michaelc
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Post by michaelc on Nov 16, 2019 15:03:46 GMT
My eyes were having trouble following the first post but are you saying you're this upset as you've lost £300 ? Was it not clear in the documentation etc that it was a non-refundable fee? I seem to recall back in the day when I applied for a mortgage having to agree to all sorts of valuation and other fees some of which were non-refundable. What made you think £300 as only your post displays when I search on 300. Over £3000 on legal fees, survey and my current lender charging me 0.5% for a new setup fee. The Bridge Crowd agreed to lend, 3 people there were aware of this including Rob Johnson their Head Of Underwriting, but in reality were never going to lend at 0.78% so should have not agreed but encouraged me to carry on the process raking up bills. They even would not provide the survey to me which I was told legally I am entitled to under GDPR. Sorry yes 3k. I copied and pasted your first post so that I could add a few line breaks and read it. It doesn't sound good and I do wish you luck. You mention a 3% monthly default rate - we don't get anything like that. It typically goes up from something like .7% to maybe 1.1% . One thing I would say is if I was borrowing a lot of money (and I can't obviously prove it )but I'm pretty sure I wouldn't mind doing a video logging into my bank to show what I was saying was correct. You obviously could redact your username but usually passwords show as ***** on the screen. In general, I suspect the more open and cooperative you are, the lower the rates are likely to be (that is my guess only. I am no expert).
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Post by adama on Nov 16, 2019 15:43:02 GMT
What made you think £300 as only your post displays when I search on 300. Over £3000 on legal fees, survey and my current lender charging me 0.5% for a new setup fee. The Bridge Crowd agreed to lend, 3 people there were aware of this including Rob Johnson their Head Of Underwriting, but in reality were never going to lend at 0.78% so should have not agreed but encouraged me to carry on the process raking up bills. They even would not provide the survey to me which I was told legally I am entitled to under GDPR. Sorry yes 3k. I copied and pasted your first post so that I could add a few line breaks and read it. It doesn't sound good and I do wish you luck. You mention a 3% monthly default rate - we don't get anything like that. It typically goes up from something like .7% to maybe 1.1% . One thing I would say is if I was borrowing a lot of money (and I can't obviously prove it )but I'm pretty sure I wouldn't mind doing a video logging into my bank to show what I was saying was correct. You obviously could redact your username but usually passwords show as ***** on the screen. In general, I suspect the more open and cooperative you are, the lower the rates are likely to be (that is my guess only. I am no expert). No worries, yes 3% a month default AND a 6% Default charge every six months. The highest I have seen in the market. I will sue them but look at this positively as my new deal does not have the 6% and life does not always run as clockwork. In regards to the video of my bank account all the money was going to my existing lender so I did not see the point. In addition other lenders do not ask this. I have over £100,000 in an instant access account and could have employed myself. I know their game they wanted to push me against the financial wall and thought I would accept 1.1% They were wrong and will end up in court unless they pay me back. They ran up my legal costs. There are many firms of a better moral standing than these sharks.
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Greenwood2
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Post by Greenwood2 on Nov 16, 2019 16:15:36 GMT
Default fees only apply if you are in default, so they should never have applied to you.
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Post by adama on Nov 16, 2019 16:28:55 GMT
Default fees only apply if you are in default, so they should never have applied to you. Agreed, but 3% a month and then 6% for each 6 months. 48% per year is what it really is! I would think you also pay interest on the interest! Extortion. Some people get sick, die, etc It's just a gauge at the vulnerable. I have emailed Mr Alexander a link to this post. Let's see what he says (If anything) He can't deny they approved me and then reneged just 24 hours before the last day.
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Greenwood2
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Post by Greenwood2 on Nov 16, 2019 16:47:23 GMT
Mr Alexander did reply to the other borrower who claimed to have lost money. If he replies it will be very interesting to see his side of the story.
