ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330 
Likes: 11,549
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Post by ilmoro on Sept 5, 2018 10:11:14 GMT
Most banks have some form of limit for an individual FP but that doesnt stop more than one being made on the same day. As RM says, its more likely to trigger a security check in some form. Seem to recall one institution were notorious for this, stopping payments if they were suspicious but not actually telling the customer they had been stooped until they contacted them to fins out why it hadnt been recieved.
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Post by GSV3MIaC on Sept 5, 2018 10:20:27 GMT
IIRC Smile/Co-op bank also had a £10k limit, which was stoooopid since they allowed multiple £10ks to the same place on the same day. Was a royal PITA last time I wanted to buy a new car, given the call centre only spoke Bangladeshi English and I was not at my PC (I was in the car showroom) so could not confirm the last N transactions to the nearest penny. Wouldn't have that problem now though - I don't think they have a phone number any longer. 8<.
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Post by eascogo on Sept 5, 2018 10:33:15 GMT
"Past performance does not guarantee future performance"Fingers XXXXXD  Lendy missed a beat, they should have stated: poor past performance doesn't preclude great future performance.
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
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Post by TheDriver on Sept 14, 2018 7:43:17 GMT
I informed the p2p finance news about this rapid reduction of the £50k entry level because Lendy had not made it public but simply reduced it on the Lendy Wealth page. As of 1st August the boast was that the minimum was clearly £50,000. Suddenly by 1st September it is down 80% to a bargain basement £10,000. The result was the article in the p2p finance news this morning and the weasel words / spin by Lendy trying to make it look as if they had reduced the amount to assist non "high net worth" people pour cash into the delayed / new Lendy IFISA. The obvious truth is that they did not attract anywhere near enough people willing to risk £50k. The suggestion that it was also because people could only transfer £10,000 at a time is laughable. I would suspect that many "high net worth" investors will already have used their IFISA allocation by now so will be able to resist the urge to chuck more cash into loans that fail to pay interest or repay any of the initial capital on time. Who are Lendy now trying to get money from at this stage? Question: How do you get a small fortune? Answer: start with a large fortune and invest with Lendy. I was interested in the photo accompanying the article, illustrating the Domino Effect! What does anyone think is the first domino to fall? LW itself, RICS valuations, Tim leaving, DFL004, GDV loans, PBL155, IMS reporting, etc.?
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Post by p2plender on Sept 14, 2018 7:48:23 GMT
"Who are Lendy now trying to get money from at this stage?"
Ahem, no coincidence somebody whose been absent for several months is back promising to try and improve and correct all previous mistakes...
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Post by patright on Sept 14, 2018 7:54:23 GMT
it's probably the same thing as with the RBS scandal, big shot at Lendy probably having a daily laugh at all of us for selling us  |
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rocky1
Member of DD Central
Posts: 1,139
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Post by rocky1 on Sept 21, 2018 6:09:11 GMT
It would not be in lendys interests to clear the SM with lendy wealth funds as they are already getting the interest.probably having a dabble elsewhere with lenders funds.i hope the fund managers do a better job with other people's money than our team of experts are doing with ours.
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Balder
Member of DD Central
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Post by Balder on Sept 21, 2018 7:50:36 GMT
Anyone seen any published qualification sets for the fund mangers - other than a background in sales?
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empirica
Member of DD Central
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Post by empirica on Sept 21, 2018 11:31:09 GMT
Not seen any mention of a 'Fund' (as an investment vehicle) nor a 'Fund Manager', on any of the LW materials and I suspect they are deliberately staying away from that terminology.
An Email received on the subject of Lendy Wealth was been signed off by their "Investment Relationship Manager".
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rocky1
Member of DD Central
Posts: 1,139
Likes: 1,963
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Post by rocky1 on Sept 21, 2018 11:45:40 GMT
sorry for saying fund manager i was thinking of something else. your portfolio will be managed by your dedicated account manager.
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michaelc
Member of DD Central
Say No To T.D.S.
Posts: 5,710
Likes: 2,985
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Post by michaelc on Sept 21, 2018 14:28:53 GMT
IIRC Smile/Co-op bank also had a £10k limit, which was stoooopid since they allowed multiple £10ks to the same place on the same day. Was a royal PITA last time I wanted to buy a new car, given the call centre only spoke Bangladeshi English and I was not at my PC (I was in the car showroom) so could not confirm the last N transactions to the nearest penny. Wouldn't have that problem now though - I don't think they have a phone number any longer. 8<. I was with smile from the start until they started reducing phone support and other cost saving measures. I moved to FD where normally when I call a real person in the UK picks up the phone and says "Hello?". I hardly ever do my banking on the phone, but for those occasions where I'm worried about something and need to speak to someone, I'm definitely glad I don't need to p***s around with a queuing system. Apologies for going way off topic...!
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Post by loadsamoney on Sept 26, 2018 5:35:45 GMT
I have a small, 4 figure sum tied up with Lendy. 8 loans: 6 (calling a spade a spade) defaulted, 2 unsaleable. Current return on investment 0.3%. On the basis of 26% recovery over time (which may be somewhat hopeful) I shall come out even after about 4 years, valuing my time at zero.
Judge of my surprise, then, if you will when I received a call trying to sell me Lendy Wealth. What, about my current position with them, would lead them to believe I was a likely punter for a min £10000 investment in a black box of crackpot loans overseen by amateurs?
This would be comical if it didn't smack so much of desperation on their part. And that kind of desperation worries me a lot.
No, Lendy, I am not so much 'cash rich and time poor' as 'common sense rich and tolerance for fools poor'.
Sheeeeesh!
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