London Capital and Finance

pienbeans

jimjames wrote: »

That is clearly quite untrue. If you were part way through an application and got a phone call asking if you needed help then they obviously CAN see your details regardless of what they claim!


If you don't want to lose your pension lump sum then this is 100% not the right investment for you. Regardless of what they may claim over the phone this investment (not savings bond) has the risk of losing ALL your money. If you want to invest your pension lump sum then using mainstream regulated investments would be a far more sensible option.

As a first time poster, although not new to the site, thanks for your help and advice.
I will certainly not be investing my lump sum with this company.

pienbeans

Thanks to everyone who replied to my question in a positive way. I am not new to forums in other subject matters and I'm aware that Newbies sometimes ask for help when it is staring them in the face but I try to be positive when offering help.

At least I may have done something useful by getting the thread back on to Page 1 and stop someone else from throwing their pension lump sum down the drain.

Thanks again!

jimjames

pienbeans wrote: »

Thanks to everyone who replied to my question in a positive way. I am not new to forums in other subject matters and I'm aware that Newbies sometimes ask for help when it is staring them in the face but I try to be positive when offering help.

At least I may have done something useful by getting the thread back on to Page 1 and stop someone else from throwing their pension lump sum down the drain.

Thanks again!

Glad it was of use and you weren't searching after you put your money in! If you have any questions about what to do with the lump sum from your pension it may be worth starting a new thread with a few details and people may be able to give some ideas for things to look into as well as things to avoid like this one

Malthusian

pienbeans wrote: »

I was part way through the application and received phone call asking if I needed help as has been stated in previous posts.

Ultra high risk unregulated bonds are well known for their exceptionally friendly customer service towards people who want to hand them a large sum of money, but getting a phone call when you are part of the way through an online application is frankly downright creepy.

Even if I was a novice investor who didn't understand the distinction between FSCS-protected deposit bonds and 100%-at-risk loan notes, that would be enough to set alarm bells ringing.

dunstonh

pienbeans wrote: »

I have had a lot of great advice through reading the MSE forums and this was my first time venturing into investments of this kind, tempted by the 8% headline.

Being very unsure, I looked to the forum for some advice and posted in good faith. Hopefully you didn't receive such a patronising reply to the first of your 95,200 posts.

There were seven pages of posts saying don't do it. Yet you posted asking if you should do it.

You may have found the response patronising but think about all the people that have spent their time posting on this thread (and others) who you just ignored and asked the same question all over again. The answers are not going to change from those already given.

robatwork

Ah the LC&F thread. We've all got that "friend" we made many years ago who we couldn't shake off for a while, who then faded away and we forgot about, thankfully. Then they show up and you're reminded of why you detested them in the first place.

And to pienbeans you deserved some gentle patronising, in post 241 you've clearly asked for advice. Advice isn't something you will ever get on a public forum - it comes with a legal duty of care. You'll get opinions, most of which on this thread are blindingly obvious.

EachPenny

holeydel wrote: »

hi forum, another newbie here - sorry about that.

Some interesting reads in the last few posts. I thought i'd share my experience so far with lcf as it may add new perspective to this thread. I think lcf are alright and currently have 2 5k investments with them. A one year 3.9% opened last january and an 8% 3 year isa with interest paid quarterly. I was attracted to the company for two reasons, its simplicity and the companies ratings and reviews based on a feefo, a third party site.

I thought i'd try them out so played it 'safe' with their one year plan, but soon found myself with another 5k to put somewhere so i 'risked' the 3 year plan. At the mo i can't say anything about the 1 year plan as it won't pay out until early next year but i can say the 3 year plan is paying me £100 direct into my current account every 3 months.

i'm not particularly clued up with finance and know nothing about stocks and shares. My attitude is to continue to put any spare cash i have into some sort of investment plan as keeping them with the banks isn't very beneficial. I view lcf as a basket where i can put an egg or two before seeing what else is out there, such as other p2p lending sites (not ideal in a theoretical point of view but as i mentioned, until i learn more about bonds, portfolio's etc it's the best option i've come across). I'm guessing for those who have a better than average knowledge of investing, i'm being daft and wreckless. For those still searching high street banks for the best isa rates, my post probably comes across as a viable option for making better use of their savings. Either way, i hope some of this helps.

3..... 2..... 1......

masonic

Holeydel wrote: »

I'm not particularly clued up with finance

That can be easily remedied with just a few hours reading.

I'm guessing for those who have a better than average knowledge of investing, I'm being daft and wreckless.

No doubt when you've looked around and seen what else is out there, you'll come to the same conclusion.

For those still searching high street banks for the best ISA rates, my post probably comes across as a viable option for making better use of their savings.

Let's hope not.

Alexland

But none of the above gives anyone a quantifiable view of the risk. It is completely unsuitable for retail investors and as you say experienced investors would avoid it. If you are a real customer, which I doubt, I don't think the above helps at all.

Holeydel

Alexland wrote: »

But none of the above gives anyone a quantifiable view of the risk. It is completely unsuitable for retail investors and as you say experienced investors would avoid it. If you are a real customer, which I doubt, I don't think the above helps at all.

Maybe it doesn't help, it is solely my point of view and I'm neither praising LCF or suggesting people should avoid LCF. I simply decided to wrote as perspective from an average joe who's put funds into the company. At the moment it's been beneficial. Come January it might be a disaster. This is a risk I've chosen to take, which seems to be the deal when it comes to investing of any nature.