Updated T&Cs: effective 31 May 2017

Perhaps BM should consider leaving the 1% fee for the 'early adopters', like Zopa did in the old days, leaving fees at the level when you joined. We did help you get a toe hold!

The answer would appear to be yes.

The headline investment rate may be *% but that ignores cash drag. So the lower fees for higher amounts deposited (or is it parked) on the BM platform are negated by cash drag. Now if BM were able to somehow guarantee that funds would be invested within ** days then possibly the amended T&Cs could be justified - but they cannot of course so the 7 - 28 day is a little misleading. So do I feel willing to top up my funds which may take several weeks to allocate resulting in an XIRR rate far below the headline BM rate - the jury is out in my head but it's not looking promising.

Agree with many of the sentiments regarding early platform adopters who now feel as though they are being cast adrift. Whilst platforms need to develop I'm not convinced this is the best way of going about it. The net target of 6.9% for 250k is not especially attractive not that I'd be willing to invest/park that amount with one single platform.

I am disappointed, maybe I should start a little company for small investors and charge a 1% fee and target a return of 5.5% .

I only have £2000 invested and to be honest my £20 for the year would hardly cover a few beers at the Christmas party. It ain't a nice feeling not having much money and feeling that you can't hang around.

Good luck to Steve and team at BondMason, my financial situation at the minute means I can't stay with you for much longer. Thank you for the past 9 months, all the best for the future.

i haven't yet but i will be very soon, the risk doesn't reduce just because the return has. i want to find a new home for the cash first.

Little point in doing that as BM as fairly active around the forum so will be well aware of the sentiments expressed. Of course, forum members make up a minority of investors so will be interesting to see how this pans out.

It could of course just be that the original platform model doesn't work for BM so they are being 'forced' into changing track although why early adopters are being booted out if they're not able or willing to comply is poor marketing. The biggest problem if you are able to increase your investment is that cash drag and the inability to invest within the 28 days IMO.

Raising the fees less than a year after I started, and having struggled to get my funds invested, full deployment of those funds being a very occasional rather than regular feature - I think I know where this is leading me.

Good luck with deploying your £100K+ accounts, Stephen.

Oh, and can you clarify on fees please.

1.5% p.a. on investment amounts up to £25,000
1.25% p.a. on investment amounts from £25,001 to £100,000
1.0% p.a. on all invested amounts over £100,000

Example: Does an account of £50K have fees of 1.5% for the first £25K + 1.25% on the second £25K, or is the 1.25% on the whole £50K?

Similarly, does an account of £100,001 have fees of 1.5% on the first £25K + 1.25% on the next £75K, then 1% on the last £1? ... (Meaning basically that an account of £100K would be paying a composite fee of 1.3125%)  or, is the 1% fee on the whole £100,001?

I am very disappointed by this proposed change. I wasn't in a position to start with a large amount of money in BM so I have gradually added funds as and when they matured from elsewhere and only today I transferred a further £1200, bringing my total to more than the £5000 minimum.Cash drag has been a bit of a problem but I accepted it because, overall, I liked the BondMason business model.

I now find myself stuck with the prospect of a 50% hike in fees and, of course, the certainty of defaults in the fullness of time. As has been said, the risks haven't changed other than the reduction if Invoice Discounting, but the cost has gone up dramatically.

I find myself becoming increasingly disillusioned with P2P in general as so many platforms seem to be moving away from their core values - just look at Zopa, Rate Setter and Wellesley. I have already withdrawn all my funds from RS and my wife has substantially reduced hers, running down the remainder. To be honest the way RS is going really scares me. I am not an expert investor and lack the skills necessary to pick business loans so I have to rely on others to do it for me and trust their judgment, but on the other hand there is no way I can accept the pitiful rates offered by banks and building societies.

Right now I am not sure what I will do with my BM investments, but if I can find a better home they will be moved. This is a great pity as I had planned to increase my BM investments over time but that is now on hold for the time being.