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Post by fundingsecure on Sept 12, 2019 14:13:06 GMT
FundingSecure is pleased to announce our new 30 day access account.
Further details are available here:
Regards
FundingSecure
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sarahcount
Member of DD Central
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Post by sarahcount on Sept 12, 2019 14:16:31 GMT
I wonder how this will be received. 
I'm just so disappointed that the FS30 account has initially been limited to a maximum of £250,000.
5% return but you are automatically invested in all available loans.
Still get the interest even if it defaults. Should you choose to invest in the FS30 account your investment will only be used to fund loans that have been passed by our Credit Committee.
So that's all right then.
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,809 
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Post by jonno on Sept 12, 2019 14:18:13 GMT
I wonder how this will be received.
I'm just so disappointed that the FS30 account has initially been limited to a maximum of £250,000.
5% return but you are automatically invested in all available loans.
Still get the interest even if it defaults. Should you choose to invest in the FS30 account your investment will only be used to fund loans that have been passed by our Credit Committee.
So that's all right then. As Boris would say, "Pas sur votre Nellie!"
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michaelc
Member of DD Central
Say No To T.D.S.
Posts: 5,722
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Post by michaelc on Sept 12, 2019 14:18:36 GMT
The FS30 account has initially been limited to a maximum of £250,000. Individual investors can invest anything from £1 up to a maximum of £10,000.
Is that a typical typo or have I read it wrong?
In any case good that the 5% has an implicit plus in front of it !
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pip
Posts: 542
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Post by pip on Sept 12, 2019 14:21:03 GMT
If I decide to lend £10,000 for 30 days:
Potential upside: 10,000 * 0.052 * 30 / 365 = £42.78
Potential downside: £10,000
Based on my entire loan book varying from being 6 to 26 months overdue, on what were advertised as 6 months loans, I would prefer to join Boris dead in a ditch before I invest my hard earned money in this.
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Post by fundingsecure on Sept 12, 2019 14:22:28 GMT
No typos that I can see?
The overall account is limited to £250,000 on a first come first served basis.
Individual investors can invest between £1-£10,000
Hopefully clear?
FundingSecure
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Monetus
Member of DD Central
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Post by Monetus on Sept 12, 2019 14:23:03 GMT
A sense of deja vu.
- Emails from the CEO promising to “do better”
- “Enhanced” new recovery team and processes.
- New black box product launch.
Hmm....
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Post by dan1 on Sept 12, 2019 14:24:50 GMT
The FS30 account has initially been limited to a maximum of £250,000. Individual investors can invest anything from £1 up to a maximum of £10,000.Is that a typical typo or have I read it wrong?
In any case good that the 5% has an implicit plus in front of it ! I don't think so. I interpreted that as the maximum that can be invested in the account by all investors is £250k but individual accounts are limited to £10k.
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rocky1
Member of DD Central
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Post by rocky1 on Sept 12, 2019 14:24:59 GMT
not as big as the lendy wealth fundraiser then
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Steerpike
Member of DD Central
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Post by Steerpike on Sept 12, 2019 14:28:05 GMT
I wonder if FS30 funds will be allocated before loans are opened to traditional lenders?
Lenders will be able to choose 30 days with access at 5% or 1200+ days with no access at 13%, I wonder if one can transfer funds from the latter to the former?
"Donnez moi un break!"
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pip
Posts: 542
Likes: 725
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Post by pip on Sept 12, 2019 14:30:17 GMT
No typos that I can see?
The overall account is limited to £250,000 on a first come first served basis.
Individual investors can invest between £1-£10,000
Hopefully clear?
FundingSecure
If somebody sees the offer and decides, geez that looks good, FundingSecure have a history of returning money to investors in full and on time, let's do £10k....well they are very deluded. Wouldn't waste another pound on this platform. Ever.
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zlb
Member of DD Central
Posts: 1,422
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Post by zlb on Sept 12, 2019 14:39:04 GMT
At least it's limited to £250k wonder how long that will last for.
And there I was thinking that the only worrying point is how individual loans become hidden from more public DD when a platform moves to this model.
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rs
Member of DD Central
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Post by rs on Sept 12, 2019 14:41:03 GMT
Seems odd. Investors put £1m of cash in the FS30 day account and this was all invested in FS loans. Then all the investors give 30 day notice to withdraw £1m from FS30 day account, do you think FS will give the £1m back straight away? I'd like FS to confirm this on their T&C's.
Their launch email was slightly misleading in my view.
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r1200gs
Member of DD Central
Posts: 1,336
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Post by r1200gs on Sept 12, 2019 14:41:49 GMT
A sense of deja vu. - Emails from the CEO promising to “do better” - “Enhanced” new recovery team and processes. - New black box product launch. Hmm.... You beat me to it! I'll give them ten out of ten for optimism though! Invest in loans I can do no diligence on with a platform with a reputation for incompetence and negligence and strong possibility they will not be in business much longer as more and more disasters line up one after the other. Has hell frozen over yet? Nope? Then I'll keep the money in the bank for now.
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james21
Member of DD Central
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Post by james21 on Sept 12, 2019 14:45:44 GMT
Its is saying ""aim to offer a targeted rate of 5% per annum returned to the investor regardless of whether the loan defaults or not"", So as a black box you dont know what loans the money is in, performing, under performing, or defaulted, you can still withdraw. If thats the case I am not seeing a problem with it
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