stevio
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Post by stevio on Jun 17, 2019 16:06:12 GMT
Sorry, there has been lots of posts and not had chance to keep up to date
Have all the issues now been resolved?
If these were placed on the SM, would everything proceed correctly and accurately now?
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stevio
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Post by stevio on Jun 5, 2019 12:50:37 GMT
...although they do have FSCS, you would still face a delay (and quite a bit of stress) to the return of your funds Which is, of course, common to absolutely every FSCS financial organisation. "High St Name" retail outfits may get a big of a wiggle-on simply because of the bad publicity in delaying Mrs Miggins pension. But the reserves, proven profitability and previous years in business throughout difficult economic climates would suggest the chance of needing to claim from the FSFC for more established institutions is much less (albeit not nil, as we have seen, your never to big to fail, but generally only in very unusual circumstances would this happen) Small UK focused companies that rely on the profit off customers investing, might not fair well in a Brexit
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stevio
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Post by stevio on Jun 5, 2019 12:07:17 GMT
Degiro prices are 15 mins old, so you have to switch to another place to find that out. Degiro have fscs protection, so does Freetrade but they save orders all to the end of the day, for example unless you pay per trade. www.ft.com/content/8be69c5e-5f6b-11e9-b285-3acd5d43599e " one clip for example "Freetrade customers can opt for a general investment account paying no fees, or pay £1 a trade to deal instantly, rather than have their trades conducted in bulk with all other customers at 4pm each day." These models are free with limited service. They all seem to have pay-for options eg "Freetrade plans to launch its “Alpha” service — its premium offering — later this year and says it will cost about £7 a month, covering all customers’ costs." Degiro does NOT have FSCS protection (now £85,000 for investments). It is under the European scheme, which does not have as high a limits for investment (€20,000) and requires you to claim from a (likely reliable but) foreign scheme. Degiro is registered with the FCA, but is pass ported in. www.degiro.co.uk/about-degiro/safe-and-reliable.htmlThe Dutch Investor Protection Scheme (Beleggerscompensatiestelsel) is applicable, as DEGIRO is a licensed investment firm authorised by the Netherlands Authority for the Financial Markets (AFM) for the provision of investment services. Information about the Dutch Investor Protection Scheme can be found in English on the De Nederlandsche Bank (Dutch Central Bank) website here.DEGIRO operates under behavioural supervision of The Netherlands Authority for Financial Markets (AFM) and the prudential supervision of the Dutch Central Bank (DNB). DEGIRO is also registered at the Financial Conduct Authority (FCA) in the UK under number 595455.One of the main issues with Degiro is either the counter party risk of them lending your equities (the main type of account) or charging you for dividends in their other account type. Both rather hidden in their T&Cs and not well known to most who look no further than the trading costs. Freetrade is a new business currently surviving off investors and not likely to turn a profit for at least a few years. Its profits are "hoped" to come from building a free trading customer base and then selling "premium" services to those customers. Whether it will be in business in a few years is anyone's guess and although they do have FSCS, you would still face a delay (and quite a bit of stress) to the return of your funds
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stevio
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Post by stevio on Jun 4, 2019 5:44:30 GMT
Would recommend Grupeer. Good returns and no defaults. Would not use Twino again their default rate is scary and I would worry about their ability to honour buyback. How does it compare to Munro's and is it not the individual lender that buysback
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stevio
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Post by stevio on Jun 2, 2019 18:43:32 GMT
So non one is using the AC QAA as an alternative to a savings account?
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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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stevio
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Post by stevio on Jun 1, 2019 13:19:55 GMT
Threads like this are cringeworthy.
An emergency fund is just that. An emergency fund.
Your emergency funds need to go in the most boring place you can find ... i.e. an old-fashioned bank account.
No P2P. No stockmarket. You DO NOT TAKE RISKS OF ANY DESCRIPTION WITH YOUR EMERGENCY FUNDS. Full Stop.
And you also don't tie up your emergency funds in places where you can't get at it. Its an EMERGENCY fund for heavens sake. You don't want to be subjected to liquidity risk or withdrawl restrictions. By definition ... EMERGENCY EQUALS INSTANT ACCESS.