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Post by adama on Nov 16, 2019 17:22:00 GMT
Mr Alexander did reply to the other borrower who claimed to have lost money. If he replies it will be very interesting to see his side of the story. He could not even provide the survey, although unlikely the new lender will accept it, it might have saved him some money. He came back and asked "However, can you confirm if you are still requiring a loan from us or whether you are cancelling your application" I think he is on a different planet, yes I wanted the 0.78% which is why I did everything to make it happen and signed the papers, only to get notification 24 before the final day that they were reneging. I wonder if he will tell the court I cancelled as I did not accept the 1.1% offer. I never applied for any loan except 0.78% The two are not the same. How did the borrower lose money as Mr Alexander on his website claim ZERO losses, scroll down on the left - www.thebridgecrowd.com/lend-money-uk Is that only for investors. Let's see his story, his registration as a Barrister, did the borrower lose and if so how as they only lend to 70% LTV Is he going to pay me back as his firm knew they were never going to honour their 0.78% quote and agreed my savings count as income therefore I qualified 100% for their "Low Rate. My credit score is excellent at 969 out of a possible 999, with possible additional points if I was on the Electoral Role. I have owned the house for around 23 years and come on and off the role but can prove I pay the Council Tax and live here. I could employ myself, but no, not good enough for The Bridge Crowd = Translated = they wanted the 1.1% If I pay myself out of an account of over £109,000 how could I not support myself for a year. The loan was unregulated anyway. It's all a SCAM to get more percentage. The Bridge Crowd should be dissolved like many of his other companies. I wonder if people lost money in those companies? There is not a single deal listing as a 2nd charge at 0.78% on their website - www.thebridgecrowd.com/lend-money-ukI never gave approval for my home to be placed on their website. What type of percent do you guys receive?
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Greenwood2
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Post by Greenwood2 on Nov 16, 2019 20:43:05 GMT
The borrower claimed losses much like you, BC disputed it and won, so no losses by BC.
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Post by adama on Nov 16, 2019 21:36:19 GMT
The borrower claimed losses much like you, BC disputed it and won, so no losses by BC. You sound like Bridge Crowd, or The Bridge Crowd. I lost money with these liars. They will be in court and on the internet for what they are. The Bridging market has changed. These people are crooks like the old loan sharks! Mr Alexander this is in the new world of the internet. Give me time I will let you know here what happens in court, or if he settles. No confidentiality agreement here. He is rubbish. There are honest companies offering returns......not The Bridge Crowd. He has so many dissolved companies....................
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Post by adama on Nov 19, 2019 9:31:42 GMT
The borrower claimed losses much like you, BC disputed it and won, so no losses by BC. The Bridge Crowd, namely Mr Alexander, Mr Watson, Mr Hunt and Mr Johnson have all been reported to the UK Police - www.actionfraud.police.uk/I emailed Mr Alexander and the others named some days ago with a link to this thread, his silence says a great deal. The facts are the facts. Would you want to be an investor with this firm, if the Police investigate and maybe knock on your door?
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Greenwood2
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Post by Greenwood2 on Nov 19, 2019 18:19:47 GMT
The borrower claimed losses much like you, BC disputed it and won, so no losses by BC. The Bridge Crowd, namely Mr Alexander, Mr Watson, Mr Hunt and Mr Johnson have all been reported to the UK Police - www.actionfraud.police.uk/I emailed Mr Alexander and the others named some days ago with a link to this thread, his silence says a great deal. The facts are the facts. Would you want to be an investor with this firm, if the Police investigate and maybe knock on your door? Yes, and the police are very welcome anytime at my door.
