am
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Post by am on Sept 9, 2016 16:36:27 GMT
Has anyone found the "master terms" mentioned in the terms for the early bird offers?
I find the wording of the early bird offers ambiguous. Do you have to put in £5,000 at the offset (and possibly, based on the mention of a Trust Account, no ever lend it out), or can you build up to £5,000 over time, whereupon the clock starts?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 9, 2016 17:35:05 GMT
Has anyone found the "master terms" mentioned in the terms for the early bird offers? I find the wording of the early bird offers ambiguous. Do you have to put in £5,000 at the offset (and possibly, based on the mention of a Trust Account, no ever lend it out), or can you build up to £5,000 over time, whereupon the clock starts? No You dont have to invest (last bullet point under offers) Ive emailed them with a couple of queries and alerted them to this thread. Still debating on the offers as quite a lot of it seems a bit vague - fees, min invest in loans, how likely is £100 to be achieved?
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Liz
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Post by Liz on Sept 10, 2016 13:07:37 GMT
Hi, silver daredevil here. I was number 81 (not sure if that's of 100 or the total 150) but I replied to the offer just half an hour after the email arrived so possibly no longer available. Launch later this month. Looks like an AC competitor but stealing a march on them by offering Invoices as well. Hope they fail.  #80  PS I queried and it's out of 150 I''m #95 and entitled to the Gold bonus.
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Post by Financial Thing on Sept 10, 2016 15:01:13 GMT
Very savvy marketeers, creating a scarcity campaign. I'm in. |
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lobster
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Post by lobster on Sept 11, 2016 10:57:36 GMT
Has anyone found the "master terms" mentioned in the terms for the early bird offers? I find the wording of the early bird offers ambiguous. Do you have to put in £5,000 at the offset (and possibly, based on the mention of a Trust Account, no ever lend it out), or can you build up to £5,000 over time, whereupon the clock starts? No You dont have to invest (last bullet point under offers) Ive emailed them with a couple of queries and alerted them to this thread. Still debating on the offers as quite a lot of it seems a bit vague - fees, min invest in loans, how likely is £100 to be achieved? Too much ambiguity in the early bird offers imo. For instance , to qualify for the Silver award it says in the email that the £5,000 can be held as cash, but then in the Offer Terms in says : ------------------------------------------------------------------------- To become a Founder Investor for the Silver Offer and entitled to receive the applicable Reward, an Investor must meet the following conditions:
For the Qualifying Period the Investor must maintain a combined total of not less than £5,000 held or utilised in either:
1. The Trust Account;
2. Committed Loan Offers made on the Peer Funding Platform; or
3. Active Loan Transactions made on the Peer Funding Platform.
-----------------------------------------------------------------------------
TBH , I don't even know what the "Trust Account" is  ?? I can't see a definition or explanation anywhere ?? Does anyone know ?
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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
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Post by ilmoro on Sept 11, 2016 11:56:50 GMT
I think the definition can only really be applied to the holding account for uninvested sums but drop them an email. They are very responsive and give comprehensive answers to queries (There is an associated trustee company at CH)
On which - Master T&Cs & Privacy policy will be available to investors on sign up once site launches in next few weeks.
They dont expect investors to have full £5/10k invested immediately, expectation is 3 months and believe they have a solid deal flow for this to be achieved.
No access fees and no investor fees (reserve right to change this with notice) but no fees during term of offer so as not to dilute bonus.
Someone should probably ask them if they are looking to get ISA manager authorisation, I keep forgetting.
Company has existed since late 2014, and has just filled its second set of accounts. I note the MD is sole director of an Invoice Finance company.
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Post by crabbyoldgit on Sept 11, 2016 17:37:56 GMT
Dam it more new peer to peer companies turning up than new borrowers at this rate , I fear the market must at some time weed out new entrance firms who do not gain traction fast. Then we will see if those regulator requirements to enable an orderly wind down are worth the paper they are written on.
As crabby old git i will be amazed if they are not some issues with attached , told you so from the banks.
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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
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Post by ilmoro on Sept 11, 2016 18:42:30 GMT
Someone should probably ask them if they are looking to get ISA manager authorisation, I keep forgetting. Suspiciously the final sentence on my confirmation says 'As we are fully authorised we are able to apply to HMRC as an ISA Manager and plan to offer this facility in the coming months.' I think they are watching!  Thats my secret identity blown! 
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pom
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Post by pom on Sept 23, 2016 9:31:44 GMT
Hmm given they were going to contact us again a week before launch I have to wonder if they're still going to launch "later this month"....tho technically they still have over 12hrs left to meet both promises (have emailed requesting an update) |
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Post by jonboy73 on Sept 23, 2016 10:47:58 GMT
I got number 126 through by email after registering 15 minutes ago.
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SteveT
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Post by SteveT on Sept 23, 2016 10:52:07 GMT
Hmm given they were going to contact us again a week before launch I have to wonder if they're still going to launch "later this month"....tho technically they still have over 12hrs left to meet both promises (have emailed requesting an update) A new P2P platform that's optimistic with their timeline forecasts? They'll fit right in!
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pom
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Post by pom on Sept 23, 2016 11:10:19 GMT
Email due out later today apparently with some more info on the investment opportunities. Also "We're expecting to be able to loan investor money within the next week and load the very first deals very shortly afterwards." Which sounds to me like they may be a tad behind depending on how they're defining "launch" but yeah as SteveT says, what else is new?  |
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Post by yorkshireman on Sept 23, 2016 12:19:04 GMT
A new platform appears on the scene almost every week, OK so that’s an over exaggeration but doesn’t this all create the impression of an ever inflating bubble?  |
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adrianc
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Post by adrianc on Sept 23, 2016 12:32:52 GMT
A new platform appears on the scene almost every week, OK so that’s an over exaggeration but doesn’t this all create the impression of an ever inflating bubble? Bandwagon, I think - but, yes. Half the platforms already extant don't have critical mass.
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pom
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Post by pom on Sept 23, 2016 13:39:32 GMT
This one's interesting as they already have full permissions...so could well have ISAs available before any of our other favourites..
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?? I can't see a definition or explanation anywhere ?? Does anyone know ? 
