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london capital and finance
quen2in
Posts: 3 Newbie
I noticed this company offering 8%pa fixed for 3 years/or 5 years.
Does anyone know whether it is genuine? Only Blackmore is offering such a similar return, all the rest are 1.5% to 2%. It seems too good to be true! I can't find a notice about it in MSE either.
Does anyone know whether it is genuine? Only Blackmore is offering such a similar return, all the rest are 1.5% to 2%. It seems too good to be true! I can't find a notice about it in MSE either.
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Comments
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London Capital and Finance comes up regularly. Use the search funcion or read their disclaimer on their web site (my emphasis)
https://www.londoncapitalandfinance.co.uk/disclaimer
LC&F is authorised and regulated by the Financial Conduct Authority, FRN 722603. It should be noted that the bonds offered by LC&F are repaid via loans made to companies and therefore your capital is at risk. Interest payments are not guaranteed if the borrower defaults
Investing in the Bonds carries significant risk and you may lose part or all of your investment
The protections afforded by the Financial Services and Markets Act 2000 including recourse to the Financial Ombudsman Service and compensation entitlements under the Financial Services Compensation Scheme do not apply to the bonds offered0 -
I noticed this company offering 8%pa fixed for 3 years/or 5 years.
Does anyone know whether it is genuine? Only Blackmore is offering such a similar return, all the rest are 1.5% to 2%. It seems too good to be true! I can't find a notice about it in MSE either.
There are probably a dozen or more threads on these boards, just do a search.0 -
I noticed this company offering 8%pa fixed for 3 years/or 5 years.
Does anyone know whether it is genuine? Only Blackmore is offering such a similar return, all the rest are 1.5% to 2%. It seems too good to be true! I can't find a notice about it in MSE either.
These are not fixed term deposits.
They are high risk, 100% capital at risk non-retail investments with no consumer protection.
They are not conventional investments and are not meant to be retailed to consumers in the same way retail investments are and they are certainly not mean to be confused with fixed term deposits.
Maybe you should tell us where you found out about them. A number of us have reported sites where these have been seen as they do have a habit of turning up on unregulated and dodgy sites. Probably as LC&F pay a referral commission through their links.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
These are not fixed term deposits.
They are high risk, 100% capital at risk non-retail investments with no consumer protection.
They are not conventional investments and are not meant to be retailed to consumers in the same way retail investments are and they are certainly not mean to be confused with fixed term deposits.
Maybe you should tell us where you found out about them. A number of us have reported sites where these have been seen as they do have a habit of turning up on unregulated and dodgy sites. Probably as LC&F pay a referral commission through their links.
Like daily and Sunday papers adverts.0 -
Like daily and Sunday papers adverts.
Like DunstonH said, unregulated and dodgy sites.0 -
As to where I found the information from London Capital and Finance, was on a google search for 'best cash ISA rates' namely 'top-isa-rates.co.uk'These are not fixed term deposits.
They are high risk, 100% capital at risk non-retail investments with no consumer protection.
They are not conventional investments and are not meant to be retailed to consumers in the same way retail investments are and they are certainly not mean to be confused with fixed term deposits.
Maybe you should tell us where you found out about them. A number of us have reported sites where these have been seen as they do have a habit of turning up on unregulated and dodgy sites. Probably as LC&F pay a referral commission through their links.0 -
As to where I found the information from London Capital and Finance, was on a google search for 'best cash ISA rates' namely 'top-isa-rates.co.uk'
Well that just shows how careful you need to be.
First of all, if you type that phrase in, the first result you see (from the "top-isa-rates.co.uk" website you mention) says "Ad" to the left of it. So, its an advert, not a "natural" search result.
Second, when you click on that advert, it says "A selection of the current Best Fixed Interest Bonds as rated by our in-house analyst" - nothing about ISAs there at all.
And lastly, you have no idea whatsoever about the provenance of the company who paid Google to show that result . That company whose "in-house analyst", "recommended" that product, no doubt because that is a paid for result as well. (since that product is not at all comparable with the lower interest rate products, they shouldn't be on teh same page).
Googles vetting of that company in terms of "are they qualified to show those results?", would consist of checking they paid their advertising bill.0 -
As to where I found the information from London Capital and Finance, was on a google search for 'best cash ISA rates' namely 'top-isa-rates.co.uk'
As Another Joe says, this site is not a regulated or compliant site. It is just where someone has created a list of providers of different types who pay a referral commission if you use the links.
If you define fraud as giving incorrect information in the attempt to get money, then this site is acting fraudulently. The top link to L&C mispresents what it is. There is no security. They are playing with the language on fixed rate bond making you think it is a fixed term deposit.
The site is not FCA regulated and therefore you can consider it a dodgy site for obtaining info. You need to be more careful when using google.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
As I've noted before this seems to be an area that slips between regulation of different agencies and these companies appear to be making the most of the fact.
If a site claiming to show Top ISA rates is instead showing he products of London Capital which are not ISAs then at best it's misleading even if it's not a scam. LCF don't seem to be that bothered who sells their bonds as this company have been doing so for some time and probably doing very nicely from the commission.
Whoever it is doesn't appear to want to be found...
Domain name:
top-isa-rates.co.uk
Registrant:
Identity Protect Limited
Registrant type:
UK Limited Company, (Company number: 7407280)
Registrant's address:
PO Box 795
Godalming
Surrey
GU7 9GA
United Kingdom
The person registering London Capital Finance is elsewhere
Name: London Capital & Finance Plc
Address: The Old Coach House
Eridge Park
Tunbridge Wells
TN3 9JS
United KingdomRemember the saying: if it looks too good to be true it almost certainly is.0 -
This is a peer to peer lending platform in a different form. Unfortunately I tried to explain the risk of investing in this company to my Father who has just ploughed his full ISA tax allowance into this company for a 8% return 3 year fixed. He doesn't seem to care when I explained that this is not a savings ISA, but a investment scheme and that it's not regulated by the FSA. or protected. Nevertheless, he is supposed to get a interest payment every quarter.0
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