Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Mar 18, 2018 20:26:24 GMT
Website will not work for me. Any other website works fine. Seems fine to me - try CTRL + F5?
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Mar 6, 2018 20:12:47 GMT
I distinctly remember checking it out last summer and everything was in order according to the FCA register at that time. That’s the problem with on going checks. If you invest in multiple platforms, in order to know changes like these on a daily basis, it’s almost like a full time job to check all sources for all platforms you interested in. If only FCA can provide a notification of change service. Their data download service cost 1600£. Perhaps a google sheets would help? e.g. 1) get the direct url of the platform 2) use formula =IMPORTHTML("http://fca-consumer-credit-interim.force.com/CS_RegisterSearchPageNew?accId=633741","table",3) replacing the url with the platform you want (the above is ratesetter). 3) put all these checks on one/several working tabs then have a main page just showing a summary of all OR have a script to copy and paste into a history tab and schedule to run each day
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Jan 1, 2018 16:51:41 GMT
I did ask, but they just said 'Unfortunately, this offer is now closed and we are no longer issuing the chocolate bars.'
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Dec 12, 2017 17:08:54 GMT
I never did get this chocolate :-(
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Dec 7, 2017 15:01:05 GMT
dan1 - I left a scrape running with the intention to redo the report at some point. Following cobi 's lead I've put my historical data here - docs.google.com/spreadsheets/d/1bc2V9WiMad9ObEpKmnD7aMr2TqJhq_guWxYMJRqG_3M/edit?usp=sharingcopacetic - this may be similar to what you are looking for for historical data. If you put it into excel, filter to just show the coverage ratio and then plot a graph against time it will give you a useful historical view. It covers Sep 2016 to Oct 2017 - though after that a website update has broken most of the fields. Please note it is the raw data scraped off the statistics page on the website, so there may be some errors.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Dec 7, 2017 9:07:27 GMT
Most EU P2P platforms require you to make at least the first transfer from your UK bank account to satisfy KYC checks. Some UK banks charge quite a lot for an EU transfer, which puts you off if you just want to top up 100 euros to try it out. Mine charge £12 or so for each transfer, before any exchange rate spread. I have been using a smartphone app called Revolut to make these transfers for free. Afterwards you can continue to use the Revolut app to exchange and transfer the money, or something like transferwise. ( more details on my blog)
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Property Moose
SPV 84
Nov 25, 2017 6:20:32 GMT
jnm21 likes this
Post by Neil_P2PBlog on Nov 25, 2017 6:20:32 GMT
My basic calculations:
Final Purchase Price: £163k Less Sales Fees and Legals (£1.5k)
Less Equity Investment (£148.6k - this includes all costs: financing and PM purchase fees, legal, valuation, auction, accounting fees, stamp duty & renovation costs) -------------------------------------------------------- Net Return before PM Profit Share £12.9k
Less PM Profit Share of 15% (£1.9k)
Total Net Return to Investors: £11k Total Equity: £148.6k
Net Return % to Investors = £11k/£148.6k = 7.4% (Over ~6months, NOT the annualised figure)
Have I made any obvious mistakes in this calculation, since it is far from the 3.46% from PM?
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Nov 22, 2017 15:16:46 GMT
An FCA sandboxed startup are creating a bond using an Ethereum smart contract ( www.coindesk.com/who-needs-a-csd-nivaura-to-issue-first-regulated-bond-in-ethereum/). As I understand it, this will automatically manage the loan conditions (and trigger a default) according to pre-agreed rules. They are still using a 3rd party to manage the debt in the case of a default. Would something like this ever be practical for P2P Lending? My thoughts on how something like this could work: 1) Small businesses list their loan/ details on a decentralised platform. There would need to be some smart ways to detect fraud. 2) Investors discuss merits and share DD. Perhaps there could be some sort of monetary incentivisation (e.g. micro-tipping for upvotes). 3) Investors fund the best loans. There would probably have to be a Ethereum:GBP hedge built in to avoid volatility. 4) Smart contract manages repayments. Transfers ownership of underlying assets to investors if conditions not met. Then in the case of default either 5a) 3rd party manages default for initial investors as agreed earlier 5b) marketplace for defaulted loans, where 3rd parties bid a % upfront on the entire loan and then manage the default themselves. Investors can vote to take the offer or hold out.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Nov 14, 2017 13:18:17 GMT
If you google for 'FIRE' (financial independence, retire early) you can find lots of motivating blogs in a similar vein to this one.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Nov 8, 2017 12:59:23 GMT
Vote result was as follows Option A: 4.36% Option B: 4.34%
Given the closeness of the vote, the percentage was counted to 30 decimal places which is the maximum permitted by Excel.3 decimal places would obv hav done it but AC just love that shrapnel Excel is not reliable to do checks at that type of accuracy anyway, e.g.: A1: 0.000123456789012345 B1: 1 C1: =A1+B1 Excel answer: 1.00012345678901 Source/Explanation: support.microsoft.com/en-us/help/78113/floating-point-arithmetic-may-give-inaccurate-results-in-excel
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Nov 3, 2017 8:09:41 GMT
On the investment descriptions on all of the 'flipping' properties it has "If the property has not been sold or a sale has not been agreed within 12 months, the property will be advertised for rent and move to a yearly buy-to-let investment, unless 75% of the equity investors vote that it should be auctioned."
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Oct 30, 2017 16:55:23 GMT
I thought the 3% cashback was just for the automated portfolio investments?
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Oct 21, 2017 13:34:38 GMT
Hi jester I only noticed your thread recently and as I was not in a team joined yours. (Martini) I have been lending on Kiva for 10 years and I post my stats (below). As you can see my bad debt, over 10 years, is a minimal 0.26% ($15.21) I wish I could say that my lending on PtoP in the UK over the same period was as low. Considering that the people we are lending to are struggling in third world economies I am always amazed at how conscientious they are at paying back their loans. Amount lent $3,275.00 Amount repaid $2,712.99 Amount lost $15.21 Amount refunded and expired $100.00 Delinquency rate 0.26% Amount in arrears $1.15 Outstanding loans $446.80 Default rate 0.23% Amount defaulted $6.08 Amount ended $2,600.00 Currency loss rate 0.28% Amount of currency loss $9.13 I think part of the reason for the low default rates are that the intermediaries absorb the bad debts to encourage ongoing investment.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Oct 18, 2017 17:18:23 GMT
From what I took from watching my MF portfolio versus tracker funds, they seemed to use some currency hedged ETFs, which wasn't a good bet with the fall in the pound. I would be very interested to see if others are finding they are underperforming standard low cost ETFs and if so what they deduced the possible reasons were. Last time I looked I could not find any open performance data.
Personally I think MoneyFarm is perfect for people starting out with investing, who can only afford to add a small amount each month, and who would make the most of the fee free limit on the first 10/12/20k depending on how you signed up.
I'm not sure what motivates a rise in fees when their passive index ETF competition keeps getting cheaper and cheaper. I read that one low-cost ETF provider has now made up their own index to cut out the licence fees to S&P/FTSE etc. Perhaps MF are deciding to choose their battle on ease-of-use/customer service/workplace pension rather than cost?
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Oct 11, 2017 12:12:43 GMT
It appears the new PP student investment is available for investment on a first come first served basis (with no scale back) before the full details come out. Email says 66% of this £3m+ deal has been 'advance committed' in this 'advance prefunding'.
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