SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
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Post by SteveT on May 5, 2016 7:12:50 GMT
[Mod hat off]
Welcome and well done for getting started. Registration process was simple and a quick look around the platform suggests you've learned from many things that have tripped up others.
One of the biggest concerns when investing with any new start-up has to be risk of the platform itself failing to generate enough income to cover operating costs and ultimately ceasing trading. Can you give us any insight into the investors / resources standing behind the company and what plans (if any) you have already put in place for a 3rd party to manage lenders' interests in "run-off mode" if Collateral were to cease trading?
[An observation if I may: your website's "About" section is full of aspiration but a little short of hard information]
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,850
Likes: 11,078
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Post by ilmoro on May 5, 2016 8:11:18 GMT
Well my quid has been credited before 7 so sent some more to test speed in normal hours. MT you have competion as took about 5mins.
Emails went to spam initially but fine now.
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tomtom
Member of DD Central
Posts: 262
Likes: 39
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Post by tomtom on May 5, 2016 8:26:44 GMT
Have now done two trial deposits with no problem, have invested(small ammounts) in two loans, and am now waiting to see how long it takes to transfer funds back to my account. It will be interesting to see how many other people start using this site.
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treeman
Member of DD Central
Posts: 1,026
Likes: 557
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Post by treeman on May 5, 2016 8:32:42 GMT
Had a look/read last night - looks interesting.
Signed up, Sent a small FP transfer (credited in 4 mins), made a few tiddly test investments - a pleasant experience so far.
Will look at downloads etc and possible suggestions later.
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Post by earthbound on May 5, 2016 8:35:03 GMT
Yep.. registered and sent over an fps payment at 9am this morn, not in yet but ill keep watching.
(edit) 10.30am not there yet (sent from santander)
(edit) deposit in at 10.38, all good so far.
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on May 5, 2016 8:50:50 GMT
Had a snoop. Registering easy, but noticed that if you are 85+ you can't put date of birth in . Cor! I do like that Michelle Keegan ... and no, I'm not 85+. Placing a deposit by debit card failed. TWICE.
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Post by earthbound on May 5, 2016 8:56:25 GMT
Had a snoop. Registering easy, but noticed that if you are 85+ you can't put date of birth in . Cor! I do like that Michelle Keegan ... and no, I'm not 85+. Placing a deposit by debit card failed. TWICE. I do remember reading somewhere over the last couple of days that you said you were 'skint'
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tomtom
Member of DD Central
Posts: 262
Likes: 39
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Post by tomtom on May 5, 2016 9:22:06 GMT
Had a look/read last night - looks interesting. Signed up, Sent a small FP transfer (credited in 4 mins), made a few tiddly test investments - a pleasant experience so far. Will look at downloads etc and possible suggestions later. transfer back to my bank account compleated within 30 min. so looks very good
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Post by earthbound on May 5, 2016 9:35:21 GMT
Just tried card payment as well, not working.
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pom
Member of DD Central
Posts: 1,922
Likes: 1,244
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Post by pom on May 5, 2016 9:44:10 GMT
I think the most positive thing I can really say at the moment is that I'll keep an open mind (but my gut isn't keen right now, tho can't really put my finger on why) and that the website seems to work (tho I gave up on card payments). Things that would make me feel more positive: We need to know a lot more about the people behind this - as SteveT has already noted the "About" section is rather vague - and engagement here on the forums (am I the only one who finds the whole "you don't know us but we've been watching you for a year" -implying they therefore know what we want- a little creepy?!) I'm sure there were lots of (commercial) reasons they weren't able to engage before, but one way or another we need to know more about them. More/better loans. Yep the ones up there are certainly "interesting" but I can't help wondering if these are the ones no-one else will touch. The film seems incredibly risky - it's either a genius idea for a new asset class or....! Whatever the film distributors may be saying, I can't see it being a hit in the multiplexes - seems like something I might eventually watch on DVD...and if it's that good how come it's not backed to the hilt by UK film council, film 4, the Irish & Manx companies etc etc. It needs a lot more explaining anyway. Jewellry that may be valuable if the right buyer is found but doesn't look very desirable. Overseas holiday homes - just can't imagine how difficult they might be to sort out in a default. Paintings - meh! And some more traditional bridging loans that look OK but then start wondering if they're running before they can walk, as they'll need quite an investor base to fill. Or maybe I just got out of the wrong side of bed this morning Oh yeah... the site is logging me out FAR too often such that my "memorable" word is really starting to piss me off - and so much so that it appears a whole bunch of investments I thought I made actually didn't go thru Well I've dipped a very small toenail and will wait and see
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on May 5, 2016 9:52:18 GMT
Interesting that after registering for my snoop, no "welcome" or other such promotional emails have been sent to me. I've checked my junk folder, and I don't think the viagra one is from Collateral. I think I'll just sit back, munch and see what happens.
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Post by collateral on May 5, 2016 10:02:57 GMT
Nice clean and simple site. One critism on the opening page. The second sentence is "Your capital will grow with a fixed 1% monthly return." This would imply you have found a holy grail amongst tax advisers, turned income (i.e. interest) into capital gain with the obvious tax advantages that comes with that. Perhaps you should consider rewording to make it clear that the return is actually interest. Hi, Thanks for pointing this out, we have now changed capital to investments. Gordon
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Post by collateral on May 5, 2016 10:05:15 GMT
[Mod hat off] Welcome and well done for getting started. Registration process was simple and a quick look around the platform suggests you've learned from many things that have tripped up others. One of the biggest concerns when investing with any new start-up has to be risk of the platform itself failing to generate enough income to cover operating costs and ultimately ceasing trading. Can you give us any insight into the investors / resources standing behind the company and what plans (if any) you have already put in place for a 3rd party to manage lenders' interests in "run-off mode" if Collateral were to cease trading? [An observation if I may: your website's "About" section is full of aspiration but a little short of hard information] Hi, Yes, we intend to add content to the about us page ASAP. Thanks for your comments, Gordon
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Maestro
Member of DD Central
Posts: 87
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Post by Maestro on May 5, 2016 10:10:13 GMT
Was stuck on second registration page for many minutes showing "processing" before it timed out.
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Post by collateral on May 5, 2016 10:13:01 GMT
Just tried card payment as well, not working. Hi, The initial post to introduce ourselves has been very constructive. A few suggestions, copy errors and payment bugs have all been noted and will be rectified ASAP. As for the card payment facility, we have been in contact with the provider and they are working on resolving the issue, so will post here when it's working again. Many thanks for all the comments, Gordon
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