benaj
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Post by benaj on Jul 18, 2019 14:54:00 GMT
The current spread in the SM is not too bad, averaging 5.37%
Leicester, East Midlands, LE2 has been traded over 226k in the last 6 months, 30 days trading volume over 42k.
EDIT: PP business model favours liquid SM activities, 2% per trade.
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p2ploser
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Post by p2ploser on Jul 18, 2019 18:07:55 GMT
True test for the platform will be on take up of new listings as PP couldn’t really care too much about the trading on SM. Most fees are now in the new listing fees and the aum so they need to get as many new listings up as quickly as possible. Besides I can only think that these changes favour the large investor and they’re not really bothered about the smaller investors anymore. Just my thoughts of course.
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hazellend
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Post by hazellend on Jul 18, 2019 18:43:55 GMT
I’ve got 100k with them and definitely will not invest anymore. If I had multimillionaire I would not consider putting in 7 figures.
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Post by scepticalinvestor on Jul 19, 2019 11:18:40 GMT
I can't emphasise this enough, I hope everyone on the board is putting in a formal complaint to PP, with the intention of taking it to the Financial Ombudsman if they don't come up with a satisfactory solution which allows existing customers to exit PP in a fair manner without being forced to accept the new T&Cs.
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p2ploser
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Post by p2ploser on Jul 19, 2019 11:31:09 GMT
I emailed them right after the email came in earlier this week. They do say they try to respond within 5 working days so not there yet but has anyone had anything back from them related to the announcement?
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benaj
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Post by benaj on Jul 19, 2019 11:44:55 GMT
I emailed them right after the email came in earlier this week. They do say they try to respond within 5 working days so not there yet but has anyone had anything back from them related to the announcement? Yes, a reply from W.
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hazellend
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Post by hazellend on Jul 19, 2019 12:12:38 GMT
I can't emphasise this enough, I hope everyone on the board is putting in a formal complaint to PP, with the intention of taking it to the Financial Ombudsman if they don't come up with a satisfactory solution which allows existing customers to exit PP in a fair manner without being forced to accept the new T&Cs. Is an email to their service department classes as a formal complaint?
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p2ploser
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Post by p2ploser on Jul 19, 2019 12:40:43 GMT
I just got one. Very polite but basically says like it or lump it. Time to make complaint formal. I emailed them right after the email came in earlier this week. They do say they try to respond within 5 working days so not there yet but has anyone had anything back from them related to the announcement? Yes, a reply from W.
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beh
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Post by beh on Jul 19, 2019 13:32:20 GMT
Somebody should point out to them that they're no longer "Rated Excellent by our clients" on Trustpilot, they're now merely "Great" 4*. Could see that slipping further. Whatever the need to increase fees to make a viable business it's clear they've gone about it in the wrong way and pissed off a lot of people.
Edit: Must have slipped to "Average" 3* just as I was writing this.
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Post by scepticalinvestor on Jul 19, 2019 14:13:02 GMT
I can't emphasise this enough, I hope everyone on the board is putting in a formal complaint to PP, with the intention of taking it to the Financial Ombudsman if they don't come up with a satisfactory solution which allows existing customers to exit PP in a fair manner without being forced to accept the new T&Cs. Is an email to their service department classes as a formal complaint? As per FCA guidance, this is how they define a complaint - "Any expression of dissatisfaction, whether oral or written, and whether justified or not..." However, from experience, financial institutions (even some large high street banks) will take some effort to avoid labelling anything as a complaint until the customer clearly mentions the same. I would definitely label it as a formal complaint, mark the date and set the 8 week timer ticking.
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carolus
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Post by carolus on Jul 19, 2019 14:55:44 GMT
I have just noticed that the Account fee, is *not* £1/month, as described in the original email. Rather, it is £1+VAT/month as described on their help pages. Not a huge amount in the grand scheme of things, but another tiny bit of people's returns eaten away.
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bigfoot12
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Post by bigfoot12 on Jul 19, 2019 15:02:34 GMT
I emailed them right after the email came in earlier this week. They do say they try to respond within 5 working days so not there yet but has anyone had anything back from them related to the announcement? So did I, and I got a reply this morning saying tough, you'd better sell up by 5th August to avoid the account fee or 31st January to avoid the AUM fee.
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hazellend
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Post by hazellend on Jul 19, 2019 15:25:06 GMT
“Hi
I am really sorry to hear that but completely understand.
Yes we are aware that our trust pilot has taken a bit of a beating recently and are in the process of taking it off the site.
Very best, Kyle”
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hazellend
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Post by hazellend on Jul 19, 2019 15:26:08 GMT
In response to my second email about a seminar
Hi Kyle,
Too little too late unfortunately. I cannot forgive property partner for the way these charges were imposed on existing investors.
By the way, on the front page of your website it states that you are rated 5 stars by trust pilot but you will notice that this has rapidly dropped to 3 stars since the charges so you need to remove this as it is now false,
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p2ploser
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Post by p2ploser on Jul 19, 2019 15:48:50 GMT
When will the owners of some of thee p2p platforms realise that engaging with investors (large and small) constructively benefits them, else they end up with frustration and bad press that they will need to spend money and time repairing. Mud sticks too! “Hi I am really sorry to hear that but completely understand. Yes we are aware that our trust pilot has taken a bit of a beating recently and are in the process of taking it off the site. Very best, Kyle”
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