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Post by justdabbling on Oct 20, 2016 9:36:17 GMT
It might be more for SS as it is much easier to invest in SS because of INPL and the pre-funding arrangements.
Taken together these make it much easier to invest if you are at work or busy at the specific time of the loan release. I have had an account with MT for a while but I have not been able to line up opportunities to transfer funds and compete for loans when they come out because of work, travel and social commitments. This is similar for Collateral but for SS it has been relatively easy.
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Post by justdabbling on Oct 18, 2016 17:59:52 GMT
Yes, as you say 'expect' is not definite, and I was not aware that other platforms have concluded that it would not be possible to place existing p2p investments inside the IF ISA wrapper. I have not used the SM for Abundance and there is not much of an explanation as to how it works when some payments have already been made, but your explanation does make sense. I don't know what happens to the interest either - perhaps the buyer just has all the next interest payment but it is still surprising what people pay. On the Ecossol project someone has offered £200 for £175 worth of debenture and the interest, there are 12 days left for more bids and the interest paid out in September 2016. I find it all surprising but usually very small amounts so no-one is going to make their fortune.
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Post by justdabbling on Oct 18, 2016 14:51:35 GMT
The information about the Abundance ISA does say that they 'expect there will be a way of transferring your existing Debentures into your Abundance ISA. We are working on this at the moment and will update investors when this becomes possible'. I have always thought it strange that investors seem to consistently pay premiums for Abundance debentures, even when it seems that some of them would have already returned some of the loan and so one would expect them to be sold for less than the original investment, but I do wonder whether I have misunderstood something. Perhaps once they are paying out they are 'derisked' and seen as a relatively safe investment.
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Post by justdabbling on Oct 18, 2016 13:47:51 GMT
I was looking at the Project Trade History which shows actual 'trades' and through October they have ranged from 114% to 110% of purchase price. The overall price to capital ratio is given as 108.9% so the price seems to be going up. It may be that some investors are hoping to put these debentures into an IF ISA from November but 10% still seems excessive.
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Post by justdabbling on Oct 18, 2016 10:48:33 GMT
I am just wondering whether I have missed an opportunity here. I bought the amount of these debentures that suited me to keep in July and now they are being sold at a 10% premium after less than 4 months. Perhaps next time I will buy some extra with a view to selling.
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Lendy (L) in Administration
2015 accounts
Oct 13, 2016 10:42:42 GMT
Post by justdabbling on Oct 13, 2016 10:42:42 GMT
And they gained £862K in tangible assets. I am no expert and these are only abbreviated accounts but I cannot see anything to worry about.
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Post by justdabbling on Sept 26, 2016 10:15:04 GMT
My understanding is that you are allowed to start only one IF ISA a year but you can transfer previous years' cash isas to any number of if isas.
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Post by justdabbling on Sept 25, 2016 18:44:09 GMT
I maintain a spreadsheet with all my bank accounts, pensions, shares and p2p investments. I do not include log in details for obvious reasons. I update it at the end of each month so it tracks overall assets. This was in case I forgot where I had put money, to track when cash needs moving and to help when I fill in my self-assessment tax return, but it would also be useful if I pop my clogs without having a chance to update executors.
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Post by justdabbling on Sept 25, 2016 17:33:21 GMT
I recently set up a limited company to buy an off plan flat, ready 2018 for BTL. I note you can tart between banks to keep the business account costs very low. You can rent space in your home to your company - free income and creates a cost against tax inside the company. The company can pay up to £150 per head for annual events eg Xmas, birthdays, so you can effectively subsidise some spending you would have done anyway tax free against any profits. Even if you have no profits (like me for 2 years, I can create a loss to carry forward). The spending has to be on employees so you need to make partner/friend a director, or secretary ... Take your computer and wifi into the company - you can claim the capital value of the computer, and the wifi/phone rental (or you can claim part usage of your costs for the home) If you drive anywhere or have costs associated with DD, these can be claimed. Your own company money is usually your own taxed income going in "director's loan" and what you withdraw from that is tax free. you can do some marketing....get an top of the range North Face jacket and get your company name or logo on it - the cost is borne by the company. But you do have the costs of accounts being done each year - they have to be audited so need to be done by an accountant IIRC rather than just yourself. I know that these are all marginal "perks" but when you work for the NHS, these things look amazing! I have enjoyed most of these benefits for my usual work as an education consultant without setting up as a limited company. If the revenue from a particular business is less than about £82000 there is no need to give a breakdown of the expenses and the purchase of new computers and even cars can come under capital allowances. Some of my work was taken into a payroll and now that I am working less the self employed revenue less expenses creates a loss which is set against the employed earnings and I receive a tax rebate of some of the tax paid via the payroll. I have never used an accountant and perhaps I have been lucky in that in over 20 years my tax returns have not been queried.
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Post by justdabbling on Sept 2, 2016 10:34:55 GMT
I agree with all reasons given and this also mirrors the post Referendum downturn in mortgage applications.
Another factor weighing on my mind is that I have given up hope of having the IF ISA available this year, which means that I may be able to make a better net return on FS, as I could sell the loans and avoid some income tax. Once we are half way through the tax year 6 month loans paying interest at the end of the year would kick the tax liability into the next tax year when we may have the IFISA. Is anyone else thinking along these lines? It could be a disadvantage for SS and Collaterol and other sites paying interest monthly.
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Post by justdabbling on Sept 1, 2016 8:28:59 GMT
The interest calculation process appears to have caused a problem with the figures shown in the big coloured boxes at the top of the page, so Total loans funded has been reduced by £8.12 but it is shown correctly on the My live loans page. This account balance is also short by £8.12.
I am not attempting to check the interest for each loan as life is too short but the overall figure looks about right.
I have advised Collateral as they asked for individual reports of problems.
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Post by justdabbling on Aug 25, 2016 5:59:52 GMT
Is anyone else having this problem. I can open main pages on the SS site but the drop-down options aren't working. I.e. I can view my loans but can't open each individually or look at the loan parts I am selling. I can look at all loans for sale but can't open pending loans. Im using iPad. Never been a problem before. Issue started yesterday. Will email SS but wondered if others are experiencing the same. Definitely not a fault on the iPad as all other sites I access are operating fine. the dropdown under your name to the left of the page?
just checked on mine for you and working fine here. ipad 2.
try the old switch it off...
Interesting that you mention the name. My name appears on my desktop but on my iPad it is just shown as 'NONE', which I have taken to be to protect my identity on the mobile device. If that is a glitch I'd like to keep it.
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Post by justdabbling on Aug 24, 2016 6:51:34 GMT
I have tried to replicate this problem but the site is working fine on my iPad. I don't have any loans for sale though, so I haven't checked the operation of that feature, but all details and documents of pipeline loans are fully accessible.
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Post by justdabbling on Aug 21, 2016 10:27:48 GMT
There is a link to an article in the Times which alludes to this topic and in any case is of interest. The link is in this forum under 'Ratesetter in the news' but the article actually relates to all P2P, and it suggests that the financial services industry are successfully lobbying politicians and that this may have contributed to the delay in enabling most P2P platforms to offer the IF ISA.
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Post by justdabbling on Aug 20, 2016 10:10:50 GMT
Thanks for posting the link to the article which was interesting. Press articles about P2P are often very negative and I have suspected that the newspapers had one eye on their advertising revenue but this one was more balanced, and reflected more accurately the experiences described on this forum. The suspicion that lobbying by the established financial services industry may be delaying the IF ISA was something I had not though of but does make sense.
As this is of general P2P interest I wonder whether someone with the necessary skills could link it to the general P2P discussion?
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