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Post by gramsky on Apr 30, 2024 8:43:50 GMT
I have for some time (over a year) had several loans which have failed to repay on the expected expiry date and each month when the expiry date is due they get delayed by at least another month with no explanation.
One of the loans I have not received an update for over a year and repeated enquiries to Relendex are to no avail, in fact when I make enquiries on their online chat facility they ignore me and go offline.
I am beginning to think Relendex is going the same route as other P2P lending sites.
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scooter
Member of DD Central
Posts: 363
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Post by scooter on Apr 30, 2024 12:04:10 GMT
Not one I invest with. It depends how committed you are to getting the updates really, but you could email them and ask for a final response for the FO. They have 8 weeks to reply and they do have a duty to keep you informed so it should prompt a response.
It looks like they have a lot of data available to view for lenders. Do your own DD. Search the addresses. Look for estate agents info, auctions, planning, read the survey reports. Find out what they are not telling you.
You could tell the FCA about the poor communication as well
consumer.queries@fca.org.uk
That will, at the very least, notify the team covering Relendex that they are not communicating properly with investors and might prompt better responses.
I know it all seems a bit bear with no teeth, but that is all investors have.
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Post by uksoul on May 1, 2024 9:40:16 GMT
I have for some time (over a year) had several loans which have failed to repay on the expected expiry date and each month when the expiry date is due they get delayed by at least another month with no explanation. One of the loans I have not received an update for over a year and repeated enquiries to Relendex are to no avail, in fact when I make enquiries on their online chat facility they ignore me and go offline. I am beginning to think Relendex is going the same route as other P2P lending sites. Their online chat does have a habit of ignoring requests for updates, but persistence does pay off, I have found. Eventually I have got answers to my queries. I have found Relendex great if you ignore the expiry dates and sell up 2 months before. I do not go full term anymore with their loans. Some projects recently have been repaid earlier though. I do not think they are going the same route as others, but they need to deliver on promises made such as an improved platform. A customer survey carried out a few years ago about improvements wanted and still nothing done despite record profits over recent years.
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p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on May 1, 2024 9:49:32 GMT
I have for some time (over a year) had several loans which have failed to repay on the expected expiry date and each month when the expiry date is due they get delayed by at least another month with no explanation. One of the loans I have not received an update for over a year and repeated enquiries to Relendex are to no avail, in fact when I make enquiries on their online chat facility they ignore me and go offline. I am beginning to think Relendex is going the same route as other P2P lending sites. That is very poor form! I am sorry to read you're experiencing this. There's some excellent advice given in the comments above. Contacting the FOS might wake up Relendex. I would personally avoid investing with Relendex if this is how atrociously they treat investors. They remind me of quite a number of platforms that have left investors high and dry.
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