zlb
Member of DD Central
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Post by zlb on Nov 8, 2021 21:24:30 GMT
From March onwards, no interest payments are recorded. I downloaded it to check and the data is the same as on screen. There has been the odd pledge about once per month. So I'm wondering whether I'm seeing evidence of what people are discussing here - but, if I have no transactions at all for 8 months, that implies that every single project is new and not paying anything? Sounds like all your loans pay accrued interest i.e. when the loan is repaid. Some loans pay interest monthly, probably in the minority. If your loans are in the Started tab then they are earning interest.
ah thanks. It's my vague memory that this was a platform only of jam for tomorrow but, given that I had regular drip feed payments up to March and then nothing.. anyway, thanks for the tip, I'll have a look
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cb25
Posts: 3,521 
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Post by cb25 on Nov 9, 2021 14:56:32 GMT
Are you sure these are unique loans? I thought I had a share in most recent loans, but I "only" have 11 unique committed loans waiting to draw down including today's. I have 16 if I count duplicates, I.e. Standard and ISA, or Manual and Auto.
14 distinct loans, some manual, some auto but not both. Earliest "Loan Start" date 16/09/22 - Land W*** ** H******** F***
I've received the following from CP in response to me complaining (twice, first message was ignored for days) about my money being stuck for weeks earning no interest:
"Please accept my apologies for not responding to your first message sooner, we were awaiting an update on this project. There have been a number of delays on the completion of this loan and we have now given a deadline of Friday for completion to take place, if this deadline is not met, we will be returning all funds to investors. We fully appreciate the frustration and inconvenience caused by the delay"
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 91
Likes: 62
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Post by mcfc on Nov 9, 2021 16:58:41 GMT
14 distinct loans, some manual, some auto but not both. Earliest "Loan Start" date 16/09/22 - Land W*** ** H******** F***
I've received the following from CP in response to me complaining (twice, first message was ignored for days) about my money being stuck for weeks earning no interest:
"Please accept my apologies for not responding to your first message sooner, we were awaiting an update on this project. There have been a number of delays on the completion of this loan and we have now given a deadline of Friday for completion to take place, if this deadline is not met, we will be returning all funds to investors. We fully appreciate the frustration and inconvenience caused by the delay"
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 91
Likes: 62
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Post by mcfc on Nov 9, 2021 16:59:35 GMT
I've received the following from CP in response to me complaining (twice, first message was ignored for days) about my money being stuck for weeks earning no interest:
"Please accept my apologies for not responding to your first message sooner, we were awaiting an update on this project. There have been a number of delays on the completion of this loan and we have now given a deadline of Friday for completion to take place, if this deadline is not met, we will be returning all funds to investors. We fully appreciate the frustration and inconvenience caused by the delay"
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 91
Likes: 62
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Post by mcfc on Nov 9, 2021 17:01:05 GMT
Thank you for sharing the info cb25. I have also made a pledge on this loan and it has been really frustrating having my capital sat idle waiting for the loan to close. We shall now wait and see what Friday brings in relation to this.
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Post by overthehill on Nov 11, 2021 16:45:53 GMT
If my loans haven't started by tomorrow, I'm cancelling the pledges as the delays, cash drag and deceptive returns esp. for shorter loans are starting to irritate me and I want to reduce my holdings anyway. I haven't seen any explanations of what is going on although I haven't been reading the weekly update recently. My guess is the materials shortage problems.
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Nomad
Member of DD Central
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Likes: 494
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Post by Nomad on Nov 12, 2021 19:07:23 GMT
If my loans haven't started by tomorrow, I'm cancelling the pledges as the delays, cash drag and deceptive returns esp. for shorter loans are starting to irritate me and I want to reduce my holdings anyway. I haven't seen any explanations of what is going on although I haven't been reading the weekly update recently. My guess is the materials shortage problems. I've cancelled pledges over a month old and will continue to do this...
