Seen adverts recently for CHASE bank, the selling point seems to be the numbers not on the card it's all in the app
Durr great until you want to buy online and it asks for the card number or the APP goes down as adrianc will confirm not everywhere has great mobile signal yet this whole thing is built around it.
But at least we are not the powerhouse that is the US of A some people are still paid by cheque and take it to the bank to cash it. 40 odd years ago when I started my first job they wanted bank details so I could be paid directly to the bank.
In my recent experience in the US, tradesmen and the like only wanted payment by cheque (check). My suggesting online payment was a complete curveball to them. I even dealt with a car dealer who wanted my personal cheque in preference to online payment...
Don't be worrying about the North Molton loan. Relendex have a personal guarantee from the directors for the capital value of the loan, interest due under the loan and development cost overruns..............
........... and I have every confidence in Relendex returning all capital and interest owed. I also expect England to win 17-0 on Sunday night. Ever the optimist!!
Has anyone received any update about the North Molton loan since late May?
I wonder if there will be scope for non-agreed bids on this one. Both layers are substantial and the lower rates might put some off. What do others think?
Maybe on Layer 1. I suspect Layer 2 will fill quickly...
I quote 'The Loan Book Sale agreements allow for repayment to occur 60 days from the specified payment dates and therefore please note that provided full repayment is made by the end of February 2022, no events of default will have occurred.' So they are now in default.
Email received: The final payment is now subject to delay but is currently forecast to be paid in full by Thursday 14 April 2022.
One of my smallest P2P investments, but probably the most anger-inducing .
I quote 'The Loan Book Sale agreements allow for repayment to occur 60 days from the specified payment dates and therefore please note that provided full repayment is made by the end of February 2022, no events of default will have occurred.' So they are now in default.
Email received: The final payment is now subject to delay but is currently forecast to be paid in full by Thursday 14 April 2022.
"We have now repaid over £75 million to investors with an average return of 9% per annum across senior and mezzanine loans and maintained our spotless track record with no investment losses or defaults to date."