stevio
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Post by stevio on May 31, 2019 22:38:07 GMT
Have £5+£1k savings allowances
P2P used to pay 7-10%, but defaults are more common and overall return has fallen
Attempt to reduce risk with Assetz Capital QAA and Mintos buyback loans
Maxed high interest bank accounts
Any other ideas?
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cwah
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Post by cwah on May 31, 2019 22:52:55 GMT
As warren buffet said... "Risk comes from not knowing what you are doing"
So as I don't know much on Mintos loan, I only get buyback with A or B ranked loans! And I avoid putting too much on 1 provider. Mogo is the only one with A rating and buyback servicing £. So maybe good to consider other currency.
If you're happy with 4% return. You can buy an index fund such as the FTSE100 or even some dividend ETF. Good thing is that dividend are only taxed 7.5% as opposite to loans or bonds at 20%.
I have a bit more trust in Moneything due to their responsiness, although I'm still waiting for them to manage properly one of my defaulted loan!
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stevio
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Post by stevio on Jun 1, 2019 0:23:31 GMT
As warren buffet said... "Risk comes from not knowing what you are doing" So as I don't know much on Mintos loan, I only get buyback with A or B ranked loans! And I avoid putting too much on 1 provider. Mogo is the only one with A rating and buyback servicing £. So maybe good to consider other currency. If you're happy with 4% return. You can buy an index fund such as the FTSE100 or even some dividend ETF. Good thing is that dividend are only taxed 7.5% as opposite to loans or bonds at 20%. I have a bit more trust in Moneything due to their responsiness, although I'm still waiting for them to manage properly one of my defaulted loan! Thanks. I use my dividend allowance, were as here I was looking to use my savings allowance, so 0% IT rather than 20%
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registerme
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Post by registerme on Jun 1, 2019 0:55:50 GMT
As warren buffet said... "Risk comes from not knowing what you are doing" I'm sorry cwah but I am going to have to comment on this sorry, no, I'm going to have to call you on this. Your recent questions re Lendy, MT, loan this and loan that, in public and on DD central, clearly demonstrate that you don't understand what you've invested in . With that as context, think hard about your Buffet quote above, think hard about what I've said, and think hard about what you're going to do. Good luck.
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cwah
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Post by cwah on Jun 1, 2019 2:06:37 GMT
As warren buffet said... "Risk comes from not knowing what you are doing" I'm sorry cwah but I am going to have to comment on this sorry, no, I'm going to have to call you on this. Your recent questions re Lendy, MT, loan this and loan that, in public and on DD central, clearly demonstrate that you don't understand what you've invested in . With that as context, think hard about your Buffet quote above, think hard about what I've said, and think hard about what you're going to do. Good luck. I took stupid risk on Lendy but it's because of their shady way to promote LTV, which are in reality LTGDV. But also because of the non explanation of DFL, which I'd never have taken if I knew what it is. Worse combination was to put a LTGDV % of a tranche (eg.15% LTV) when in reality there are like 10 tranches and it's only the LTGDV of the tranche 1 Very very messed up. And it was the first time i used p2p bridging loans
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adrianc
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Post by adrianc on Jun 1, 2019 7:07:16 GMT
I'm sorry cwah but I am going to have to comment on this sorry, no, I'm going to have to call you on this. Your recent questions re Lendy, MT, loan this and loan that, in public and on DD central, clearly demonstrate that you don't understand what you've invested in . With that as context, think hard about your Buffet quote above, think hard about what I've said, and think hard about what you're going to do. Good luck. I took stupid risk on Lendy but it's because of their shady way to promote LTV, which are in reality LTGDV. But also because of the non explanation of DFL, which I'd never have taken if I knew what it is. Worse combination was to put a LTGDV % of a tranche (eg.15% LTV) when in reality there are like 10 tranches and it's only the LTGDV of the tranche 1 Very very messed up. And it was the first time i used p2p bridging loans All of which was clearly explained in the documentation presented for the loan. I think you've just proved registerme bang-on-the-money.
