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Post by Badly Drawn Stickman on Jun 14, 2020 17:51:02 GMT
So does anyone know where the ability to set you rates, diversification and allocate funds has gone? Most of the account analytics seem to have disappeared so no indication of level of pooled funds for each investment just overall amount. No money loaned for 10 weeks, platform basically defunct it seems Still there but a long scroll past the list of loans. I had set it to be unlikely to lend so would have been more concerned if it had, but yes clearly nothing is happening just odd random sums of money appearing that never seem to get to the bank. Obviously a brief pause in the surge to great things?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 14, 2020 18:55:02 GMT
So does anyone know where the ability to set you rates, diversification and allocate funds has gone? Most of the account analytics seem to have disappeared so no indication of level of pooled funds for each investment just overall amount. No money loaned for 10 weeks, platform basically defunct it seems Still there but a long scroll past the list of loans. I had set it to be unlikely to lend so would have been more concerned if it had, but yes clearly nothing is happening just odd random sums of money appearing that never seem to get to the bank. Obviously a brief pause in the surge to great things? Thanks, didn't have any reason to look there. Im guessing that as less than 15% of funds are undeployed that borrower rates are very low and everyone who wants to exit has lent at low rates (both sub 8%) otherwise I cant see why my funds are only 50% deployed.
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Post by Ace on Jun 14, 2020 21:51:57 GMT
Still there but a long scroll past the list of loans. I had set it to be unlikely to lend so would have been more concerned if it had, but yes clearly nothing is happening just odd random sums of money appearing that never seem to get to the bank. Obviously a brief pause in the surge to great things? Thanks, didn't have any reason to look there. Im guessing that as less than 15% of funds are undeployed that borrower rates are very low and everyone who wants to exit has lent at low rates (both sub 8%) otherwise I cant see why my funds are only 50% deployed. I've given in trying to make any sense of figures on this platform. It's a complete waste of time IMO. It's certainly not true that all of those wanting to escape have lent at sub 8%. In my case I have many lingering loans at 12%. They are the "medium term" loans to FO themselves. I've been trying to escape for about 7 months. No interest received this month, in fact no payments of any kind since March. The platform does indeed appear to be dead. According to their own stats (really not sure why I should give these figures any credence given that none of their other figures appear to make any sense) they lent £2.1m in 2019 and only £0.1m in 2020 so far. The main man occasionally trots out his repeated, and as yet unfounded, promises of jam tomorrow due to the imminent ramping up of lending, and vague excuses as to why its not happened yet. He's lost all credibility in my eyes, and many others it seems.
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greatmarko
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Post by greatmarko on Jun 18, 2020 12:16:10 GMT
... The platform does indeed appear to be dead. ... Given FO are supposedly FCA regulated (Registration Number: 729238), has anyone given the FCA a nudge?
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Post by Badly Drawn Stickman on Jun 18, 2020 12:23:50 GMT
... The platform does indeed appear to be dead. ... Given FO are supposedly FCA regulated (Registration Number: 729238), has anyone given the FCA a nudge? Well, we only suspect the platform is 'unwell' based on a lack of response generally. I think many of us are certain the FCA is with the Dodo as a species.
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Post by tmn on Jun 19, 2020 15:50:10 GMT
Well, they are still active they just tried to block someone on Trustpilot
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Greenwood2
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Post by Greenwood2 on Aug 14, 2020 19:59:42 GMT
I did at some point sign up to lend and created an account, but only put in a small amount (which I took out after a short while). I recently got an email suggesting I could apply for a loan, obviously a No from me, but not sure how I got from being a lender to a potential borrower? Probably in the small print!
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Post by shaunperry on Aug 14, 2020 21:53:28 GMT
I received the same email. I was hoping the email was going to be good news regarding the withdrawal i made months ago which is showing as pending.
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Post by ianrother on Aug 17, 2020 19:11:33 GMT
Same here offering a loan.. I have £4K supposedly waiting to be sold on the secondary market from Oct 2019... not a £1 has sold.. there is no market ... they never respond to e mails .. will not explain why non of my investment has not been sold and I do not believe any of the stats etc.. they advertise a secondary market but it is non existent... do not waste your money on them I have written mine off in my mind as a bad debt ,,
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Post by df on Aug 17, 2020 20:52:21 GMT
I received the same email. I was hoping the email was going to be good news regarding the withdrawal i made months ago which is showing as pending. At least it is a sign that FO is making some effort to bring the borrowing part of the business back. Not sure how effective it could be offering pay-day loans to investors 
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benaj
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Post by benaj on Aug 18, 2020 12:56:16 GMT
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IFISAcava
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Post by IFISAcava on Aug 18, 2020 16:03:42 GMT
and yet they still can't answer emails
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optimist
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Post by optimist on Sept 6, 2020 16:42:07 GMT
I got a personal email reply 28th Aug but no answers to any of my questions.
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Post by df on Sept 10, 2020 23:12:13 GMT
I got a personal email reply 28th Aug but no answers to any of my questions. Sounds about right. No answers to questions has been the policy for a long time. Meanwhile my XIRR is showing as 4.4%, last time I've checked exactly 2 months ago it was 10.1%, in the past year or so my XIRR was fluctuating (randomly) between 1.6% and 12% - their "computer" must be still broken and there is probably no budget for fixing it. But it's good to know that you've received e-mail communication, this confirms that the company still exists - better than complete silence.
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benaj
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Post by benaj on Sept 11, 2020 12:48:35 GMT
I got a personal email reply 28th Aug but no answers to any of my questions. Sounds about right. No answers to questions has been the policy for a long time. Meanwhile my XIRR is showing as 4.4%, last time I've checked exactly 2 months ago it was 10.1%, in the past year or so my XIRR was fluctuating (randomly) between 1.6% and 12% - their "computer" must be still broken and there is probably no budget for fixing it. But it's good to know that you've received e-mail communication, this confirms that the company still exists - better than complete silence. Signs of life? From the loan book stats, £ 0.5 Mil short term loans within a month, sounds good right?
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