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 Mar 7, 2017 14:32:48 GMT
charles Make sure a bypass is available for people who do not actually have a passport. I wouldn't want to be stalled for that reason if I were to think of registering. The irony is I dont or a driving licence. Registration took about 5 secs. I have no problems with any of the Gallium AR but struggle with most others as they default straight to document proof without trying electronic means.
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mikes1531
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Post by mikes1531 on Mar 7, 2017 14:41:30 GMT
Thinking this info might be behind a member's wall, I registered... : I didn't even get that far. I clicked on the advert at the top of this page. Near the bottom of the page it took me to was... I have a goodly sum invested in P2P and elsewhere, but I'm not a 'professional' investor, so I quickly concluded PC did not want me as an investor.
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SteveT
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Post by SteveT on Mar 7, 2017 14:43:34 GMT
I don't think anyone who isn't familiar and comfortable with the concepts of equity vs senior debt vs mezzanine finance should be self-certifying as a sophisticated / high net worth investor (part of the PC registration process)
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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 Mar 7, 2017 14:50:17 GMT
Who on earth thinks up rubbish like 'Senior Debt' and 'Mezzanine' to describe risk groups?
As for sign up - that appeared to be simple until I signed in for the first time and was presented with 'Investor on-boarding pending'. Do these guys not know any normal English? However, the process went fairly smoothly for me with no need for passports and the like.
Im afraid these are standard terms for describing debt and loans and have specific meanings in finance. Ive been 'on-boarded'  many times, but its an American term so I guess you can say its not normal English, induction, orientation, probably more common here. 
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twoheads
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Programming
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Post by twoheads on Mar 7, 2017 14:51:37 GMT
I don't think anyone who isn't familiar and comfortable with the concepts of equity vs senior debt vs mezzanine finance should be self-certifying as a sophisticated / high net worth investor (part of the PC registration process) Yes, I looked up the terms and found that they relate to the loan security and it's position in the pecking order charges.
But you're right, I don't know anything like enough at the moment to be getting involved with PC.
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Post by charles on Mar 7, 2017 14:57:56 GMT
charles Make sure a bypass is available for people who do not actually have a passport. I wouldn't want to be stalled for that reason if I were to think of registering. Dear oldgrumpy, please be assured our compliance team will accept other forms of government-issued photo ID (e.g. drivers' licence). Kindly also note that in the event a user does not pass the automated online ID check, we assess each exception on a case-by-case basis, which usually results in us successfully verifying the client's identity. You'll see from the following discussion thread that most of these issues are the result of something small (e.g. a wonky address on the Electoral Roll) and can easily be sorted out --> p2pindependentforum.com/thread/8107/certified-documents
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jonah
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Post by jonah on Mar 7, 2017 16:22:45 GMT
I don't think anyone who isn't familiar and comfortable with the concepts of equity vs senior debt vs mezzanine finance should be self-certifying as a sophisticated / high net worth investor (part of the PC registration process) I agree for sophisticated. HNWI however is a much easier hoop to jump through. I suspect though that most people would get the concepts but not necessarily the jargon. That said, this thread seems to be massively off course. Back to the OP, jackpease Fair points. Personally SS were at one time 10x ish the size of my MT investment. Given changes, MT is now c50% more than Ss. I don't expect mt to ride this wave forever (see b*** fo****** grounds as an example of why not), but mt do a lot of things average or well, and communicates generally excellently.
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Post by dualinvestor on Mar 7, 2017 16:45:02 GMT
In response to the thread title, aside from minor definitions, no.
The reasons for preferences are much more subtle and probably due to perspectives of the platforms than the reality of the individual overdue loans. These may change over time and I suspect that if SS' aim of better communication comes to fruition and with maturity MT's decline, all other things remaining equal there might be an evening up of opinion.
Of course things will not remain the same. SS might get more adverse comments because of falling rates, bad debts, the promised rebranding, MT might not be able to get sufficient deal flow, it's longer term non-property loans could get into dificulties etc etc. But for the time being sentiment, on this forum at least, appears to be going in their favour, nothing lasts forever. .....
