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Post by caveman38 on Nov 14, 2015 13:33:21 GMT
Hey caveman38 your cave sure does echo!! Seriously though, as mrclondon says, please don't be disheartened or discouraged to continue to ask questions on this forum which can probably answer more or less all the queries you have. He was also, for your own good, suggesting that you satisfy yourself that you are fully aware and comfortable with all of the risks before you move into the riskier end of P2P; a process that, I can assure you, we have all been through. Thanks for the kind words Jonno. I suppose at 60+ , I am just too used to the courtesies of if promised a call (on 2 occasions) and receiving none. I accept that emails are the accepted way to ask for information but could have been told that by CS on my phone calls. I may still have a dabble with SS in the coming months. I've had a busy week and put £15K on other platforms and am therefor serious to include P2P as a chunk of my investments. I am interested to find out what people regard P2P as a percentage of their overall strategy.
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Post by caveman38 on Nov 13, 2015 18:15:35 GMT
My first experience of these guys in not too favourable. On ringing the 0800 number (not that I'm a cheapskate) I found that the operator was a thoroughly nice girl but wasn't there to answer technical queries. On two occasions she has promised that someone would call me back to deal with my questions. But on neither occasion did I get said call. Are they normally this poor. I ask now before I lend money via their platform in case I need their help afterwards. My early experiences with P2P sites has been good. I've only dealt with RS and Wellesley so far, but was impressed with their immediate answers. Perhaps a bad day at SS?
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General P2x Discussion
MSE Question
Nov 13, 2015 7:46:03 GMT
Post by caveman38 on Nov 13, 2015 7:46:03 GMT
I haven't been attracted to TC. I have to date only lent through RS although I'm intending on taking a bond with Wellesley and a small bit with SS. What I was concerned about was whether other P2P's leave the responsibility of chasing debts to the lender as that is what I interpreted that to mean in the MSE post. So far I felt secure in the knowledge that the parent company dealt with this. Am I right.
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General P2x Discussion
MSE Question
Nov 12, 2015 22:13:42 GMT
Post by caveman38 on Nov 12, 2015 22:13:42 GMT
What does Post 457 refer to. New to P2P and am alarmed when I see references to things I don't understand.
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Post by caveman38 on Nov 7, 2015 10:05:56 GMT
Welcome. Yes, you are right.So if you only want your money invested for 3 years from today but think ratesetter is the place you want your money then you could... Reinvest your 3 year capital and interest returns in the 1 year markets for then 2 years and then... For the final 11 months invest your 1 and 3 year returns in the monthly markets... After 3 years collect your winnings. Has anyone worked out what the final interest rate earned on a lend if was all taken out on completion of 3 years using BB's example above. Assuming initially lent 3 yr. at 5.5% and as each monthly payment was made, re-invested at 4% and in the final year reinvested monthly at 3.5%. What is the true return.
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Post by caveman38 on Nov 6, 2015 20:13:24 GMT
You will get the rate but if you are getting capital returns and putting them else where then only the 36th repayment will have been invested for the full 3 years at the rate you have. There is a chance of early repayment too! Then you will have to make a decision where that money is going. Don't want to state the obvious but these are probably questions you should have found out the answers to before you tied some of your cash up for 3 years. Hopefully now you know how it works you are still happy with the decision to invest. Spot on. This is the problem with low BS rates, large pension pots and looming retirements. Unless your committed to Funds, S&S etc. You lend up with wads of ISA's, SIPP's, 25 Current a/c deposits and the kitchen sink. Yes, P2P seemed like a good idea and maybe it still is for perhaps 10% of the pot but it is a bit more work than I anticipated - I'm supposed to be retiring. I'd imagine I will look at the best times of the month to lend and try and stick with those dates and then only need to monitor the I/C and O/G's then. It'll be no good earning a good percentage if my handicap goes up.
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Post by caveman38 on Nov 6, 2015 19:36:54 GMT
No I must confess, I wasn't aware of the repayment of capital too. So in conclusion, you are unlikely to obtain your initial 3 Yr. lending rate as you re-invest it at a yearly rate as the money dribbles in. Thanks for your patience.
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Post by caveman38 on Nov 6, 2015 18:52:19 GMT
Welcome. Yes, you are right.So if you only want your money invested for 3 years from today but think ratesetter is the place you want your money then you could... Reinvest your 3 year capital and interest returns in the 1 year markets for then 2 years and then... For the final 11 months invest your 1 and 3 year returns in the monthly markets... After 3 years collect your winnings. Excuse my naivety. Are you saying that I receive both capital and interest during the term of the loan. And yes you agree to change the settings to pay to the Holding Account and then manually lend for 1 year each time till the final year. If I'm on the wrong track what do you mean "reinvest your 3 year capital"
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Post by caveman38 on Nov 6, 2015 17:15:14 GMT
If there a newbie question thread - moderator please transfer. Hi to all on the forum. Set up my account this afternoon and familiarising myself with the platform. Most things seem straightforward, but. Although early days for repayment, I may as well ask. On the reinvestment page it appears to default at MR at the duration it was originally lent for all monies paid back. Does that mean if I leave it at it's default setting my money could be lent back say for 3 more years before I have a chance of withdrawing it. If that is so, then is it best to change all to Holding Account till I make the decision on the way forward. What do most of you guys do. Thanks. If all these questions have been asked and answered before can someone point me in the right direction. Cheers.
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