Greenwood2
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Post by Greenwood2 on Jul 13, 2016 19:28:42 GMT
Much better flow of loans now.
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fp
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Post by fp on Jul 13, 2016 20:05:46 GMT
Out of curiosity stevefindlay , in the settings where you set level of investment as a part of your overall investment, it gives you an option of 1%, 2% or "none" , what would it give you if you clicked "none" ? Does it remove restriction on the level your account can invest, or does it enable you to stop investing for what ever reason until you tell it otherwise? I'm assuming its the latter, but wanted to confirm.
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Post by henders on Jul 14, 2016 5:18:02 GMT
So, my first deposit arrived in BM yesterday,
By close of play I had 10 loans out (£20 each), at an average interest of 7.17%.
A good start I would say.
Next steps may be to start withdrawing from RS (5 year market average 5.9%) and drip feed into here.
I have been considering running RS down as I will need the money eventually, do not want to "sell-out" (too expensive) and need a "relatively" safe and fairly liquid home for it.
This may be the one.
I'm thinking the biggest challenge to BM will probably be satisfying demand.
For the record I am retaining my ZOPA loans ( albeit 5% but I feel it to be relatively safe).
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Post by stevefindlay on Jul 14, 2016 11:15:22 GMT
Out of curiosity stevefindlay , in the settings where you set level of investment as a part of your overall investment, it gives you an option of 1%, 2% or "none" , what would it give you if you clicked "none" ? Does it remove restriction on the level your account can invest, or does it enable you to stop investing for what ever reason until you tell it otherwise? I'm assuming its the latter, but wanted to confirm. fp There shouldn't be an option for "none"! We've double checked this morning, and couldn't see it. Please let me know if this continues, and we'll investigate based on your browser / device settings etc. We are investigating (i) allowing clients to set 0.5% as their limit (more to follow on this later) and (ii) possibly setting an absolute maximum - i.e. £250. Both of which were suggestions received from clients. Many thanks
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Greenwood2
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Post by Greenwood2 on Jul 14, 2016 11:43:54 GMT
I see -None- too, as the first option, using Chrome, ie,
-None- 2% 1%
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fp
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Post by fp on Jul 14, 2016 12:09:23 GMT
SEE SCREEN SHOT Attachments:
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ben
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Post by ben on Jul 14, 2016 12:18:50 GMT
I have same and I use firefox
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fp
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Post by fp on Jul 14, 2016 12:42:27 GMT
I use Safari.
I get this when I follow:
My summary > Your settings > Investment settings.
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Post by stevefindlay on Jul 14, 2016 12:44:54 GMT
fp ben Greenwood2 That's really helpful. Thank you! To follow up - I assumed you meant on step 2 of the sign-up process; but this is in the "Edit your settings" area (once you've logged in and wired funds etc). That option shouldn't be there - so we will fix immediately. (There's no risk from this though; as if someone selects "none" it would appear on our overall admin dashboard as an outlier) Thanks again!
