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Post by bikeman on Apr 8, 2020 9:28:35 GMT
Got the payment. Overall I am quite pleased with the outcome. If this is the final payment then overall I got 65% recovery on my investment in these loans which was more than I was expecting The last payment I received as 23rd Dec. When did you receive a payment?
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Post by bikeman on Mar 31, 2020 18:53:47 GMT
I sincerely hope they're not going to charge me a fee for my money tied up in those shitty IL* loans
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Post by bikeman on Mar 31, 2020 18:12:03 GMT
Seems like only a few days ago (13 march) I got an email from AC boasting that they had secured £15M investment from British Business Investments, a commercial subsidiary of the British Business Bank..
Now I get an email says we're not keeping our commitment to you.
No surprise there then.
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Post by bikeman on Dec 26, 2019 12:50:56 GMT
They have given a repayment schedule of £1m then four payments of £750k, total £4m.
Somewhat short of the £4.9m in these loans.
On this payment schedule the final 20% wont be paid?
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Post by bikeman on Dec 26, 2019 12:36:48 GMT
I received 20% approx of the remaining outstanding amount rather than the original loss.
I was expecting 20% at each payout so that I would received all by the 5th payment on 30 sept 2020.
This now doesn't seem to be the case.
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Post by bikeman on Dec 5, 2019 14:21:45 GMT
Good morning, The functionality to view the options is now live in the member area. You can see the options by logging in, selecting "Account Settings" from the options at the top of the screen and clicking the pencil icon next to the "Classification" heading. Thank you. Why are Ratesetter expecting investors to categorise themselves without providing an explanation of each category of investor?
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Post by bikeman on Dec 5, 2019 14:18:36 GMT
landbayceo Why not more notice? What a shabby way to treat your investors. I hope you treat your non-retail investors a bit more professionally. An example of why regulation needs to get a lot tougher on p2p companies. 100% payout of capital and interest and no losses; not really that shabby. Arguably it the increasing regulation which has led to this decision. If they locked you in to some run off period, I imagine that you'd be even angrier. An immediate repayment seems like a reasonable solution. Increased regulation has a cost. And the publicity and valuation of P2P doesn't seem to be worth it for anyone with other options. Marx had it right: "I don't want to lend on any platform that wants me as a lender". If this was actually due to regulation changes, they would have know about them coming. Let's face it they didn't decide today did they. And having made their decision they didn't actually need to just dump everybody.
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Post by bikeman on Dec 5, 2019 13:43:02 GMT
I started a thread on this forum just after we sent an email to our investors. To clarify - we arent closing but becoming institutional only - over the last 12 months over 90% of our mortgages have been funded by institutions.
More information can be found here:-
blog.landbay.co.uk/blog/2019/11/28/dear-retail-investor
landbayceo Why not more notice? What a shabby way to treat your investors. I hope you treat your non-retail investors a bit more professionally. An example of why regulation needs to get a lot tougher on p2p companies.
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Post by bikeman on Dec 5, 2019 13:17:18 GMT
This is a fkin joke.
It's one thing to change business focus - it's another to make return funds within 2 hours of the announcement.
Why no notice period?
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Post by bikeman on Nov 5, 2019 19:18:17 GMT
They're insisting this is done by 9th Nov - so what happens to existing investments if this is not done? Why the deadline? Why not just ask for a declaration when a future investment is made? I think existing investments are allowed to roll on regardless. You just can't make new investments without classifying yourself. It's the date I don't get (should have been 9 Dec not 9 Nov). Why set a date for existing investors? If I want to invest more at a later date surely I'd just do the declaration then. It's like the 9 Dec is some sort of cut off for something to happen.
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Post by bikeman on Nov 5, 2019 10:16:16 GMT
They're insisting this is done by 9th Nov - so what happens to existing investments if this is not done? Why the deadline? Why not just ask for a declaration when a future investment is made?
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Post by bikeman on Oct 3, 2019 9:14:47 GMT
Stonk yes I did mean order numbers. Thank you for the full explanation.
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Post by bikeman on Oct 2, 2019 17:12:20 GMT
Looking back over my transaction history. Over the past 12 months I have a large number of lend orders with no associated contract number.
Are others accounts like this? Why?
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Post by bikeman on Oct 2, 2019 16:18:43 GMT
I'll try again.
I can clearly see that the account's reinvestment settings are reinvest both capital and interest at market rate.
However, I now have a large amount on market as nothing has been reinvested for over two weeks. The amount is increasing daily. Let me be clear NO NEW LOANS HAVE BEEN CREATED FOR OVER TWO WEEKS.
If I edit the amount on market it says 'your rate 5.5%' - clearly this is higher than the current market rate and would explain why nothings getting invested.
This is clearly at odds with the reinvestment settings.
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Post by bikeman on Oct 1, 2019 19:15:49 GMT
Update now coming Friday 27th. I think we really are getting there - slower than any of us would like, but personally, I reckon we'll have some good news by the close on Friday. Well aren't you the optimist. Still feeling that way?
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