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Post by fundingsecure on Mar 30, 2016 19:54:28 GMT
With apologies for the late hour - and therefore brief information. We are offering cashback on three loans - one existing one and two new ones, being posted this evening. CASHBACKA 1% cashback will be paid to all investors in these loans, to be credited to your account when loans are activated IN ADDITION: BONUSESInvestments of £25,000 and more 1% i.e. 13% p.a Investments of £50,000 and more 2% i.e. 14% p.a Investments of £100,000 and more 4% i.e. 16% p.a Links to the emails here and here. FundingSecure |
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Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564 
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Post by Investboy on Apr 4, 2016 13:54:15 GMT
If those loans were so urgent and had to be funded in just one day before 31/March why are they still not activated / draw down?
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on Apr 4, 2016 14:00:05 GMT
I expect the urgency was to get the 31 March date onto the paperwork rather than actually handling the cash. Edit ... and now the Poole loan has been cancelled and cash returned .."the seller/seller's solicitor didn't do their job" so the date was missed and 3% extra tax was added to the purchase price. Buyer pulled out. FS giving 0.5% to disappointed lenders.  * (hard luck you HNWs who were on 16%+1%  ) * already got my £1.75  16:40 BST |
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Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564
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Post by Investboy on Apr 4, 2016 14:59:45 GMT
Bungalow and Mews also cancelled.
I guess there will be a bunch of p****d off HNW-ers
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Post by Deleted on Apr 4, 2016 15:16:33 GMT
These things happen, especially when there is a tight deadline.
Full marks to FundingSecure for making sure none of the lenders ended up out of pocket, even though the fault was not theirs.
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Apr 4, 2016 15:29:08 GMT
These things happen, especially when there is a tight deadline. Full marks to FundingSecure for making sure none of the lenders ended up out of pocket, even though the fault was not theirs. He's nicked the name I called him!!! I didn't think we could change our forum nicknames. No fun taking the nick mick now! 
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Post by Deleted on Apr 4, 2016 15:42:45 GMT
Hey grumpy, yes you can change the forum names, posted my thanks a few posts back
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Post by fundingsecure on May 4, 2016 11:44:19 GMT
We have three property loans on our platform that are offering additional incentives to investors:
Birmingham Land - 1186035588
Gleneagles Estate - 2227407628
Both of these loans are already offering bonuses but are now additionally offering a 1% CASHBACK to ALL investors.
This will be paid into each investors account when the loans are activated.
NOTE: These loans are already paying interest from 3rd May
Astbury Property - 1804018228
Bonus interest now available as follows:
Investments of £25,000 and over +1% i.e. pays 13% pa
Investments of £50,000 and over +2% i.e. pays 14% pa
Investments of £100,000 and over +3% i.e. pays 15% pa
All interest will be paid from 9th May
Additional information is available on the web site
FundingSecure
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stevio
Member of DD Central
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Post by stevio on May 4, 2016 11:50:21 GMT
I'd be interested in hearing people's thoughts on this - similar CB has been offered on SS and MT, however their SM is far more liquid - due to the large amount that will most likely go on the SM, a discount might need to be offered, negating the CB, at least a little - a months interest is tempting, but would likely need to hold till the end of the loan, therefore unsure I want to make a large investment in just a couple loans?
Additionally, the other loans with bonuses didn't go through, should we move money around and potentially miss out on other deals or sell other deals, there is no guarantee these will go through and pay the CB?
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stevio
Member of DD Central
Posts: 2,065
Likes: 894
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Post by stevio on May 4, 2016 12:53:56 GMT
I'd be interested in hearing people's thoughts on this - similar CB has been offered on SS and MT, however their SM is far more liquid - due to the large amount that will most likely go on the SM, a discount might need to be offered, negating the CB, at least a little - a months interest is tempting, but would likely need to hold till the end of the loan, therefore unsure I want to make a large investment in just a couple loans? Additionally, the other loans with bonuses didn't go through, should we move money around and potentially miss out on other deals or sell other deals, there is no guarantee these will go through and pay the CB? Is everyone too busy moving their money around to comment ?
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Jeepers
Member of DD Central
Posts: 818
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Post by Jeepers on May 4, 2016 12:58:01 GMT
I'm just hoping people sell on the SS secondary market for it. Not interested in these cashback loans.
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Steerpike
Member of DD Central
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Post by Steerpike on May 4, 2016 13:03:17 GMT
Not too keen on the Brummie one, the other looks OK on the face of it.
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nick
Member of DD Central
Posts: 1,056
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Post by nick on May 4, 2016 13:55:05 GMT
"BONUSES
Investments of £25,000 and more 1% i.e. 13% p.a"
My maths may be a bit rusty, but doesn't 1% received on a 6 mth loan equate to 2%, and thus 12%+2%=14% etc, etc. And I thought my maths was bad...........
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mikes1531
Member of DD Central
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Post by mikes1531 on May 4, 2016 14:07:21 GMT
"BONUSES Investments of £25,000 and more 1% i.e. 13% p.a" My maths may be a bit rusty, but doesn't 1% received on a 6 mth loan equate to 2%, and thus 12%+2%=14% etc, etc. And I thought my maths was bad........... : I think you're confusing Bonuses with Cashback. Bonuses are an increase in interest rate, payable at the end of the loan on the amount you have invested when the loan repays. If you sell any parts on the SM before maturity you won't receive any bonus on the parts sold. (There's a good explanation of this somewhere on the FS website.) Cashback is a lump sum paid when the loan draws down, and is paid whether or not you subsequently sell any parts before maturity. The drawback of Cashback is that it wouldn't be paid if the loan is cancelled and fails to draw down. (Though in the past, ISTM that FS usually have tried to do something to soften the blow.)
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Jeepers
Member of DD Central
Posts: 818
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Post by Jeepers on May 4, 2016 14:08:16 GMT
"BONUSES Investments of £25,000 and more 1% i.e. 13% p.a" My maths may be a bit rusty, but doesn't 1% received on a 6 mth loan equate to 2%, and thus 12%+2%=14% etc, etc. And I thought my maths was bad........... I queried this with FS. They confirmed that the 1% pa is actually 0.5% over the 6 month period.
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16:40 BST
