Ukmikk
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Post by Ukmikk on May 30, 2022 14:06:54 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation.
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markyg61
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Post by markyg61 on May 30, 2022 14:52:36 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation.
totally agree with you
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Post by Badly Drawn Stickman on May 30, 2022 15:51:52 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation.
totally agree with you
Maybe if enough people voted with their money it would help to focus minds. I am quite happy to 'pass' on tomorrows offerings anyway....
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easylender
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Post by easylender on May 30, 2022 20:02:21 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation. In the description for tomorrow's first loan it says "Interest is to be retained on these funds and repaid to lenders monthly at a rate of 7.8% per annum equivalent". Has this changed since you last read it?
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firedog
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Post by firedog on May 30, 2022 20:21:35 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation. In the description for tomorrow's first loan it says "Interest is to be retained on these funds and repaid to lenders monthly at a rate of 7.8% per annum equivalent". Has this changed since you last read it? That's definitely changed.
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Ace
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Post by Ace on May 30, 2022 21:16:20 GMT
In the description for tomorrow's first loan it says "Interest is to be retained on these funds and repaid to lenders monthly at a rate of 7.8% per annum equivalent". Has this changed since you last read it? That's definitely changed. Yes, definitely changed. Here's a cut and paste from the original: " This will go towards clearing the existing debt on the site. Interest is to be retained on these funds and repaid to lenders at expiry of the loan at a rate of 7.8% per annum equivalent."Credit is due if they've listened and reversed the unfair policy. No credit whatsoever for the appalling lack of communication.
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Ukmikk
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Post by Ukmikk on May 31, 2022 9:00:55 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation. In the description for tomorrow's first loan it says "Interest is to be retained on these funds and repaid to lenders monthly at a rate of 7.8% per annum equivalent". Has this changed since you last read it? Yes I think so. Both today's loans appear to have been updated. I haven't received a reply to my query yet but hopefully will at some point. I'll be keeping a close eye on this going forward.
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Ukmikk
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Post by Ukmikk on May 31, 2022 9:14:01 GMT
Also, I wonder when CP are going to realise that interest rates are rising.
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Ace
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Post by Ace on May 31, 2022 9:28:02 GMT
Also, I wonder when CP are going to realise that interest rates are rising. They will be well aware of rising rates, but there's such a large wall of investor cash wanting to be deployed on trusted platforms that they won't need to react for a while. CP's record speaks for itself. The £1.8m loan today went in seconds. There's a £2.5m loan tomorrow at 7.0%, which might be more of a test, but I still expect it to go quickly. Despite the ever growing list of platform issues that they appear to have zero interest in even acknowledging, let alone fixing, I'm still keen for then to take a major slot in my portfolio.
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Ukmikk
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Post by Ukmikk on Jun 1, 2022 12:48:53 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation. So here is the full extent of the response from CP, which in my opinion is verging on contemptuous; Many thanks for getting in touch. Retained interest will be paid out monthly. Kind regards,
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Ace
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Post by Ace on Aug 22, 2022 23:17:13 GMT
The tardy payment of retained interest continues. 4 monthly interest payments for "3 P********s in P******d" were paid today, the first of which was 3 months late.
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Ace
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Post by Ace on Nov 15, 2022 17:22:30 GMT
The tardy payment of retained interest continues. 4 payments for phase 1 of L**d At 18 D****n C***e, S***e H***h, M****t D*****n were received today, 1 payment on 4/11 and 1 payment on 4/10. The first 2 payments were both received ~4 months late, 1 payment 3 months late, 1 payment 2 months late, 1 payment 1 month late and 1 payment on time.
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