hazellend
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Post by hazellend on Oct 15, 2018 20:38:52 GMT
Who knows?
Equities will always be my favourite and I believe that most people in the wealth accumulation stage should have the bulk of their investments in equities.
Vanguard all world is my ETF of choice, and is all I hold in my ISA, SIPP, and untax sheltered accounts.
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hazellend
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Huddle Capital
1000075
Oct 15, 2018 19:59:28 GMT
Post by hazellend on Oct 15, 2018 19:59:28 GMT
First of all, who says this is a family home? Why would repossesing a property with equity cause a family to become homeless? Like any family that rents a property, they can move somewhere else, so needen't be homeless. I'm in this loan now anyway, but won't be feeling guilty if property had to be sold, which is unlikely anyway due to 70% LTV from the vehicle stock. I see asset backed lending as fairly ethical. We are lending money to high risk borrowers, who would have no business without us. Huddle may get 3% per month from this loan, but as I don't pay any tax on my P2P earnings my 1% tax free isn't quite as big a gap down. Looks like this loan isn't filling, so I might just have to take my instant returns
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hazellend
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Post by hazellend on Oct 15, 2018 16:41:18 GMT
Nothing on frank about this loan. It just repays it’s third instalment if capital and interest. Under 'P2P', 'Borrowers', 'B**********t G***p', Last post C*********k L*t Appointment of Administrators, it looks like the one I was in on Huddle, but I could be wrong. You can find it from recent posts 6 hours ago. Yes knew about that but still not clear how it affects this loan which made a capital and interest payment after the above news.
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hazellend
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Post by hazellend on Oct 15, 2018 15:59:40 GMT
Sounds like bad news on Frank, I'm glad I sold out a while ago. Nothing on frank about this loan. It just repays it’s third instalment if capital and interest.
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hazellend
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Huddle Capital
1000075
Oct 15, 2018 7:34:16 GMT
via mobile
Post by hazellend on Oct 15, 2018 7:34:16 GMT
I think reference was to the borrower’s previous failed incarnation (same company name but spelled “centre” rather than “center”) I considered this one for a while (and even transferred in some cash) but decided, given the borrower’s track record and reviews, that risk of default was too high. And recovery via a residential 2nd charge could be highly problematic. Also, IIRC, Huddle were charging 3% per month whilst paying lenders just 1% !! Why would the residential second charge be highly problematic Steve? Given 70% LTV on the stock the second charge is great additional security.
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hazellend
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Huddle Capital
1000075
Oct 15, 2018 5:30:33 GMT
via mobile
Post by hazellend on Oct 15, 2018 5:30:33 GMT
Decent loan with good security. Still lots available Was you surprised about a charge on the house in addition to the motors, what are the chances of eviction in non-payment? (Barely broke-even last year with net liabilities). What did you make of the liquidation of their English spelling of this company (>0.3m creditor deficiency)? ? Second charge on the property gives adequate cover alone. I don’t understand the second question but I don’t really care much about spelling or grammar.
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hazellend
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Post by hazellend on Oct 14, 2018 17:05:50 GMT
LTV close to 30% on this now.
Does anybody know what’s happening to this pub. Loan taken out over a year ago so I would have expected it to be open by now
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hazellend
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Post by hazellend on Oct 14, 2018 10:24:27 GMT
Decent loan with good security. Still lots available
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hazellend
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Post by hazellend on Oct 14, 2018 9:41:11 GMT
I hope I am wrong but count and chickens comes to mind You never know in this game but sounds pretty certain now.
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hazellend
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Post by hazellend on Oct 13, 2018 13:29:30 GMT
Thanks for your warm encouragement of the Valuations LTV ConScam GeorgeT. With wise words like yours it cannot but happily continue unabated. There is a difference between a sale at below market value and a false valuation
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hazellend
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Post by hazellend on Oct 13, 2018 10:48:21 GMT
I will probably buy a unit. At the moment I’m rebalancing into equities so depends what happens next week.
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hazellend
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Post by hazellend on Oct 13, 2018 9:42:27 GMT
I don’t disagree. Most of my defaults have gone month after month after month with no material updates. Some have recycled excuses that were first seen a year ago. However, as someone who also has money stuck in COL (receivers appointed) the situation seems to be going absolutely nowhere. It all depends how professional the professionals are I guess. All I want is my capital back. For that, I think the professionals need to come in. Not going to happen with these clowns cooking up some discounted deal with the borrower and then selling it to us as the best they could do. It is unrealistic to expect your capital back on a defaulted high risk loan. Occasionally 100% capital recovery may occur but for 12% interest loans I think you should expect 50 -75%
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hazellend
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Post by hazellend on Oct 12, 2018 10:27:25 GMT
Said activity has been reversed this morning. Update on site regarding what I hope is a minor delay. LW Here we go again!! Happy for any delays on this one
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hazellend
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Post by hazellend on Oct 11, 2018 21:35:50 GMT
Off topic but I have 3 investments on Seddrs which have gone to zero.
When can I offset the loss against taxable income? Do I need to wait for paperwork from seedrs or can I just offset this tax year?
I am off EIS investing although may consider Fund28 with syndicate room who seem a much more professional outfit
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hazellend
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Post by hazellend on Oct 11, 2018 19:58:26 GMT
Just read the particulars again. Blimey! It's worse than I thought. The borrower is just a tenant in a leased building, no ownership of the property whatsoever so we have no tangible asset apart from what's on the balance sheet (where is it?)- most likely a big proportion of that is good will. I'll pass on this one. Hang on... I need to go back and read it again. The building is the asset isn't it? The borrower is buying the building without the freehold, but that is not the same as leasing it. The freehold is a seperate asset. In London most properties are owned Leasehold. "This twelve-month loan has a value of £1,600,000 and is secured by a first-charge over the leasehold of a part-completed commercial property at W*********** Square, Liverpool."
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