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adrianc
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Post by adrianc on Mar 7, 2017 17:01:25 GMT
And then by the second page I was asked to provide certified copies of my passport, utility bills etc. Certified copies?? That sounds rather antiquated. I don't recall having to do that with any other P2P platforms who have more automated ways of doing KYC.
If it's any consolation, I've just had a bit of an argument with a big, established "real-world" financial institution, who are demanding certified copies of BOTH passport and driving licence - I've been dealing with them for years, but they've decided they need this EVERY TWO YEARS from now on. Seriously. I despair.
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Post by Deleted on Mar 7, 2017 19:07:33 GMT
Certified copies?? That sounds rather antiquated. I don't recall having to do that with any other P2P platforms who have more automated ways of doing KYC.
If it's any consolation, I've just had a bit of an argument with a big, established "real-world" financial institution, who are demanding certified copies of BOTH passport and driving licence - I've been dealing with them for years, but they've decided they need this EVERY TWO YEARS from now on. Seriously. I despair. - do not despair, I will send you a can of shavingcream to cheer you up (it is all I can afford with the dropping rates!)
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adrianc
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Post by adrianc on Mar 7, 2017 19:33:47 GMT
If it's any consolation, I've just had a bit of an argument with a big, established "real-world" financial institution, who are demanding certified copies of BOTH passport and driving licence - I've been dealing with them for years, but they've decided they need this EVERY TWO YEARS from now on. Seriously. I despair. - do not despair, I will send you a can of shavingcream to cheer you up (it is all I can afford with the dropping rates!) I appreciate the sentiment, but...
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Post by GSV3MIaC on Mar 7, 2017 20:16:53 GMT
I remain puzzled by repeated suggestions that people are dumping SS in favour of MT (even if a normal busy person could get invested in anything other than Tranche 999 of a northern loan). SS's loans go overdue - and are clearly labelled as such. Most don't seem to care and invest anyway, at least the very overdue loans have now been banished behind a default tab. Meanwhile the jolly nice folks at MT, who can do no wrong, merely extend them. So a quick glance at MT's loans page and all looks fine and dandy. A quick look at SS's loans page and it looks a mess. If you spread your investment across SS loans you will have some linked lenders borrowers - if you do the same in MT you will have a lot of linked lenders borrowers. /mod hat off When MT extend them, they are (as far as we know) still getting monthly interest payments from the borrower. I don't believe they retain the interest up-front like SS do, and I don't believe they have an 'SBL' (platform is bankrolling the interest) category, so when you get interest from MT you assume the borrower is still alive and funding it. MT also have a (few) categories other than 'property' you can (if you are there at the right time) invest in. And the money in/out, and communications, and 'things happening when they say they will' at MT is way ahead of what SS can currently manage. Oh, and MT haven't offered us any 7% PBL-type loans (yet). Not sure I subscribe to 'MT can do no wrong', but so far they have mostly managed not to (apart from consuming a higher-than-recommended carb loading in chocolate bars). 8>.
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Post by chielamangus on Mar 7, 2017 21:52:34 GMT
charles Make sure a bypass is available for people who do not actually have a passport. I wouldn't want to be stalled for that reason if I were to think of registering. No worries, Grumps. Your driving licence is an alternative - but find someone to assert that the fresh-faced individual in the photo is really you.
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Post by jackpease on Mar 8, 2017 6:01:22 GMT
In response to the thread title, Hoorah, back to the point after a polite but disruptive 'advertorial' intervention early on means this thread may as well be switched to the Property Crowd board :-( Jack (O.P)
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elliotn
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Post by elliotn on Mar 8, 2017 6:33:05 GMT
Unseemly decorum aside, are there any t&c for reps interfering on other boards to poach investors? Would charles be as accomodating if another newbie, say LandlordInvest, were prostituting themselves all over PC threads?? |
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many times, but its an American term so I guess you can say its not normal English, induction, orientation, probably more common here. 
