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  • FIRST POST
    • daniel80
    • By daniel80 22nd Oct 15, 6:31 PM
    • 230Posts
    • 48Thanks
    daniel80
    London Capital and Finance
    • #1
    • 22nd Oct 15, 6:31 PM
    London Capital and Finance 22nd Oct 15 at 6:31 PM
    Anyone had any dealing with this company. My son has 25k to invest for only 2 years as it will be a house deposit. Iv`e told him to stay away from the stock market as 2 years is not long enough. As he is not overly keen with saving accounts cash isa`s etc due to low interest rates I said what about premium bonds a gamble on winning but stake is safe only loss would be inflation. When I googled investment ideas a link came up who were called specialist investment ideas with free advice. I put in my details..I received a call about half an hour later the guy recommended the above company which was based in Mayfair. he sounded very posh. He said London Capital and Finance were offering bonds paying 8% the money being lent to various companies to a maximum of 60% of their assist. He seems more of a salesman than an advisor and wants to phone back Monday. Brochure looks ok online but something does not seem right. Anyone dealt with these.

    MSE Insert

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    Last edited by MSE Andrea; 01-09-2016 at 2:14 PM.
Page 32
    • bail-in
    • By bail-in 13th Jan 19, 4:45 PM
    • 116 Posts
    • 38 Thanks
    bail-in
    I wonder what the result would be if FCA enforcement investigated a random sampling of 100 FCA authorised financial SMEs selling unregulated financial investments.

    From what I have gleaned from reading through the notes in the Handbook, the FCA do not visit the company being investigated. Generally it is through correspondence and invitation to interview. Perhaps if there is lack of cooperation they send Johnny English in.
    Last edited by bail-in; 13-01-2019 at 5:14 PM.
    • Jelli
    • By Jelli 13th Jan 19, 5:01 PM
    • 137 Posts
    • 29 Thanks
    Jelli
    Thanks for the link. I've joined.
    • Sledger
    • By Sledger 13th Jan 19, 5:14 PM
    • 45 Posts
    • 11 Thanks
    Sledger
    Re bailins link in post 617.

    https://www.thisismoney.co.uk/money/news/article-1709036/Hetherington-Timeshare-chat-cost-3000.html

    Its historic 8 years ago {Edited by Forum Team}
    Last edited by MSE Tine; 14-01-2019 at 2:04 PM. Reason: {Edited by Forum Team}
    • bail-in
    • By bail-in 14th Jan 19, 6:51 AM
    • 116 Posts
    • 38 Thanks
    bail-in
    Re bailins link in post 617.

    https://www.thisismoney.co.uk/money/news/article-1709036/Hetherington-Timeshare-chat-cost-3000.html

    Its historic 8 years ago but and one person of interest worked for LCF j.murphy@lcaf.co.uk John Russell-Murphy FPC MAQ. This Cornwall keeps entering into the equation and the disqualified . Spencer John Golding alias Goulding, who is described in the court documents as a 'shadow director' of Bavington.
    Originally posted by Sledger
    Note the connection of John Russell-Murphy with Solicitors Regulation Tribunal or SRT suspended solicitor Robert Mannering Sedgwick through the carbon credits scam.

    https://forums.moneysavingexpert.com/showthread.php?p=73985005&highlight=sedgwick+suspe nded+carbon

    This article link below on Celestial Green Ventures carbon credits selling goes some way to explain why the Solicitors Regulation Authority or SRA wanted to remove Robert Mannering Sedgwick from the solicitors' register. It also shows the promotion role of John Russell-Murphy, London Capital and Finance j.murphy@lcaf.co.uk director of Natural Capital Wealth, promoting Celestial Green Ventures.

