of payments issue did resolve and any panic stations was avoided as we shared our collective experiences. If you try to ring RS there are now some delays in getting through due to overload of staff.
Surely it is both cost effective and makes good business sense to use this forum, which has some gravitas, to get communication out more efficiently?
RS use the term "Expert lenders" do they not? Those on the forum are such and RS's weathervane fail or foul!
Come on RS, wake up and formalise a CS rep on the forum...........saving both you and us time and trouble. Luke M is senior enough and does the blog he would do! I will ask him.
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Post by ruralres66 on Nov 2, 2016 12:01:57 GMT
I am aware of some discussion on a particular P2P site recently of opportunities in Suffolk where I live. This may be of interest!
<link to bbc news program identifying development site redacted>
"Detailed information on S******* at G**** B********* near Ipswich, has been lodged to safeguard outline planning consent which was granted in 2008.
Developer G****** S******* blamed the delay in building on the recession and ecological matters including newts, badgers, bats and crayfish on the site."
"I wouldn't have followed it for the last 15 years and I wouldn't have spent everybody's money on it to get to where we are today.
"And I certainly wouldn't have spent the last three months and £2.5m on getting what the council needs."
Note the developer doesn't mention the "can of worms" which also impact on this....ie planning permission potential hitches...
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Post by ruralres66 on Nov 2, 2016 11:50:56 GMT
Points you make are valuable and comments well made Chris. It's a case of,
“You can please some of the people all of the time, you can please all of the people some of the time, but you can’t please all of the people all of the time”. John Lydgate of Bury (c. 1370 – c. 1451)
However, informed and interested "retail" lenders, like the ones on this forum, have every right to be suspicious and treat what they are told by "corporate" with a huge pinch of salt! It's only due diligence on their part after all.
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Post by ruralres66 on Nov 1, 2016 19:49:38 GMT
Is anyone else experiencing problems please?
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Post by ruralres66 on Oct 24, 2016 20:51:23 GMT
Yes there is a 1 year market but it is not an income product. I.e full repayment of interest and capital on maturity whereas the 3 year is monthly interest and capital repayment loan so not easily interchangable I suspect. I was given quote for a return of £33 capital plus 15p accrued interest. Just checked again and same result My "considerable" 3 year pot,...... Sellout estimate; Capital returned £32.72 Outstanding Interest £0.04 Exit Value £32.76 Fees (£0.08) Total £32.68
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Post by ruralres66 on Oct 23, 2016 18:18:51 GMT
I don't see why there's a need for a CPO/CTO and a VP Engineering. At a guess, one is focussed on strategic direction, one on the detail of implementation. I'd also guess that there's a certain amount of job-title-inflation going on there. www.fundingcircle.com/us/about/team/
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Post by ruralres66 on Oct 23, 2016 10:27:14 GMT
Whilst the editorial direction is obviously biased (e.g. heavily pro brexit, pro closed end funds, pro passive funds) and you have to wonder whether they really understand the demographics of their readership, I find more than enough original comment and and analysis to justify the subscription. For example the interview with Sir Mervyn King shortly before the referendum helped clarify some of my strands of thought. What turned me was just that most retail investors lose money (me included, but not - so far- in p2x), they are singing siren songs. Tweet and bleet!Make a contact........ Samir Desai @samirdesai01 CBE. Love sports, business & technology. CEO & Co-founder of Funding Circle. All views here are my own. London fundingcircle.com Joined February 2010 or make contact with Eric Daniels..... www.telegraph.co.uk/business/2016/09/09/funding-circle-calls-up-another-financial-crisis-veteran-as-form/
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Post by ruralres66 on Oct 22, 2016 12:07:57 GMT
Many thanks for this novel and useful analysis. No information is too much information in these volatile and uncertain times.
If nothing else, it confirms the gut feeling approach many of us resort to!
Zopa have just dropped rates again?, in response to BoE drop and other matters.
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