moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Nov 13, 2018 10:01:44 GMT
If he hasn't started formal legal proceeding against you I would tell him to p*** off.
I have been through many different forms of dispute resolution, including attending a small claims court case about 2 years ago (the administrator of a bankrupt subcontractor alleged we owed the company money). Whereas there is disclosure in some forms of dispute resolution, I don't recall anything in the small claims court. The administrator submitted documents to the court allegedly showing that the debt existed, we submitted documents showing why money hadn't been paid. We all then went to court where each side has the opportunity to examine the evidence submitted by the other side and question the other sides representatives.
The trouble with disputes is that people can get entrenched in their positions. Have you looked in detail at what has been alleged by way of a breach and responded honestly?
I don’t know about good old English law but under Scottish law if you receive multiple letters referring to a debt even a legitimate debt. It is a criminal offence of harassment if you have informed the sender that you are prepared to go to court and give your local court details. The Police will act. Debt collection agencies in England back off the moment you tell them you have informed the person involved you will go to court as by acting as their agent they would be committing a criminal offence. Just found this for England link
Agreed. If they are persistent, you could send a notice of intent for harassment "unless contact ceases within 7 days from X". Also, definitely don't share information - Much of it will likely be protected by GDPR, and this you will leave yourself open to data protection claims.
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Sept 11, 2018 7:25:51 GMT
I had a small portfolio of single let properties back 10yrs or so ago, seeing around 5-6% ROCE. At the time, I reasoned "Why am I doing this, when I can get 5% in the bank?!".
So I sold up, and went into HMO (student) lettings in a university town. None of this "student investment" rubbish, but actual owned residential property, converted into HMO, upgrade for fire regs etc. Those are going well, with 11-14% ROCE. And more recently some other commercial/residential mixed property which will see an ROCE of about 25%, and significantly more ROCE after a coming remortgage.
(I tend to ignore yield after the first quick-glance-valuation because I find it to be meaningless in reality. ROCE (Return On Capital Employed) works much better for me - And more comparable to P2P and other investment returns).
Personally, I would ignore BTL due to low yields. I wouldn't bother with just one or two properties either, as it's not as passive as many people will try and sell you a course for - Even with an agent, you will need to manage them, keep chasing them, and check the property yourself every nowsl and then. Better to consider it a business and (probably) scale up slightly bigger at least IMHO.
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Jul 25, 2018 21:27:05 GMT
Wringed out well flannel over the face in bed. Or same with a sheet if really warm!
Windows open after sunset, closed in the daytime.
Fan with a bucket of iced water behind it.
Bottle half filled with water, then put in the freezer - Longer lasting ice cube!
Failing that, a long holiday to somewhere northern/southern 😀
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Jul 22, 2018 13:54:45 GMT
A suggestion - Position yourself into a remote worker role, and then well, just go wherever the wind takes you over the coming months/years/decades. PS. Followed/contributed to your last thread; Am in a similar boat; Decided to call it quits early next year, decompress for a short while, then figure out what I'm doing for the next 1/4 life .
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Jun 21, 2018 22:17:09 GMT
Initial read indicates extremely positive progress. I'm satisfied that the administrator is doing the right thing. We should get much of our money back, but almost certainly not 100%. Looking at the administrator fees, I'm in the wrong business... * The mention and separation of investor and creditor. * That servers have been located and steps to securing the data are in play. * A pre-filled proof of debt expected to be sent out to "each investor" (or should that be "ready filled" :-) * £70k administrator charge for the 3 month period (!!). £533k total fee estimate * Contact details for investors is secure, and their total loan amounts and cash balances. Total cash balances, however, do not agree with the balance in the client account (~1MM). * Investor's specific loan information is not available, and this is what's being sought from the 3rd party servers. * Administrator are in contact with the previous directors (they aren't AWOL) * Are investors classed as creditors? - Pg 14. It appears that loans are protected via trust for the most part, and cash and shortfall to be classed as creditor. My take is that we should likely receive 70% (average LTV) +/- valuation fudge +/- non fire-sale price. Can someone else share their view on this?* Estimated outcome for investors. Pg 15. Unlikely to see return of full investment, due to the estimates creditor(sic) claims exceeding the asset book value* £17.0MM assets. £17.5MM liabilities. £500k estimated deficiency. -£500k costs = 94% liability coverage. (Appendix 2) registerme, feel free to merge into your post if preferred
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on May 11, 2018 17:26:23 GMT
Anyone who thinks that taking money from one generation to give to another is going to "heal" anything is particularly naive. If anything the proposals will create more divisions. 26 year olds are going to be mighty p'd off. And to the entitled 25 year olds it won't be enough, nothing is ever enough. This is literally how social security, state pensions and free schooling works.
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Apr 27, 2018 18:50:28 GMT
I'm beside myself with excitement here, can't wait for the next thrilling installment of "The Collateral Saga" by close of court today. It's an entertaining - yet (potentially) expensive - TV series to say the least.
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Apr 23, 2018 6:41:34 GMT
Do people split over multiple brokers, £50k each to retain the FSCS protection?
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Mar 6, 2018 14:03:49 GMT
Update 0.1.9 (2018-02-27)New Features: * None. Bug fixes: * Fix to work on Firefox/Greasemonkey. moogman , I can see the option buttons has been moved back to the top of the list, but I still can't get it sort or do any shading after installing the update. The column headers are still screwed up as before. I have tried using the latest chrome/tampermonkey on Firefox/tampermonkey, but I'm getting the same result, ie no sorting or shading etc. I assume its some sort of user error on my part, but I'm scratching my head on where I'm going wrong Just confirming that 0.1.9 fixes this, and confirmed with nick on PM.
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Mar 6, 2018 8:17:43 GMT
Giving my MT portfolio a trim this morning, if anyone wants to pick up bits 'n' pieces across the board. (For a purchase, nothing to do with COL :-))
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Feb 15, 2018 20:11:27 GMT
Update 0.1.8 (2018-02-15) New Features: * Add yellow/red/black colour and filtering for days-remaining. * (Trivial) Focus the 'email' textbox on login page so you can press <enter> to login.
Bug fixes: * Fix to work on Firefox/Greasemonkey.
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Feb 15, 2018 19:56:04 GMT
Hi moogman , your browser script seems to be broken. I'm so used to having the script on that I can't remember what the original live loan page looks like, but I think a new column must have been added - possible 'bidding start' which is throwing out the formatting? Thanks for the heads-up. The options button has been shunted to the bottom of the loans list - I'll fix this shortly, but until then things should still filter OK.
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Feb 7, 2018 9:20:29 GMT
If you're after income then it's worth researching Investment Trusts in addition to passive funds / ETFs Good call. Any suggestions on which Investment Trusts to research?
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Feb 7, 2018 9:18:22 GMT
Take a peek at one of the Vanguard LifeStrategy fund range. It's as passive as it gets, pretty cheap as funds go, and cheaper if you buy it on the Vanguard platform.
HL is a bit expensive, at ~0.45% platform fee, and with many of the funds your total yearly cost can be 1-1.5%. That compounds quite badly over the years, so it pays to look at reducing fees too.
FWIW, I've consolidated my various funds into a single LifeStrategy100 on HL. After April, I plan to look at cheaper platforms, and buy a few Vanguard ETFs again (slightly cheaper than the LifeStrategy fund again).
|
|
moogman
Member of DD Central
Posts: 76
Likes: 90
|
Post by moogman on Feb 7, 2018 9:12:06 GMT
|
|