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Post by adama on Nov 28, 2019 14:11:18 GMT
The Bridge Crowd, namely Mr Alexander, Mr Watson, Mr Hunt and Mr Johnson have all been reported to the UK Police - www.actionfraud.police.uk/I emailed Mr Alexander and the others named some days ago with a link to this thread, his silence says a great deal. The facts are the facts. Would you want to be an investor with this firm, if the Police investigate and maybe knock on your door? Yes, and the police are very welcome anytime at my door. Where is Mr Alexander to defend his conduct and sue me for libel if anything I am saying never happened. It is all true and he knows about this as I emailed him the url. I now have more time to pursue this. I have had the Poilce call me today, they are very concerned about the conduct, especially taking £350 disguised as a "Lockin", then keeping it when they renege, not having this in their terms they can keep the "Lockin" fees even when they do not lend. Demanding potential borrowers to allow themself to have a video of them logging into their bank, even if the characters are ***** they can still see where the fingers are pressing. No professional firm asks for this, utter rubbish, they take a photo of your house and publish how much you have borrowed, the amount, the date, the rate without consent, they fail to provide Data held on myself under Subject Access Request and failed to provide a copy of the survey. The Bridge Crowd are dishonest, liars and have no place running a business. I will be asking the FCA to revoke their license. Whilst this is an Investor post I will be going to Borrowers forums, national and local press on this.
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iRobot
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Post by iRobot on Nov 28, 2019 22:00:45 GMT
Where is Mr Alexander to defend his conduct and sue me for libel if anything I am saying never happened. It is all true and he knows about this as I emailed him the url. I now have more time to pursue this. I have had the Poilce call me today, they are very concerned1 about the conduct, especially taking £350 disguised as a "Lockin", then keeping it when they renege, not having this in their terms they can keep the "Lockin" fees even when they do not lend. Demanding potential borrowers to allow themself to have a video of them logging into their bank, even if the characters are ***** they can still see where the fingers are pressing. No professional firm asks for this, utter rubbish, they take a photo of your house and publish how much you have borrowed, the amount, the date, the rate without consent, they fail to provide Data held on myself under Subject Access Request and failed to provide a copy of the survey. The Bridge Crowd are dishonest, liars and have no place running a business. I will be asking the FCA to revoke their license. Whilst this is an Investor post I will be going to Borrowers forums2, national and local press on this. 1. I should jolly well hope so! Allegations of fraud, threats against you, etc, etc is very serious matter which I would expect the authorities to take seriously and then act appropriately on the outcome of their enquiries. Ref. Mr Alexander's " many failed companies", I note he has five (out of ten) dissolved companies; three of those five were voluntary strike-offs (which is an absolutely legit way of terminating an entity with Companies Hse); one was a creditors voluntary liquidation which started eighteen months after Mr Alexander resigned as director, and the fifth was a compulsory strike-off. Only this last one might be considered a cause for concern, but trust me, anyone with any reasonable exposure to the lender/ borrower P2P market will have seen much, much worse. Even otherwise straight-as-a-die, stalwarts of propriety happily allow unwanted company entities to be compulsorily stricken-off, simply on the basis that it is convenient, and carries practically no stigma (in tangible terms). Wouldn't do it myself, but it happens. 2. Are there Borrowers forums? I'm sure there's plenty here that would like to 'have a chat' with more than a few of the participants should such places exist. Sadly, I suspect many participating borrowers will post just long enough and just about convincingly enough to become credible forumites - and then immediately disappear without being heard from again. It's a common trait amongst P2P Borrowers!
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tomp
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Post by tomp on Jan 17, 2020 13:35:29 GMT
New accounts are now available from:
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michaelc
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Post by michaelc on Jan 18, 2020 14:50:38 GMT
New accounts are now available from:
I know very little indeed about accounts or how to read them but this looks like the numbers moving in the right direction? I hope someone far more knowledgeable than me can comment.
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tomp
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Post by tomp on Jan 20, 2020 7:35:26 GMT
New accounts are now available from:
I know very little indeed about accounts or how to read them but this looks like the numbers moving in the right direction? I hope someone far more knowledgeable than me can comment. I am not an expert but to me it looks like they made a nice profit and they are growing in comparison to the previous year
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