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Post by Financial Thing on May 15, 2017 17:58:45 GMT
I believe LI is complying with the FCA with this new eligibility requirement. When I got the notification, I selected I was a high net worth investor, took a simple quiz then my account was just as normal. Not sure why people are exiting because of this? ...because not everyone has an income over £100,000 or £250,000 in liquid assets! I'm not a HNW investor. I could have picked any of the three options, results would have been the same. You don't even have to verify this status. It's purely a formality.
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Post by gidoppp01 on May 15, 2017 22:56:40 GMT
Just Spotted (in my Junk email) an email from Lendinvest. They have just changed their criteria, and i dont qualify (without lying) on any of them. The rules are fairly tight and even as a recently retired accountant i fall short. I was withdrawing funds anyway as i couldn't also reinvest my repayments at an acceptable interest rate. With FC stopping property loans, my platform diversity is struggling a bit. Just hope that all the platforms dont go down this route. Hi, I don't like the changes as well. It seems the recent change is about selecting customers who understand their capital is at risk and cannot be compensated when the load is defaulted or Lendinvest goes bust.
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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.
Posts: 256 
Likes: 160
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Post by gibmike on May 17, 2017 20:57:59 GMT
I am completely out. I am a HNWI investor in P2P but I EXPECT the same treatment whether I have £100 or £150,000 invested.
I wish them all the success they deserve based on their new terms.
For the record, I am now with:
Assetz
Funding Secure
ABLrate
Disgruntled ex-LendInvest champion.
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