ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
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Post by ilmoro on Apr 11, 2019 15:08:15 GMT
Never going to happen on a non-restricted platform. Enough concerns from FCA with current risk profile and then there are the tax implications of loss relief on recovery loan purchases. What if it were to be only purchasable through an ISA? Although.... Im sure no sane human would buy more of that NUL loan, however reduced! Doesn't address the ability to assess risk concerns that FCA has regards restricted/retail investors. Tax side is merely an additional complication though again how many retail investors would understand it
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nw99
Posts: 340
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Post by nw99 on Apr 11, 2019 15:43:09 GMT
Please add defaulted loans Money Thing please
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robski
Member of DD Central
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Post by robski on Apr 11, 2019 15:51:44 GMT
Looks very slick, how long till we get the premiums added. Surely its just tweaking the tables to allow 75-125% (for example) as opposed to 75-100%?
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robski
Member of DD Central
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Post by robski on Apr 11, 2019 15:57:46 GMT
Actually got a question.
How does it work if two people are trying to buy at the same time. Lets say £100 is listed in a loan at 95%, two people go yet will take that. Click invest, do you get to specify the rate or have a confirmation or anything, or could you try to buy £100 at 95% and find out your bought £100 at par because you were slightly slower?
Anyone know?
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locutus
Member of DD Central
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Post by locutus on Apr 11, 2019 15:59:10 GMT
Looks very slick, how long till we get the premiums added. Surely its just tweaking the tables to allow 75-125% (for example) as opposed to 75-100%? The challenge isn't a technical one. As the great Jeff Goldblum says “Your scientists were so preoccupied with whether or not they could, they didn’t stop to think if they should.”
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Post by Ace on Apr 11, 2019 15:59:33 GMT
Actually got a question. How does it work if two people are trying to buy at the same time. Lets say £100 is listed in a loan at 95%, two people go yet will take that. Click invest, do you get to specify the rate or have a confirmation or anything, or could you try to buy £100 at 95% and find out your bought £100 at par because you were slightly slower? Anyone know? You specify the discount you want and the purchase gets rejected if no longer available.
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robski
Member of DD Central
Posts: 772
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Post by robski on Apr 11, 2019 16:04:45 GMT
Actually got a question. How does it work if two people are trying to buy at the same time. Lets say £100 is listed in a loan at 95%, two people go yet will take that. Click invest, do you get to specify the rate or have a confirmation or anything, or could you try to buy £100 at 95% and find out your bought £100 at par because you were slightly slower? Anyone know? You specify the discount you want and the purchase gets rejected if no longer available. Thanks, as I hadn't got any cash unspent I couldn't see that part taking effect, it was nagging me to send some money
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jo
Member of DD Central
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Post by jo on Apr 11, 2019 17:34:03 GMT
Like! Well done MoneyThing - now convince your industry peers to get on board. (ps my crusade to have this option also available for defaulted loans will continue! ). Never going to happen on a non-restricted platform. Enough concerns from FCA with current risk profile and then there are the tax implications of loss relief on recovery loan purchases. It will, eventually. Every loan whether current/late/non-performing/defaulted has only two outcomes: it repays at par, or it repays below par...all the way down to zero. In theory buying at a discount, arrived at via free price discovery, equalises the risk at the point of purchase.
So if they let us buy new loans at par, then........
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Post by Badly Drawn Stickman on Apr 11, 2019 20:04:02 GMT
I notice as a bonus we now have a 'Internal rate of return' displayed. I'm always happy to have extra information, but am curious as to how this is arrived at.
With technological leaps now obviously easy, any chance that a simple repayment date feature might turn up on loans?
System seems to work well enough, I was obviously a bit conservative with my prediction on amounts of discount, is confidence really that low?
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copacetic
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Post by copacetic on Apr 11, 2019 20:04:53 GMT
Good job Moneything. I like seeing the free(ish, since premiums aren't a thing yet) market connecting willing buyers with cash to spare and expecting to turn a profit with willing sellers that want their money out. Two parties happy and no downside!
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agent69
Member of DD Central
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Post by agent69 on Apr 11, 2019 20:18:32 GMT
Late on parade again, so missed all the 25% discounts.
Do people think this will make a big difference? There doesn't appear to be any major purchases, just people nibbling around the edges. I think discounters are going to have to sweeten the current deals to shift significant volumes.
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hazellend
Member of DD Central
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Post by hazellend on Apr 11, 2019 20:19:59 GMT
Where is the internal rate of return seen on iPhone?
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Post by Badly Drawn Stickman on Apr 11, 2019 20:39:59 GMT
Where is the internal rate of return seen on iPhone? Probably on the screen.
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hazellend
Member of DD Central
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Post by hazellend on Apr 11, 2019 20:43:10 GMT
Where is the internal rate of return seen on iPhone? Probably on the screen. can't find it on my laptop or iphone
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Post by Badly Drawn Stickman on Apr 11, 2019 20:48:28 GMT
can't find it on my laptop or iphone I didn't want you to think I was spoon feeding you, its Funds, statement and look hard its fairly discreet. But for sure it will be on the screen as stated.
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