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Spv 81
Nov 2, 2017 10:32:24 GMT
Post by sayyestocress on Nov 2, 2017 10:32:24 GMT
Been on chat - property management team looking into it - no information as yet! EDIT: 5 hours after raising, still no info - I don't know about anyone else, but my pitchfork is out & sharpened - I won't accept the ramshackle service any more! Any news? I would have hoped you'd have an answer by now. SPV81 is their biggest listing; you'd think it not paying out would be quite a large priority to sort out...
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carolus
Member of DD Central
Posts: 204
Likes: 191
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Post by carolus on Nov 2, 2017 12:39:10 GMT
Been on chat - property management team looking into it - no information as yet! EDIT: 5 hours after raising, still no info - I don't know about anyone else, but my pitchfork is out & sharpened - I won't accept the ramshackle service any more! Any news? I would have hoped you'd have an answer by now. SPV81 is their biggest listing; you'd think it not paying out would be quite a large priority to sort out... There's now an update on the platform (why they can't provide email notifications when an update is posted, I don't know). They're expecting the money to come this week...
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Spv 81
Nov 3, 2017 13:40:25 GMT
via mobile
jnm21 likes this
Post by propertycalf on Nov 3, 2017 13:40:25 GMT
Still no payment..
Be interested to see what the arrangement with the under writing company is?
I've looked into it a little and the under writing company offers a substantially larger gaurenteed annual return.
The frequency of these payments is also of interest to me, do they receive it quarterly?
I like the concept of property moose, it's a shame things like this are happening
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hazellend
Member of DD Central
Posts: 2,363 
Likes: 2,180
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Spv 81
Nov 3, 2017 17:26:55 GMT
via mobile
jnm21 likes this
Post by hazellend on Nov 3, 2017 17:26:55 GMT
Still no payment.. Be interested to see what the arrangement with the under writing company is? I've looked into it a little and the under writing company offers a substantially larger gaurenteed annual return. The frequency of these payments is also of interest to me, do they receive it quarterly? I like the concept of property moose, it's a shame things like this are happening You may grow to despise PM. They certainly seem to believe in “the beatings must continue until morale improves” !
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Spv 81
Nov 3, 2017 17:42:32 GMT
via mobile
jnm21 likes this
Post by propertycalf on Nov 3, 2017 17:42:32 GMT
You may well be right..
My expectations were raised earlier when their customer service said they hoped for the funds to be in and paid to investors by the end of today.
Monday at the earliest I'd imagine now
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jnm21
Posts: 441
Likes: 167
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Spv 81
Nov 5, 2017 23:42:26 GMT
Post by jnm21 on Nov 5, 2017 23:42:26 GMT
I wonder what the interest on a third of a million for a week is at unauthorised borrowing rates?
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lofty
Posts: 101
Likes: 104
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Spv 81
Nov 6, 2017 17:32:29 GMT
Post by lofty on Nov 6, 2017 17:32:29 GMT
I wonder what the interest on a third of a million for a week is at unauthorised borrowing rates? And who gets it??? 
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jnm21
Posts: 441
Likes: 167
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Spv 81
Nov 6, 2017 21:25:49 GMT
Post by jnm21 on Nov 6, 2017 21:25:49 GMT
I wonder what the interest on a third of a million for a week is at unauthorised borrowing rates? And who gets it??? Not us (the investors)!
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Spv 81
Nov 7, 2017 10:12:05 GMT
Post by sayyestocress on Nov 7, 2017 10:12:05 GMT
The payment still hasn't arrived....
And more importantly the proceeds of the sale of SPV77 seem to be taking an age to materialise as well....
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Post by propertycalf on Nov 7, 2017 13:06:42 GMT
Investing is tedious at the best of times without companies not fulfilling expected time frames..
I'm sick of messaging them, I got told that payment yesterday was a cert.. were now halfway through the day after & nothing
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jnm21
Posts: 441
Likes: 167
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Post by jnm21 on Nov 7, 2017 23:50:45 GMT
Agree with the above comments - simply unprofessional, despite the assurances to the contrary.
I have stated that there needs to be financial recompense - they wouldn't get away with treating banks like this, there would be huge penalties.
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Spv 81
Nov 8, 2017 12:50:44 GMT
via mobile
Post by propertycalf on Nov 8, 2017 12:50:44 GMT
I would have had sympathy for PM, if the problem is indeed external.
But announcing they are in receipt of the funds Friday evening and no payment by atleast midday Wednesday is outrageous.
Is it any wonder why SPV83 if struggling to fund?
This is damaging to property mooses reputation and in affect damaging to every penny of every investor. Who will buy on the secondary market of a platform that pays when it likes?
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Spv 81
Nov 8, 2017 12:53:59 GMT
via mobile
Post by propertycalf on Nov 8, 2017 12:53:59 GMT
Agree with the above comments - simply unprofessional, despite the assurances to the contrary. I have stated that there needs to be financial recompense - they wouldn't get away with treating banks like this, there would be huge penalties. A rebate on their fees or something similar might suffice?
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jnm21
Posts: 441
Likes: 167
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Spv 81
Nov 8, 2017 18:52:14 GMT
via mobile
Post by jnm21 on Nov 8, 2017 18:52:14 GMT
Still nothing - 5 days with no update! Where is the no confidence button? Two questions: if they pay a month in arrears normally, when was this payment due to PM? Second is the obvious - have they got money? Come on propertymoose give us an update - you owe us far more! EDIT: I did have an update by email this morning - I don't know if it is acceptable to post it up? Having wrestled for some time (during which carolus has beaten me to the punch), I think it is only fair to describe the update. They have not yet got the money! They do intend to pay interest on the overdue amount. I believe them when they say they are doing all they can to have this resolved ASAP. I would say that they must make an example with this one - they need to reassure us that they can resolve issues such as this. |
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carolus
Member of DD Central
Posts: 204
Likes: 191
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Post by carolus on Nov 8, 2017 23:08:16 GMT
Live chat say that they've got the funds, they just haven't cleared yet. I would have hoped that they might have factored that into their payment timescales, but it seems not.
I'm now midway through a sellout as, although I like the idea, I don't think it's competently run enough. If I wasn't, I'd be adding this to my list.
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