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Post by caveman38 on Mar 15, 2016 16:16:27 GMT
Is it my imagination or were there more than 8 pipeline loans on the platform yesterday?
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Post by caveman38 on Mar 13, 2016 19:04:45 GMT
What other platform apart from FS should I be aware of buying remaining time of loan and paying seller accrued interest but more importantly a larger portion of income tax. I ask as I was unaware until I bumped into that fact on their site. How many people in the early stages of P2Pinvesting, building up a fund and having to populate it with SM bits. But unaware that they will be clobbered with tax on the interest you have paid to the sellers of those part loans. Sorry if this is common knowledge. What other platforms would this system be operated on besides FS.
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Post by caveman38 on Mar 13, 2016 18:50:14 GMT
Thanks for the reply. I don't see how other platforms can do that to investors who may be a unaware or like me a bit naïve. It appears that you buy a part loan off an investor at discount or with a premium and also have to pay him the interest that has already accrued because you will be picking that up when the loan terminates. But you are then liable for paying tax on the whole loan. How many people innocently buy on those SM's and get duped?
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Post by caveman38 on Mar 13, 2016 18:40:24 GMT
I asked on a previous post about the SM. The reply was that it is not strictly a SM although you are buying remaining time on Live Loans. Can I ask if there are any tax implications re. interest. Like say FS where "CAUTION: When buying a loan part you are purchasing the original loan part. In line with HMRC rules you will therefore be responsible for any tax liability on all interest paid when the loan completes. As this can result in an overall loss, especially if the loan is repaid early, you should bear this in mind when purchasing on the secondary market". Or does this not apply when interest is paid monthly?
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Post by caveman38 on Mar 13, 2016 11:18:03 GMT
This I have done thanks. But I assume that although I made purchases both yesterday and today. The transaction may only be processed tomorrow and hit my account with SS on Tuesday (worst case scenario) assuming both SS and FD work faster payments. Would Tuesday arrival be OK or will my purchases be wiped?
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Post by caveman38 on Mar 13, 2016 8:33:11 GMT
Can I fund my account using a debit card or can it only be by bank transfer.
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Post by caveman38 on Mar 12, 2016 17:04:56 GMT
Since you guys are still around, I've another question. Re. PBL085 - Student accommodation block C, Huddersfield the loan is live with 362 days remaining although it is not in drawdown. How does that mean and if investing in that loan do you only earn interest once it is in drawdown. Sorry for what may seem silly questions. Thanks.
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Post by caveman38 on Mar 12, 2016 16:19:32 GMT
Thanks again. One more question and then I'll leave you alone. I cannot get my head around the situation with PBL025 - Development land, Block B, Huddersfield. The platform shows money available, but it also shows that it is 17 days late. Does that mean it's in default or 17 days late going into drawdown. If it's a default, why then are investors still committing to it. I mention this particular loan as it exists today but it is most probably a situation that arises more often
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Post by caveman38 on Mar 12, 2016 15:58:04 GMT
Thanks for the prompt replies. I cannot believe how active the market is today re. picking up pieces on the SM. Is Saturday a busy day or is it always like this. Are investors in need of cash at weekends or are they releasing monies having found better opportunities. When committing money to pipeline loans, is there any way of seeing the general interest from other investors.
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Post by caveman38 on Mar 12, 2016 15:18:22 GMT
A new investor on SS. A couple of questions if anyone can help please. On the SS platform. On investor activity - is that always buys or sell parts too. Why do small transactions ie. 1p, 50p appear, and,. Does the SM have a separate tab somewhere or are monies available on SM those monies still available in Live Loans.
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Post by caveman38 on Nov 16, 2015 13:29:19 GMT
I would like to inform the forum that I did get my call from adviser at SS a moment ago. Ironically, I couldn't remember the question or find the paper note it was written on. Age hasn't been too kind on my memory, so apologies to SS for wasting their time.
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Post by caveman38 on Nov 15, 2015 17:39:44 GMT
Hopefully James is now happy and you'll be happy to help me. I have a couple of the easier P2P's set up namely Wellesly and RS and want to spread 2 x 2K across to MT and MS. As these platforms operate in a different way I'd appreciate some help in how you'd go about setting up your lendings as a newbie, till I'm acquainted with it. I'm aware that a couple of the lends will be complete in the morning and maybe there maybe no more for a while. Do I deposit funds in anticipation or will I receive email notification of impending loans, can I set up an intention of lending say at minimum rate of all intended loans etc. Can you guys give me a "Dummies for" procedure for getting me started - assuming I'm not treading on your toes
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RateSetter (RS)
SIPP
Nov 14, 2015 20:24:59 GMT
Post by caveman38 on Nov 14, 2015 20:24:59 GMT
Any lenders here use a SIPP to hold there RS funds. If so was EPM or London & Colonial the only option of SIPP plan manager.
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Assetz Capital (AC)
SIPP
Nov 14, 2015 19:15:43 GMT
Post by caveman38 on Nov 14, 2015 19:15:43 GMT
Any lenders here use a SIPP to hold there AC funds. If so was SIPP Club the only option of SIPP plan manager.
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Post by caveman38 on Nov 14, 2015 16:20:51 GMT
Anyone know of other plan managers beside EPM that one can use to open the Wellesley Listed Bonds. Never used EPM but have read mixed reviews of them. Thanks.
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