|
Post by Duane Dibley on Jun 27, 2018 12:44:09 GMT
Octopus Choice maybe, c4%, no PF but OC has 5% skin the game, ISA avaliable, exit is subject to demand but is usually within 24hrs as OC basically buy you out. Think there maybe a referral scheme, £25 amazon GC each. OC are a branch of a multi-billion investment fund
Looks like Octopus Choice and Landbay are the only other similar alternatives at the moment, until Growth Street have an ISA at least. I'm surprised to be honest, I would have thought that if P2P is to have a viable long-term future then it is these types of lower risk alternatives to mainstream banking that would be the way to go, rather than the higher risk 12%er platforms that, in my opinion at least, have had their day in the sun and are now on the decline. Octopus Choice seems to be most similar to AC's Property Secured Account, although a little lower rate and the 5% co-investment rather than the provision fund, so should ensure a nice bit of platform diversification. Though I am rather concerned about the amount of diversification a lump-sum transfer would receive on the platform, 10% seems way too much, so I suppose spreading it between two or three deposits would at least ensure a more desirable 5% or less. Thanks all for the suggestions.
|
|
|
Post by Duane Dibley on Jun 26, 2018 11:41:13 GMT
Looking for alternative platforms that offer similar products to RS. - ISA - Provision fund or similar - Interest rates 3-6%
I've tried Lending Works and Assetz Capital 30 day account but are there any others?
Thanks.
|
|
|
Post by Duane Dibley on Jun 26, 2018 7:41:53 GMT
Just reading Frank and apparently there is a private sub forum over there where DI and his syndicate can discuss his dealings with BDO. You couldn't make it up. Well, it's all becoming rather unedifying now. Much like two bald men fighting over a comb. Entertaining enough at first to draw a small crowd, but as the squabbling increases and the faces get redder and angrier, just descends into something rather more awkward and embarrassing and the crowd finds itself drifting away before punches are thrown. I won't be standing for the creditors committee nor will I be voting, I'll just be waiting quietly and patiently and letting the experts get on with their job whilst hoping for the best possible outcome.
|
|
|
Post by Duane Dibley on Jun 23, 2018 16:58:08 GMT
The member of the committee must be a creditor but he can authorize a proxy to represent him on the committee. Correct.
|
|
|
Post by Duane Dibley on Jun 23, 2018 16:02:53 GMT
Any creditor or creditors can nominate another individual to represent them on the committee. No. A member of the committee may nominate another person to represent them, but to sit on any creditors committee, not just this one, you need to be an unsecured creditor.
|
|
|
Post by Duane Dibley on Jun 23, 2018 15:33:16 GMT
That is why IMHO dualinvestor who was not an investor would make an ideal candidate. How's that going to work then? To be on a Creditors Committee you need to be an unsecured creditor.
|
|
|
Post by Duane Dibley on May 23, 2018 16:18:56 GMT
Have I got this right?
MoneyThing are sending emails to customers asking whether they want to receive emails.
Why?
You don't need to be Socrates (or even Rivelino) to deduce a slight discord in the logic of their position.
So why are they doing it, it's a complete misinterpretation of the GDPR, and simply pees off existing customers?
And if they're misinterpreting the GDPR in this way, what other requirements regarding data or more importantly client funds are they either accidentally or deliberately 'misinterpreting'?
|
|
|
Post by Duane Dibley on May 21, 2018 19:10:43 GMT
Yes, there's a referral offer currently extended to the end of June - £50 to the referrer, and £25 upwards to the person joining. IIRC it's £25 for an investment up to 5K, £50 up to 10K and so on.... The Welcome Bonus no longer applies to new joiners but is anybody willing to split their £50 referral bonus 50:50? www.wisealpha.com/promos/platform-referral-termsSorted thank you
|
|
|
Post by Duane Dibley on May 8, 2018 19:56:02 GMT
Thanks for the report. we are on it. We applied the equivalent of some Andrews Liver Salts to the system and we are now all good. Ohh no it isn't. Well at least not for me, still getting the "Unable to complete secure transaction" error page that I've been getting for the past week or so. Something's changed and it isn't at my end.
|
|
|
Post by Duane Dibley on Apr 30, 2018 22:29:56 GMT
Not for me it isn't. Website been down all weekend and still down. Shades of you know who? It works for me today, so maybe the problem you're experiencing lies elsewhere? And I would be wary of treating every IT glitch as a portent of financial collapse. Well bully for you, but it's not working for others. And I would be wary of treating every tongue in cheek remark as a serious comment.
|
|
|
Post by Duane Dibley on Apr 30, 2018 20:34:06 GMT
Not for me it isn't. Website been down all weekend and still down. Shades of you know who?