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deltron
Member of DD Central
Posts: 54
Likes: 66
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Post by deltron on Nov 12, 2021 20:12:56 GMT
Land w*** of H******** F*** was fully funded on 31/8/21. That's £610,000 that should have been earning 7.4% interest for the last 2 and a half months, but instead . . . diddly squat. Write to them about this, ask for your money back, because it's an appalling state of affairs.
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Post by overthehill on Nov 12, 2021 21:13:19 GMT
If my loans haven't started by tomorrow, I'm cancelling the pledges as the delays, cash drag and deceptive returns esp. for shorter loans are starting to irritate me and I want to reduce my holdings anyway. I haven't seen any explanations of what is going on although I haven't been reading the weekly update recently. My guess is the materials shortage problems. I've cancelled pledges over a month old and will continue to do this...
I cancelled one but my other one surprisingly started today, just in the nick of time, a week before the estimate of 19Nov.
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 91
Likes: 62
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Post by mcfc on Nov 12, 2021 21:16:55 GMT
I've cancelled pledges over a month old and will continue to do this...
I cancelled one but my other one surprisingly started today, just in the nick of time, a week before the estimate of 19Nov.
I have almost 1k pledged on this project. I am quite appalled that it has not yet closed and the CP have given no reasonable explanation/ apology for this. What on earth is going on with what was once a decent P2P site..
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firedog
Member of DD Central
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Member is Online
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Post by firedog on Nov 15, 2021 17:57:43 GMT
If my loans haven't started by tomorrow, I'm cancelling the pledges as the delays, cash drag and deceptive returns esp. for shorter loans are starting to irritate me and I want to reduce my holdings anyway. I haven't seen any explanations of what is going on although I haven't been reading the weekly update recently. My guess is the materials shortage problems. Probably true, but I don't see why, as lenders, we should be bearing the brunt of this? Every day of delay means we're effectively losing money, while there is no impact on the lender who initiated the loan. Have to say, very poor from CrowdProperty. The lack of communication here, and in general, is starting to raise wee flags.
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ton27
Member of DD Central
Posts: 431
Likes: 267
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Post by ton27 on Nov 16, 2021 17:14:58 GMT
What bothers me about the "wee flags" is that CP seem unwilling to address them.
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Post by Ace on Nov 25, 2021 9:41:18 GMT
Land w*** of H******** F*** was fully funded on 31/8/21. That's £610,000 that should have been earning 7.4% interest for the last 2 and a half months, but instead . . . diddly squat. Write to them about this, ask for your money back, because it's an appalling state of affairs. The loan has finally started today 25th Nov.
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Post by overthehill on Nov 25, 2021 11:33:24 GMT
Land w*** of H******** F*** was fully funded on 31/8/21. That's £610,000 that should have been earning 7.4% interest for the last 2 and a half months, but instead . . . diddly squat. Write to them about this, ask for your money back, because it's an appalling state of affairs. The loan has finally started today 25th Nov.
This is now a pattern, not random and not coincidence. It would be interesting to know what is going on. Materials shortage, bank interest (1M at 1% is £830pm) , getting in ahead of loan competitors ?
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deltron
Member of DD Central
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Post by deltron on Nov 26, 2021 2:54:47 GMT
Land w*** of H******** F*** was fully funded on 31/8/21. That's £610,000 that should have been earning 7.4% interest for the last 2 and a half months, but instead . . . diddly squat. Write to them about this, ask for your money back, because it's an appalling state of affairs. The loan has finally started today 25th Nov. Too late for me, I'm afraid. I demanded my pledge be returned on this loan and a handful of others that were about 6 weeks late in starting. I have noticed that there's been a slew of loan start dates recently, and the percentage of my portfolio that is 'Not Started' has dropped from 50% to 10%. However I have mostly paused new lending for now so that would've made a difference.
Appalling performance by CP all round - no information provided, no interest accrued, and zero figs given. With an attitude like that I'm sure this will all end well.
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