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Post by caveman38 on May 19, 2016 13:05:30 GMT
What is a BH. Sorry can't find it in search or other platform glossary/
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Post by caveman38 on May 14, 2016 16:46:09 GMT
SS are like the M25 - a victim of it's own success. Old gits like me can remember how long journeys used to be before motorways and notably the M25. Then they were built and how life changed. 8 hour journeys London to Devon were suddenly halved and so were all journeys similarly reduced. Then everyone started using the motorways and then they were crowded beyond belief and we were back to square one. SS the same. While we had our money in BS's everyone were unhappy. Then P2P came along and suddenly our returns were fantastic and notably on SS. Then everyone got wind of it and started using it and now we're back to square one. When all our existing loans are paid back, we'll be left with scraps in all loans and barely enough to temp many to stay. I assume SS are very happy with the situation as all their loans are filled immediately and they don't had to encourage anybody with CB. It is also noticeable to me that they are very rarely on the forum any more. Not that I'm suggesting they should be, but I assume they were more present to address gripes when they needed to fill the loans. This is just like any others like Matched Betting, Snoozing etc. all great for a while and then not worth doing. Worse things to worry about.
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Post by caveman38 on May 9, 2016 10:48:54 GMT
Perhaps someone could explain to an old fart like me the necessity of Capchas on SS. I have to confess that I really don't understand why it is needed on this site and not say on on-line banking for example.
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Post by caveman38 on May 8, 2016 11:52:26 GMT
Is interest guaranteed in this account even if AC experience a lull in loans in borrowing?
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Post by caveman38 on May 4, 2016 8:30:27 GMT
I withdrew around 10k about five days ago and it was virtually instantaneous. Sorry for what may be a silly question. How can you withdraw money from a 30 day notice account in 5 days.
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Post by caveman38 on Apr 29, 2016 20:09:06 GMT
Thanks Chris. So the reply that I received was wrong. I hope that your "Love Money" 3% offer hasn't changed too?
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Post by caveman38 on Apr 29, 2016 19:45:38 GMT
I though the QAA was up around £13.9m this morning but it's currently showing £11.73m. Was there a particularly boozy Friday lunch over at AC, or have there been some very large withdrawals ahead of the rate going back down? [Must have been a display glitch: now back up to £14.37m] From this reply to an email I sent them. "The 4.25% interest accrued would be for the duration that your funds were in the Quick Access Account" I'm assuming that any money deposited throughout April will accrue 4.25% for the duration. Is that not the case then.
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Post by caveman38 on Apr 29, 2016 17:07:26 GMT
Made purchases yesterday and sent money by bank transfer early this morning. The money has not been credited to my account although having left my bank. I have not received normal email from SS to say it is received and I have emailed them 3 hours ago without any reply. The phones are now on answerphone and I assume that is for the weekend. Is there any further bank reconciliations due today or tomorrow or do I just wait till Monday and hope that investments are not cancelled.
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Post by caveman38 on Apr 25, 2016 7:30:02 GMT
Although I have questioned the security of these loans. I have however got some of these ie. Asset Exchange and Stocking Portfolios. I should have asked before, but now would like to know. As the renewable option is always available, assuming you don't want to renew. Is the money after the 6 month duration available for repayment and where does it come from?
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Post by caveman38 on Apr 24, 2016 9:54:01 GMT
caveman38 , in case you have missed them, there is a thread here discussing these types of loans, and another older one here that dates back to when the new partner first started with MT. Both contain useful explainitory information from Ed MoneyThing themselves. Thank you for the links. However I still cannot determine from those posts, how secure the loans are. Thanks anyway - I am obviously not that clued up.
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Post by caveman38 on Apr 24, 2016 8:04:28 GMT
As there are another 2 loans of this type available on Monday. I wondered if somebody would humour me and explain how they work. I understand the company raises the money to buy cars to lease out or hire on HP. What I cannot understand is how second hand cars can have a resale value of 80% if a default occurs. If I have got this completely a**e up, excuse me. Although I've got reasonable holdings on MT and SS, I have to confess to not fully grasping all of the workings of each loan and rely heavily (my mistake I know) on the greater knowledge available on the forum.
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Post by caveman38 on Apr 12, 2016 15:51:38 GMT
c. £105,000 Dublin development loan - go live on Friday (No. 18 on the Pipeline list)
£355,000 Prestbury property loan - go live on Friday (No. 6 on the Pipeline list)
Why do these not appear on Pending Loans?
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Post by caveman38 on Apr 11, 2016 9:39:35 GMT
I think diversification needs to take into consideration risk. I mean counterparty risk. If I have mortgage loans with a LTV < 30 %, I feel fine with maybe 5 investments. If I go to consumer finance like Bondora, and without buyback guarantees, it's probably safe to spread your investment at least among 100 loans. I have spread over more than 200 on Bondora and also on Mintos and Twino. On Mintos I have spread among all the grantors of buyback guarantees. More generally speaking, I have now 0,5 % of my assets in P2P lending. On operational risk, I think it's wise to have a minimum diversification also. I spread it over 6 platforms and maybe 1'000 loans. It's partially in EUR and partially in £ (I am EUR based; but you never know what happens to the EU and the EUR if a BREXIT happens) I will pass my investments to 1 % in 2 months when I have reimbursments of a couple of bonds. I'm thinking of possibly increasing to 5 % of my overall assets over the next year when I have more and more reimbursments of bonds. Is that a typo ie. 0.5%. I ask, as I cannot see the benefit in such a small investment over so many platforms and loans. If your portfolio of investments was for £200K, then only £1,000 would be in P2P on you say 1,000 loans. All to make perhaps an additional £90. In essence if the overall percentage of the portfolio made 3% then the difference in getting 12% on £1,000 surely isn't worth the effort. Or am I missing something?
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Post by caveman38 on Apr 7, 2016 14:29:26 GMT
Where would you see the interest earned on a loan sold. Say you sell it on 20th. of month and earned 20 days interest, where would it appear. I can only see interest earned on current holding. Thanks
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Post by caveman38 on Apr 4, 2016 15:44:56 GMT
How long do withdrawals normally take to hit your bank.
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