stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447 
Likes: 945
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Post by stub8535 on Jan 18, 2017 20:55:46 GMT
Consistant communications too. Steve has always been like this as long as I have been invested. Personal touch in one to one comms too. Well said dnallov.
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Post by stevefindlay on Jan 19, 2017 18:59:04 GMT
Steve. What pressure can you apply to platforms, through which you have presumably made the investments on our behalf, to resolve issues that breach your concern criteria? We are in regular dialogue with all of our platforms and seek updates on any areas of concern. I guess it is helpful that we can talk on behalf of a material portion of a loan - i.e. 10-50% - which means we normally get a sensible / timely response.
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Post by stevefindlay on Jan 19, 2017 19:00:23 GMT
Can I just say that is is absolutely sodding marvellous to see a platform provide a comprehensive and honest reply to what is a difficult issue for some platforms to discuss (i.e. defaults) No shying away from the question, no silence, no BS post with little information. Hats off to you BondMason / stevefindlay - keep up the good work  Thank you. It is really pleasing to hear good feedback. Much appreciated. We'll try to keep up the hard work at this end.
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treeman
Member of DD Central
Posts: 1,026
Likes: 557
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Post by treeman on Jan 24, 2017 9:53:17 GMT
My portfolio today shows 5 invoice discounting loans as "Default" in Loan Status. I hope that either this is a technical glitch or that the amounts will be recovered. We shall see. Your post made me curious so just had a look - and found one of mine (invoice discounting too) shows as 'Default'. I share your hopes re recovery...... Also, the tooltip appearing when hovering on the blue tick icon in the Loan Status column shows 'Full' on all except about three which say 'Secondary' and one which says 'processing'....... stevefindlay - could you explain what these tooltip terms refer to ? - I'm still curious - would you be able to elaborate on these three tooltip terms ?
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Post by stevefindlay on Jan 24, 2017 21:42:56 GMT
Your post made me curious so just had a look - and found one of mine (invoice discounting too) shows as 'Default'. I share your hopes re recovery...... Also, the tooltip appearing when hovering on the blue tick icon in the Loan Status column shows 'Full' on all except about three which say 'Secondary' and one which says 'processing'....... stevefindlay - could you explain what these tooltip terms refer to ? - I'm still curious - would you be able to elaborate on these three tooltip terms ? I'm very sorry, I seemed to have missed the original post - please excuse slow response. These all mean 'live' or 'active'. We use these other designations internally, but these terms don't really mean much publicly, so we will remove them from the tool tips.
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Post by rookyone on Feb 6, 2017 11:57:51 GMT
Automated monthly interest withdrawal: this is in the pipeline. Steve, any update on the progress of this option going live?
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Post by stevefindlay on Feb 9, 2017 9:57:44 GMT
Automated monthly interest withdrawal: this is in the pipeline. Steve, any update on the progress of this option going live? Shooting for this month (February).
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Post by stevefindlay on Feb 20, 2017 21:26:51 GMT
How many rates do BondMason quote. Just for fun, I thought I'd try to list every different one I could find - but I grew tired so I decided to focus on just two. The front page says: BondMason clients have achieved a net return of 7.93% since April 2015.
And the statistics page says: BondMason's clients have achieved a net return of 7.05% p.a., against a target of 7.0% p.a..
So, even after all this time, I still don't know if I expect to make and keep 7%ish or 8%ish. How does the meaning of "net return" return change from one page to another - it's so dumb. That's completely fair. We should be consistent. We've tried to keep the numbers up to date over time, but I can see the inconsistency and it is confusing and unhelpful. Please expect an update and a single number throughout the site in the next couple of days. And to answer your question: the target is 7%, net of everything (losses, fees, cash drag etc) at the end of the year.
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aem
Posts: 17
Likes: 13
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Post by aem on Feb 21, 2017 9:08:50 GMT
This statement on the web site is also misleading:
After 90 days I am still not fully invested whereas the above statement led me to believe I would be fully invested within a maximum of 28 days which is clearly not true in my case (and has reduced my return for three months so far, not just the first month).
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keystone
Member of DD Central
Posts: 718
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Post by keystone on Feb 21, 2017 11:31:55 GMT
Also after the xmas famine the January loans are maturing now so around 10% is now back in cash, nothing lent out since 6th February. Do BM still have an increase in loans coming that stevefindlay mentioned previously? |
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Post by stevefindlay on Feb 21, 2017 18:01:17 GMT
How many rates do BondMason quote. Just for fun, I thought I'd try to list every different one I could find - but I grew tired so I decided to focus on just two. The front page says: BondMason clients have achieved a net return of 7.93% since April 2015.
