Blackmore Bonds are a similar investment to London Capital & Finance paying high rates of interest on mini bonds that they have sold as well as paying 20% commission to Surge Financial for managing the administration of the bonds. They have recently revamped their website to make warnings much clearer and showing that 20% fees are paid from your capital.
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| Blackmore bonds risk warnings |
They claimed in a statement that
"the first bond maturity is in 2020 and that all interest payments have been made on time"
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| Blackmore Bond Capital Repayment Dates - When are they due? |
With their new found transparency on their website and much clearer risk warnings I suspect that their inflow of new funds might dry up quite quickly
Please note that as with any investment your capital is at risk and the risk mitigation scheme does not guarantee a return of capital and interest. The key limitations to this policy are as follows:
- The legal charge over the assets of Blackmore Bond may be insufficient to cover repayments to bond holders. Even though an independent Security Trustee this will not guarantee a return
- The Capital Protection Scheme has the following limitations:
- Should Blackmore fail to pay premiums this would result in the policy falling away.
- Should Blackmore fail to make notification to the insurer in a timely manner this may cause the policy to be invalidated.
- The ultimate underwriter may become insolvent at the time of or before a claim meaning that they would not be able to pay out on the policy.
Has Blackmore ever offered 1 year bonds? I thought their minimum term has never been fewer than 3 years, and when they first launched in 2017 it was 4 years, so the date of late 2020 makes sense.
ReplyDeleteYes, you're correct. The investor who thought it was this year has checked again and found that they aren't due repayment until 2020. I've amended the text above to take this into account
DeleteBlackmore still have not paid me my interest. Patrick Mc Creesh firstly said it was a clerical error. I was promised in an email form Mr Mc Creesh Director that my interest would be paid by close of business Monday 12th. He wrote and said because my Isa was issue 4 I was in the final 20% to be paid. Well it is now Tuesday 1.00pm and after numerous emails and phone calls to recorded messages I STILL HAVE NOT BEEN PAID MY QUARTERLY INTEREST. PATRICK MC CREESH HAS NOT EVEN BOTHERED RETURNING MY CALLS IR REPLYING TO MY EMAILS.
ReplyDelete