8% fixed rate 3 years? Is this real?

Sam_J12

Dawn_flower wrote: »

Thank you so much, I thought I was going to lose all my retirement lump sum which I can never replace. They just telephoned me offering help to complete the transaction. I think I prefer a safe investment with less interest.

Lucky escape. Phew! :-)

Be careful with that £25k now!

Dawn_flower

Thank you so much, I e-mailed them to cancel, and they telephoned offering help to complete the transactio. I cannot afford to lose my retirement lump sum because I can never replace it. I shall be more vigilant from now on. I prefer a safe LUNCH to an unsafe promise of a BANQUET. Thanks again.

Dawn_flower

Following my email to cancel the investment, this is the reply given by London Capital & Finance:-

Just to confirm however, London Capital and Finance are regulated by the FCA reg no: 651992. Your funds are protected by the FSCS up to the value of £50,000 whilst they are held with our secure custodian, once your funds are lent out then your bond funds are protected for their full value by our asset backed scheme and this is managed by an independent trustee to ensure that your funds are protected up to 100% at all times.

Is there a catch? I cannot see it, but again it seems too good to be true.

talexuser

Did you read post 19?

jimjames

Dawn_Flower wrote: »

Is there a catch? I cannot see it, but again it seems too good to be true.

You might want to quote their website to them:

LC&F does not offer financial advice. However, it should be noted that the bonds offered by LC&F are repaid via loans made to companies and therefore your capital may be at risk. Interest payments are not guaranteed if the borrower defaults. Investing in LC&F’s bonds is speculative and involves a significant degree of risk.

Dawn_flower

Yes I did read it and I quoted it in my cancellation. I thank you for all your help. I could have made a terrible mistake. I've never had this amount to invest before and I really don't know what to do for the best. But I do know that it is definitely going into a safe account.

Eco_Miser

Dawn_flower wrote: »

I've never had this amount to invest before and I really don't know what to do for the best. But I do know that it is definitely going into a safe account.

Not to discourage you from investing in nice safe funds within an S&S ISA (£15k now, the rest after 6 April ), but you can earn better than 3% AER in bank accounts, see this list and numerous threads here and in Budgeting and Bank Accounts discussing required funding and Direct Debits.

robber2

Pincher wrote: »

If you want 8% return, check out Shell.


At the new low of £14.69 a share, IF they pay dividend at 114.16p a share, like last year, it's


7.77% = 114.16 / 1469.


Which is more likely to fold on you? LCF or RDSB?

Interesting to note that since the time of this posting (less than one month ago) the value of any shares you did buy in SHELL has actually dropped by 8% :eek:

jimjames

robber2 wrote: »

Interesting to note that since the time of this posting (less than one month ago) the value of any shares you did buy in SHELL has actually dropped by 8% :eek:

That's still 92% higher than the likely amount you'd get from an unregulated investment where 100% capital loss is possible

robber2

jimjames wrote: »

That's still 92% higher than the likely amount you'd get from an unregulated investment where 100% capital loss is possible

Have to agreed with you there :-)