    https://redd-monitor.org/2016/03/31/irish-tax-office-moves-to-shut-down-celestial-green-ventures/
    Last edited by bail-in; 14-01-2019 at 1:09 PM.
    • robatwork
    • By robatwork 14th Jan 19, 10:36 AM
    • 4,780 Posts
    • 5,393 Thanks
    robatwork
    This thread is getting to be one huge meandering Private Eye "In the Back" article.
    • jimjames
    • By jimjames 14th Jan 19, 1:12 PM
    • 12,958 Posts
    • 11,794 Thanks
    jimjames
    B.J.T. writes: My wife and I were invited by Resolve Marketing to a meeting with Bavington Consultants Limited to chat about selling our timeshare. At the meeting we were told Bavington was an agent for a Manx company, Telos, that was to build a luxury hotel at the Lakeview resort in Cornwall. If we invested in the development, we would later get 3,500 for our unwanted timeshare.
    Originally posted by Sledger
    Not sure if you realised but Lakeview is owned by companies loaned money by LCF as well as Waterside Villages. It really is a tangled web of interconnected people and companies

    https://damn-lies-and-statistics.blogspot.com/2019/01/companies-linked-to-london-capital.html
    Remember the saying: if it looks too good to be true it almost certainly is.
    • bail-in
    • By bail-in 15th Jan 19, 5:52 AM
    • 116 Posts
    • 38 Thanks
    bail-in
    WHAT IS A WHOLESALE LOAN? WHAT IS WHOLESALE LENDING?

    There does not appear to be much info on wholesale lending in online search engines. The following info from the website www.ukpropertyfinance.co.uk, followed by contact info for further details, is helpful to understand a working wholesale lending business which the London Capital and Finance Plc (LCF) appears to be. However, in the case of LCF, rather convoluted, lacking in transparency, not clearly secured, confusing and complicated with directors of lending companies sharing directorships and lending to each other. Oh and a particularly current no no, the fact LCF is currently being investigated, as of 13 December 2018, by the Financial Conduct Authority.

    Also see the following earlier post in this daniel80 thread:
    https://forums.moneysavingexpert.com/showthread.php?p=75295704#574

    --------------------------------.

    https://www.ukpropertyfinance.co.uk/news/wholesale-loans/

    Wholesale Loans

    The subject of wholesale loans is one of on-going debate, with various lenders having entirely opposite views on its overall value. Nevertheless, when wholesale lending is handled responsibly and proactively, it has the potential to offer a variety of unique benefits for both investors and lenders alike. It’s simply a case of identifying the opportunities where they exist and proceeding at all times with due care and attention.

    What Is Wholesale Lending?

    In the simplest of terms, wholesale lending refers to a system of taking the money of investors and passing it on to lenders at special wholesale rates. These lenders then provide loans to borrowers at a variety of levels at normal (or slightly lower than normal) rates of interest.

    In a working example, one wholesale lender could pass capital from any number of investors on to any number of conventional lenders. These lenders would then make this money available in the form of loans for their own customers, earning money in accordance with their own interest rates and other borrowing costs. Likewise, as the money is paid back to the wholesale lender, it is repaid with interest or commission at a previously agreed rate. This in turn amounts to profit for the wholesale lender, who is then able to pay interest to the investors who provided the capital in the first place.

    Why Is Wholesale Lending Deemed Attractive?

    There are two important reasons why wholesale lending is deemed so attractive by so many investors. First of all, it represents a good investment choice with the potential to offer returns that are generally higher than would be expected with any other comparably safe investment. Though returns vary significantly from one case to the next, they are generally considered comparatively generous.

    But perhaps more important still is the way in which wholesale lending is indeed significantly safer than many other comparable types of investment. The reason being that the money is typically secured against the assets and property of the borrower, meaning that the loans are offered in a largely risk-free manner. Even if the loans are not repaid as agreed, the investors are unlikely to lose out.

    As such loans are typically secured on borrowers’ assets, they can be provided to those who would typically be considered too high risk to be offered financial support elsewhere. Which in turn means that the market for these kinds of loans remains uniquely strong and demand robust at all times.

    For more information on anything to do with secured loans, wholesale lending or borrowing in general, get in touch with the UKPropertyFinance.co.uk customer service team.

