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Post by stuartassetzcapital on Sept 27, 2018 16:26:20 GMT
Think you'll find that belongs to an oil company. There's also another P2P property company called Assetz Exchange, formerly London & Eastern Property t/a AE/thepropertyindex or have you bought them? Edit site defunct That is us. We ran it under a different name till launch to keep it undercover...
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Post by stuartassetzcapital on Sept 27, 2018 16:28:09 GMT
Why has PP survived and PM not? Is it that the Assetz property model is the same as PM? I got these emails so I must have signed up... PM being property moose ? and PP being Property Partner ? No-one else uses our AEX model of loans. AP is Assetz Property and is the large buy to let estate agency and ours.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 27, 2018 17:31:58 GMT
Think you'll find that belongs to an oil company. There's also another P2P property company called Assetz Exchange, formerly London & Eastern Property t/a AE/thepropertyindex or have you bought them? Edit site defunct That is us. We ran it under a different name till launch to keep it undercover... Sneaky. Guess the clue was when it moved to your HO a month ago. So that means full P2P lending authorisation and IFISA manager status from launch.
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Post by stuartassetzcapital on Sept 27, 2018 17:38:10 GMT
That is us. We ran it under a different name till launch to keep it undercover... Sneaky. Guess the clue was when it moved to your HO a month ago. So that means for P2P lending authorisation and IFISA manager status from launch. Yes FCA, P2P lending and HMRC ISA permissions all in place
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Post by Ace on Sept 27, 2018 19:11:54 GMT
Sneaky. Guess the clue was when it moved to your HO a month ago. So that means for P2P lending authorisation and IFISA manager status from launch. Yes FCA, P2P lending and HMRC ISA permissions all in place stuartassetzcapital, I expect that the answer is no, but just in case, is there any chance that a current years IFISA allowance could be split between Assetz Capital and Assetz Exchange?
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zlb
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Post by zlb on Sept 27, 2018 19:22:51 GMT
Hi everyone. Yes this is a loan based solution so you are funding an SPV to buy property as a 100% loan and with exposure therefore to price gains and losses through a particular loan agreement structure. All net rental passes through as loan interest to be paid. We have full tax advice yes. It will be initially focusing on acquiring existing landlord held property - so often already tenanted - and then renting for a period, say 5 years, and then selling. Some property will be held long term as only rental income generating and the aftermarket would be the optional exit if required meaning people can invest for income alone. So it won't be competing with first time buyers etc. In fact we will also be offering to fund new property construction and then holding it for rent and also selling some off over time - so bringing new housing stock into the market. And yes there is no reason Exchange couldn't offer to buy some stock from developers if their Assetz Capital development loan was reaching an end and there was some stock unsold. The choice to rent or sell will be up to the investors but we will be providing feedback on market conditions and demand for renting and selling so that the property can be directed in the direction of local demand. So there will be more property on the market to rent or buy in the future as a result of Assetz Exchange , not less or the same. We will be part of the solution to housing crisis, not adding to the problem - to answer someone's point. property.assetz.co.uk/exchange/ Hope that helps Stuart could you clarify the tax class it's in? Eg PP is constructed so that it's classed as dividend and CG, and for my purposes as a small fry investor in this realm I wouldn't pay tax. I would have to pay tax of it were classed as income from savings, and I'm already maxed out on ISA.
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Post by markaldrich on Sept 27, 2018 21:12:33 GMT
Interesting to see this as had looked at other schemes but looked to small. With Assetz behind it I will probably dip my toe in the water
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Post by sayyestocress on Sept 27, 2018 22:30:44 GMT
Yes FCA, P2P lending and HMRC ISA permissions all in place stuartassetzcapital , I expect that the answer is no, but just in case, is there any chance that a current years IFISA allowance could be split between Assetz Capital and Assetz Exchange? That would make it a lot more attractive. I know Ford Money's ISAs are 'portfolio' ISAs, i.e. you can put new money into any of their different offerings in a tax year. So not beyond the realm of possibility.
