mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 91
Likes: 62
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Post by mcfc on Dec 11, 2023 18:26:52 GMT
New loan in funding on the platform now
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Post by Ace on Dec 11, 2023 19:14:36 GMT
Beware that the rate quoted for this investment is effectively the true annualised rate (XIRR). The rates quoted for all previous loans were effectively half the true XIRR.
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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 Dec 11, 2023 19:16:11 GMT
Thanks Ace,.. Hadn’t realised this.👍🏼
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Post by Ace on Dec 11, 2023 19:26:53 GMT
It's a bit naughty of the platform not to point this out. The only way to tell is to analyse the repayment schedule.
In truth is probably a more honest way to quote rates, but it really should have been pointed out given their previous practice. I expect that most lenders will assume that the method used for calculating rates is regulated, like it is for bank and building society accounts (AER) and for consumer borrowing (APR), but unfortunately its not something that has troubled the FCA to date.
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Post by df on Dec 11, 2023 21:19:21 GMT
New loan in funding on the platform now I thought it was for club members first as usual because I didn't receive an e-mail. Thank you for posting this. I've noticed they now introduced 'copy' button - I like this improvement.
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Post by Ace on Dec 11, 2023 21:53:28 GMT
New loan in funding on the platform now I thought it was for club members first as usual because I didn't receive an e-mail. Thank you for posting this. I've noticed they now introduced 'copy' button - I like this improvement. I didn't get a notification email either. Did you just stumble across it mcfc, or are you a member of a higher club?
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billt
Posts: 90
Likes: 67
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Post by billt on Dec 12, 2023 11:13:02 GMT
I was not aware of this loan, no email either, although I am a club member. Has anyone contacted them for comment.
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Greenwood2
Member of DD Central
Posts: 4,247
Likes: 2,692
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Post by Greenwood2 on Dec 12, 2023 11:16:01 GMT
No email for me, but not sure where I am in the pecking order. Usually you can't see new loans until you get notified and then only through the email link. Or did that change?
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,745
Likes: 3,138
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Post by jonno on Dec 12, 2023 11:31:55 GMT
No email for me, but not sure where I am in the pecking order. Usually you can't see new loans until you get notified and then only through the email link. Or did that change? I agree, but now I'm totally confused. I haven't received an email, but logged on earlier following above posts and I was able to invest. Now when I log on I can't see the latest proposal! Very odd.
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Greenwood2
Member of DD Central
Posts: 4,247
Likes: 2,692
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Post by Greenwood2 on Dec 12, 2023 11:39:45 GMT
No email for me, but not sure where I am in the pecking order. Usually you can't see new loans until you get notified and then only through the email link. Or did that change? I agree, but now I'm totally confused. I haven't received an email, but logged on earlier following above posts and I was able to invest. Now when I log on I can't see the latest proposal! Very odd. Disappeared for me too. I had pledged funds and can see that on my investments, pending pay in, not sure whether to send anything or not, it may go into a black hole. I think I'll wait and see if I get an invite.
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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 Dec 12, 2023 11:42:10 GMT
I thought it was for club members first as usual because I didn't receive an e-mail. Thank you for posting this. I've noticed they now introduced 'copy' button - I like this improvement. I didn't get a notification email either. Did you just stumble across it mcfc , or are you a member of a higher club? I’m not a member of the higher club, and simply stumbled across it whilst checking in on my portfolio. I had some funds sat in my account and so was quite surprised when I was allocated a portion of the loan. In fact I was the first person to invest and so the loan must have just gone live when I’d logged in.
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firedog
Member of DD Central
Posts: 309
Likes: 385
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Post by firedog on Dec 12, 2023 11:52:11 GMT
I suspect an administrative error. These sort of small opportunities are usually snapped up before they're available to the wider market. (Note that as of 11:50 am, the opportunity is no longer available from the Investments page.)
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Post by df on Dec 12, 2023 12:18:56 GMT
I've sent funds early this morning and received confirmation e-mail at 9.53am. The loan shows in my portfolio as a "success". It is a small (£55k) loan, so probably was already filled last night and will appear back on the list as "offer closed" soon. But it is unusual that it wasn't advertised.
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,745
Likes: 3,138
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Post by jonno on Dec 12, 2023 13:02:48 GMT
I agree, but now I'm totally confused. I haven't received an email, but logged on earlier following above posts and I was able to invest. Now when I log on I can't see the latest proposal! Very odd. Disappeared for me too. I had pledged funds and can see that on my investments, pending pay in, not sure whether to send anything or not, it may go into a black hole. I think I'll wait and see if I get an invite. Well, my investment has been confirmed! I'm not sure whether I inadvertently jumped the gun (and the queue) although I still can't see the proposal. Probably safe to make your investment if it's showing as pending.
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Greenwood2
Member of DD Central
Posts: 4,247
Likes: 2,692
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Post by Greenwood2 on Dec 12, 2023 13:11:30 GMT
I've sent funds early this morning and received confirmation e-mail at 9.53am. The loan shows in my portfolio as a "success". It is a small (£55k) loan, so probably was already filled last night and will appear back on the list as "offer closed" soon. But it is unusual that it wasn't advertised. Most of it was still available early this morning, I was surprised more of it hadn't gone overnight. I pledged some funds but when I went back to get the payment details a bit later the loan had disappeared, usually it would just be fully subscribed if that was the case. It is pending pay in in my portfolio and I did get an acknowledgement, but something a bit odd seems to have happened. I guess it will sort itself out.
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