    For a list of more financial news articles see https://www.ukpropertyfinance.co.uk/news


    UK Property Finance Ltd
    2C, Kibworth Harcourt, Kibworth Business Park, 2 Harborough Rd, Leicester, LE8 0EX
    Freephone: 0800 169 1589
    Telephone: 0116 464 5544
    Email: info@ukpropertyfinance.co.uk
    Website: www.ukpropertyfinance.co.uk

    (The company is a broker not a wholesale lender.)
    Last edited by bail-in; 15-01-2019 at 12:45 PM.
    • Sledger
    • By Sledger 15th Jan 19, 1:14 PM
    • 45 Posts
    • 11 Thanks
    Sledger
    well put Bailin and that's the Wholesale business Model is what I thought I had entered into when I discussed it with John Murphy at the LCF offices. I asked him about the loan site as was concerned if the incoming bond was not matched with loans and sitting idle it would not generate interest. He stated they had brokers on the loan side and there was greater demand for loans than bond money coming in. Should have done more research back then before committing but being FCA regulated I thought they would have done the company homework and verified the business model was as described and as all above board
    • bail-in
    • By bail-in 15th Jan 19, 1:31 PM
    • 116 Posts
    • 38 Thanks
    bail-in
    Hi Sledger, are you certain that John Murphy and John Russell-Murphy are one and the same person?

    Regarding "Should have done more research back then before committing but being FCA regulated I thought they would have done the company homework and verified the business model was as described and as all above board." Neither FCA nor HMRC approve the business models re authorisation or ISA manager status respectively. Re authorisation, LCF were selling the mini-bond before being authorised which I imagine they applied for perceived status.
    Last edited by bail-in; 15-01-2019 at 3:10 PM.
    • Jelli
    • By Jelli 15th Jan 19, 4:08 PM
    • 137 Posts
    • 29 Thanks
    Jelli
    Lending to lenders at wholesale rates, who then lend to real borrowers at higher rates. The loan repayments make their way back to us through that 2-lender chain. Is everything all good now?

    Apart from the horse racing, Ferraris, directors and Liverpool Football Club.
    Last edited by Jelli; 15-01-2019 at 4:15 PM.
    • bail-in
    • By bail-in 15th Jan 19, 4:36 PM
    • 116 Posts
    • 38 Thanks
    bail-in
    Hi Jelli. No, everything is not good now. Read the second half of the first paragraph in post #627 above.
    Last edited by bail-in; 15-01-2019 at 5:20 PM.
    • Jelli
    • By Jelli 15th Jan 19, 4:48 PM
    • 137 Posts
    • 29 Thanks
    Jelli
    Ah, yeah. Oh boy.
    • Sledger
    • By Sledger 15th Jan 19, 5:46 PM
    • 45 Posts
    • 11 Thanks
    Sledger
    Yes bail in the e mail signed off is John Russell-Murphy.

    It appears LCF are still making modifications to their literature. Maybe a good idea to advise who has old hard copies and when you received it and if it has a updated ref I recall going on line and seeing a brochure on the loan end but need to check if I made a PDF of it
    • Jelli
    • By Jelli 15th Jan 19, 8:12 PM
    • 137 Posts
    • 29 Thanks
    Jelli
    I saved a few web pages and PDFs but the save dates are all over the place. Need a way of getting them on the web.

    Old PDFs
    brochure.pdf
    information-memorandum.pdf
    investor_declaration.pdf
    brochure.pdf (2)

    Old web pages
    About LC&F page
    FAQ page
    home page
    key benefits page
    our bonds page
    security page
    Last edited by Jelli; 15-01-2019 at 8:20 PM.
    • masonic
    • By masonic 15th Jan 19, 8:19 PM
    • 10,608 Posts
    • 8,001 Thanks
    masonic
    I saved a few web pages and PDFs but the save dates are all over the place so not in chronology. Need a way of getting them on the web.
    Originally posted by Jelli
    Google drive is a good option. Perhaps set up an account especially for this purpose to keep completely separate from your personal files.
    • Jelli
    • By Jelli 15th Jan 19, 8:21 PM
    • 137 Posts
    • 29 Thanks
    Jelli
    Ah, I already have that! OK, give me an hour or two.
    • jimjames
    • By jimjames 15th Jan 19, 9:06 PM
    • 12,958 Posts
    • 11,794 Thanks
    jimjames
    Ah, I already have that! OK, give me an hour or two.
    Originally posted by Jelli
    If you're happy to share them with any personal info redacted it would be useful to make available to others who are following the blog & Facebook Action group.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Jelli
    • By Jelli 15th Jan 19, 11:34 PM
    • 137 Posts
    • 29 Thanks
    Jelli
    Here you go. I've blanked out my personal info but if you feel images need removing then just let me know. You'll find a mixture of images, PDFs and some emails.

