SteveT
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Post by SteveT on Feb 22, 2017 22:04:16 GMT
I wasn't invested on that one, but I would be very clear with a FS director. Either you change this basic rule and pay out the 21 days interest or you will soon see my 6 digits investments on sale on the SM market... Don't worry, you should have plenty of takers for them, provided your discounts are big enough...
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SteveT
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Post by SteveT on Feb 23, 2017 8:08:06 GMT
In particular those who steal 3 days out if 186 of investment, which is 3,22% AER. Huh? How do you arrive at that figure? By my reckoning, a loan at 13% returning capital plus 183 days of interest after 186 days equates to an IRR of 13.19%. If it returns 186 days of interest after 186 days, the IRR rises to 13.41%, which is 0.22% better (not 3.22%)
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SteveT
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Post by SteveT on Feb 23, 2017 9:00:11 GMT
Huh? How do you arrive at that figure? By my reckoning, a loan at 13% returning capital plus 183 days of interest after 186 days equates to an IRR of 13.19%. If it returns 186 days of interest after 186 days, the IRR rises to 13.41%, which is 0.22% better (not 3.22%) The 'loss' you are getting is: 3 days out of 186 of investment. This means 3/186, which means 1,612% over 186 days, which reported to a year is an arbitrary removal of 3,165% of the due annual interest. This means the rate that was advertised on the FS financial site for the loan 2700488578 was 13% AER. The rate FS paid for this loan 2700488578 was: 12,588% AER You're forgetting that it's 3/186 of 13% per annum, which is 0.107% in absolute terms or approx 0.22% annualised (not 3.22%). Put another way, £100 at 13% per annum earns 3.56p per day, so 3 days lost interest is 10.7p, which equates to 0.22% difference in annualised return on £100 over 186 days.
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09dolphin
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Post by 09dolphin on Feb 23, 2017 20:48:55 GMT
My problem is that I had an email earlier today saying loan 1254764194 had repaid and investment + interest credited to my account. Still waiting for this to happen. I have emailed FS asking for an explanation. Obviously will not get one today BUT what if I had wanted to reinvest this money today? Doesn't fill me with confidence.
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SteveT
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Post by SteveT on Feb 23, 2017 21:59:50 GMT
My problem is that I had an email earlier today saying loan 1254764194 had repaid and investment + interest credited to my account. Still waiting for this to happen. I have emailed FS asking for an explanation. Obviously will not get one today BUT what if I had wanted to reinvest this money today? Doesn't fill me with confidence.
Strange. I've definitely received my capital and interest back on that one (Dev. Site, Liverpool)
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