Loanmarket Sucks Customer Reviews and Feedback

From Everything.Sucks

The Loan Market Association (LMA) was formed in December 1996 and is based in London, UK. Its initial aim was to assist in the development of the secondary loan market in Europe, which was in its infancy at that time. Its intention was to develop industry best practice and standard documentation. The LMA is active in the primary market as well as the secondary market.

A person said this in a review (Indeed website): "A market that do not support their mortgage brokers franchise network, not providing technology solutions to their customers".


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Kenni Andersen says

"After many years there is now less money in my account than what I inserted. There is a - net return. They make it so complicated and expensive to withdraw money that I have given up for now."

Norbert Daniel Las says

"You don't earn money with bondora. As soon as you stop investing it goes downhill. Spanish and Finnish were always crap but even just with estonian loans and maximum of diversification with 600 small loans you might be lucky to get 0 % out of it. Bondora sees a 5 year old credit, which never paid since 2 and a half years still as 50 % current. That gives you an idea how well constructed bondora is. And if you invest regulary, like bondora recommends you will never see the downwards trend because your new loans will counterbalance the many red and orange ones. Also the amount of loans with "criminal case" in my porfolio is mindblowing. G&G works better as long as new investors keep the snowball system intact as the same trash loans are in the G&G Portfolio. Ohh and don't get me started with the referal system. Bondora will find an excuse (like that using your bank account for tranfering money to your mothers account to fasten the process) do not pay your bonus if you are a weakling like me and actually recommended bondora to some family members - before you knew how bondora actually works. Recommendation to an independent user should be the goal and focus of bondora right? If you are afraid, that your referal system will be abused then just don't offer it. Some statistics which may be of interest for you: An interesting graph from Bondora's statistics page that has been underutilized by investors shows cumulative cash on cash return over time (€100 given out and how much principal + interest has been received back). Each line represents cashflow for a different month where at least 200 loans with 36-month duration were issued. As of today, not a single month has reached 100%. In other words, investors have been losing money with 36-month loans so far. Best result is July 2016, which has reached 97.88% at month 50. Investors who put in €100, have gotten back €97.88 after more than 4 years and probably paid tax on interest as well. Same graph for 60-month loans looks a little bit better. There are two months that have reached above 100%. Nov and Dec of 2014. Nothing to be excited about though. Everything else is below 100%. Many even considerably. April 2015 for example has reached 76% at month 65. Unfortunately no direct link is possible to show you the graphs taken from bondora itself, according to trustpilots guidelines, which limits somewhat the weight of trustpilots reviews."

Richter Gabriela says

"I'm shocked. I have been trying to withdraw my money for over 3 weeks now. The customer service either has no clue or is playing dumm. It seems they are trying to steal my money. They are coming up with ridiculous excuses that my bank doesn't accept the withdrawal, which is a lie. They make zero effort to help me and keep saying the same useless things. Do NOT put your money in Bondora. You will NEVER get it back!!"

George says

"For last couple of weeks your customer service (a particular agent) was asked many (more than five) times to escalate that matter. However they firmly DECLINE for no reason. Excuse me guys, what kind of company you are?"

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