jimbob
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Post by jimbob on Oct 29, 2015 12:51:48 GMT
Confidence in Ratesetter's provision model is the crucial element (Amongst lenders)
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jimbob
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Post by jimbob on Oct 29, 2015 11:21:25 GMT
I think Lendingcrowd needs to make a 1 month ex-gratia payment of £216.80 on the loan (The equivalent of 1 month's interest). That keeps things simple - any other solution gets messy and fast. Not in this one personally.
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jimbob
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Post by jimbob on Oct 28, 2015 15:16:18 GMT
With regard to moving house there are companies that will buy your roof panels and so if I decide to move I may track one of them down. That's a potential gamechanger if the future owners/market doesn't value the panels highly enough.
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jimbob
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Post by jimbob on Oct 28, 2015 14:00:21 GMT
Using past FiT figures for calculations isn't very helpful here >.>
I don't have a time machine so can't go back and stick solar up 3 years back !
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jimbob
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Post by jimbob on Oct 28, 2015 12:19:06 GMT
Santander from 1st Jan will be £60/year, so on £20k you're actually only looking at a 2.7% account. If you go under 20k, the interest becomes worse and of course there is tax on top which you pay out on the 3% but don't get back on the £60 fee. I suppose it is FSCS protected but the real rate of return on that account looks skinny going forward to me.
My accounts are TSB, Nationwide, M&S Reg Saver, FD Reg Saver. That's the 5 and 6% accounts cleared, 4% may be worth it in the future but I've set an awful lot up recently ^^; ... Santander 123 simply wouldn't be even if I got 30k more in my bank tommorow.
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jimbob
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Post by jimbob on Oct 28, 2015 11:58:00 GMT
In a bit of a dilemma as to whether or not to go for Solar Panels on my current house. First up I can afford it, and am looking at purchasing... not doing the leased roof scheme as I will be looking to sell my property sometime in the next 20 years.
I'm a fairly low user of electricity and I estimate my payback time could well be around 9 years, that's with a system installed for £4750 which I should be able to keep interest free for at least 20 months, after that the funding cost will be 1.89%+base (My mortgage rate).
I'm estimating a 'true' payback time of around 8-9 years though it will depend on what happens to RPI/electricity prices (My annual 7 am -> midnight usage is ~ 1700 kwh/year)
After 9 years the system is earning pure profit, and I'd have thought may make the house more attractive to FTBs/BTLers as the house will be paying the new owners back. I guess I'd be looking to move in around 10 years time having built up a decent war chest by then... the mortgage I am on for my current property is very very soft though (Technically interest only till I'm 67 (I'm 34), though I am ahead on capital repayments). The house is worth around what I paid for it 95k and local estate agents have informed me the panels won't affect the value.
The 20 yr FIT drops 87% at the end of the year so I need to make a decision in say November.
Apols if the post is slightly muddled, but my thoughts on potential panels are too.
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jimbob
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Post by jimbob on Oct 28, 2015 11:38:58 GMT
Just checked and SS represents just over 60% of my P2P/Crowdfunding portfolio (Crowd Property 11%, HouseCrowd 9%, Property Moose 9%, with remaining c.10% spread between Ablrate, Property Partners, Money+Co, Moneything, Funding Circle, Zopa, Seedrs, Ratesetter and Premium Bonds). Its a large proportion but I like the SS rate of return, the relative liquidity and the simplicity of the concept and platform. I am concerned that I am significantly exposed to the risk of the platform failure though. As a % of all my net worth, however, (to include own property, buy-to-lets, pensions and ISAs etc) SS represents only 4% overall so whilst a complete failure might be significant it wouldn't be fatal. I'd say your biggest risk looking at your portfolio is a property downturn ^^;;
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jimbob
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Ablrate (ABL) in Administration
So?
Oct 28, 2015 11:36:41 GMT
Post by jimbob on Oct 28, 2015 11:36:41 GMT
Look forward to seeing what it is all about.
Any news on the amortising loan sale/purchase issue in the meantime ?
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jimbob
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Post by jimbob on Oct 27, 2015 23:57:46 GMT
30% of P2P currently.
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jimbob
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Post by jimbob on Oct 27, 2015 14:26:13 GMT
I also have one of the dodgy VWs. That's your golden "Missold TDI" ticket
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jimbob
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Post by jimbob on Oct 27, 2015 13:57:14 GMT
I'm aware that it is very similar to an endowment mortgage. Endowments got a bad a name and many failed to achieve their goal of repaying the full debt at the end of term. I am interested in peoples opinions or experiences of using P2P as an endowment vehicle. I think many here are doing the same thing... personally I'm on an offset of 65k and have an exposure of p2p of ~6.5k total. I'm borrowing at 2.39 to hopefully make 8+ on the p2p side of things... As others have pointed out you'll need to factor in your own tax situation as its deductable from p2p but the mortgage interest is "tax free" so to speak. Also at the end of 5 years you can recreate a capital repayment scenario if you need to present a 'good set of books' to a future broker In effect you're leveraging yourself quite highly on p2p which is inherently riskier than just repaying the capital... no risk, no reward though !
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jimbob
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Post by jimbob on Oct 27, 2015 11:48:36 GMT
The cashback is paid as soon as you satisfy the conditions So my £1,000.00 deposited and - now - £998.17 invested (£2.35 cash) is not going to qualify, it appears, since neither the cashback nor the incoming-referred bonus have been received as yet Can you confirm, lendingcrowd, if that is the case? I s'pose I could deposit more - £100 minimum on debit card - but... You can deposit less if you do it via bank transfer.
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jimbob
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Post by jimbob on Oct 27, 2015 10:33:19 GMT
The cashback is paid as soon as you satisfy the conditions, I recieved mine back a couple of weeks ago. I was also able to withdraw it instantly, though I will be keeping my holdings over the thousand pound mark for at least a year (And most likely longer if things are going well & I don't need the money) in order that the ts and cs are satisfied and I have a good working relationship with LendingCrowd.
I've found the customer service very good so far even though there have been one or two minor bumps in the road.
Lendingcrowd should probably tighten up their ts and cs though (And make them clearer on the offer), for their own sake if nothing else. You never know when litigous minded legal sharks are circling ready to claim a mis-selling.
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jimbob
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Post by jimbob on Oct 27, 2015 9:20:55 GMT
The 38% farm looks quite nice - I'd like to see Docs tho before investing.
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jimbob
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Post by jimbob on Oct 26, 2015 14:55:33 GMT
To clarify is the £1000 total the total amount loaned out in "investments" or does it need to be the total fair value of the capital lent currently lent out.
For me those two figures were 1052 and 1037 respectively yesterday when I totted through. 'Original' principal was £1070.
The offer is a generous one, so I'm going to try and stay the right side of the Ts and cs ^~
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