littleoldlady
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Post by littleoldlady on Oct 22, 2020 17:41:55 GMT
The latest update says that the expected sale will be sufficient to repay the loan, but makes no mention of interest. Am I being cynical and/or pessimistic in noticing this?
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Greenwood2
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Post by Greenwood2 on Oct 22, 2020 19:09:39 GMT
The latest update says that the expected sale will be sufficient to repay the loan, but makes no mention of interest. Am I being cynical and/or pessimistic in noticing this? Probably lucky to get anything back. 
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averageguy
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Post by averageguy on Oct 22, 2020 19:42:36 GMT
Emailed back asking about the interest
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averageguy
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Post by averageguy on Oct 23, 2020 15:53:42 GMT
Reply received
Capital plus interest expected.
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averageguy
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Post by averageguy on Aug 3, 2021 21:10:59 GMT
This one just drags on and on….various statements made over an exit ….nothing ever materialises.
The last update suggested something would happen by the end of July…nothing.
Also, indicated more info would be forthcoming ..that was July 2 nd…nothing
Emailed them today…reply? Nothing
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littleoldlady
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Post by littleoldlady on Aug 3, 2021 21:41:43 GMT
Once a platform goes into rundown the owners usually lose interest. The exception is Octopus who are a large company and would not want to damage their reputation over a relatively minor part of their business.
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averageguy
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Post by averageguy on Sept 10, 2021 20:42:33 GMT
This one is going on and on…each month provides a new excuse ..absolute shower ..glad I just dipped my toe in on just one loan
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averageguy
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Post by averageguy on Nov 17, 2021 20:36:19 GMT
Update today……can kicked down road ….again…. should rename this lot PropertyShower
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smee
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Post by smee on Nov 19, 2021 10:35:47 GMT
I wish I’d only dipped my toe in but they seemed so much more reliable (you never can tell) than L, FS, M etc. that I invested in several loans with this shower. One has already lost all capital and the others are dragging on and on and prospects look grim. This could be my worst loss yet, and as has already has been said by littleoldlady they still keep charging ISA fees.
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littleoldlady
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Post by littleoldlady on Nov 19, 2021 11:11:41 GMT
I wish I’d only dipped my toe in but they seemed so much more reliable (you never can tell) than L, FS, M etc. that I invested in several loans with this shower. One has already lost all capital and the others are dragging on and on and prospects look grim. This could be my worst loss yet, and as has already has been said by littleoldlady they still keep charging ISA fees. I wish I had put more DD into PC before investing. Accounts filed at Companies House reveal them to be a tiny organisation with insufficient staff to run a p2p business properly. I also see that in the holding company accounts the subsidiary Property Crowd was "Not trading" in Sep 2019, that's 10 months before they told us that they were not offering new loans. I fear that nothing is being done beyond collecting the ISA fee.
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Post by overthehill on Nov 19, 2021 11:22:57 GMT
I wish I’d only dipped my toe in but they seemed so much more reliable (you never can tell) than L, FS, M etc. that I invested in several loans with this shower. One has already lost all capital and the others are dragging on and on and prospects look grim. This could be my worst loss yet, and as has already has been said by littleoldlady they still keep charging ISA fees.
For existing investors it's painful getting dragged over hot coals but it is a warning to others.
Any property company that loses ALL your capital on any 1st charge property isn't even close to a property company, just a front to draw people and money in.
I can hardly find a reference to this company in any search engine, under the radar, unseen, unheard of is not a good thing when you're investing.
Their website must have been changed when they strategically pulled out of P2P before the FCA and analysts increased their level of scrutiny. I haven't seen a website like that since the first day our company got an internet connection.
If it's not mentioned on 4thway.co.uk in a good way then avoid, there is plenty of choice. 4thway's record is as good as any of the best P2P companies, none of the deliberate shipwrecks exposed in this forum have had any kind of rating.
Places like Trustpilot, Google, Facebook are diabolically bad places to decide whether or not to invest sums of your hard earned money.
Start from the default position, you can't trust any company or person with your money, you need to build a case to improve your odds of winning.
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littleoldlady
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Post by littleoldlady on Nov 19, 2021 12:30:35 GMT
I wish I’d only dipped my toe in but they seemed so much more reliable (you never can tell) than L, FS, M etc. that I invested in several loans with this shower. One has already lost all capital and the others are dragging on and on and prospects look grim. This could be my worst loss yet, and as has already has been said by littleoldlady they still keep charging ISA fees.
For existing investors it's painful getting dragged over hot coals but it is a warning to others.
Any property company that loses ALL your capital on any 1st charge property isn't even close to a property company, just a front to draw people and money in.
I can hardly find a reference to this company in any search engine, under the radar, unseen, unheard of is not a good thing when you're investing.
Their website must have been changed when they strategically pulled out of P2P before the FCA and analysts increased their level of scrutiny. I haven't seen a website like that since the first day our company got an internet connection.
If it's not mentioned on 4thway.co.uk in a good way then avoid, there is plenty of choice. 4thway's record is as good as any of the best P2P companies, none of the deliberate shipwrecks exposed in this forum have had any kind of rating.
Places like Trustpilot, Google, Facebook are diabolically bad places to decide whether or not to invest sums of your hard earned money.
Start from the default position, you can't trust any company or person with your money, you need to build a case to improve your odds of winning.
A good summary that deserves a position in this forum where it will receive more exposure to any newbies. I would however comment on your first point which though certainly true AFAIK any total loss on PC has been on a mezzanine loan. But if anyone has lost all on a 1st charge loan then I am happy to be corrected.
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littleoldlady
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Post by littleoldlady on Feb 11, 2022 22:31:51 GMT
Vultures Administrators now appointed. Judging from similar incidents on various platforms Administration costs will be high, and I see another haircut looming.
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littleoldlady
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Post by littleoldlady on Jun 28, 2022 19:08:07 GMT
I have just noticed that this site is supposed to be in Gloucestershire, "3 miles west of Stroud", but the location map shows it in the middle of Buckinghamshire.
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averageguy
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Post by averageguy on Feb 15, 2023 23:38:09 GMT
Another four months slip by without any update….draft contracts were supposed to have been sent out on October 10th…..no indication over what percentage might eventually be paid out…probably England might have won a World Cup by the time we find out …utterly useless
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