|
|
|
Kuflink (KUF)
Kuflink
Apr 8, 2018 16:33:36 GMT
Post by Duane Dibley on Apr 8, 2018 16:33:36 GMT
Is this sign-up offer still available? Is so if any current member could refer me then I promise to be their friend.
|
|
|
Post by Duane Dibley on Apr 7, 2018 12:15:18 GMT
The only issue with the MT 'lets call them all defaulted' approach is that it pushes a bunch of taxable income into the future, leaving one hoping there will be a similar set of defaults (maybe Ly will fess up to some?) in 2018/9, to absorb the bump .. if not the carefully profiled (to stay out of supertax) income stream is going to veer in and out of acceptable. Frustrating. Very frustrating. No very very very frustrating. I'm sure I'm not alone in doing my tax planning on a continuous basis throughout the year, based on income earned so far, interest paid, defaults called etc, and using pension contributions, VCT and EIS schemes etc to reduce my tax bill or keep in a particular tax band. As late as Thursday, the last day to undertake any tax planning, MT were declaring there were no capital losses in 2017-18. Then lo and behold, Friday morning when it's too late to do anything about it, we have defaults coming out our ears. Twelve months of careful tax planning out the window. Thanks MoneyThing. Thanks a bunch. Amateurs. And for those who have most helpfully said we don't need to claim these losses, have you thought about what might happen next year when presumably they'll be more capital losses and hopefully some recovery, or the year after when they'll be other losses and hopefully more recovery, or the year after that? As others have quite rightly pointed out it's a bureaucratic nightmare trying to reconcile future recoveries with previous losses which may or may not have been claimed for, leaving the only real option to report to HMRC exactly the same figures as the platforms have and then cross your fingers that losses and recoveries are smoothed out in future years to avoid jumping in to a higher tax band or being presented with a bumper tax bill.
|
|
|
Post by Duane Dibley on Apr 7, 2018 11:13:23 GMT
More and more platforms seem to demand to exist (and hopefully) prosper but it’s all becoming too one sided for my liking. They forget that there exists an informal ‘partnership’ between the investor and themselves. But they seem to be going out of their way to alienate investors rather than work with them for the common good. I don't think it's a conscious decision, in my opinion it's just the natural cycle of P2P platforms. They start off with good intentions and a niche product. Investors dip their toes. Like the interest rates offered. Money trickles in. Interest gets paid on time. More investors sign up. More loans are offered. More interest paid. Even more investors sign up. Everything looks rosy. Communication is good. Money is pouring in now. Loans are snapped up in seconds. There's more money to invest than loans to invest in. Platforms are seduced my the increased profits offered by multi-million pound sub-prime property loans rather than the boring old staid products that they made their name with. The money still pours in. Everybody is happy. We're at the peak of the cycle. Then... Then rumours start that not everything is as it seems. The borrower may have previous failed projects or a criminal record or an overexuberant valuation is made. Murmerings of a possible default are heard. Questions are asked. Promised updates don't materialise. Investors start to worry. Communication starts to drop. The first default is called. Investors hesitate. Some stop investing. Some sell their existing loans. Others insist nothing is wrong and continue to invest. A second default is called. More investors sell. Fewer new investors join. There's more loan parts for sale than there are buyers. Another default is called. More investors want to sell. Nobody is buying. Other investors see the amount for sale and worry that others know something they don't. They put their loans up for sale. Platforms start to worry. Profits are going down. They need more loans to replace the defaulted loans. Communication stops. Poorer quality loans are introduced. Defaults increase. Losses are expected. More investors leave. Loans aren't filled. Platform gets desperate. Radical changes are introduced. Investors want out with whatever they can get. It's us and them now. Those out breath a sigh of release. Those still in write off their losses. Platform closes. Now I don't remember the exact time scale, but I was in at the start of both Saving Stream and MoneyThing and I would say that MT are about two years behind Lendy in the cycle. 2015 was a good year for Lendy as 2017 was for MT. If I remember rightly things started to wrong for Lendy the beginning of 2016 and by the end of 2016 I was just about out. Obviously I don't know how long either Lendy or MT have left as viable platforms but I fear for the future of both of them. Therefore these new T&C's don't really affect me as I'd be looking to be out by the end of the year anyway. Now if MT decided to concentrate in what I think they do best, the niche products, the grouped assets, the high end vehicles, then I'd stay in and accept, however reluctantly, the T&C's. As it is however I'll accept missing out on the few loans I would like, in order to remain on the old T&C's and avoid those property development loans that MT, as is their right, seem to have decided is their future.
|
|
|
Post by Duane Dibley on Mar 26, 2018 16:32:22 GMT
Rxdav can you please tell me a 12% + platform that offers 100% recovery rates so I can join up. I’m surprised you have found one others here have missed. No one has ever lost any money at Lendy. Or so I hear.
|
|