|
Post by df on Jul 16, 2021 23:06:23 GMT
I am just about thinking about taking my toe's out of my slippers to test the water but there is so little information on the website (without signing up) that it hard to know if I will be wasting my time. So can anyone give me an idea of the amount of information provided on each loan and is this sufficient to make a judgement on the ability to repay, credit worthiness etc; Also am I correct these are all unsecured loans are their Guarantees or other forms of security ? It's difficult to say if there's enough info. For some people there will never be enough, others won't even read what's provided. I manage some P2P accounts for friends and family and have some of both of these types (though not for Qardus). There's enough info for me. The company name, address and CH registration number are provided, as is the name of the principal, so enough to start your own DD. The company financials for the recent past (3 years) are also provided. The loan is basically unsecured. There's a PG, but we all know what they're worth. Rightly or wonton wrongly I take comfort from the amortising nature of the loans. In my experience fewer amortising loans fail to repay than interest only loans. Perhaps due to there being a smaller capital amount owed as each month passes, so the borrower feels it's less worth going through the defaulting process over a smaller and smaller sum. Or perhaps it just makes it easier to refinance if necessary. Not sure I've explained that very well, or even convinced myself now I've tried to write it down! Anyway, as Dave said, why not sign up and take a look? The same here. Unsecured fully amortising has a much bigger tick than secured on RICS branded LTGDVs. Rightly or wrongly, but in my personal experience interest-only bullet loans tend to produce more losses than amortising. The other comfort point for me is the ethos - yes, the risk is always there, but I don't expect any fraudulent actions from this platform or their borrowers.
|
|
|
Post by Ace on Jul 17, 2021 8:03:13 GMT
It's difficult to say if there's enough info. For some people there will never be enough, others won't even read what's provided. I manage some P2P accounts for friends and family and have some of both of these types (though not for Qardus). There's enough info for me. The company name, address and CH registration number are provided, as is the name of the principal, so enough to start your own DD. The company financials for the recent past (3 years) are also provided. The loan is basically unsecured. There's a PG, but we all know what they're worth. Rightly or wonton wrongly I take comfort from the amortising nature of the loans. In my experience fewer amortising loans fail to repay than interest only loans. Perhaps due to there being a smaller capital amount owed as each month passes, so the borrower feels it's less worth going through the defaulting process over a smaller and smaller sum. Or perhaps it just makes it easier to refinance if necessary. Not sure I've explained that very well, or even convinced myself now I've tried to write it down! Anyway, as Dave said, why not sign up and take a look? The same here. Unsecured fully amortising has a much bigger tick than secured on RICS branded LTGDVs. Rightly or wrongly, but in my personal experience interest-only bullet loans tend to produce more losses than amortising. The other comfort point for me is the ethos - yes, the risk is always there, but I don't expect any fraudulent actions from this platform or their borrowers. I get a similar feeling, but the cynic in me says there are wrong'uns in all walks of life.
|
|
alibaba
Member of DD Central
Posts: 341
Likes: 245
|
Qardus
Jul 17, 2021 15:20:22 GMT
Ace likes this
Post by alibaba on Jul 17, 2021 15:20:22 GMT
Put a chunk in this one yesterday, I hope that the latest loan fills, pure gut instinct I would like to see Qardus succeed.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Qardus
Jul 17, 2021 21:38:58 GMT
Ace likes this
Post by littleoldlady on Jul 17, 2021 21:38:58 GMT
The same, done it 2 days ago. Found the process of investing confusing. As as was trying to invest from cash balance I ended up with another "Pending pay in". Got a similar issue a couple of times with Rebs and there is no way to cancel it on-line. I guess it doesn't matter, what I wanted to invest displays as "invested". Embarrassingly, I've made the same mistake on two different loans now. I've let them know that the process is a bit confusing. They've said they will take a look. I found an earlier problem with the website and they did fix that one. I think I might have had the same issue on AxiaFunder a couple of years back. Both platforms use the ShareIn infrastructure, so that's probably where the issue lies. I'm so glad I'm not the only one!
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Jul 28, 2021 16:49:01 GMT
Khalidoscope has been pulled, pity. Deal flow is my main concern with Q.
|
|
|
Qardus
Jul 28, 2021 18:13:59 GMT
via mobile
Post by birdie on Jul 28, 2021 18:13:59 GMT
Unfortunately that was my first investment with Qardus, just have to wait until the next opportunity arrives.
|
|
firedog
Member of DD Central
Posts: 300
Likes: 380
Member is Online
|
Qardus
Jul 28, 2021 18:59:55 GMT
Post by firedog on Jul 28, 2021 18:59:55 GMT
Unfortunately that was my first investment with Qardus, just have to wait until the next opportunity arrives. Mine too: disappointing.
|
|
|
Qardus
Jul 28, 2021 20:57:25 GMT
Post by honeybadger on Jul 28, 2021 20:57:25 GMT
Yes that was a shame. Oh well.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Jul 28, 2021 20:59:28 GMT
Still, a loan pulled is better than a loan defaulted. Plaudits to Q for putting safety first.
|
|
alibaba
Member of DD Central
Posts: 341
Likes: 245
|
Post by alibaba on Jul 29, 2021 9:45:00 GMT
Just had message from Qardus
Dear Investor, To clarify further, the business failed to adhere to the terms of the signed agreement. So we decided to not proceed with the drawdown of funds in order to safeguard investor interests. We plan to have other offers on the Qardus platform soon. Please note you can reach out to our team with any further queries.
