davidkent
I think. Therefore I am.
Posts: 26
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Post by davidkent on Jan 17, 2022 15:56:11 GMT
The sites are more complicated than they need be.
Thanks!
I think you should have given Unbolted a bit longer. I may return when it seems appropriate. But it does seem to be on the slow side: nonetheless, as I say, I may go back.
Cheers
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agent69
Member of DD Central
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Post by agent69 on Jan 17, 2022 17:31:16 GMT
I can't remember which company asked about my worth, but I was, and remain astonished at any company doing this. If this information is actually necessary, then why don't other P2P companies request it? In the upshot, a business behaving like this immediately makes me very wary about it, so it is counter-productive. In my opinion, if I am asked my worth in order to determine whether I can afford to invest, hints at how the company may view investors...
No platform should ask your exact worth. They should ask you to certify which category you belong to (Definitions copied from Kuflink) :- Everyday/Retail/Restricted investorsThose who do not have much experience because this is their first or second investment on a P2P platform. Therefore, they can only invest a relatively small amount into P2P until they have a better grasp of the possible risks. On this occasion 'relatively small' means no more than 10% of their net investable assets* for the next 12 months. * Excluding the value of their home and any of their pension-related savings. Self-Certified Sophisticated InvestorThey have invested in P2P platforms at least twice before and have built a good understanding of the risks associated with P2P lending and loans that are secured against UK property. High Net Worth Individual
They have an annual income of a minimum of £100k from sources other than their pension or they own assets in excess of £250k which excludes the value of their pension pot and their home. Using this criteria, I wonder if there are any sophisticated platform operators out there
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