    --------
    my dashboard of 2016-2018 investments (image)
    https://drive.google.com/file/d/18LC4MxoS2ukbqjiJPnN_UpNT8JkV6Liy/view?usp=sharing

    old website - files saved 28 june 2016 (images)
    https://drive.google.com/drive/folders/1wg0zPBIx7rFZgzXZ3b_snB7fCnZEZ-bo?usp=sharing
    --------
    mini bond1 - files saved 28 june 2016 (PDF and image)
    https://drive.google.com/drive/folders/1crYddWXCsi7Ax_lRt86ahaS0U_JqZEUb?usp=sharing

    mini bond2 - files saved 16 dec 2016 (images)
    https://drive.google.com/drive/folders/1bMkw-zUz64tOXoZeVlR0P9ZjIVYpsUP2?usp=sharing

    mini bond3 - files saved 27 june 2017 (PDF and images)
    https://drive.google.com/drive/folders/1xZPWWD7p4uP1RHhwPpCH7CXNcYniLqOR?usp=sharing

    mini bond4 - files saved 26 jan 2018 (PDFs and a short note)
    https://drive.google.com/drive/folders/1G9K8aEDS8MEjo-V6XamXb8z9Mbqikk4V?usp=sharing

    mini bond5 - files saved 26 oct 2018 (PDFs, images and emails)
    https://drive.google.com/drive/folders/1JMbLdxuN0ttIfutoj9-Gdejirq7RIkg1?usp=sharing
    --------
    isa1 - files saved 23 jan 2018 (PDF and images)
    https://drive.google.com/drive/folders/1v0GYASdlxw4tvv4glnsEftQiPKvclPO6?usp=sharing

    isa2 - files saved 8 june 2018 (PDFs and images)
    https://drive.google.com/drive/folders/1t81SlbBHsXlT_EMr76aEQaATry8Vl1Ic?usp=sharing
    --------
    Last edited by Jelli; 16-01-2019 at 3:26 AM.
    • Sledger
    • By Sledger 16th Jan 19, 9:33 AM
    • 45 Posts
    • 11 Thanks
    Sledger
    This is a old post just appaered on the LCF bondholders ( Independent Oil & Gas clarifies position as FCA investigates LCF) and not sure if anybody here has seen it as I cant recall it being posted .
    I am not that computer savvy so not sure if this link works so have posted the article . Note LOC buffer link with LCF

    https%3A%2F%2Fuk.webfg.com%2Fnews%2Faim-bulletin%2Findependent-oil-gas-clarifies-position-as-fca-investigates-lc

    The AIM-traded firm said there was no direct relationship between LCF and itself.
    It reported that the FCA had required that LCF not - without the prior consent of the FCA) - deal in any way with its assets, and needed to cease conducting all regulated activity.
    “Independent Oil & Gas wishes to clarify that LCF is not a shareholder in Independent’s primary financial backer, London Oil & Gas (LOG),” the Independent board said in its statement.
    “LOG is a borrower from LCF and LOG is also a lender to IOG amongst other companies.”
    Under the total of 38.55m loan facility agreements signed between Independent and LOG between December 2015 and September 2018, sums owed by IOG to LOG are only repayable within 36 months of their drawdown, and there was no mechanism under which LOG could demand early repayment save in an event of default by the company.
    Independent said it had to date drawn a total of 30.7m under the LOG facilities, of which 0.7m was held in cash and 3.05m was due to be repaid in the next six months.
    The firm said it currently had further availability under the LOG facilities of 7.85m.
    LOG had reportedly re-confirmed to Independent on Friday that all sums agreed to be lent remained available, and LOG had not received any call on any of its funds from LCF.
    “The company is monitoring the situation with regard to LCF and LOG carefully and continues to progress its current forward funding plans as per its 29 November 2018 announcement,” the board added.
    • Sledger
    • By Sledger 16th Jan 19, 9:35 AM
    • 45 Posts
    • 11 Thanks
    Sledger
    when the FCA froze assets anybody got a idea as to the extent of this ie was LOC and other LCF buffer companies frozen
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