London Capital and Finance

Alexland

bail-in wrote: »

For most it is best to stay with protected retail investment products. It is a problem that interest rates are so low.

Even if mainstream interest rates were higher then the mini bonds would just aim even higher to tempt people into their trap.

Alex

masonic

Jelli wrote: »

Sorry I should of said I invested 61k over 3 years. Each investment was between £5000-£10000 and was from savings, some old 5 year bonds that matured (Castle Trust), a few sold items and LCF interest being re-invested. My net assets are zero with a yearly income of 12k.

Only the first question was relevant to me.

Then you fundamentally misunderstood the questionnaire and inadvertently made a false declaration that led to you investing much more than you should have (based on net assets of zero, you should have invested zero). In years two and three you should not have ticked even the first box.

"Restricted Investor: I am not investing more than 10% of my net assets"
What's 10% of zero?

Jelli

As of this minute I'm not posting with solid concentration, but you may be right.

masonic

I'd wager a questionnaire in which you listed your mortgage and other debts, your assets and other investments, broken down by type, and finally your income and investment behaviour, would have led to a very different result.

Jelli

I wonder what that person on Money Box would of selected as he had 30k of mini bonds. Was he a pensioner?

jimjames

Jelli wrote: »

As of this minute I'm not posting with solid concentration, but you may be right.

I'd struggle to answer the questions too so I think it's a fundamental, possibly deliberate question set to get the answer they want.

masonic

Jelli wrote: »

I wonder what that person on Money Box would of selected as he had 30k of mini bonds. Was he a pensioner?

We don't know his financial position. Hopefully he didn't invest more than 10% of his net assets though or he may struggle through the rest of his retirement.

masonic

jimjames wrote: »

I'd struggle to answer the questions too so I think it's a fundamental, possibly deliberate question set to get the answer they want.

It is the FCA mandated wording, which I've seen used by several reputable companies. While I agree it is flawed, as is clear from our recent discussion, this isn't part of LCF's underhand tactics.

dunstonh

Jelli wrote: »

Sorry I should of said I invested 61k over 3 years. Each investment was between £5000-£10000 and was from savings, some old 5 year bonds that matured (Castle Trust), a few sold items and LCF interest being re-invested. My net assets are zero with a yearly income of 12k.

Only the first question was relevant to me.

A number of Castle Trust so-called "bonds" are also incorrectly marketed and believed to have the wrong information on FSCS protection.

sully1311

Jelli wrote: »

Sorry I should of said I invested 61k over 3 years. Each investment was between £5000-£10000 and was from savings, some old 5 year bonds that matured (Castle Trust), a few sold items and LCF interest being re-invested. My net assets are zero with a yearly income of 12k.

Only the first question was relevant to me.

I'm sorry if this sounds rude but what the hell were you thinking investing in something like this on a 12k salary?

That's just delusional IMO.