London Capital & Finance

I see that London Capital & Finance are offering 8% per annum over three years for a minimum of £5000 investment has anyone had any dealing with this company, sounds too good to be true given the current interest rates available?
JamesTW
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  • jimjames
    jimjames Posts: 17,532
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    JamesTW wrote: »
    I see that London Capital & Finance are offering 8% per annum over three years for a minimum of £5000 investment has anyone had any dealing with this company, sounds too good to be true given the current interest rates available?
    JamesTW

    It's not cash deposit so not FSCS protected and you can lose 100% of your money. Does that help?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Thanks jimjames
    Yes the fact that it is not FSCS protected ensures too much risk on my part - thought it was too good to be true. Still looking around for the highest interest rate available for some savings but guess the ones that Martiin is showing on the site are probably the best available at this time.
    Thank you
  • jimjames
    jimjames Posts: 17,532
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    Spam reported
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Eco_Miser
    Eco_Miser Posts: 4,708
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    Spam gone.
    Eco Miser
    Saving money for well over half a century
  • Of course, the risk of 100% loss is not promising. I'd better think twice. You know, I've got small business and some stable income. And I've got many friends operating huge business chains. The main thing I've learnt from them is to save money regardless of how much you earn - $5k or $5mil. If I were you I'd rather find the right transfer service to have the trust for the safety of the funds and to expand the chain of my partners, as well.
  • dunstonh
    dunstonh Posts: 116,044
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    Of course, the risk of 100% loss is not promising.

    High risk. no FSCS protection. Non-mainstream. Not a retail financial product. Intentional marketing that is pretty disgraceful.

    Think more than twice.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Reaper
    Reaper Posts: 7,277
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    I've got small business and some stable income... The main thing I've learnt from them is to save money regardless of how much you earn
    In which case how come you are badly in debt?
    http://forums.moneysavingexpert.com/showthread.php?p=70561877#post70561877
    And why would you be looking at long term savings if you are?
  • jimjames
    jimjames Posts: 17,532
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    Reaper wrote: »
    In which case how come you are badly in debt?
    http://forums.moneysavingexpert.com/showthread.php?p=70561877#post70561877
    And why would you be looking at long term savings if you are?
    Based on the random collection of words that don't tie in with the OP I suspect maryapple1993 to be a spammer
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Of course it is not FSCS protected, but it is FSCS monitored. The reason it's not FSCS protected is because it is a somewhat high risk investment, you can't have your cake & eat all of it! ISAs, High St bank savings & low risk, low interest bonds will be protected, but not higher risk bonds. That said, I am thinking of investing in London Capital & Finance. Thus far, they have never defaulted on any investment.
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