muh3
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Post by muh3 on Apr 11, 2017 14:10:45 GMT
And it looks like Lending Crowd have listened - just received an e-mail Self Select ISA launching in May. Yes, some good news. I hope the current portfolio can just be switched to the ISA.
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muh3
Posts: 52
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Post by muh3 on Apr 10, 2017 23:03:29 GMT
Raising the fees less than a year after I started, and having struggled to get my funds invested, full deployment of those funds being a very occasional rather than regular feature - I think I know where this is leading me. Good luck with deploying your £100K+ accounts, Stephen. Oh, and can you clarify on fees please. 1.5% p.a. on investment amounts up to £25,000 1.25% p.a. on investment amounts from £25,001 to £100,000 1.0% p.a. on all invested amounts over £100,000 Example: Does an account of £50K have fees of 1.5% for the first £25K + 1.25% on the second £25K, or is the 1.25% on the whole £50K? Similarly, does an account of £100,001 have fees of 1.5% on the first £25K + 1.25% on the next £75K, then 1% on the last £1? ... (Meaning basically that an account of £100K would be paying a composite fee of 1.3125%) or, is the 1% fee on the whole £100,001? Good question. I'd also like to know the answer to this! Adding to the confusion, what about the investor holding 25,000.50? Joke aside, what are people getting for their increased fees?
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muh3
Posts: 52
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Post by muh3 on Apr 10, 2017 22:07:17 GMT
So you still have enough confidence in the platform to continue investing; so did I 6 months ago! Presumably you haven't suffered significant defaults or other problems - how long have you been with LC, and do you have a strict selection criteria? I only started 5 months ago. I don't really know what i'm doing , so I have gone for diversity instead of selection (103 loans at the moment). I have got 3 loans in recovery at the moment, guess we need to wait and see how it goes. I really like the platform, despite the known issues. All I buy at the moment are either high rated ones on the secondary market (you really need to keep looking at it, ones they are on they are gone quick) or in new ones at top end rates.
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muh3
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Post by muh3 on Apr 10, 2017 11:30:14 GMT
Apologies for my doubts muh3 ; this loan pre-dates my days with LC, and kaya 's explanation is something I wasn't aware of!
It's interesting that the blended rate - which doesn't vary over time - is 7.68%. As it's for £53.5k there couldn't have been many investing at retail rates; and even then the underwriters must have cut their return to the bone! No problem, I had to look 3 times hope some more like this will come up
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muh3
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Post by muh3 on Apr 9, 2017 9:01:28 GMT
Don't think that could happen; A+ are offered at 5.95 - 9.95%.
What loan is it? (Either PM or disguise the name!) The one I'm thinking of is a B+
C****E M*******S UK prntscr.com/eu8jaz
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muh3
Posts: 52
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Post by muh3 on Apr 7, 2017 15:58:44 GMT
I'm not too reactionary, I give things a chance, and was going to let things run down towards an exit by the end of next year, but after yet another default, I've had enough. The whole lot is up for sale, and I just hope the bungs can keep me ahead overall. Hang on and wait for the next default? No.The sooner out the better. I believe I bought 4 parts from you How did you manage to get 14% on a A+ loan?
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muh3
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Post by muh3 on Mar 22, 2017 14:23:03 GMT
I probably have the same 5 red ones and share your frustrations.
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muh3
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Post by muh3 on Mar 20, 2017 14:47:51 GMT
Has anyone had recent experience on how long it takes LC to 'approve your bank details' - I just tried making my first withdrawal....... It will be quicker if you send them a message.
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muh3
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Post by muh3 on Mar 20, 2017 12:17:04 GMT
Doesn't look like the second 72h have resulted in a payment.
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muh3
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Post by muh3 on Mar 15, 2017 14:28:27 GMT
time will tell (don't lend to a solicitor, lesson learned)
The biggest issue I have with LC is the response time and the quality of the commands. For example the company B* S******* is no longer trading. This should have been mentioned to the investors.
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muh3
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Post by muh3 on Feb 24, 2017 15:48:49 GMT
<EDIT> if that was it and all the rest goes up in smoke that's an XIRR of 7.97% as of today so I guess it hasn't been a total disaster. Does this include the promotion or is this just the interest?
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muh3
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Post by muh3 on Feb 17, 2017 17:36:03 GMT
We regret to advise that we have been informed that the Director is taking steps to place the Company into Creditors' Voluntary Liquidation. In light of this we have instructed our legal representatives/recovery agents to take all steps necessary to protect the investors in this loan with a view to ensuring the best possible recovery outcome.The meeting of the Creditors will take place a week today. The security we have in place comprises a Bond and Floating Charge and the Personal Guarantee of the Director.
We will advise you of further developments in early course.
Oh well, first one for me.
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muh3
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Post by muh3 on Feb 15, 2017 17:07:39 GMT
Has anyone spotted the withdrawal fee for the whole amount withdrawn whether uninvested or not? Suposed to be fully flexible allowing you to put in and take out money in the same year. Takes 6.5 down to 5.5 ish for those wanting the wrapper but after higher rates on the platform. You mean 6.0 to 5.0 ish. Also the 6% is a target rate which can be higher.
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muh3
Posts: 52
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Post by muh3 on Feb 15, 2017 12:48:51 GMT
Unfortunately, particularly due to LC's track record of (not) enforcing conditions, whatever that means doesn't provide much reassurance!
Anyway, HDHS's answer to my question that the loss-making divisions were closed-out before March 2015 means that the company still isn't making any profit, so how will they make the repayments? They did actually turn a profit of 4443€, however the company looks insolvent with the current director loans. It will take about 50 year (without growth) to get the company into a positive net worth. A company like this should not get a B+ rating in my opinion.
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muh3
Posts: 52
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Post by muh3 on Feb 7, 2017 16:54:12 GMT
Alternatively, I can tell you the five loans I am stuck with and wipe them out. In that way you will definitely buy my part. Yeah and now you tell me one of them is T........I LTD I don't think I have the needed funds to do this anyway, even if i would, I would probably look elsewhere to invest them.
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