ashtondav
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Post by ashtondav on Jun 6, 2019 17:32:46 GMT
Nearly 3 years late. Think of all that rolled up interest piling up. I’m surprised it hasn’t been torched and become the subject of an, ahem, insurance claim.
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ashtondav
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Post by ashtondav on Jun 6, 2019 17:12:30 GMT
To be fair it’s just over 5 months. Hopefully they’ll update end this month.
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ashtondav
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Post by ashtondav on Jun 5, 2019 19:53:02 GMT
A lot better than being in a five year contract, which is what you signed up to as there was never a commitment to sell out within a few days - as there is at some AC access accounts - “under normal conditions, of course”. Unfortunately you signed up for a high risk product, which anything offering 6%+ when BS 5 year risk free rates are 2% clearly were. Sad that the FCA has been so slow to step in for these unsophisticated souls.
Look on the bright side - you’ve probably lost less than those in the Woodford income fund who can’t get their money out at all.
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ashtondav
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Post by ashtondav on Jun 5, 2019 16:05:03 GMT
Unusual, but not unprecedented. Yesterday was extremely delayed, and presumably this has had a knock-on effect into today.
If I were to hazard a guess, I would say they have a scheduled task to start the days payments at, say 2am. If that job takes so long that it's still running by the next time it's due to run, then it doesn't start a second instance. So today's payment run would then have to be started manually, which means later (maybe when someone arrives at the office), and slower because there's more database activity during daytime. Just my guess ... been there, done that!
Maybe the YTS trainee who runs the update had had a really long day and was given the next morning off? Blimey, Stonk, that ages you
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ashtondav
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Post by ashtondav on Jun 5, 2019 14:14:30 GMT
With mortgage lenders only able to get 2% on their money there is no shortage of institutional investors willing to hoover up 3% - 4%.
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ashtondav
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Post by ashtondav on Jun 5, 2019 5:46:23 GMT
From today’s Times:
“GLI Finance, an Aim-listed group that has stakes in several peer-to-peer platforms, warned last month that one of its investments was facing “significant financial difficulties” and that it needed an immediate capital injection to continue trading.”
Well who could that be, boys and girls....
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ashtondav
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Post by ashtondav on Jun 3, 2019 17:25:00 GMT
At least it’s quicker than the poor mugs in Woodford Equity Income Fund - all dealings suspended until further notice.
Count yourself lucky. FC is a five year product - an OEIC Fund is meant to provide liquidity.
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ashtondav
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Post by ashtondav on Jun 2, 2019 12:38:44 GMT
Is that factually correct? In other words when I deposit £1,000 there is a FC geek who decides whether 10% or 90% is allocated to new loans first, or buying second hand loans. HTF does that work? I’m guessing you think/know that FC allocate new funds to new loans they need to fill first, rather than second hand loans their dissatisfied lenders are ditching and where there is no financial advantage for FC. Correct?
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ashtondav
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Post by ashtondav on Jun 2, 2019 10:56:45 GMT
Lets not forget it is a five year product.
You are asking other lenders to buy something you would not buy. Let’s face it, it’s not surprising it ain’t quick! When NR and Halifax hit the sh*t you couldn’t withdraw Nada. Think yourself lucky there are punters prepared to buy your cast offs - even if it does take a few months.
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ashtondav
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Post by ashtondav on Jun 2, 2019 9:05:58 GMT
Next to go down...
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ashtondav
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Post by ashtondav on Jun 1, 2019 13:54:42 GMT
Do they still have government investment? Yes, the British Business Bank bunged in a wedge late last year. And the European Investment Bank announced they were bunging a wedge in in April. Whether that’s good or bad is another matter. As for selling your loans this will take ages for the simple reason lenders can get better returns from the likes of LW, RS and AC with more transparency and better protection. I’m not selling as it’s the best way of GUARANTEEING you end up with a crock of sh*te, but I am withdrawing repayments.
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ashtondav
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Post by ashtondav on May 31, 2019 10:05:56 GMT
Earning 3.7% on core and on plus. In my case as a founder member I get an extra 1% so 4.7%.
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ashtondav
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Post by ashtondav on May 26, 2019 10:46:23 GMT
Yep my 9th deposit has been loaned now.
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ashtondav
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Funding Circle (FC)
Trust Pilot
May 26, 2019 10:42:33 GMT
Post by ashtondav on May 26, 2019 10:42:33 GMT
And done.
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ashtondav
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Post by ashtondav on May 24, 2019 10:02:42 GMT
9th May and still waiting. LW please get matching times right, or be conservative in estimates as it affects what I do with my cash.
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