And the statistics page says: BondMason's clients have achieved a net return of 7.05% p.a., against a target of 7.0% p.a..
So, even after all this time, I still don't know if I expect to make and keep 7%ish or 8%ish. How does the meaning of "net return" return change from one page to another - it's so dumb. That's completely fair. We should be consistent. We've tried to keep the numbers up to date over time, but I can see the inconsistency and it is confusing and unhelpful. Please expect an update and a single number throughout the site in the next couple of days. And to answer your question: the target is 7%, net of everything (losses, fees, cash drag etc) at the end of the year. PS: The average net-net-net rate achieved by clients since inception is 7.51%. The website has been updated accordingly. The target net-net-net is still 7.0% p.a. The current gross rate for loans available today is 8.59% (as per blue band on home page). This updates dynamically. Hope that clears it up!
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Post by stevefindlay on Feb 21, 2017 20:01:57 GMT
This statement on the web site is also misleading: After 90 days I am still not fully invested whereas the above statement led me to believe I would be fully invested within a maximum of 28 days which is clearly not true in my case (and has reduced my return for three months so far, not just the first month). - have you deposited additional funds during this period? If not, I'd like to take a look at your account and it's settings. 90 days is definitely not normal. Please pm me - I can pick it up from invest@bondmason.com
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Post by stevefindlay on Feb 21, 2017 20:04:49 GMT
Also after the xmas famine the January loans are maturing now so around 10% is now back in cash, nothing lent out since 6th February. Do BM still have an increase in loans coming that stevefindlay mentioned previously? Yes - loan pipeline is looking good. We've also had three all-time record weeks for new clients in 2017. But we've planned better for this type of growth this year, and the investment level is currently at 92%.
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aem
Posts: 17
Likes: 13
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Post by aem on Feb 24, 2017 11:49:16 GMT
This statement on the web site is also misleading: After 90 days I am still not fully invested whereas the above statement led me to believe I would be fully invested within a maximum of 28 days which is clearly not true in my case (and has reduced my return for three months so far, not just the first month). - have you deposited additional funds during this period? If not, I'd like to take a look at your account and it's settings. 90 days is definitely not normal. Please pm me - I can pick it up from invest@bondmason.com The original 10k I invested on 15th Nov 2016 is currently at 93% invested and has never been fully invested. I added a 2nd 10K lump sum in January but withdrew it again as it remained undeployed, but that is a red herring. The original lump sum was not fully invested within the advertised 28 days and even now is not fully invested (2% investment level). I already rasied my concerns with both you and your support line last month and wasn't too impressed with the response to be honest. I can live with not being fully invested if the actual rate of return matches the target. The purpose of this post is simply to point out the inaccuracy on your website as it misleading.
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Post by stevefindlay on Feb 24, 2017 19:34:07 GMT
aem - have you deposited additional funds during this period? If not, I'd like to take a look at your account and it's settings. 90 days is definitely not normal. Please pm me - I can pick it up from invest@bondmason.com The original 10k I invested on 15th Nov 2016 is currently at 93% invested and has never been fully invested. I added a 2nd 10K lump sum in January but withdrew it again as it remained undeployed, but that is a red herring. The original lump sum was not fully invested within the advertised 28 days and even now is not fully invested (2% investment level). I already rasied my concerns with both you and your support line last month and wasn't too impressed with the response to be honest. I can live with not being fully invested if the actual rate of return matches the target. The purpose of this post is simply to point out the inaccuracy on your website as it misleading. I am VERY sorry to hear that you raised your concerns with us and had an unsatisfactory experience. We pride ourselves on being contactable and responsive to clients, and we will aim to ensure that your experience is not repeated. As for the investment rate, we do our best to predict the allocation speed and ensure clients capital is deployed promptly and remains well deployed. However we won't compromise on loan quality to do so. The target of 7-28 days is based on averages for different investment amounts, investment settings, and throughout the year. December was a quiet time for new loans across the P2P market, so you would have been impacted by this. I think it is worth remembering that whilst initial deployment is important (and something we all focus on), P2P Lending is best considered as a longer term investment product (6-12 months+) and the speed of the initial deployment shouldn't outweigh the importance of the overall return and loan quality. Nonetheless, we haven't hit our average allocation period in your case, for that I am personally sorry, and we will continue to work hard on allocations for everyone. As at today we are 91% invested across the platform, with a further 5% committed (awaiting loan completion and draw down), which given we continue to grow at 20-30% per month, is definitely heading in the right direction.
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