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Post by charles on Jun 16, 2017 23:29:47 GMT
Hi charles Am I right in thinking that unlike your bond prior to this that there is no enhancement to the return by invoking an early repayment clause of minimum interest etc? Hi @leopardcat , Yes, as per the relevant term sheet, this bond was redeemed after the minimum accrual period, and thus bondholders received a pro-rated interest payment consistent with the original IRR. Nonetheless, getting your money back early speaks to the quality of the principal lenders we work with (and the loans they originate), and is surely preferred to the alternative (e.g. delays or default)? Regards, Charles
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Post by charles on Jun 16, 2017 23:52:32 GMT
Hear hear lendinglawyer I requested a withdrawal on Wednesday, no reason why it should not be in my account by now given this is the 21st Century! A couple of opportunities elsewhere that I'm keen to get the cash into. Same for me charles . Please. Dear lendinglawyer, @leopardcat, pom, justsaying, I apologise for the inconvenience, but please understand that due to our institutional setup (i.e. we use an independent custodian that handles client money and securities), withdrawals will necessarily take longer than if we operated a model where everything was in an omnibus account accessible directly by us. We use this degree of separation to help make your investments even more secure, but it does admittedly add to processing times. Withdrawals, as the site states, are typically processed within 5 business days, so kindly factor that in when making plans for cash flow and liquidity management. Wishing everyone a good weekend ahead. Regards, Charles
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justsaying
Member of DD Central
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Post by justsaying on Jun 19, 2017 15:56:05 GMT
Fair point charles it is what it is. My withdrawal landed in my account this afternoon so 3 working days after the request  |
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Steerpike
Member of DD Central
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Post by Steerpike on Jun 19, 2017 16:03:25 GMT
Same here, my withdrawal request was on 14th and funds arrived in my bank this afternoon 19th, 5 days elapsed, 3 working days.
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pom
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Post by pom on Jun 19, 2017 18:34:23 GMT
Me too - requested on the 16th  |
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Jun 19, 2017 19:44:01 GMT
I have dealt with this type of setup before charles and it is indeed another layer of security. With another investment I have, they use a 3rd party solicitors to manage the client account and although somewhat slower it does mean that people cannot simply run off with your cash or use it to pay their overheads. Mike
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Post by charles on Jun 26, 2017 15:48:35 GMT
I have dealt with this type of setup before charles and it is indeed another layer of security. With another investment I have, they use a 3rd party solicitors to manage the client account and although somewhat slower it does mean that people cannot simply run off with your cash or use it to pay their overheads. Mike Thanks gibmike, it's great to hear that you appreciate the benefits of such a setup. And justsaying, pom, @leopardcat, Steerpike, even though you've withdrawn funds from Property Crowd, I would like to thank you for your support and hope to see you back investing with us in the near future. We will be offering a number of deals in the coming weeks which I think you will find very attractive from a yield and underlying asset perspective. Kind regards, Charles
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