ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,876
Likes: 11,099
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Post by ilmoro on Apr 24, 2024 20:41:33 GMT
I'm vaguely cross with myself for stopping investing with Crowdstacker at the point they went into real estate. 15% was an alarm bell interest rate after Lendy etc and I took my bargepole away. But it seems like they have chosen these loans carefully over the last years. Anyone know what their track record is since the change? I'm in most of the PDLs. I've had 13 repay so far. All of those have paid at least what was promised. Many have repaid late (very normal for PDLs), but some of those have paid even higher interest during the extension period. I'm satisfied with the performance and will be adding ISA funds this year to take advantage of the new ISA freedoms. My main annoyances are: ISA isn't flexible, it can take a week for withdrawn funds to hit my bank account, cash drag is often an issue before the loan starts, I've had quite a few that didn't go ahead, so no interest for the period that funds were tied up for. Are you using the pledge system to reduce cash drag? I havent entirely managed to make sense of how it works ... specifically whether it actually guarantees you a bit of the loan. I had a pledge on YV, was never asked to send the cash and now it suggests its filled, though I can still make a pledge. Cant tell if the loan has actually started so Ive missed out or if they are still doing legals and they will be requesting cash when its about to drawdown.
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Post by Ace on Apr 24, 2024 21:06:11 GMT
I'm in most of the PDLs. I've had 13 repay so far. All of those have paid at least what was promised. Many have repaid late (very normal for PDLs), but some of those have paid even higher interest during the extension period. I'm satisfied with the performance and will be adding ISA funds this year to take advantage of the new ISA freedoms. My main annoyances are: ISA isn't flexible, it can take a week for withdrawn funds to hit my bank account, cash drag is often an issue before the loan starts, I've had quite a few that didn't go ahead, so no interest for the period that funds were tied up for. Are you using the pledge system to reduce cash drag? I havent entirely managed to make sense of how it works ... specifically whether it actually guarantees you a bit of the loan. I had a pledge on YV, was never asked to send the cash and now it suggests its filled, though I can still make a pledge. Cant tell if the loan has actually started so Ive missed out or if they are still doing legals and they will be requesting cash when its about to drawdown. To be honest I'd forgotten about the pledge thing. I did have a look when it was announced. It felt like an unnecessary bolt-on. Why not just allow pledges as normal without having to have funds in account? Also wasn't clear if the pledge was for Standard or ISA accounts. It doesn't really help for ISA funds since the isa isn't flexible, and I hope to be mainly ISA from now on. . It's clearly not kept up to date, since LV is still selectable, but it's already filled. Hopefully you'll be asked for the LV funds soon as its supposed to start on 28th.
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