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Post by Duane Dibley on Apr 16, 2014 13:25:31 GMT
Now that's how cashback should be done. Are you watching FC and AC?
Not just new funds but rewarding existing lenders.
Well done Saving Stream.
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oldgrumpy
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Post by oldgrumpy on Apr 16, 2014 13:45:40 GMT
Well it has worked for me! I've doubled my (small) part of each loan - and will get cash back on the cash I put on them a few days ago. On the AC offer I had already put money on the live auctions on 30 March, so won't get cash back (on the same loan) which I would have got if I had waited until April 1 (or 2).
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smee
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Post by smee on Apr 16, 2014 14:46:40 GMT
And if I could add my two penn'orth, I agree with these sentiments. As someone who put money into SS and AC for the first time in April, only SS is rewarding me with cashback so I will probably add more. I can see why AC restricted cashback to existing investors but I can't see the rationale behind the April 1st deadline. SS much fairer and more sensible.
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spockie
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Post by spockie on Apr 16, 2014 14:51:43 GMT
And if I could add my two penn'orth, I agree with these sentiments. As someone who put money into SS and AC for the first time in April, only SS is rewarding me with cashback so I will probably add more. I can see why AC restricted cashback to existing investors but I can't see the rationale behind the April 1st deadline. SS much fairer and more sensible. To be fair to AC, they had just run a cashback deal for new investors in March.
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smee
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Post by smee on Apr 16, 2014 15:04:06 GMT
And if I could add my two penn'orth, I agree with these sentiments. As someone who put money into SS and AC for the first time in April, only SS is rewarding me with cashback so I will probably add more. I can see why AC restricted cashback to existing investors but I can't see the rationale behind the April 1st deadline. SS much fairer and more sensible. To be fair to AC, they had just run a cashback deal for new investors in March. I don't know the detail of what this offer entailed. If the March investors qualified for cashback as new investors, then they can presumably qualify again now. I miss out entirely on AC so I can't help but prefer SS non discriminatory offer.
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j
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Post by j on Apr 16, 2014 16:42:03 GMT
Might even be tempted to switch some funds from AC to SS. Words I never thought I'd utter!
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mikes1531
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Post by mikes1531 on Apr 16, 2014 19:37:09 GMT
To be fair to AC, they had just run a cashback deal for new investors in March. I don't know the detail of what this offer entailed. If the March investors qualified for cashback as new investors, then they can presumably qualify again now. I miss out entirely on AC so I can't help but prefer SS non discriminatory offer. From the announcement of AC's current cashback offer... ... so any lenders recruited in March by the offer aimed at new lenders don't qualify for the current offer which is amied at longer-standing lenders.
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smee
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Post by smee on Apr 17, 2014 1:59:37 GMT
... so any lenders recruited in March by the offer aimed at new lenders don't qualify for the current offer which is amied at longer-standing lenders. Thanks for this info. It explains why they set a deadline for existing investors (I'd thought it was April 1st not March 1st - just knew I'd missed out). It's just irritating that in trying to prevent someone from benefitting twice, people like me miss out on both counts, particularly since I invested a significant amount at the beginning of April, before they announced the new cashback offer. It highlights how incentives can sometimes turn out to be counter productive. SS's scheme is much fairer and alienates nobody. I have already transferred funds which I had earmarked for AC.
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Cashback
Apr 17, 2014 3:40:18 GMT
via mobile
Post by savingstream on Apr 17, 2014 3:40:18 GMT
To clarify, the 0.5% cashback incentive will be paid to all existing investors in the property loans from when they were added to the platform. In addition it will be paid on all new investments in the property loans up until the end of April 2014.
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j
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Post by j on Apr 17, 2014 8:25:20 GMT
To clarify, the 0.5% cashback incentive will be paid to all existing investors in the property loans from when they were added to the platform. In addition it will be paid on all new investments in the property loans up until the end of April 2014. And just to reconfirm, interest is paid from day funds are committed,not from draw down date?
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Cashback
Apr 17, 2014 9:36:33 GMT
j likes this
Post by ramblin rose on Apr 17, 2014 9:36:33 GMT
To clarify, the 0.5% cashback incentive will be paid to all existing investors in the property loans from when they were added to the platform. In addition it will be paid on all new investments in the property loans up until the end of April 2014. And just to reconfirm, interest is paid from day funds are committed,not from draw down date? That's certainly the way the interest is showing as 'accrued' in my account. We aren't normally aware of draw down date on SS in any case; we have assumed that the smaller boat loans are already drawn before they appear on the site, and that is probably the case, but as SS have always undertaken to pay interest from the date of investment the actual date of draw down has been immaterial. With the property bridges we know they haven't been / weren't so there is the potential for difference.
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j
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Penguins are very misunderstood!
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Post by j on Apr 17, 2014 10:34:20 GMT
And just to reconfirm, interest is paid from day funds are committed,not from draw down date? That's certainly the way the interest is showing as 'accrued' in my account. We aren't normally aware of draw down date on SS in any case; we have assumed that the smaller boat loans are already drawn before they appear on the site, and that is probably the case, but as SS have always undertaken to pay interest from the date of investment the actual date of draw down has been immaterial. With the property bridges we know they haven't been / weren't so there is the potential for difference. Thanks for the confirmation rr
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Post by savingstream on Apr 17, 2014 11:21:25 GMT
Interest is paid from day funds are committed,not from draw down date.
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j
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Penguins are very misunderstood!
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Post by j on Apr 17, 2014 11:34:21 GMT
Interest is paid from day funds are committed,not from draw down date. Thanks
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mikes1531
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Post by mikes1531 on Apr 18, 2014 2:11:47 GMT
I note that the loan detail page for the second property bridging loan still says "The loan is not written yet..." I thought I read, or was told, a few days ago that the loan was live. Am I mis-remembering? Or is the Loan Detail page out of date?
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