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  • FIRST POST
    • Zoea
    • By Zoea 3rd Oct 17, 6:59 PM
    • 12Posts
    • 0Thanks
    Zoea
    UCGTRUST - p2p lending - possible 13% annually - any experience?
    • #1
    • 3rd Oct 17, 6:59 PM
    UCGTRUST - p2p lending - possible 13% annually - any experience? 3rd Oct 17 at 6:59 PM
    Hi

    These guys showed up in my twitter feed.

    They get something like 8.6/10 on trustpilot with 10 or more reviews (not a lot).

    They are offering 11.5% APR returns on investments of over £1000 for a 3 year fixed term. You can fix shorter but the interest is less. All the info is on the website and trust pilot I won't link it but I won't go over it all, it's easy to find, will take you 15 mins to fully understand.

    The money is guaranteed in case the debtor defaults, by the company.

    There is a referral scheme whereby if you use a referral code you get an additional 1.5% interest for the term, and the referee gets 1% of your initial deposit. So with 11.5% + 1.5% for being referred you could potentially AFAIK get 13% returns for 3 years.

    Any experience with this or similar? If you already have this, I'm planning to invest a little, anyone wanna PM me a referral code?

    Thanks. I know you guys don't like high interest get-rich-quick style schemes but this seems to be the real deal and it has (edit)[£^d] $133 million lent so far.

    Best wishes
    Zoea
    Last edited by Zoea; 03-10-2017 at 8:10 PM.
Page 1
    • Zoea
    • By Zoea 3rd Oct 17, 7:48 PM
    • 12 Posts
    • 0 Thanks
    Zoea
    • #2
    • 3rd Oct 17, 7:48 PM
    • #2
    • 3rd Oct 17, 7:48 PM
    This is looking better and better. Had a reply to my email within an hour (out of hours):

    Hi *****

    Thank you for contact us.

    To apply your personal referral promo code you DO NOT need first to open an account, just provide a registration and then in your UCG TRUST account you should to press on "Generate my promo code" in the "Career" section. This will be your personal promo code which can be applied to all of your deposit accounts including your first deposit account. Then go to "My deposit account" and enter this code in Investor Application Form, enter the desired amount to invest, period and currency and then transfer money to your UCG TRUST account. With the promo code your annual interest will be greater on 1,5%, so if you choose 36 months for investing you will get a fixed 13% annually. Additionally you will be credited a one-time 1% bonus of the amount of your deposit on your Career account which can be withdrawn at anytime.

    Interest is accrued on a monthly basis after the 1st day of the month for the previous month and you can withdraw interest payments each month. The initial amount of your deposit can be withdrawn only at the end of investment period as early termination is not provided.!

    After the period of investing is complete you can withdraw all your funds to your bank account or you can choose an option to re-invest the desired amount.

    If you have any questions, please feel free to reach us anytime. Our team is always happy to explain all the details.

    Kind Regards!
    Anthony S.
    UCG TRUST!
    Support Team
    Last edited by Zoea; 03-10-2017 at 7:51 PM.
    • taylornj
    • By taylornj 3rd Oct 17, 8:02 PM
    • 169 Posts
    • 85 Thanks
    taylornj
    • #3
    • 3rd Oct 17, 8:02 PM
    • #3
    • 3rd Oct 17, 8:02 PM
    No experience with UCG Trust, my first check on p2pindependantforum.com search gives nothing.

    ucgtrust.com - looks to be US based, but part uk. Strange.

    Company House says formed in July 2017, but reading trust pilot people say they have been with them over one year. That doesn't add up.

    Here Ablrate, Collateral, Money Thing have been covered on forums, and Lendy (Savings Stream), all these have rates in 10%-16% range so 11.5% not abnormal or exceptional, just the facts, it seems UCG Trust is rather unknown - not sure how you become a leading player in such a short period.

    The FCA reference doesn't match any company, number is too short.

    UCG Trust doesn't appear on the FCA register.

    Then it's not £133 but $133million on the web site.

    Maybe I'm having a poor search day.

