stevio
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Post by stevio on Mar 23, 2016 21:40:49 GMT
So there previously hasn't been an online account??? How is anything done?
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stevio
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Post by stevio on Mar 23, 2016 21:44:34 GMT
I have spoken to Louis a few times and he and thebridgecrowd do certainly appear genuine. They are targeting higher net worth individuals, hence the £5k minimum. We negotiated a very good cashback promotion which we are happy to promote.
Personally I am not a lender on thebridgecrowd yet, but if they consider dropping their minimum I would certainly be interested.
5% isn't that great, can can get 10% elsewhere with some other platforms
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KoR_Wraith
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Post by KoR_Wraith on Mar 23, 2016 22:01:13 GMT
5% isn't that great, can can get 10% elsewhere with some other platforms Some confusion here. Bridging Crowd loans are generally 11%, not sure where your 5% figure came from. The platform is currently managed through email. They email you the loan details, you reply with your bid amount (or leave unanswered if not interested), they confirm that your bid amount has been accepted (or presumably counter with a lower value if demand exceeds supply), you then have a few days to bank transfer the agreed amount into Bridging Crowd's account. They'll keep you updated as to when the loan goes live over the next few days and send you confirmation documents of your stake in the loan. No secondary market at present, loans held until maturity, monthly interest is paid into your nominated bank account. I signed up via the p2pmoney link a couple of months ago and received the £250 cashback with my first interest payment, no hassle - all email communication promptly responded to.
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stevio
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Post by stevio on Mar 23, 2016 22:09:28 GMT
5% isn't that great, can can get 10% elsewhere with some other platforms Some confusion here. Bridging Crowd loans are generally 11%, not sure where your 5% figure came from. The platform is currently managed through email. They email you the loan details, you reply with your bid amount (or leave unanswered if not interested), they confirm that your bid amount has been accepted (or presumably counter with a lower value if demand exceeds supply), you then have a few days to bank transfer the agreed amount into Bridging Crowd's account. They'll keep you updated as to when the loan goes live over the next few days and send you confirmation documents of your stake in the loan. No secondary market at present, loans held until maturity, monthly interest is paid into your nominated bank account. I signed up via the p2pmoney link a couple of months ago and received the £250 cashback with my first interest payment, no hassle - all email communication promptly responded to. Cash back 5%. Thanks for letting us know how works Is it still 5k min investment per loan?
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KoR_Wraith
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Post by KoR_Wraith on Mar 23, 2016 22:17:02 GMT
Ahh, I see Yes, still a £5k minimum. Perhaps this will be reduced if a fully functional website is launched - I suspect the email-basis of the current operation is a strong incentive to keep the number of investors manageably low.
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Post by wickedxuk on Jul 16, 2016 18:17:31 GMT
Has anyone had any recent investments with Bridgecrowd? I've signed up and they now have anot online portal where you can invest from and see all of the active/Complete loans. It seems like everyone has had good experiences with this company but if I could get some recent positive nods that would be great😉.
Thanks,
Paul
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pom
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Post by pom on Jul 17, 2016 9:27:09 GMT
Has anyone had any recent investments with Bridgecrowd? I've signed up and they now have anot online portal where you can invest from and see all of the active/Complete loans. It seems like everyone has had good experiences with this company but if I could get some recent positive nods that would be great😉. Thanks, Paul I haven't made any new investments recently, because after a long period of most of the things I was investing in paying back early, currently most of my money on the platform is tied up in overdue loans and I'm at my limit until I decide to exit another platform. So currently my monthly interest payments are less than half of what they should be, with a rapidly growing amount of accrued interest owed. I'm NOT worried about this as the LTVs are all a lot lower than most of my other bridging loans on other sites (some of which paying far lower rates), I'm not dependent on a reliable income stream and I've never expected property deals to complete when predicted anyway. So long as you're patient (ie don't try and invest everything at once) and diversify well (across platforms as well as across loans) and are not going to lose sleep if your money ends up tied up longer than expected then yes I'd still recommend them.
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Greenwood2
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Post by Greenwood2 on Jul 17, 2016 11:44:40 GMT
A bit difficult to diversify with £5000/loan.
They claim to have an active secondary market, but it seems to be 'coming soon'?
