|
|
Post by charles on Mar 2, 2017 13:24:21 GMT
Dear pom and justsaying, Glad to know that both your issues have now been resolved. We investigated the issue on our end as well and, while we found no errors, made certain tweaks to help ensure this doesn't happen again. While the amounts involved were relatively small, I want you to know that we take any and all glitches very seriously, whether it's 66p or 66k. Thank you again for raising this matter to our attention, and please don't hesitate to do so again in the future should any issues arise. P.S. on lighter note, since you ladies now have more than a pound between you, you might want to consider purchasing this man's fish. www.youtube.com/watch?v=ETSl8gWsFZ0  Regards, Charles |
|
|
|
Post by lendinglawyer on Mar 3, 2017 9:27:11 GMT
Funded my investment this morning. Impressed with the platform and service so far!
|
|
|
|
Post by charles on Mar 3, 2017 12:00:59 GMT
Funded my investment this morning. Impressed with the platform and service so far! Thank you lendinglawyer, You'll be glad to know that your money is going to be put to work and start accruing interest even sooner than expected (see post below). As always, I'm here if you ever have any issues you need clarified/resolved, or alternatively, you can drop us a line on 020 7183 6909 or info@propertycrowd.comRegards, Charles
|
|
|
|
Post by charles on Mar 3, 2017 12:05:55 GMT
Dear fellow investors of P2P Forum, We completed the first close of the Liverpool Bond issue on Wednesday (1st March) with subscriptions of over £550k vs. a total raise of £844k. The second close was originally scheduled for three weeks later, however, due to the strong demand we’ve since observed, there is now just £200k of allocation remaining, and we have therefore brought the final close forward to next Wednesday, the 8th of March (coincidentally, International Women’s Day). So if anyone would like to subscribe for this issue, you will need to ensure that cleared funds are received by our Custodian no later than 4pm on 8th March 2017. As always, please consider your investment carefully, but act quickly. Happy investing! Kind regards, Charles |
|
|
|
Post by lendinglawyer on Mar 3, 2017 17:42:40 GMT
One minor suggestion if I may: I funded my investment this morning but apparently it takes 24 hours to appear on the dashboard. I appreciate this is not urgent (from an accrual perspective) given the next closing is not until 8th March, but it would be nice if it could be done quicker so that money didn't disappear into a "black hole" for 24 hours... Something to investigate with your accounts/IT (wherever the hold up is) I suspect. Thanks!
|
|
|
|
Post by charles on Mar 4, 2017 8:12:22 GMT
One minor suggestion if I may: I funded my investment this morning but apparently it takes 24 hours to appear on the dashboard. I appreciate this is not urgent (from an accrual perspective) given the next closing is not until 8th March, but it would be nice if it could be done quicker so that money didn't disappear into a "black hole" for 24 hours... Something to investigate with your accounts/IT (wherever the hold up is) I suspect. Thanks! Hi lendinglawyer, Thank you for your suggestion. That is something we are already working on and hope to improve shortly with a small tweak to our operational processes. But there's always going to be a limit to how fast we can get it. I should explain: the reason for the delay is due to the institutional safeguards (e.g. an independent custodian & segregated accounts) that we've implemented to protect investors. If we didn't have this setup, and had investors wire money directly into a corporate omnibus account instead, we would be able to access account information at will and update balances very quickly, but if the worst were to happen, client funds would then be at risk. Kind Regards, Charles
|
|
|
|
Post by lendinglawyer on Mar 4, 2017 9:50:07 GMT
charlesI absolutely agree the balance needs to be struck! Incidentally my money has now arrived, on a Saturday morning, so I can't complain too much. One thing that's not clear to me is whether, already having entered an investment amount and funded the platform when prompted, I now need to go back into the deal room and apply that cash to invest or it will be automatically done on the closing date given the pre-funding steps I took? Thanks.
