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Post by decleoro on Apr 11, 2022 17:31:38 GMT
Excellent results. I would be keen to follow a complaint if they are likely to make an offer. I've had to chase them again today to get them to transfer my monthly isa amount. Do you think this would be as positive for investors like myself who have paid the extortionate fee to sell sellable loans? Currently left with dregs from the remainder.
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mogish
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Post by mogish on Apr 11, 2022 21:07:35 GMT
Complaint sent today. Nothing to lose.
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mogish
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Post by mogish on May 3, 2022 11:32:12 GMT
Remember Lw suggested no investors would lose money?
Just checked my projected return on the reducing balance and it now shows 0% return.... anyone else experienced this?
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Post by df on May 3, 2022 12:20:27 GMT
Remember Lw suggested no investors would lose money? Just checked my projected return on the reducing balance and it now shows 0% return.... anyone else experienced this? Don't know about my projected return, but I check my XIRR every Friday and it is gradually reducing (currently 1.33%). All my loans were 6% and 6.5% when invested.
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Post by overthehill on May 3, 2022 12:45:09 GMT
Remember Lw suggested no investors would lose money? Just checked my projected return on the reducing balance and it now shows 0% return.... anyone else experienced this? Don't know about my projected return, but I check my XIRR every Friday and it is gradually reducing (currently 1.33%). All my loans were 6% and 6.5% when invested.
My advice to every lender is to submit a claim to Lending Works and then the Financial Ombudsman. Lending Works will say after a few weeks they haven't had time to investigate it fully and give you the option of going to the ombudsman.
I've ONLY claimed for the negative interest that was deducted from account over 2 years, not the loss of interest, i.e. effectively 0% or the 4% penalty fees racket to withdraw even after 2 years of negative interest !
If anybody wants a copy of my ombudsman text then let me know , everyone is in the same identical boat.
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mogish
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Post by mogish on May 3, 2022 20:33:32 GMT
Don't know about my projected return, but I check my XIRR every Friday and it is gradually reducing (currently 1.33%). All my loans were 6% and 6.5% when invested.
My advice to every lender is to submit a claim to Lending Works and then the Financial Ombudsman. Lending Works will say after a few weeks they haven't had time to investigate it fully and give you the option of going to the ombudsman.
I've ONLY claimed for the negative interest that was deducted from account over 2 years, not the loss of interest, i.e. effectively 0% or the 4% penalty fees racket to withdraw even after 2 years of negative interest !
If anybody wants a copy of my ombudsman text then let me know , everyone is in the same identical boat.
Yes a copy of the text would be much appreciated overthehill. Lw responded last week in the manner you advised but requeted more time. Not sure if this is a delay tactic, So far ive not gone to the ombudsman as i was waiting on LW response first. The 0% just rubs even more salt into the wound.
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Post by overthehill on May 3, 2022 20:37:57 GMT
My advice to every lender is to submit a claim to Lending Works and then the Financial Ombudsman. Lending Works will say after a few weeks they haven't had time to investigate it fully and give you the option of going to the ombudsman.
I've ONLY claimed for the negative interest that was deducted from account over 2 years, not the loss of interest, i.e. effectively 0% or the 4% penalty fees racket to withdraw even after 2 years of negative interest !
If anybody wants a copy of my ombudsman text then let me know , everyone is in the same identical boat.
Yes a copy of the text would be much appreciated overthehill. Lw responded last week in the manner you advised but requeted more time. Not sure if this is a delay tactic, So far ive not gone to the ombudsman as i was waiting on LW response first. The 0% just rubs even more salt into the wound.
You need to wait for the 2nd one when they add note saying you can optionally refer to the ombudsman rather than waiting any longer. I don't know how long LW take to reject the complaint, too cynical? I'll DM the text which might save you some time, it's nothing special.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 3, 2022 20:57:29 GMT
Yes a copy of the text would be much appreciated overthehill. Lw responded last week in the manner you advised but requeted more time. Not sure if this is a delay tactic, So far ive not gone to the ombudsman as i was waiting on LW response first. The 0% just rubs even more salt into the wound.
You need to wait for the 2nd one when they add note saying you can optionally refer to the ombudsman rather than waiting any longer. I don't know how long LW take to reject the complaint, too cynical? I'll DM the text which might save you some time, it's nothing special.
They have 8 week to provide a final response ... if they do then you can go to the FOS if you dont accept it, if they dont then you can go to FOS as they are out of time
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Post by overthehill on May 3, 2022 21:36:51 GMT
Yes a copy of the text would be much appreciated overthehill. Lw responded last week in the manner you advised but requeted more time. Not sure if this is a delay tactic, So far ive not gone to the ombudsman as i was waiting on LW response first. The 0% just rubs even more salt into the wound.
You need to wait for the 2nd one when they add note saying you can optionally refer to the ombudsman rather than waiting any longer. I don't know how long LW take to reject the complaint, too cynical? I'll DM the text which might save you some time, it's nothing special.
I received this from LW 1 month after submitting a complaint. You don't have to wait for their final response. I didn't.
"If you are dissatisfied with the progress of the investigation into your complaint, you now have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this email."
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mogish
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Post by mogish on May 18, 2022 16:58:39 GMT
Response no 2 recieved today requested another 3 weeks.
Thanks for the info overthehill.
I didnt mention figures in my complaint however I get the feeling the next response will be go to the Fos.
We shall see.
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scooter
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Post by scooter on May 18, 2022 17:38:57 GMT
Response no 2 recieved today requested another 3 weeks. Thanks for the info overthehill. I didnt mention figures in my complaint however I get the feeling the next response will be go to the Fos. We shall see. I got exactly the same response today. I did mention figures.......
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Post by borderer on May 19, 2022 5:35:33 GMT
I got the same response about two weeks ago - they are still investigating. The complaint is not difficult to understand and all LW have to decide is do they agree with the principle behind the complaint.
It seems they are just playing for time
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mogish
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Post by mogish on May 26, 2022 14:36:29 GMT
Response now recieved with an offer. I feel the offer is reasonable and intend to accept. Glad I didnt have to go to any further effort and just now want to put the experience down to a poor investment decision which overall Ive prob not lost overall on, just annoying that ive spent lots of valuable hours , paid fees(reluctantly)and worried about my capital dissapearing.
Thanks to all LW investors for the guidance and experience youve recieved, big thanks to overthehill for the tips.
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scooter
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Post by scooter on May 26, 2022 14:40:50 GMT
Was it a goodwill gesture of £100 by any chance? Mine was.
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mogish
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Post by mogish on May 26, 2022 14:46:17 GMT
Slightly more. Maybe depends on what balance you had or originally invested. Im prob basically getting my own money back that I paid in fees!
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