mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Dec 14, 2021 17:45:57 GMT
Assetz Capital made a profit last year. So are worth looking at if you are staying in P2P investment. I wonder if the LW selling fees still apply? Still trying to leave assetz. LW fees do still apply. Its business as normal, only change is they have decided to tell everyone they are no longer accepting retail funds. Loans will run down as opposed to intriva buying them and we all get our money back ala zopa /ratesetter.
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Dec 14, 2021 20:19:09 GMT
I'm gobsmacked. Sold 2k worth of loans available at 4pm ish, cash now in wallet!!
I'm guessing intriva are funding the buyback , not surprisingly considering the escape charge.Nice markup.
I could go on moaning but I'm just glad I'm getting out.
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Post by df on Dec 14, 2021 21:43:18 GMT
I'm gobsmacked. Sold 2k worth of loans available at 4pm ish, cash now in wallet!! I'm guessing intriva are funding the buyback , not surprisingly considering the escape charge.Nice markup. I could go on moaning but I'm just glad I'm getting out. Must feel liberating  I've checked the fees, if I sell now it will be @6.6% discount. It's tempting, but it looks like I'm better off staying at negative rate until the end. Last time I've invested was before they've lowered the rate to 4.5%, so in theory I only have to wait for 3 years. Also I won't be surprised if the wind down will be completed earlier than expected.
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Post by overthehill on Dec 15, 2021 9:06:51 GMT
I'm gobsmacked. Sold 2k worth of loans available at 4pm ish, cash now in wallet!! I'm guessing intriva are funding the buyback , not surprisingly considering the escape charge.Nice markup. I could go on moaning but I'm just glad I'm getting out. Must feel liberating I've checked the fees, if I sell now it will be @6.6% discount. It's tempting, but it looks like I'm better off staying at negative rate until the end. Last time I've invested was before they've lowered the rate to 4.5%, so in theory I only have to wait for 3 years. Also I won't be surprised if the wind down will be completed earlier than expected. I'm still on negative interest but the sell quote only has the standard selling fee which I think is 0.5% and the discount fee supposedly due to the current lender offer rates being higher than my loans, this is the part they've just made up in whole or part to earn a nice premium. Hello FCA ? There is no breakdown showing notional interest that I still owe them. In my case they want 8% in total.
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Dec 15, 2021 9:24:34 GMT
It did grate on me having to pay to leave which was around 6.5% meaning I've made nothing over the last 2 years. Wish I'd left at the tail end of 2019 but hindsight is a wonderful thing.
My projected interest was 1.1% if I stayed until loans ended. I've just no faith in them as they've used covid as an excuse for a failing business for 2 years now.
The customers not the investors are the main focus, just look at trustpilot reviews. The review from yesterday made me smile. No responses any more from husn***.😁
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Post by birdie on Dec 15, 2021 9:32:04 GMT
I have had interest repaid all year and it's still coming in daily, my settings are to repay holding account money to my bank account weekly until is empty.
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Post by crabbyoldgit on Dec 15, 2021 19:16:45 GMT
My total investment is 65p with 64p comming up to be repayed to me , now for many months. But for some strange reason never appears in my bank account. Never mind i am reassured that it prob is costing lending works more to administer my account than 65p so they can get on with it. Revenge is best served cold and slow and i hope this goes on for many many years.
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Post by tommy13emails on Dec 16, 2021 16:03:32 GMT
I did try to sell all but the £500 fee put me off so I just take the weekly payments and see it as the money invested in LW is earning +6% by not selling.
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Post by Ace on Dec 16, 2021 16:07:07 GMT
I did try to sell all but the £500 fee put me off so I just take the weekly payments and see it as the money invested in LW is earning +6% by not selling. LW would probably call your method a negative sales fee 🙄
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Post by birdie on Dec 21, 2023 9:27:17 GMT
Just had my last repayment from Lending Works, loans I couldn't sell, finally my account is empty.
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I've checked the fees, if I sell now it will be @6.6% discount. It's tempting, but it looks like I'm better off staying at negative rate until the end. Last time I've invested was before they've lowered the rate to 4.5%, so in theory I only have to wait for 3 years. Also I won't be surprised if the wind down will be completed earlier than expected.