(Gives one confidence to know that they put our interest ahead of taking a risk on a loan.)
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Aug 18, 2021 16:30:55 GMT
The same, done it 2 days ago. Found the process of investing confusing. As as was trying to invest from cash balance I ended up with another "Pending pay in". Got a similar issue a couple of times with Rebs and there is no way to cancel it on-line. I guess it doesn't matter, what I wanted to invest displays as "invested". Embarrassingly, I've made the same mistake on two different loans now. I've let them know that the process is a bit confusing. They've said they will take a look. I found an earlier problem with the website and they did fix that one. I think I might have had the same issue on AxiaFunder a couple of years back. Both platforms use the ShareIn infrastructure, so that's probably where the issue lies. It seems that there is no point in leaving cash on the site, unless it is sufficient to cover your next investment, as the bank transfer has to be for the amount you want to invest ie you can't take some from your wallet and some from a new transfer. It might be possible to top up the wallet first and then take it all from the wallet. I just did a transfer of the whole amount that I want to invest despite having nearly half that in my wallet. I then went to withdraw the funds already in the wallet but it won't let me because I have a transfer pending, even though the transfer amount is not yet in the wallet. Crazy and irritating. I notice that the reference for the bank transfer is in mixed case but my bank (First Direct using HSBC systems) displays it all in upper case. It might send it in mixed case though. Edit: It went though OK so FD must send it in mixed case but display it in upper case - assuming that it really is case sensitive
|
|
|
Qardus
Aug 19, 2021 17:40:16 GMT
Post by df on Aug 19, 2021 17:40:16 GMT
Yes i cocked up my first investment payment too . basically bank to wallet, wallet to (click on investment and download info ect, then green invest button at bottom) investment, or directly from bank (take careful note of the investment info to input bank) to loan (click on investment and download info ect, then green invest button at bottom). On plus side withdraws are very easy and quick (next working day) which is handy to reduce cash drag as loan flow is slow at present. Also e mail alerts of dividend and CP repayments. Very helpful via e mail also with quick and clear info. I've tried to get it right this time. Followed your instructions. 1. Made a deposit (it was credited to my wallet). 2. Clicked on the loan, downloaded info and clicked on the green button "invest directly" (the only option available) 3. Input the amount, clicked "confirm" and continue to payment. 4. Next page is asking me to make another deposit, which I'm ignoring because I already have money in my wallet. I can't see any confirmation whether money is invested in this loan or not. Most likely not - "my portfolio" page shows total £xxx.00, invested £0.00, cash balance £xxx.00. Where did I go wrong? I've tried to call, but nobody answered. Sent a message through the website, had no reply so far.
|
|
|
Qardus
Aug 19, 2021 18:21:35 GMT
df likes this
Post by Ace on Aug 19, 2021 18:21:35 GMT
Yes i cocked up my first investment payment too . basically bank to wallet, wallet to (click on investment and download info ect, then green invest button at bottom) investment, or directly from bank (take careful note of the investment info to input bank) to loan (click on investment and download info ect, then green invest button at bottom). On plus side withdraws are very easy and quick (next working day) which is handy to reduce cash drag as loan flow is slow at present. Also e mail alerts of dividend and CP repayments. Very helpful via e mail also with quick and clear info. I've tried to get it right this time. Followed your instructions. 1. Made a deposit (it was credited to my wallet). 2. Clicked on the loan, downloaded info and clicked on the green button "invest directly" (the only option available) 3. Input the amount, clicked "confirm" and continue to payment. 4. Next page is asking me to make another deposit, which I'm ignoring because I already have money in my wallet. I can't see any confirmation whether money is invested in this loan or not. Most likely not - "my portfolio" page shows total £xxx.00, invested £0.00, cash balance £xxx.00. Where did I go wrong? I've tried to call, but nobody answered. Sent a message through the website, had no reply so far. From memory (so could be wrong), at your point 3... After clicking confirm there are 2 options; one to pay from wallet, and one to pay via bank transfer. Perhaps the pay via bank transfer was selected by default. In your portfolio there should be an entry under "current investments" for the project where you can check the payment status. Mine says Payment status: BACS payment (with the amount) and it's labelled as "complete".
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Qardus
Aug 19, 2021 18:33:51 GMT
Post by littleoldlady on Aug 19, 2021 18:33:51 GMT
Now I can't get Withdraw Funds to work at all.
|
|
|
Qardus
Aug 19, 2021 19:09:48 GMT
Ace likes this
Post by df on Aug 19, 2021 19:09:48 GMT
I've tried to get it right this time. Followed your instructions. 1. Made a deposit (it was credited to my wallet). 2. Clicked on the loan, downloaded info and clicked on the green button "invest directly" (the only option available) 3. Input the amount, clicked "confirm" and continue to payment. 4. Next page is asking me to make another deposit, which I'm ignoring because I already have money in my wallet. I can't see any confirmation whether money is invested in this loan or not. Most likely not - "my portfolio" page shows total £xxx.00, invested £0.00, cash balance £xxx.00. Where did I go wrong? I've tried to call, but nobody answered. Sent a message through the website, had no reply so far. From memory (so could be wrong), at your point 3... After clicking confirm there are 2 options; one to pay from wallet, and one to pay via bank transfer . Perhaps the pay via bank transfer was selected by default. In your portfolio there should be an entry under "current investments" for the project where you can check the payment status. Mine says Payment status: BACS payment (with the amount) and it's labelled as "complete". Thank you! I didn't see "pay from wallet" option. I've done it now and it displays that my money is invested.
|
|