Latest platform update

I’d like to wish you a Happy New Year from all of us at Octopus.

Here’s the latest update on Octopus Choice, this month addressing our progress on returning money to investors, an update on investment performance and a reminder of how to automate monthly cash withdrawals or make an ISA transfer.

Returning Invested Money

Borrowers continue to repay loans to Choice investors, returning £12m in November, £11m in December and, so far, £2m this month. In total, since Choice suspended investment trading and lending last March, over £70m of money invested into Choice has been returned to investors. This is more than 25% of the total money invested at that time.

We have also been exploring alternative ways to return more money to investors, without waiting for each borrower to repay their loan. As soon as we have any confirmed steps, I will be in contact with you to provide further details.

Investment Performance

I’ve previously written about payment holidays, which were initially made available last March in line with government legislation and FCA guidance.

108 Choice borrowers took a payment holiday, mostly for three months. We have worked hard with each borrower to recover the outstanding interest and as of today, 47 have fully caught up their payments (a total of £650,000 in interest due to Choice investors) while 37 are in the process of catching up. Only two borrowers have an ongoing payment holiday.

As soon as borrowers in your portfolio restart interest payments following a payment holiday, you will start receiving corresponding interest payments.

Bank details and ISA holdings

Providing we have your up-to-date bank details, we can automatically pay all available cash each month to your bank account.

You can view and edit your bank details by navigating to ‘My Account’, followed by ‘Your Account’ (this can be found at the top right of the page).

Please note that if held within an ISA, once funds are paid out, they will be deemed to have left the ISA wrapper. You can initiate an ISA transfer to another ISA provider at any time. To do so, please contact your chosen ISA provider who will outline the necessary steps (we cannot initiate an ISA transfer, the instruction needs to come from your chosen ISA provider).

You can find more information on our website, including answers to Choice FAQs. If you have any queries regarding payments or statements, please get in touch with us at support@octopusinvestments.com

Best regards,

Charlie Taylor

Charlie.Taylor@octopusinvestments.com

Some risks to keep in mind

  • The value of an investment, and any income from it, can fall or rise. Investors may not get back the full amount they invest.
  • Money invested through Octopus Choice is concentrated in loans backed by property. If a property needs to be sold, the amount recovered could be affected by a downturn in the property market.
IMPORTANT INFORMATION: Octopus Choice investments are not suitable for everyone. We do not offer investment or tax advice. Personal opinions may change and should not be seen as advice or a recommendation. We record telephone calls. Issued by Octopus Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 33 Holborn, London EC1N 2HT. Registered in England and Wales No. 03942880. Octopus Choice is offered by Octopus Co-Lend Limited, which is fully authorised and regulated by the Financial Conduct Authority. Issued: June 2020. CAM009867.

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