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Post by Financial Thing on Jul 14, 2016 14:21:24 GMT
I am more than a little concerned to read this. Could you please explain what types of non p2p products you are placing BM's clients into? Are you lending our money to cousin Alfie down the pub (hopefully not)? I can appreciate you taking measures to meet BM's demand but this decision veers away from why I invest in a p2p platform. It makes me uneasy to hear as a p2p company, you are drifting away from your investment business model and I think it's reasonable for lenders to know where you are allocating their funds. Financial Thing To respond: (and please see my comments to Jonah above) "Could you please explain what types of non p2p products you are placing BM's clients into?" Asset-backed and property-backed loans in the first two instances. "Are you lending our money to cousin Alfie down the pub (hopefully not)?" No - and I'm actually a little offended by that comment (I'll assume it was intended as a joke). But to keep the tone light - Alfie down the pub wouldn't pass our due diligence process. Both of our non-P2P Platforms are experienced lenders / investors - specifically, one is regulated for, inter alia, "Entering into regulated credit agreement as Lender" and "Exercising/having right to exercise lender's rights and duties under a regulated credit agreement" (i.e. the traditional forms of lending permissions, before P2P came about). The other company acts very much as a Principle in its loans - i.e. the Directors personally invest a significant amount into every loan, and keep hold of that position until full repayment (we really like strong alignment). If it helps: we wouldn't approve Equity Crowdfunding platforms that do Bonds. Or mini-bonds. Etc. Equity risk at debt returns. Not good. You can't turn bad credit into good credit by charging higher interest rates. Our approach is conservative, which is why 7.0% is the target; not 10%+. Many clients use BondMason as part of a cash-management strategy / pension strategy / savings strategy. We are conscious of this in our investment approach. "I can appreciate you taking measures to meet BM's demand but this decision veers away from why I invest in a p2p platform" Its always been our strategy to work with any lender which can demonstrate good risk-adjusted loan opportunities, understands credit, and has a focus for smaller loan sizes (sub £5m). We are not concentrated on P2P Platforms only. We are very pleased to be the first / only platform doing this. "you are drifting away from your investment business model" I'd politely disagree. Please see above. "I think it's reasonable for lenders to know where you are allocating their funds" We do this. Steve, thanks first your comments. I'm a little tired of p2p companies lack of transparency and the "oh we'll just do this and that without clearly letting our customers know or clearly writing about it on our website" so excuse me if I'm a little salty. The pub comment was obv. a joke. You shouldn't take offense as this is just business, nothing personal. People are giving you their hard earned money; you are a stranger to me and if things were reversed, you would be asking questions about things that concern you.
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Greenwood2
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Post by Greenwood2 on Jul 14, 2016 16:18:59 GMT
I would contact Steve Findlay, I think there must be something wrong if you're not getting matched and others are.
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Post by stevefindlay on Jul 14, 2016 19:17:58 GMT
Greenwood2 Very good suggestion, and that goes without saying, if you have questions, please feel free to contact me directly: stephen.findlay@bondmason.com , or post them on this forum. Obviously, I will generally be a little faster to reply by email. It's a shame we don't have a dedicated discussion board here; as we could separate out some of these topics, including how to contact us etc. Many thanks again
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jonah
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Post by jonah on Jul 14, 2016 19:50:35 GMT
Greenwood2 Very good suggestion, and that goes without saying, if you have questions, please feel free to contact me directly: stephen.findlay@bondmason.com , or post them on this forum. Obviously, I will generally be a little faster to reply by email. It's a shame we don't have a dedicated discussion board here; as we could separate out some of these topics, including how to contact us etc. Many thanks again It would be a mixed blessing as it gets you off the front page... But I suspect it will be coming at some point as you seem to have captured some interest. Not that it's up to me of course!
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Post by stevefindlay on Jul 15, 2016 11:28:52 GMT
... It's a shame we don't have a dedicated discussion board here; as we could separate out some of these topics, including how to contact us etc.... MOD Comment: A dedicated board is coming soon... paul123 Ok- thank you. Also, please can I thank you (and the other moderators) for setting up this forum. I think it is a great opportunity for people to share their concerns, questions and comments publicly - thank you. Hopefully many platforms, like ourselves, will create better products and services as a result, which in turn will benefit our clients and investors. We would be interested to hear suggestions from this community for the pinned sub-threads for BondMason. As a starter for ten: - Investment Performance (hitting 7.0%+) - Initial Investment Allocation (getting filled in 28 days or less) - The problem with BondMason is... (suggestions for improvements) - Emergency problems - FAQs and Contact Us
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shuff27
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Post by shuff27 on Jul 15, 2016 12:02:49 GMT
Suggested improvement from a new investor: as the loan parts are small (I believe such diversification is attractive to many investors) it looks like it may take some time to become fully invested. To save frequent checking of the account it would be helpful to receive a confirmation email from BM once full investment is achieved, prompting a further funds transfer if so desired.
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