Basset & Gold 9% 5 year compounding bond review
Basset and Gold are offering a bewildering array of different rate bonds but the common factor on all of them is that your money is at risk and you could lose ALL your money with them.
These are some really important points about the Basset Gold 9% bonds
Basset & Gold that you are buying a 5 year bond with was only registered with companies house on 24th July 2017. So it would seem brave in the extreme to put money into a 5 year bond with a company that didn’t exist 11 months ago.
How can you guarantee that the company will be there to repay your money in 5 years time when they weren't in existence a year ago? It's hardly a stable long term company!
It seems a bit strange that B&G chose to withdraw its directors' register information from the public register in May this year. May be legitimate but it seems very strange.
If you think that these sort of companies are safe and FSCS protected - think again. There are other similar companies that have gone bust after a couple of years leaving investors out of pocket. There is a reason they are paying high levels of return - it's because there is so much risk you are taking.
They have not even managed to calculate the compounded return correctly. 9.01% compounded on £5000 for 5 years gives you £2728 not £2,252. What they have calculated is the non compounded return.
Someone has suggested that as the interest is fixed but your capital is not B&G are perfectly at will to pay you back the £2525 from the £5000 you invest and pocket all your capital - I.e you make a £2475 loss. I cannot see any reason why they would chose to pay you back your capital as I can see nothing here that says they need to.
These are some really important points about the Basset Gold 9% bonds
Basset & Gold that you are buying a 5 year bond with was only registered with companies house on 24th July 2017. So it would seem brave in the extreme to put money into a 5 year bond with a company that didn’t exist 11 months ago.
How can you guarantee that the company will be there to repay your money in 5 years time when they weren't in existence a year ago? It's hardly a stable long term company!
It seems a bit strange that B&G chose to withdraw its directors' register information from the public register in May this year. May be legitimate but it seems very strange.
If you think that these sort of companies are safe and FSCS protected - think again. There are other similar companies that have gone bust after a couple of years leaving investors out of pocket. There is a reason they are paying high levels of return - it's because there is so much risk you are taking.
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| Basset & Gold 9% 5 year compounding bond review |
They have not even managed to calculate the compounded return correctly. 9.01% compounded on £5000 for 5 years gives you £2728 not £2,252. What they have calculated is the non compounded return.
Someone has suggested that as the interest is fixed but your capital is not B&G are perfectly at will to pay you back the £2525 from the £5000 you invest and pocket all your capital - I.e you make a £2475 loss. I cannot see any reason why they would chose to pay you back your capital as I can see nothing here that says they need to.
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