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Mike
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Post by Mike on Sept 28, 2018 7:29:31 GMT
No-one else uses our AEX model of loans. Crowd2Let uses a loan-to-SPV model too, presumably similar - in the AEX model, do investors own equity and lend to their own co.? This kind of investment where the initial outlay is repaid before any taxable return makes the ISA less-needed Very pleased to hear that you will be doing similarly, the dividend structure of some other platforms is simply absurd.
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Post by stuartassetzcapital on Sept 28, 2018 9:44:05 GMT
Crowd2Let is an equity model it seems.
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Mike
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Post by Mike on Sept 28, 2018 10:00:39 GMT
Crowd2Let is an equity model it seems. Yes C2L is equity; but with shareholders loaning the cash interest-free to the SPV to buy the property. This loan is then repaid to shareholders in monthly instalments as the SPV collects rent. When the property is sold and the company liquidated the total net return is paid in one go (along with the remainder of the debt) and likely to be a capital gain. The crowd2let structure is almost impossible to find on their website, they discuss the underlying structure here www.investitin.com/crowd2let/ under "What fees and expenses are deducted from the property rental before it is paid as a dividend to the investor?" and I can confirm this is indeed how it works. So in this AEX case, we loan at non-zero interest to an SPV that we have no ownership of? Hmm. That means I pay big tax on the interest even if the property sells for 30% less than it was bought for and the result is a net loss. And it means income tax on interest..?
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sl75
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Post by sl75 on Sept 28, 2018 13:53:09 GMT
Presumably this also explains why even seemingly straightforward adjustments to the current platform were taking an eternity to get done, as the team's attention was divided into getting a whole new platform implemented to run alongside it?
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Post by stuartassetzcapital on Sept 28, 2018 16:05:02 GMT
No, entirely different team.
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Post by stuartassetzcapital on Sept 28, 2018 16:10:21 GMT
Crowd2Let is an equity model it seems. Yes C2L is equity; but with shareholders loaning the cash interest-free to the SPV to buy the property. This loan is then repaid to shareholders in monthly instalments as the SPV collects rent. When the property is sold and the company liquidated the total net return is paid in one go (along with the remainder of the debt) and likely to be a capital gain. The crowd2let structure is almost impossible to find on their website, they discuss the underlying structure here www.investitin.com/crowd2let/ under "What fees and expenses are deducted from the property rental before it is paid as a dividend to the investor?" and I can confirm this is indeed how it works. So in this AEX case, we loan at non-zero interest to an SPV that we have no ownership of? Hmm. That means I pay big tax on the interest even if the property sells for 30% less than it was bought for and the result is a net loss. And it means income tax on interest..? Hi, the SPVs will indeed be under the sole control of the lending syndicate members. Also, in your example the 30% loss would be a capital loss to write off 100% against income under peer to peer lending tax rules as I understand it.
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Post by dan1 on Sept 28, 2018 17:18:02 GMT
Yes C2L is equity; but with shareholders loaning the cash interest-free to the SPV to buy the property. This loan is then repaid to shareholders in monthly instalments as the SPV collects rent. When the property is sold and the company liquidated the total net return is paid in one go (along with the remainder of the debt) and likely to be a capital gain. The crowd2let structure is almost impossible to find on their website, they discuss the underlying structure here www.investitin.com/crowd2let/ under "What fees and expenses are deducted from the property rental before it is paid as a dividend to the investor?" and I can confirm this is indeed how it works. So in this AEX case, we loan at non-zero interest to an SPV that we have no ownership of? Hmm. That means I pay big tax on the interest even if the property sells for 30% less than it was bought for and the result is a net loss. And it means income tax on interest..? Hi, the SPVs will indeed be under the sole control of the lending syndicate members. Also, in your example the 30% loss would be a capital loss to write off 100% against income under peer to peer lending tax rules as I understand it. Ooooo..... dangerously close to tax advice, no?
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