Blackmore Bond

Brown_Bear

masonic wrote: »

Some of the sites I've seen just ask for your contact details so one of their specialists can get in touch.

Yes - i've seen that too!
Very suspicious.
I'd never go near a company that was so lacking in transparency.

jimjames

Brown_Bear wrote: »

But doesn't clicking such a link lead you to the main Blackmore website - where the warnings are clear?

I'd say the warnings aren't clear that 20% of your money is being handed over to another company initially. It may mention risk but also then mentioned lots of things that claim to negate that risk.

sully1311

They must be getting very twitchy after LC&F and their questionable methods. Even in the disclaimer they’ve now stated “Up to twenty percent of your money will go towards paying for the cost of raising capital & the overheads of Blackmore & adds to the risk of capital not being returned.”

Commission money basically.

Brown_Bear

sully1311 wrote: »

They must be getting very twitchy after LC&F and their questionable methods. Even in the disclaimer they’ve now stated “Up to twenty percent of your money will go towards paying for the cost of raising capital & the overheads of Blackmore & adds to the risk of capital not being returned.”

Commission money basically.

Would companies such as LCF and Blackmore be considered part of the ''shadow banking'' sector?
Presumably the companies they lend to can't access regular bank loans - for whatever reason?

jimjames

jimjames wrote: »

I'd say the warnings aren't clear that 20% of your money is being handed over to another company initially. It may mention risk but also then mentioned lots of things that claim to negate that risk.

The warnings have been amended and are now very clear that up to 20% of your money is given as commission

https://bondreview.co.uk/2019/03/01/blackmore-leaps-into-new-era-of-transparency-by-declaring-up-to-20-commissions/

AnotherJoe

Who believes what Blackmore are saying here?
https://www.telegraph.co.uk/investing/bonds/mini-bond-firm-promoted-london-capital-backer-delays-filing/
"evrythings fine nothing to see here move along"
Mark your diaries for September and be prepared fir another delay.
FCA needs to outlaw this "one day delay" loophole

sully1311

The beginning of the end

Alexland

Blackmore Bonds appear to have missed an interest payment and are blaming bank delays while a customer claims they have gone non-responsive.

Sorry article behind a paywall but you can read a few paragraphs.

https://www.telegraph.co.uk/investing/bonds/mini-bond-firm-backed-london-capital-finance-promoter-fails/

masonic

Perhaps the FCA has finally stepped in and placed restrictions on them. Sounds very similar to the final days of Lendy.

sully1311

Another site has the story paywall-free

https://www.moneymarketing.co.uk/mini-bond-provider-linked-to-collapsed-lcf-late-paying-interest/