|
|
|
|
Post by charles on Mar 4, 2017 10:16:29 GMT
charlesI absolutely agree the balance needs to be struck! Incidentally my money has now arrived, on a Saturday morning, so I can't complain too much. One thing that's not clear to me is whether, already having entered an investment amount and funded the platform when prompted, I now need to go back into the deal room and apply that cash to invest or it will be automatically done on the closing date given the pre-funding steps I took? Thanks. Hi lendinglawyer, You don't need to do anything further, you'll see you have a pending transaction in your deal room, and you'll see your cash balance automatically switch to bonds on the dashboard once this deal is closed. Kind regards, Charles
|
|
gustapher
Member of DD Central
Posts: 144 
Likes: 267
|
Post by gustapher on Mar 4, 2017 10:34:58 GMT
I think one of the issues isn't the time it takes to update the dashboard per se, but is more around the way the website/process works from a user perspective.
When you decide to invest and input the amount, it takes you to a page showing the custodian's bank details for the transfer. You then make the transfer and nothing really happens until the site is updated which feels like a long wait given the minimum investment size. You sit there thinking... my bank balance is 5k lower, but did anything actually happen?
An automated email or something on the dashboard saying the bonds are yours as long as money is received within the next 24hrs etc. would go a long way to removing jitters the first time people use the service.
|
|
phil
Posts: 190
Likes: 165
|
Post by phil on Mar 4, 2017 12:44:59 GMT
charles - on the Bond Term Sheet maturity is stated as 8th Jan 2018 yet the term is 7 months?
|
|
|
|
Post by lendinglawyer on Mar 4, 2017 13:01:46 GMT
charles thank you so I do! Silly me.
|
|
|
|
Post by charles on Mar 4, 2017 14:31:23 GMT
Just made my initial deposit. Looking forward to seeing it being credited on Monday. ...another SS loan bites the dust. Hi hoy, thank you for your support and investment. As always, do feel free to reach out to me via PM, send us an email at info@propertycrowd.com, or drop us a line on 020 7183 6909 if you ever have any queries. A warm welcome to Property Crowd and hope you're having a good weekend! Regards, Charles
|
|
|
|
Post by charles on Mar 4, 2017 15:16:47 GMT
charles - on the Bond Term Sheet maturity is stated as 8th Jan 2018 yet the term is 7 months? Hi phil, as per the FAQs which you no doubt have access to:
The Bonds offered on Property Crowd are structured with due consideration to flexibility and, to the greatest extent possible, uniformity. For this reason, bonds will typically be issued with a term to maturity beyond that of the underlying loan. However, in all cases, when the underlying loan is repaid in full, the associated bond shall be redeemed under a pre-defined early redemption mechanism.
In the case of this Liverpool bond, you'll see under the "Investment Particulars" section of the deal room that: the repayment date of the loan is 27 September 2017.Using our first deal as an example, this early redemption mechanism was triggered, and in that particular case, resulted in an exceptional IRR of 27.4% over the holding period (versus the 11.2% offered). See this thread for more details p2pindependentforum.com/post/171513/threadRegards, Charles
|
|
mrflush
Member of DD Central
This is not me
Posts: 98
Likes: 40
|
Post by mrflush on Mar 5, 2017 11:14:56 GMT
Signed up without a hitch last week and first investment courtesy of SS sent today. charles, is it possible to top up an investment, or does one have to go for another 60 bonds? |
|
|
|
Post by charles on Mar 5, 2017 11:51:51 GMT
Signed up without a hitch last week and first investment courtesy of SS sent today. charles , is it possible to top up an investment, or does one have to go for another 60 bonds? Hi mrflush , I would love it if you signed up for another 60 bonds! But seeing as we haven't closed the deal yet, you should absolutely be able to top up your investment. Would you kindly send an email to info@propertycrowd.com confirming your personal details, the number of bonds you originally subscribed for, and what figure you would like to amend that to. Please Note: we deal in minimum lot sizes of 10 bonds.We will then confirm your new allocation and the additional funds you need to send before the close on 8th March. Thank you again for your support and investment. If you require anything else, please feel free to call us on 020 7183 6909. Regards, Charles
|
|
