sildenafil
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Post by sildenafil on Nov 21, 2015 15:35:04 GMT
I think you have to remember that they're a small operation so yes they get busy (yesterday they were clearly finalising a deal as I received a deed of assignment to sign) but I'm sure they'll get back to you within a few (business) days. I still like them Thanks for your reply pom. I suppose I have just been used to receiving more prompt replies from all the other p2p companies I have dealt with so far. Glad to hear that you still like them as I am definitely interested in investing some money with them. How many deals are currently available, if you don't mind me asking? Many thanks
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stevio
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Post by stevio on Nov 21, 2015 15:48:48 GMT
Good luck! Never bothered reply my application, rude!
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sildenafil
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Post by sildenafil on Nov 21, 2015 16:15:29 GMT
That does not fill me with confidence. When did you apply? You would at least expect some correspondence; even if they were to turn down your request to invest. I noticed that to apply I would need to state my profession and income. I have not come across a platform that asks those questions. For a platform that doesn't strike me as being one of the "big boys", you would think customer service would be at the forefront.
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stevio
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Post by stevio on Nov 21, 2015 18:00:32 GMT
Aug 2015, not a sausage since sent in application, others seem to be the same
Customer service seems to be a bit of a joke to them
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pom
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Post by pom on Nov 21, 2015 18:08:32 GMT
I think you have to remember that they're a small operation so yes they get busy (yesterday they were clearly finalising a deal as I received a deed of assignment to sign) but I'm sure they'll get back to you within a few (business) days. I still like them Thanks for your reply pom. I suppose I have just been used to receiving more prompt replies from all the other p2p companies I have dealt with so far. Glad to hear that you still like them as I am definitely interested in investing some money with them. How many deals are currently available, if you don't mind me asking? Many thanks Doesn't work like that - there aren't deals sitting around waited to be filled. When there is one you get an email, say if you want in and that's it. They fill pretty quick tho I've never managed to work out how quickly - so far I've always got what I've requested but I'm usually pretty prompt in responding. Deal flow isnt really predictable but generally seems to be a steady trickle, tho I've not been taking so much notice of new deals the last couple of months (only reason I've just recently invested in one was because another loan repaid early) as I've invested about as much as I can while I wait for a sale to complete.
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sildenafil
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Post by sildenafil on Nov 21, 2015 18:36:14 GMT
How have you found their customer service pom? Have you ever had to contact them? I noticed earlier in the thread you said you waited around a week to be contacted after first applying.
Many thanks
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pom
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Post by pom on Nov 22, 2015 13:25:20 GMT
So "them" is basically Louis who handles all the comms. Yep there was a delay initially but I suspect he basically sets aside some time now & then to reach out to any recent new potential lenders and deals with them in one go (that was the impression I got from whatever it was he said when he phoned me anyway). Since I've been fully signed up I've had a few queries - about when/how (re)payments work etc plus some interesting variations of my name on paperwork for different loans and replies (within business hours) have always been pretty quick.
As for the questions in the process about job/income etc I can only speculate but I suspect they're rather keener on those that will be likely to end up with quite a lot invested. Although the minimum is 5k, some loans have had a 10k minimum attached - I asked it that was going to be an ongoing trend, and whilst it's gone back to 5k for the most recent loans Louis did say admit that particularly on the larger loans they prefer to have larger chunks, because otherwise they end up with a lot of people having to sign the deeds (it's all electronic, but you only have to have one person unavailable for a few days and the whole thing stalls) - it's a more manual process than most platforms, but I guess that keeps their cost down for their current size. I suspect when Louis called me he may also have been trying to gauge if I understood and could afford (from both capital & risk perspective) to be lending with them. Anyway speculation...
You're never going to build up a lot of diversity with them, but I don't mind that when I have 15 other platforms I'm also using and I think the process suits the deal flow. I like that any deals come straight to my mail and all I need to do is reply & then send the money later when asked - no website monitoring needed, and interest payments go direct to my bank (not always on the same day, clearly a manual payment run), so I don't mind if there ends up being a few weeks between deals.
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shimself
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Post by shimself on Nov 22, 2015 14:20:56 GMT
Hi pom, thanks for telling us
Does the money go to a client account? Do the documents make it clear that the contract is between you and the borrrower (ie genuine p2p)?
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pom
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Post by pom on Nov 22, 2015 15:46:45 GMT
Hmm I never asked that question - has been described a couple of times as transferring money to their solicitors, tho the acct name is BridgeCrowd/Social Money.
Each investment (tho apparently they sometimes do whole loans and those are different) are effectively done as a secondary market transaction with a deed of assignment that has to be signed (electronically) by all lenders (always including one member of the Alexander family) transferring it to us from BC with the borrower & legal charge security included. Louis sends a sample as part of the sign up process.
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Post by thebridgecrowd on Nov 23, 2015 12:17:01 GMT
Good luck! Never bothered reply my application, rude! Hi Stevio - Have you checked your spam? What is your email address and I will see if we did reply. If you wish to contact us please email louis@thebridecrowd.com or investors@thebridgecrowd.com Thanks, Louis
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Post by thebridgecrowd on Nov 23, 2015 12:33:26 GMT
Hi pom, thanks for telling us Does the money go to a client account? Do the documents make it clear that the contract is between you and the borrrower (ie genuine p2p)?
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mikes1531
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Post by mikes1531 on Nov 23, 2015 23:21:19 GMT
If you wish to contact us please email louis@thebridecrowd.com... Have we had a Freudian slip? Or are TBC branching out into a different sort of matchmaking?
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locutus
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Post by locutus on Nov 26, 2015 13:39:22 GMT
I'm thinking of investing but I can't find an office address on the website. Have I missed it? Not displaying an office address makes me very cautious.
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pom
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Post by pom on Nov 26, 2015 14:02:17 GMT
It's in all the deeds of assignment (including the sample Louis sent me during the sign up), which is what really matters at the end of the day
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locutus
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Post by locutus on Nov 28, 2015 23:29:13 GMT
Not publishing an office address on their website doesn't sit right with me. I don't see what the issue would be with making it public. After all, every bit of transparency increases confidence.
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