benaj
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Post by benaj on Nov 5, 2020 13:43:13 GMT
Bottom line, lenders will have 0 capital loss and positive return at the end of the loan term.
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Post by Ace on Nov 5, 2020 13:51:19 GMT
Bottom line, lenders will have 0 capital loss and positive return at the end of the loan term. I think you need to replace the word "will" with "are currently forecast to". Only time will tell whether their current forecast will be any more reliable than the previous one, which did not predict the need for negative interest.
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Post by decleoro on Nov 5, 2020 14:37:15 GMT
Bottom line, lenders will have 0 capital loss and positive return at the end of the loan term. I think you need to replace the word "will" with "are currently forecast to". Only time will tell whether their current forecast will be any more reliable than the previous one, which did not predict the need for negative interest. So does this mean that we will start to have interest previously earned taken back? Interest that we have already paid tax on!!  ?
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Post by EJi on Nov 5, 2020 15:21:09 GMT
I think you need to replace the word "will" with "are currently forecast to". Only time will tell whether their current forecast will be any more reliable than the previous one, which did not predict the need for negative interest. So does this mean that we will start to have interest previously earned taken back? Interest that we have already paid tax on!! ? Yes, that's how I understand it. I'm set to have thousands taken from me over the next 3-4 years.
But now they're saying things are dire and they have to rob our interest.
The takeover still isn't complete but they're still going ahead with it? Why if the bussinnes is buggered?
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Post by decleoro on Nov 5, 2020 16:08:48 GMT
So does this mean that we will start to have interest previously earned taken back? Interest that we have already paid tax on!! ? Yes, that's how I understand it. I'm set to have thousands taken from me over the next 3-4 years.
But now they're saying things are dire and they have to rob our interest.
The takeover still isn't complete but they're still going ahead with it? Why if the bussinnes is buggered?
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Post by decleoro on Nov 5, 2020 16:10:16 GMT
Yes, that's how I understand it. I'm set to have thousands taken from me over the next 3-4 years.
But now they're saying things are dire and they have to rob our interest.
The takeover still isn't complete but they're still going ahead with it? Why if the bussinnes is buggered?
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macq
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Post by macq on Nov 5, 2020 16:52:17 GMT
Bottom line, lenders will have 0 capital loss and positive return at the end of the loan term. Can LW guarantee that? (but to be fair not sure any p2p can)
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Post by overthehill on Nov 8, 2020 15:25:41 GMT
I think you need to replace the word "will" with "are currently forecast to". Only time will tell whether their current forecast will be any more reliable than the previous one, which did not predict the need for negative interest. So does this mean that we will start to have interest previously earned taken back? Interest that we have already paid tax on!! ? If I'm off course here just ignore me, but wasn't this announced with cleverly disguised financial text back before covid19. Basically the interest rates were too high the previous years so they needed to claw back a chunk of interest. I've had zero interest since April, I don't think all of it has been going into the provision fund and their covid19 fund, some of it is repaying previously paid out interest.
I think we were given the option to stick or shaft but because I'm not good with clever financial text I decided to stick. I think I've got that the right way round as I've never seen the tv programme!
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Post by buzzablinio on Nov 10, 2020 15:25:46 GMT
I was fuming when I got stung for 'excess' interest on early withdrawal at the start of this year, but reading the latest updates in this thread I think I dodged a bullet. What a shower. Good luck with the forecasted returns but I wouldn't trust LW with the fluff in my pocket.
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IFISAcava
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Post by IFISAcava on Nov 12, 2020 11:53:08 GMT
Just received my first £0.01 of negative interest today - hooray!
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Post by Ace on Nov 12, 2020 12:26:28 GMT
Just received my first £0.01 of negative interest today - hooray! Is this specified on the site somewhere, or have you just noticed a reduction in your balance?
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benaj
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Post by benaj on Nov 12, 2020 13:13:55 GMT
Just received my first £0.01 of negative interest today - hooray! Is this specified on the site somewhere, or have you just noticed a reduction in your balance? I've just checked my partner's account (2018 & 2019 cohort), I haven't noticed any -ve in transaction history yet.
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IFISAcava
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Post by IFISAcava on Nov 12, 2020 13:24:36 GMT
Just received my first £0.01 of negative interest today - hooray! Is this specified on the site somewhere, or have you just noticed a reduction in your balance? reduction in balance
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IFISAcava
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Post by IFISAcava on Nov 12, 2020 13:25:18 GMT
Is this specified on the site somewhere, or have you just noticed a reduction in your balance? I've just checked my partner's account (2018 & 2019 cohort), I haven't noticed any -ve in transaction history yet. nothing in transaction history yet, but balance has reduced by £0.01
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benaj
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Post by benaj on Nov 12, 2020 13:37:47 GMT
I see. So -ve interest cannot be accountable for the record at the moment. Only “temporary” 🤣
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