bfish
Member of DD Central
Posts: 105
Likes: 128
|
Post by bfish on Oct 3, 2017 11:08:30 GMT
Sad to discover (as PP don't seem to have announced it anywhere) that the minimum deposit has been increased from £50 to £250 in one stroke !
Just another 'nail in the coffin' for small investors, I'm afraid.
Oh, the only alternative offered is the 'auto-invest' facility (still allowed @£50 pm), which would guarantee you £10 into 5 different properties.
So much for trying to cut down on administration !?
Alas, small investors who really wish to have a choice will have to look elsewhere.
Anybody got any ideas ?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,789
Likes: 11,010
|
Post by ilmoro on Oct 3, 2017 12:07:44 GMT
Sad to discover (as PP don't seem to have announced it anywhere) that the minimum deposit has been increased from £50 to £250 in one stroke ! Just another 'nail in the coffin' for small investors, I'm afraid. Oh, the only alternative offered is the 'auto-invest' facility (still allowed @£50 pm), which would guarantee you £10 into 5 different properties. So much for trying to cut down on administration !? Alas, small investors who really wish to have a choice will have to look elsewhere. Anybody got any ideas ? Yes, this came as a suprise to me yesterday. Depends on what you are looking for and how much deal flow you are hoping for, define small investor The other two, ignoring PM, I have investments with are Brickowner (£100min) & uOwn (£20min) but neither have much in the way of deal flow. There is also MercyCrowd who I have yet to dip a tow with (min £50), Land Devlop (£100) not looked at. Most of the other platforms require bigger commitments House Crowd, Transcendental, Crowdlords, PropTech, Simple Equity (some lower amounts) etc
|
|
|
Post by wiseclerk on Oct 3, 2017 12:14:27 GMT
If you are ready to invest in Euro you can use Housers They currently have a 50 Euro cashback promo. You get that immediately after you make at least a 50 Euro investment To get the bonus, go through the link on this page www.p2p-banking.com/p2p-lending-cashback-bonus/P.S.: And they currently want to raise money for equity from the crowd through Crowdcube. I looked at the pitch but the valuation asked is too high for my taste
|
|
macq
Member of DD Central
Posts: 1,923
Likes: 1,189
|
Post by macq on Oct 3, 2017 12:20:21 GMT
while its in the equity field some property REITS may have a lower top up amount once invested or even at the start with a fund platform and can be in retail or student living etc
|
|
bfish
Member of DD Central
Posts: 105
Likes: 128
|
Post by bfish on Oct 3, 2017 12:29:03 GMT
Thanks, 'ilmoro' - great food for thought.
I have petitioned PP to reduce their requirement to £100 pm (at least for 3 months), particularly in view of the fact they gave investors NO notice of this change. ATM they say they are 'unable' to do this !!
I would consider a small investor as one being able to put away a min of £100 (even if not every month) - it's just a nice round figure of course.
Thank you too, 'wiseclerk' - but as a 'brexiteer' I'm afraid I would prefer to steer clear of Euros... even though I will continue to consider myself 'European' !
|
|
ding
Member of DD Central
Posts: 238
Likes: 132
|
Post by ding on Oct 3, 2017 12:39:56 GMT
UK chaps can do a bank transfer. I did 30p to see how long it would take PP to notice (next day).
Whats the min withdraw? Could always do the £250 debit card, then withdraw.
|
|
bfish
Member of DD Central
Posts: 105
Likes: 128
|
Post by bfish on Oct 3, 2017 13:18:57 GMT
UK chaps can do a bank transfer. I did 30p to see how long it would take PP to notice (next day). Whats the min withdraw? Could always do the £250 debit card, then withdraw. Good idea, 'ding' - have just checked T & Cs - min withdrawal is still £50... even if it takes a few days !
|
|
beh
Member of DD Central
Posts: 174
Likes: 76
|
Post by beh on Oct 3, 2017 16:34:26 GMT
Similarly was a bit surprised by the increase. £100 would have been understandable perhaps but £250 is a big leap.
They still need a lot more users to join, this isn't very encouraging. Relying on a small number of big accounts will only skew things.
|
|