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Saving Stream

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Has anyone else come across this ?

12% interest looks way too good to be true.

I AM NOT RECOMMENDING THIS BY THE WAY

Sorry I cannot post the links

Comments

  • jimjames
    jimjames Posts: 18,605 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    12% for what? If it is unregulated then they can pretty much say what they want and none of it may be true.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    They seem to be a P2P company, but as the OP says, 12% interest looks way too good to be true. Don't go there.
  • mikb
    mikb Posts: 629 Forumite
    Part of the Furniture 500 Posts Name Dropper
    For pros and cons, read through all this...

    http://p2pindependentforum.com/board/58/saving-stream

    especially ...

    http://p2pindependentforum.com/thread/167/yacht-vehicle-p2p-pawn-broking

    A bit of a bumpy start, some issues around using fake testimonials/pictures of "typical lenders" that weren't lenders, pictures of "example" assets etc.

    Most of that sort of stuff quickly exposed and complained about by lenders/potential lenders, now seems to be more under control - I think it was over-eagerness to get things up and looking professional caused some regrettable corner cutting.

    It's not unregulated, it's P2P, so has to be regulated by the FCA.

    Fortunately the, umm, indiscretions were pre regulation.
  • bayzat
    bayzat Posts: 38 Forumite
    This looks very risky, it is definitely hard to get comfortable putting your money in something like this,
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