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Post by nutfield on Feb 3, 2020 13:40:47 GMT
I think that the problem is that LW were not upfront with the need to replenish the provision fund. If they had said that they needed us to take a modest "haircut" for a defined period, most of us would have understood. What i dont like is the rather underhand way that this has been done.
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kaya
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Post by kaya on Feb 3, 2020 13:49:44 GMT
'To be fair' only holds 'true' if the platform does not go bust, or if losses can be covered. We are getting closer to negative returns.
Not at all 'fair' how they have obfuscated the facts, though if they had been honest they would have faced massive withdrawal requests.
This platform is now a struggling wounded dog. Might recover. Might die.
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benaj
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Post by benaj on Feb 3, 2020 18:59:02 GMT
I was about to post an UPDATE on my partner's Growth XIRR (2-Jan-2020 to 3 Feb 2020), but i think it's better to wait until Friday (2-Jan-2020 to 7 Feb 2020) to see a better picture due to "Repayments from borrowers" options in Lending settings. It seems it's better than "expected" after the "adjustment".
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Post by jojo on Feb 3, 2020 21:26:04 GMT
I did receive a 2% for Jan20, which is much higher than any current bank rate. Still, i feel disappointed by the changes but I trust them that it was a necessary change for the long term, i have noticed that the interest shortfall fees have kept going down throughout the month of Jan , still high but I am happy to keep my investment for the year as per my calculation, interests shortfall should be much lower after summer and interest rates return higher.
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Post by gravitykillz on Feb 4, 2020 6:28:39 GMT
A poultry £4.28 on 7.5k in Classic.
I am speechless.
I got £50 for £36k in my premium bonds today. Seriously thinking about moving some cash to assetz and loanpad soon.
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Post by gravitykillz on Feb 4, 2020 6:32:28 GMT
Lol. Premium bonds are now giving a better return than lending works !!
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r00lish67
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Post by r00lish67 on Feb 4, 2020 8:51:26 GMT
I got £50 for £36k in my premium bonds today. Seriously thinking about moving some cash to assetz and loanpad soon. According to the MSE calculator, you were lucky in this draw (expected prizes of £450 a year from £36k)
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Post by carol167 on Feb 4, 2020 8:56:29 GMT
I got £50 for £36k in my premium bonds today. Seriously thinking about moving some cash to assetz and loanpad soon. According to the MSE calculator, you were lucky in this draw (expected prizes of £450 a year from £36k) My all time average on Premium Bonds (since Oct 2006) is 1.52% and I've averaged £77 a month for the last 12 months.
Definately worth a punt if you have spare cash.
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pom
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Post by pom on Feb 4, 2020 11:35:11 GMT
I don't understand why there is such a % disparity between my two accounts.
Presumably you were a non-ISA investor for a fair while before you opened your ISA...so your loan breakdown by cohorts will be quite different.
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Post by carol167 on Feb 4, 2020 11:46:27 GMT
I don't understand why there is such a % disparity between my two accounts.
Presumably you were a non-ISA investor for a fair while before you opened your ISA...so your loan breakdown by cohorts will be quite different.
Correct.
So, basically the longer you were with LW, the more you're getting screwed with the % rate going forward. What an excellent way to treat people, LW.
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IFISAcava
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Post by IFISAcava on Feb 4, 2020 13:05:56 GMT
Presumably you were a non-ISA investor for a fair while before you opened your ISA...so your loan breakdown by cohorts will be quite different.
Correct.
So, basically the longer you were with LW, the more you're getting screwed with the % rate going forward. What an excellent way to treat people, LW.
because the longer you have been with LW, the longer you have received higher rates of interest in the past
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Post by carol167 on Feb 4, 2020 13:13:19 GMT
Correct.
So, basically the longer you were with LW, the more you're getting screwed with the % rate going forward. What an excellent way to treat people, LW.
because the longer you have been with LW, the longer you have received higher rates of interest in the past Loyalty should count for something - not extra punishment.
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IFISAcava
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Post by IFISAcava on Feb 4, 2020 13:19:13 GMT
because the longer you have been with LW, the longer you have received higher rates of interest in the past Loyalty should count for something - not extra punishment. agreed
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benaj
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Post by benaj on Feb 4, 2020 14:09:22 GMT
Loyalty should count for something - not extra punishment. agreed I agree Loyalty should not be punished. I suppose a different scenario could have happened, if the 2018 & 2019 loans performed badly than 2017, then investors in those loans would have take a bigger hit than the loyal ones.
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Post by Deleted on Feb 4, 2020 14:26:24 GMT
I got £50 for £36k in my premium bonds today. Seriously thinking about moving some cash to assetz and loanpad soon. According to the MSE calculator, you were lucky in this draw (expected prizes of £450 a year from £36k) Agreed. £50 per month would be £600pa giving a return of 1.67%pa on 36k. The prize fund uses an interest rate of 1.4% so definitely above average luck.
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