London Capital and Finance

AnotherJoe

{text_removed_by_MSE_Forum_Team} wrote:

This is true. As i am what i consider an average person, i have been listening to programmes like Martins about using comparison sites to get the best deals and to stop banks “ripping us off” (sort of thing) with bad interest rates. I believed the comparison sites...what a twit!

It wasn't a comparison website, it was an advert. If you search now , you'll see the first results have "Ad" to the left of them. For "Advert". This is Internet Basics.
Sometimes they are OK results othertimes they are out and out scams. Google doesn't care they still get paid. Searches right now will return you companies that on the face of it look little different to the LC&F promotions justa different company most likely doing the same thing.

masonic

Reaper wrote: »

I thought it unduly optimistic. Admittedly they had only just started looking at the set up but they seemed to be assuming the loans were genuine business decisions and asset backed. They seemed unaware of the incestuous nature of many of the companies involved.

It was the natural view to take at such an early stage in the process. It is unlikely that Administrators will have been able to collect and review much information about the affairs of LCF just a couple of days into their appointment, let alone gain an understanding of the web of borrowing companies. That they have ascertained that there are just 12 (direct) borrowing companies is good progress (though it may transpire some of these are intermediaries). It suggests that they have already been able to obtain a statement of affairs from the directors.

They will no doubt investigate the loans and borrowing companies in more detail over the next 8 weeks, obtain the loan agreements, security documentation and commence the process of managing these with the borrowers. Some background information and a statement of LCF's estimated financial position can be expected to be disclosed when the Administrators make their proposals at the end of those 8 weeks. Until then, it is unlikely that any substantial information would be released.

The exception to the above will be a definitive answer to FSCS cover, which was not mentioned at all in the interview, but which some bondholders appear to believe might apply, despite the FCA's fairly clear management of expectations.

System

AnotherJoe wrote: »

It wasn't a comparison website, it was an advert. If you search now , you'll see the first results have "Ad" to the left of them. For "Advert". This is Internet Basics.
Sometimes they are OK results othertimes they are out and out scams. Google doesn't care they still get paid. Searches right now will return you companies that on the face of it look little different to the LC&F promotions justa different company most likely doing the same thing.

Have just searched best investment rate again on google. It lists sites and doesnt say “ad”. I opened best investment rates . Co. Uk and again it doesnt say “ad”

AnotherJoe

{text_removed_by_MSE_Forum_Team} wrote:

Have just searched best investment rate again on google. It lists sites and doesnt say “ad”. I opened best investment rates . Co. Uk and again it doesnt say “ad”

You aren't seeing something like this ?

masonic

{text_removed_by_MSE_Forum_Team} wrote:

Have just searched best investment rate again on google. It lists sites and doesnt say “ad”. I opened best investment rates . Co. Uk and again it doesnt say “ad”

That is a very unsafe way to look for the best savings rates! Anyone can set up an advertising site and target it on certain keywords so that it appears on the first page of a Google search. Only ever use comparison sites that you know and trust.

For me, when I use the same search term in incognito mode I get the following results:-
1) MSE's own savings tables
2) Money Supermarket (legitimate site)
3) Money .co .uk (legitimate site)
4) Moneyobserver .com (legitimate site)
5) Telegraph article on savings rates (legitimate site)
6) Money to the masses (affiliate site, but only lists legitimate savings products)
7) Money Facts (legitimate site)
----
then and only then, right at the bottom of the page I see the dodgy best-investment-rates site listing a selection of high risk unregulated investment bonds.

System

Thanks both.
No i am not seeing ad next to it on my ipad (sorry ,dont know how to upload a photo) but I will be super cautious from now on.

Botheredin

{text_removed_by_MSE_Forum_Team} wrote:

Thanks both.
No i am not seeing ad next to it on my ipad (sorry ,dont know how to upload a photo) but I will be super cautious from now on.

All the paid search for the LC&F and other / s that relates to the sites a n other company promoting their services has been taken down. Perhaps coincidence, perhaps not...

masonic

{text_removed_by_MSE_Forum_Team} wrote:

Thanks both.
No i am not seeing ad next to it on my ipad (sorry ,dont know how to upload a photo) but I will be super cautious from now on.

It's possible that because you've previously clicked through to similar questionable sites, Google is returning search results tailored to your previous browsing habits and therefore listing the dodgy ones first.

Botheredin

masonic wrote: »

It's possible that because you've previously clicked through to similar questionable sites, Google is returning search results tailored to your previous browsing habits and therefore listing the dodgy ones first.

Possible but in this case it doesn't seem to quite work like that. The previous search terms can now be searched on any device and the ads relating to top-isa-rate etc etc will not appear. They have been removed by the paying advertiser of those sites apparently.

Jelli

The appointed Administrator might have a conflict of interest with LC&F. I'm not well enough to elaborate or understand it, but maybe someone else can.