Sheesh. I can never beleive people need it spelt out to them.
As for the amount of emergency fund, one year's salary is the number to aim for. But the bare minimum should be absolutley no less than 3 months salary (on the understanding that you know full well that you are scraping the bare minimum). You have to imagine the worst (e.g. you loose your job, then other stuff happens at the same time) .. hence one year is what most sensible people do.
Ok, maybe let me put it another way, one were I dont get called dumb would be nice! Emergency fund is probably not the right word, "cash flow" of monthly living expenses and taxes to be paid in a year or so might be better Fortunate maybe, but I have never really had an emergency fund as such, I have never been out of work and I have always had some other form of income stream than employment or access to savings. P2P actually helped for this as it was a regular income stream, I was so diversified that defaults did not have so much impact and cash flow However, moving away from P2P into shares, accumulation units and CGT mean I only re-balance annually So I have to plan out living expenses and taxes a year in advance That money might not be needed till the end of the year, so there is a year it is earning next to nothing and actually losing money being eroded by inflation So I do not see any problem with finding a short term home for that with maybe double the return Its not really emergency funds, but a reserve of funds needed at a future date up to a year, that if not available at the time, I have other income and savings to cover I find it hard to believe that everyone's funds in in AC QAA or Ratesetter or similar are purely investment money that is not earmarked for another purpose
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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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stevio
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Post by stevio on Jun 1, 2019 0:04:29 GMT
ISA? LISA?
% broker for small amounts. Fixed fee for larger sums
Fixed Fees iWeb UK S&S Interactive Brokers UK&US $100k+ holdings
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stevio
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Post by stevio on May 31, 2019 23:52:04 GMT
What are your criteria for deciding on trackers and what order of importance are your criteria?
Do you want Emerging Markets in your World tracker? This tends to be the difference in price between World trackers. The extra cost is guaranteed, but not the return from EM
Your platform fees will also be a factor in which tracker and also whether it is shares or funds
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stevio
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Post by stevio on May 31, 2019 23:42:50 GMT
Interested in how people handle this, as specific to own circumstances, general idea of frequency of income, bills and level of contingency and methods used would help
Personally have 2 scenarios:
1) Mainly annual income,
50% of bills are regular monthly bills,
50% of bills are larger lump sum bills approx quarterly.
25% of income covers bills.
Currently reserve 50% of income, split 50:50 instant access P2P and high interest maybe 90d access to P2P
2) Monthly income but variable
No monthly bills
25% of bills are small lump sum bills approx quarterly
75 % of bills are large lump sum bills approx annually
25% of income covers bills
Current reserve 100% of income, 100% instant access P2P
It seems obvious now put like this that 2 needs to reduce reserve, maybe to 59% of income?
Any other changes, suggestions, what you would do?
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stevio
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Post by stevio on May 31, 2019 23:08:18 GMT
Anyone interested, found cheapest LEI for me was www.lei-manager.com/ at £44 (pay in Euros and use Revolut or other spot rate card) Decided on H&L as - no annual fee for holding shares - has S&P 500, NASDAQ and World tracker via regular investment £1.50 purchase costs - use other personal trading account for foreign shares Anyone elses experiences LEI and company trading accounts welcome?
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stevio
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Post by stevio on May 31, 2019 22:42:57 GMT
Currently with Mintos
Considering Twino
Any others that fit above criteria?
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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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stevio
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Post by stevio on May 22, 2019 17:44:48 GMT
But hasn't this loan been aiming to complete "the following month" for about half a year? I don't get why everyone suddenly believes this last update. Or have I missed something? Aside the discount there is also the attraction of 15% interest so that further delays are no great inconvenience as long as the loan eventually repays. Some people are happy to take a gamble. MT has done existing lenders a huge favour, allowed them to exit this loan with full capital return and still paid them at least a 9% return (13%-4% discount = 9%) Those that buy this though, with marketed 4% discount and extra 2% interest (in reality this 2% is probably just 0.5% for the 3 months the loan maybe held, any longer and the chances of full repayment seriously decline), gain maybe 4.5% interest over 3 months, but seriously risk up to 66% loss of capital. Those odds are also at the nearest bookies, for those that dont like their money but like a "gamble"
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