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sildenafil
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Post by sildenafil on Jul 17, 2016 14:34:23 GMT
Until they lower their minimum investment amount and open up the secondary market I'm holding off on investing any more. Communication is tremendous and any issues sorted promptly. The deals they write look to be excellent so I would highly recommend them for anyone with a lot of spare cash to invest and they seem to be wanting more investment as they are offering £250 for a referral.
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Post by wickedxuk on Jul 17, 2016 17:18:20 GMT
Thank you all for your replies. Very helpful.
I've registered and will keep an eye out for significant changes but for the time been I'm going to dip my toe into Saving Stream and some other potential platforms.
I've noticed a few of the other p2p lending sites have there own section on this site. It would be nice if there was one for Bridgecrowd so we could build a community and discuss investments as they do for the other sites.
I'm comfortable with the £5,000 investment but I'm not quite willing to transfer money onto the site yet without more investigation and waiting to see what opportunities there are.
I will.post if I make any investment or have any contact with the site etc.
Thanks again 🖒🖒
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Monetus
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Post by Monetus on Jul 17, 2016 17:24:31 GMT
Thank you all for your replies. Very helpful. I've registered and will keep an eye out for significant changes but for the time been I'm going to dip my toe into Saving Stream and some other potential platforms. I've noticed a few of the other p2p lending sites have there own section on this site. It would be nice if there was one for Bridgecrowd so we could build a community and discuss investments as they do for the other sites. I'm comfortable with the £5,000 investment but I'm not quite willing to transfer money onto the site yet without more investigation and waiting to see what opportunities there are. I will.post if I make any investment or have any contact with the site etc. Thanks again 🖒🖒 I also think it would be a great to create a sub-section of the forum for BridgeCrowd. I've been investing with them for a little while now and things have gone well - no issues at all. Really happy about the launch of the new online platform... shows they are really upping their game.
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stevio
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Post by stevio on Jul 17, 2016 18:45:53 GMT
Has anyone had any recent investments with Bridgecrowd? I've signed up and they now have anot online portal where you can invest from and see all of the active/Complete loans. It seems like everyone has had good experiences with this company but if I could get some recent positive nods that would be great😉. Thanks, Paul I haven't made any new investments recently, because after a long period of most of the things I was investing in paying back early, currently most of my money on the platform is tied up in overdue loans and I'm at my limit until I decide to exit another platform. So currently my monthly interest payments are less than half of what they should be, with a rapidly growing amount of accrued interest owed. I'm NOT worried about this as the LTVs are all a lot lower than most of my other bridging loans on other sites (some of which paying far lower rates), I'm not dependent on a reliable income stream and I've never expected property deals to complete when predicted anyway. So long as you're patient (ie don't try and invest everything at once) and diversify well (across platforms as well as across loans) and are not going to lose sleep if your money ends up tied up longer than expected then yes I'd still recommend them. So they don't keep paying interest like SS if loan overruns? What sort of LTVs? Why do you consider them better quality loans?
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pom
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Post by pom on Jul 17, 2016 20:34:14 GMT
I haven't made any new investments recently, because after a long period of most of the things I was investing in paying back early, currently most of my money on the platform is tied up in overdue loans and I'm at my limit until I decide to exit another platform. So currently my monthly interest payments are less than half of what they should be, with a rapidly growing amount of accrued interest owed. I'm NOT worried about this as the LTVs are all a lot lower than most of my other bridging loans on other sites (some of which paying far lower rates), I'm not dependent on a reliable income stream and I've never expected property deals to complete when predicted anyway. So long as you're patient (ie don't try and invest everything at once) and diversify well (across platforms as well as across loans) and are not going to lose sleep if your money ends up tied up longer than expected then yes I'd still recommend them. So they don't keep paying interest like SS if loan overruns? What sort of LTVs? Why do you consider them better quality loans? Yup - if it overruns or is extended then the interest gets rolled up at the end, but they only allow this if the end LTV doesn't end up too high. The loans I'm in are 33-60% LTV, and all mine are residential. Looking at what else is listed I suspect their limit is 65%. As for "better" - it probably depends on what you're comparing them with.
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Post by doorway on Jul 19, 2016 10:29:44 GMT
I have not been able to call up the FAQ's page, over the last few days. Is this a new problem or a new page, not yet published ?
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pom
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Post by pom on Jul 19, 2016 11:15:07 GMT
I have not been able to call up the FAQ's page, over the last few days. Is this a new problem or a new page, not yet published ? FAQ works fine for me... Edit - should have said, am using Chrome
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