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Post by peregrine on Apr 8, 2019 15:16:41 GMT
I am invested in two defaulted loans - PBL 155 (the larged fortified house) where the property has been sold but insuffcient proceeds received to repay all capital and DFL005 (an arboreteum on the south coast) where there has been no recovery to date.
What are other investors doing about claiming tax relief on either of these loans (or indeed on any of the other troubled loans). Personally, I am particularly concerned about PBL155 as there is now no security for the outstanding loan as the property has been sold.
I am aware of HMRC guidance but feel nervous claiming relief if Lendy are unwilling to confirm that relief is properly due.
What are others going to do on their 2018/19 tax returns
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Post by peregrine on Apr 21, 2017 14:48:48 GMT
Why am I selling ? Its actually not because I need the money but simply because I am getting nervous. My strategy previously has been to sell at 45 days so that I dont have to deal with potential defaults. My fear is that Lendy have now taken on too many junk loans with dubious valuations. I will see how the next week or so goes and if nothing shifts will certainly give up on investing on the platform. Hopefully I am wrong !!!
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Post by peregrine on Apr 21, 2017 14:47:57 GMT
What is going on with the SM. I have quite a few loan parts for sale and none of them are shifting. Never seen anything like this in the 18 months or so I've been investing. Is this a blip or the new normal? Anecdotal evidence suggests this is the 'new normal' for loans with less than 100 days to term. Until it changes. At that point it'll either be " nothing on the SM, can't get invested, moan, moan, moan" or " I invested in this loan expecting to dump at 100 days and now I'm being forced to hold it to term because there are so many new, long dated loans on the PM that the SM may as well be non-existent". I'm thinking it's more likely to trend towards the latter. Existing DFLs are bringing new tranches on at a rate of around one per week and that will rise as new DFL loans are originated. The state of the default loans section may be a concern and giving rise to a reluctance for anyone to buy anything 'old' whatsoever. Lendy don't have an IFISA, so maybe lenders' attentions are being drawn elsewhere. Also, Lendy are significantly increasing their origination volumes, so longer dated loans will abound even if at lower rates than has historically been the case. Out of interest, what are you selling and why? Why am I selling ? Its actually not because I need the money but simply because I am getting nervous. My strategy previously has been to sell at 45 days so that I dont have to deal with potential defaults. My fear is that Lendy have now taken on too many junk loans with dubious valuations. I will see how the next week or so goes and if nothing shifts will certainly give up on investing on the platform. Hopefully I am wrong !!!
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Post by peregrine on Apr 21, 2017 13:40:41 GMT
What is going on with the SM. I have quite a few loan parts for sale and none of them are shifting. Never seen anything like this in the 18 months or so I've been investing. Is this a blip or the new normal? Perhaps saturation point has been reached. Not surprised given so many are defaulted. I'm beginning to get the heeby jeebies and wont be investing any more until I start seeing some more loans redeeming on time and deafaults coming down. Makes me worried that SS is lending without proper due diligence on flaky valuation reports
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Post by peregrine on Apr 21, 2017 13:25:40 GMT
What is going on with the SM. I have quite a few loan parts for sale and none of them are shifting.
Never seen anything like this in the 18 months or so I've been investing.
Is this a blip or the new normal?
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Post by peregrine on Jun 16, 2016 15:43:09 GMT
I'm a newbie so can you help me out. I have been allocated loan parts and want to offload some of them but I thought they were not eligible for sale for 7 days. How did you manage to sell your excess instantly ? You can sell them instantly iff (if, and only if!) your account is in credit. So a) send money (or sell something older than 7 days) to get a +ve balance, then b) sell the parts, then c) send money back again (or re-buy what you had to sell). Ok I'm being really thick but....you say here you can only sell something older than seven days - so how could you offload some of the new loan parts from the last London lot of loans given that they were less than 7 days old. I am soooo confused !!
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Post by peregrine on Jun 16, 2016 11:03:08 GMT
Still plenty of demand for the new loans anyway - having received a more than I really wanted I sold some excess as soon as my deposit cleared and it went instantly.... so that's my funds for today's launch sorted. I'm a newbie so can you help me out. I have been allocated loan parts and want to offload some of them but I thought they were not eligible for sale for 7 days. How did you manage to sell your excess instantly ?
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