    If looking for P2P, look at the forums here, and on p2pindependantforum.com

    Collateral new loan notice today was for 15%pa, over 4months, no bid limit. Can be traded on the secondary market, but might not be very liquid. Number of other loans available on Ablrate, Collateral, MoneyThing. But suggest read carefully each loan, and get views from p2pindenpendantforum.com first.
    • Zoea
    • By Zoea 3rd Oct 17, 8:05 PM
    • 12 Posts
    • 0 Thanks
    Zoea
    • #4
    • 3rd Oct 17, 8:05 PM
    • #4
    • 3rd Oct 17, 8:05 PM
    Thanks for the very informative reply, but I must admit it's gone a little over my head. Are there p2p lenders out there with 16% *guaranteed* fca return? I would love that!

    What should I check out? I'm not tied in yet...

    thanks again taylornj

    edit: I would not say they are a leading player, they have a fairly small percentage of the market at the moment.
    Last edited by Zoea; 03-10-2017 at 8:09 PM.
    • justme111
    • By justme111 3rd Oct 17, 8:06 PM
    • 2,816 Posts
    • 2,706 Thanks
    justme111
    • #5
    • 3rd Oct 17, 8:06 PM
    • #5
    • 3rd Oct 17, 8:06 PM
    so basically you lend your money to a borrower which is then guaranteed by a company which can disappear/ become insolvent any time taking away their guarantees with it. What does sound as a "real deal" with it ?
    • Zoea
    • By Zoea 3rd Oct 17, 8:08 PM
    • 12 Posts
    • 0 Thanks
    Zoea
    • #6
    • 3rd Oct 17, 8:08 PM
    • #6
    • 3rd Oct 17, 8:08 PM
    so basically you lend your money to a borrower which is then guaranteed by a company which can disappear/ become insolvent any time taking away their guarantees with it. What does sound as a "real deal" with it ?
    Originally posted by justme111
    Well if they are FCA approved that guarantees your money right? We are checking the reference on this point (I have emailed them).

    I would advise with my little experience not to be quite so overly cautious on this one. Check the trustpilot.

    Thanks
    • justme111
    • By justme111 3rd Oct 17, 8:33 PM
    • 2,816 Posts
    • 2,706 Thanks
    justme111
    • #7
    • 3rd Oct 17, 8:33 PM
    • #7
    • 3rd Oct 17, 8:33 PM
    thats ok then - if it has good reviews on trustpilot go and invest then. You asked a question then you started advising people not to be too cautious - thats good then. you asked the question, you then responded to it - what was the point of asking ?
    • Zoea
    • By Zoea 3rd Oct 17, 8:46 PM
    • 12 Posts
    • 0 Thanks
    Zoea
    • #8
    • 3rd Oct 17, 8:46 PM
    • #8
    • 3rd Oct 17, 8:46 PM
    That was not my intention. I am new on these forums and have seen LOTS of good advice. I saved hundreds if not thousands thanks to these forums. I am hoping for some other good info before I invest. I am not endorsing this avenue.

    Cheers.
    • TheShape
    • By TheShape 3rd Oct 17, 8:57 PM
    • 1,044 Posts
    • 802 Thanks
    TheShape
    • #9
    • 3rd Oct 17, 8:57 PM
    • #9
    • 3rd Oct 17, 8:57 PM
    Well if they are FCA approved that guarantees your money right?
    Originally posted by Zoea
    Wrong!!!!!
    • Thrugelmir
    • By Thrugelmir 3rd Oct 17, 10:02 PM
    • 55,520 Posts
    • 48,875 Thanks
    Thrugelmir
    Well if they are FCA approved that guarantees your money right?
    Originally posted by Zoea
    Who is funding the guarantee?
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • Zoea
    • By Zoea 3rd Oct 17, 10:25 PM
    • 12 Posts
    • 0 Thanks
    Zoea
    Apparently they are not incorporated in the UK so no guarantee. Damn!
    • msallen
    • By msallen 4th Oct 17, 7:49 AM
    • 527 Posts
    • 445 Thanks
    msallen
    There would be no guarantee from the FCA even if they were incorporated in the UK.

    There are no guarantees AT ALL from the FCA with p2p. I'm not telling you that to stop you investing (I use a number of p2p platforms) but to indicate that you should know what you're doing before diving head first in there - especially on the back of a handful of anonymous reviews on an unreliable (at best) review site and a guarantee thats not worth the pixels on your screen.
    • Malthusian
    • By Malthusian 4th Oct 17, 9:30 AM
    • 3,034 Posts
    • 4,402 Thanks
    Malthusian
    The fact that they claim that any defaults will be covered by an unnamed third party - "In case a loan is placed into default, UCG TRUST will cover it with other assets – eliminating all the risk to investors" (my emphasis) means it exits the category of Lendy, MoneyThing etc and becomes a get-rich-quick scheme.