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cwah
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Post by cwah on Jun 1, 2019 7:15:55 GMT
It was misleading advert.... I'd have never invested on many of the loans if I knew...
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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 Jun 1, 2019 9:44:37 GMT
It was misleading advert.... I'd have never invested on many of the loans if I knew... You might say that, FOS wouldnt appear to agree
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Greenwood2
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Post by Greenwood2 on Jun 1, 2019 10:07:22 GMT
I took stupid risk on Lendy but it's because of their shady way to promote LTV, which are in reality LTGDV. But also because of the non explanation of DFL, which I'd never have taken if I knew what it is. Worse combination was to put a LTGDV % of a tranche (eg.15% LTV) when in reality there are like 10 tranches and it's only the LTGDV of the tranche 1 Very very messed up. And it was the first time i used p2p bridging loans All of which was clearly explained in the documentation presented for the loan. I think you've just proved registerme bang-on-the-money. This is why the FCA are thinking of restricting P2P lending. Some lenders don't understand what they are getting into, and even giving a load of information for lenders to consider, doesn't help if it's not understood. Even the lenders that do understand can get burned, but at least they can accept it was at least partly their own fault. Not saying Lendy's (other platforms are available) valuations were correct!
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travolta
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Post by travolta on Jun 1, 2019 10:08:09 GMT
Vanguard Index trackers....monitor and drip feed as currency falls....sell high and reinvest? You have to behands on. If you have plenty of life left , just drip feed every month. If you have any spare money I would suggest spending it on stuff you really like... or send cash anonymously to people who you know, need it(seriously!)
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Post by Deleted on Jun 1, 2019 14:08:58 GMT
Some at 16% Some at 12% Some at 8% Some at 2%
Take capital gains at least up to limit. More in 2019/20 in case the nutters get in and do as promised which is increase capital gains tax and possible wealth tax.
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bigfoot12
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Post by bigfoot12 on Jun 2, 2019 9:37:16 GMT
Have £5+£1k savings allowances Any other ideas? Be careful that you don't let some marginal tax allowance force you into an otherwise unsuitable product, but some of the fixed income ETFs used to be taxed as interest, as did some of the direct lending ITs. I hold these within ISA and SIPP wrappers now so I might be out of date. I like National Savings and Marcus.
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stevio
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Post by stevio on Jun 2, 2019 10:02:16 GMT
Have £5+£1k savings allowances Any other ideas? Be careful that you don't let some marginal tax allowance force you into an otherwise unsuitable product, but some of the fixed income ETFs used to be taxed as interest, as did some of the direct lending ITs. I hold these within ISA and SIPP wrappers now so I might be out of date. I like National Savings and Marcus. Thanks bigfoot12 , do you have their names so I can investigate further?
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bigfoot12
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Post by bigfoot12 on Jun 2, 2019 10:28:40 GMT
Be careful that you don't let some marginal tax allowance force you into an otherwise unsuitable product, but some of the fixed income ETFs used to be taxed as interest, as did some of the direct lending ITs. I hold these within ISA and SIPP wrappers now so I might be out of date. I like National Savings and Marcus. Thanks bigfoot12 , do you have their names so I can investigate further? You'd have to think which investments you already have and if such an investment makes sense for you. If you are new to this I would stick to those products such as those iShares which are marketed to UK investors ishares.com/uk. (Make sure the country code on the sites says UK.) Or similarly with Vanguard, but fewer to choose from. The ITs I was thinking of are the P2PGI, FCIF or VSL which are much discussed elsewhere on this forum. Do your research really carefully - don't own any of these outside wrappers, and FCIF is holding a vote to wind up (which might make it more or less attractive - depends). Obviously if defaults increase, interest rates increase, or inflation increases you could easily lose a lot more in capital than the tax benefit.
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bigfoot12
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Post by bigfoot12 on Jun 2, 2019 10:54:46 GMT
stevio one of many things to consider is that some of these (maybe all) are registered overseas so will count as foreign income, at the very least will add another page to your tax return (if foreign income over £400), not sure if this still makes them eligible as interest from a savings allowance point.
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