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Post by mill750 on Aug 30, 2014 10:55:28 GMT
You go on holiday for one week with no internet connection and look what happens !!
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Post by Deleted on Aug 30, 2014 11:46:45 GMT
Yes, if you'd invested £10,000 in PBL8, you would be getting £50 cashback which could have gone towards the cost of your holiday. That will teach you to go away!  |
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 30, 2014 13:33:54 GMT
And if he went to Butlin's, it would have covered the lot!  |
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Post by Deleted on Sept 1, 2014 13:05:45 GMT
Does anyone know if this loan completed this morning?
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Post by savingstream on Sept 1, 2014 13:35:21 GMT
The loan has not completed as yet. When the loan does it will be marked as having gone live on the platform and all cashback will be credited to investors.
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mikes1531
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Post by mikes1531 on Sept 1, 2014 17:13:04 GMT
Or not. Q:When is 6pm not 6pm? A: When you're looking at an SS loan. I've wondered in the past about what happens when they announce a time to end the cashback offer and then the text stays there saying it's available. Presumably anybody who invests whilst the text is still there would get the cash-back. Obviously nobody's sure because I don't think there's been any activity since 6pm. There was some further bidding activity after the 6pm deadline, so I'm not certain why savingstream wouldn't just edit the loan details to state the deadline at the same time as firing out notification emails - wouldn't that be a no-brainer and save any confusion/disappointment? I was one of those who invested on Friday after 1800. I did that only because I went to the website before seeing the email. I did check that the cashback offer still was shown on the website before investing. As you could guess, I wasn't happy when I saw the email. So I complained to SS. Their response to me was as they stated above, and I appreciate them doing the right thing. Hopefully the situation won't come up again. PS. I've just checked the loan details, and they still indicate the loan hasn't gone live yet, so I presume there's been another delay. But I also note that they say... Are those words left over from previous PBL offerings? Or did I miss an opportunity for upfront interest? (I don't remember being asked whether I wanted monthly or upfront interest when I made my investment.)
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Sept 1, 2014 17:41:48 GMT
PS. I've just checked the loan details, and they still indicate the loan hasn't gone live yet, so I presume there's been another delay. But I also note that they say... Are those words left over from previous PBL offerings? Or did I miss an opportunity for upfront interest? (I don't remember being asked whether I wanted monthly or upfront interest when I made my investment.) Check the post above yours  . Also an email this afternoon, presumably just to 008 lenders, explaining the delay. I don't recall there being the option for upfront interest on this one either; it certainly isn't there now.
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mikes1531
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Post by mikes1531 on Sept 1, 2014 17:50:58 GMT
PS. I've just checked the loan details, and they still indicate the loan hasn't gone live yet, so I presume there's been another delay. But I also note that they say... Check the post above yours . Also an email this afternoon, presumably just to 008 lenders, explaining the delay. I had seen the post above mine. But it was made at 1425, so I checked to see if the loan went live after that. I hadn't seen the email at the time of my posting. I have now.
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star dust
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Post by star dust on Sept 1, 2014 19:52:19 GMT
I don't recall there being the option for upfront interest on this one either; it certainly isn't there now. I didn't think the upfront option was there either at the time I was purchasing some last week.
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Liz
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Post by Liz on Sept 1, 2014 20:39:42 GMT
No there was no ufront interest option.
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Investor
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Post by Investor on Sept 1, 2014 21:26:01 GMT
This one was upfront only with no option for monthly according to the quote from savingstream below. Wonder how they will deal with paying 6 months interest upfront when the minimum term is only 3 months and the borrower has the option to repay in 3 months "This is a 6 month loan with a minimum term of 3 months. The property valuation is available above. The loan has not gone live yet, however Lendy will guarantee to cover all interest accrued, should the loan not go live for any reason. All investors will earn 12%pa immediately upon commitment to this loan. Upfront interest will be paid upon go live of the loan." |
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Post by Deleted on Sept 1, 2014 22:21:36 GMT
This one was upfront only with no option for monthly according to the quote from savingstream below. Wonder how they will deal with paying 6 months interest upfront when the minimum term is only 3 months and the borrower has the option to repay in 3 months "This is a 6 month loan with a minimum term of 3 months. The property valuation is available above. The loan has not gone live yet, however Lendy will guarantee to cover all interest accrued, should the loan not go live for any reason. All investors will earn 12%pa immediately upon commitment to this loan. Upfront interest will be paid upon go live of the loan." I hope you're wrong on the above as there was definitely a monthly interest option which I selected. I invest chiefly with the aim of getting monthly interest payments I can withdraw to my bank monthly to live on as I am not working and earning at the moment but I have savings.
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mikes1531
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Post by mikes1531 on Sept 1, 2014 22:30:27 GMT
This one was upfront only with no option for monthly according to the quote from savingstream below. Wonder how they will deal with paying 6 months interest upfront when the minimum term is only 3 months and the borrower has the option to repay in 3 months "This is a 6 month loan with a minimum term of 3 months. The property valuation is available above. The loan has not gone live yet, however Lendy will guarantee to cover all interest accrued, should the loan not go live for any reason. All investors will earn 12%pa immediately upon commitment to this loan. Upfront interest will be paid upon go live of the loan." I hope you're wrong on the above as there was definitely a monthly interest option which I selected. Interesting -- I don't remember having an option to select! Investor has an interesting interpretation of what I presumed simply was a leftover sentence from a previous PBL. I think we need savingstream to let us know exactly what to expect here. Upfront interest generally means no access to the secondary market, and if that's true for all of PBL008 I expect that a lot of investors -- me included -- are in for a shock.
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star dust
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Post by star dust on Sept 1, 2014 22:35:53 GMT
The loan Particulars document itself says the following:
"INVESTOR HIGHLIGHTS
• Lendy Ltd is deducting 6 months of interest payments from the loan advance.
• Early i.e. pre-drawdown investors will receive 0.5% cashback, in addition to 1% a month.
• Interest will be paid into your account on a monthly basis for you to reinvest or withdraw.
• Interest will accrue immediately upon your commitment to this loan.
• If the loan does not go ahead, Lendy Ltd will pay interest owed to all committed investors"
So I'm definitely expecting monthly interest, but I must admit the text on the loan overview page and email are a bit confusing and imply upfront only. Upfront would be a bit difficult with a distinct possibility of early repayment as well.
Think a bit of extra proofing is needed as I have noticed a few such glitches creeping in from boats to property before; and it's not good enough that we're making assumptions that it is just a proofing error for these things.
As we've been saying, time for a site and t&c tidy up.
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j
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Penguins are very misunderstood!
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Post by j on Sept 1, 2014 22:56:35 GMT
I also very clearly recall that interest would be paid monthly! Doubtless SS will see this thread & clarify
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. Also an email this afternoon, presumably just to 008 lenders, explaining the delay.