    If it looks too good to be true then it is.

    Having great reviews when the company is barely a year old just means they are really quick and efficient at taking your money off you.

    There is no indication of who owns or runs the business and I was tickled by the fact that the business is registered to a PO Box in "Stoney Ground Road" in St Vincent & Grenadines.

    Behold, there went out a sower to sow... And some fell on stony ground, where it had not much earth; and immediately it sprang up, because it had no depth of earth: But when the sun was up, it was scorched; and because it had no root, it withered away.
    by Mark ch 4
    • badger09
    • By badger09 4th Oct 17, 12:29 PM
    • 5,172 Posts
    • 4,368 Thanks
    badger09
    Bargepole anyone?
    • stoozie1
    • By stoozie1 4th Oct 17, 2:38 PM
    • 339 Posts
    • 185 Thanks
    stoozie1
    Above post reported
    • Malthusian
    • By Malthusian 4th Oct 17, 2:46 PM
    • 3,034 Posts
    • 4,402 Thanks
    Malthusian
    And like clockwork the obligatory one-post shill arrives to tell us how great this get-rich-quick scheme is. Armed with all the standard playbook clich!s:

    - interest is paid on time (it's not difficult to take £10,000 off someone and give them £1,200 back, the question is what happens when they want their £10,000)
    - ignorance of basic investing concepts (it's not a "deposit account")
    - FOMO
    - insistence that you're not allowed to comment unless you have direct experience of investing in the get-rich-quick scheme, i.e. experience of the market, understanding of basic economics and logic mean nothing

    And ever higher rises this thread up the Google rankings.
    • Zoea
    • By Zoea 4th Oct 17, 2:48 PM
    • 12 Posts
    • 0 Thanks
    Zoea
    Paul7, thank you for your comment. I can see why it might be suspicious to some as it's your first post, but you explained that. I'm looking for a balanced conversation here - I do need to invest my money somewhere!


    Anyone else with experience is very welcome to post. I've taken a look at p2pindependentforum.com and there are a lot of competitors, but interest rates are only higher on high risk investments (loans) and I am only skimming it but a guarantee seems to be rare.

    thanks
    • Paul7
    • By Paul7 4th Oct 17, 3:12 PM
    • 2 Posts
    • 1 Thanks
    Paul7
    I'm not an expert on financial market and do not need to become him to be able to start investing. Everyone has his own experience and opinion and does not need to convince each other. We all share our experience here, and I described my experience above. Any investment has always been and will be at risk, and there are no players in the financial market who can with an accuracy of 100% assert that there are no risks, and if p2p platforms in particular as Lendy can be considered reliable then forward.
    • Joe_Bloggs
    • By Joe_Bloggs 4th Oct 17, 3:15 PM
    • 4,416 Posts
    • 1,559 Thanks
    Joe_Bloggs
    Paul7 Said:-
    I heard first time about this platform 1.5 years ago from my friend who lives in New-York and who invested through UCGTrust but didn't decide to invest because of superfluous at that time suspicion, but alas, I was wrong. The world has always been divided into optimists and skeptics and who likes some and some others, but let's be pragmatically, no one can give you a guarantee today, and most p2p platforms are clearly warn about it on the websites, but for me for today, except for UCGTrust, no one dared to write at all about any guarantees. Than to entrust my money to the number of borrowers that I have never seen and will not see, I prefer trust my money to this company.
    The above is space filling nonsense. I bet some artificial intelligence bots could do a better job.
    J_B.
    OFT work merger decisions 2012:- MSE too small to be worth financial consideration ?
    • soulsaver
    • By soulsaver 4th Oct 17, 3:30 PM
    • 1,377 Posts
    • 466 Thanks
    soulsaver
    Paul7, thank you for your comment. I can see why it might be suspicious to some as it's your first post, but you explained that. I'm looking for a balanced conversation here - I do need to invest my money somewhere!


    ...it but a guarantee seems to be rare.

    thanks
    Originally posted by Zoea
    Because they tell you there is no guarantee... which is honest.

    Read the comments, hear the alarm bells...
    There are 24 bottles of beer in a crate. There are 24 hours in a day. Coincidence? I think not....
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