archie
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Post by archie on May 21, 2017 13:24:25 GMT
No, don't think it's drawn down yet. Probably Monday.
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micky
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Post by micky on May 21, 2017 13:26:39 GMT
Are the people selling on the SM going to lose part of their cashback?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 21, 2017 15:09:49 GMT
No . looks like it will be Monday Goodo, beers all round Monday then!
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vmail
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Post by vmail on May 21, 2017 15:46:59 GMT
Are the people selling on the SM going to lose part of their cashback? I was told they will till get their CB. But I don't get why they are selling, there are 265 days remaining.
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micky
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Post by micky on May 21, 2017 16:59:59 GMT
Thanks. I would think that as 25K receives 2% cash back and increases as you go up to 100k that's a lot to have invested in one loan. When ISA's and 14-15% are also available on other platforms. Just a case of maxing your income from the pot you have available.
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vmail
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Post by vmail on May 21, 2017 18:26:08 GMT
Thanks. I would think that as 25K receives 2% cash back and increases as you go up to 100k that's a lot to have invested in one loan. When ISA's and 14-15% are also available on other platforms. Just a case of maxing your income from the pot you have available. What platform would that be?
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micky
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Post by micky on May 21, 2017 19:22:32 GMT
I've started to use Funding Secure IFISA and also researching AC and ABL. Do you have any thoughts/comments about these platforms?
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vmail
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Post by vmail on May 21, 2017 20:15:28 GMT
I've started to use Funding Secure IFISA and also researching AC and ABL. Do you have any thoughts/comments about these platforms? The below is my comments, other investors may have different opinions. I've stopped putting in new money in FS, I'm only reinvesting current funds. I've learnt to avoid boats (and yards), hotels, wind turbines, and pawn. From now I'm sticking to +13%. Most loans repay/renew on time (or within a few days/weeks). Interest is paid at the end of term and not monthly. My reason for not add new money is because I will be buying a house next year, some 6 month loans have been running for up to 675 days. AC is not for me, I'm in the process of cashing out, it was good in the old days. There's currently a decent 11.5% on there. Not touched ABL yet. I think the minimum investment is £5k for PM.
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hantsowl
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Post by hantsowl on May 21, 2017 21:02:58 GMT
I've started to use Funding Secure IFISA and also researching AC and ABL. Do you have any thoughts/comments about these platforms? I have moved out of AC because of the number of default loans and not over happy with the individual security. ABL has good loans, but there is not a great throughput of new ones. FS seem to come up with many property loans each week. This concerns me because it makes me suspect the DD they do for each. I also have a number in unredeemed state and many many more in a 'Frozen' state were I am unable to even list for sale. Because of this I am moving out of FS, but this is going to take much longer than my exit from AC because of these frozen loans. Most of my funds are in LfSS, MT, Col and LI. Be advised that rates are lower at LI (~7%) but I just feel they are less risky than most others.
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IFISAcava
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Post by IFISAcava on May 21, 2017 21:40:24 GMT
Are the people selling on the SM going to lose part of their cashback? I was told they will till get their CB. But I don't get why they are selling, there are 265 days remaining. Perhaps because they overinvested to get the cashback and are now scaling back, to use the money somewhere else to get cashback?
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vmail
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Post by vmail on May 21, 2017 22:12:41 GMT
I was told they will till get their CB. But I don't get why they are selling, there are 265 days remaining. Perhaps because they overinvested to get the cashback and are now scaling back, to use the money somewhere else to get cashback? More cashback? where?
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IFISAcava
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Post by IFISAcava on May 21, 2017 22:20:21 GMT
Perhaps because they overinvested to get the cashback and are now scaling back, to use the money somewhere else to get cashback? More cashback? where? Dunno - bound to be some more somewhere! There's always FS if desperate. But selling early because they overinvested was the main point. Then sell and diversify once cashback safely pocketed (and assuming liquidity in the loan)
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micky
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Post by micky on May 22, 2017 13:31:03 GMT
Will cashback be paid today, Gordon?
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Post by Collateral Rep on May 22, 2017 13:35:41 GMT
Hi micky, We're just waiting on legals, as soon as it's drawn down the cashback will be processed. Many thanks, Gordon
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micky
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Post by micky on May 22, 2017 13:39:52 GMT
Thanks for your prompt reply.
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