littonowl
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Post by littonowl on Sept 9, 2016 11:18:07 GMT
Hi Vanessa
My parents are both retired and dependent on income from their savings, so naturally quite disappointed by the recent response of banks/BS's eg Santander to the rate cut. However, being in their 70's are quite nervous/wary of the P2P arena.
I like the potential diversification you offer, the asset-backed investments and the fact that you're part of a Group that have been there and done it already, and think you could be ideal for them to park a portion of their savings funds, to help them generate a monthly income. Do you have any promotions in the pipeline such as referral schemes / new customer bonuses that some of the other more passive investment platforms are offering, that might make them a little more receptive to the idea?
Also, any plans to offer this as an IFISA? Again, this is something that would probably appeal to them (and me too!)
Incidentally, just invested my 2nd installment with you this morning, so hopefully my diversification will improve a little as a result...
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 8, 2016 8:57:56 GMT
fine for me (on chrome)..
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 7, 2016 9:47:29 GMT
Interesting post upland, and I share your concerns over diversification, having been assigned just 10 loans with my initial stake.
I held back some cash in case this happened, and like you did, will drip feed cash in to hopefully get a better spread of loans going forward.
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 6, 2016 15:21:21 GMT
Ok, now fully invested (in under an hour, so quite impressive!) with 10 loans of 10% each at a combined rate of 4.84% against the target rate on the site of 5.2%. Was also expecting there to be 20 loans of 5% each, so not sure why it worked out that way, but still reasonably diversified. Not sure if there's any way of manually inputting how much diversification you'd like or whether its fully automated (and presumably just down to loan availability at the time of investment)?
Of my 10 loans, 8 loans were in London/SE, with one in Cambridge and one in Liverpool. Rates range from 3.79% to 6.63%, so quite a variance...
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 6, 2016 14:14:32 GMT
Thanks vanessamain & ilmoro for your answers / confirmation. Vanessa, I hadn't invested, but I have now! Just started with a small pot initially, to see how it goes, but may come back with a little more if I like what I see... Pleased to say the registration process was quick and straight-forward too. I don't have a house number and you'd be amazed how many times that causes registration problems, but happily no such issues here!
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 6, 2016 13:03:19 GMT
I see in the faq's that you can have monthly interest paid into a bank. That could be pretty useful for me in the future, but I'd like to trial an account first with a small pot and build it up with payments being reinvested initially.
Can anyone confirm if it's possible to change your interest payments option, as/when your needs change, or do you have to stick with the option chosen on opening the account?
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 6, 2016 8:53:05 GMT
Thanks for your reply, Gordon. Asset backed and underwritten is the reason I like the jewelery/diamond loans, but adding borrower ID would be great and just adds another level of security in my opinion, as you can now ensure you are sufficiently diversified between borrowers.
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 5, 2016 14:44:19 GMT
bengilbert , aside from being an active P2X lender and on a personal note I have taken time to read a number of your postings and engagements with Money Thing lenders and have to say that I find your whole approach to be a credit to you personally and to the way in which you do business; refreshing would be an apt description. Money Thing and it's loyal lenders must surely be proud to have you with them, nurturing your relationship with them will serve your Business very well in the times that lie ahead. Others may try and entice you away with fine promises however Ben I reckon loyalty is centrally important to all things worthy of respect and relationships born of mutual respect, crucial to everyone. *I like your idea of Risk Splitting, it's a fine concept Ben and one that may have a broad appeal. Best regards. Echo the thoughts of magenta... Likewise think its a nice idea, Ben (though in common with others, I'll need to give it some thought as to which I'd go for!).
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littonowl
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Posts: 398
Likes: 355
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Post by littonowl on Sept 5, 2016 14:38:26 GMT
Many thanks for the updates, Ben.
As a new investor, really appreciate being kept in the loop re: the progress of loans and gives added confidence to apply for any future loans that Broadoak are involved in.
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 4, 2016 13:01:05 GMT
Thanks, james. Yeah, a fair bit of due dil. to do for me before I dive in, but some do look interesting. I did manage to pick up a little more MTF this morning at par, so happy with that. As you say, MT SM completely bare since Friday - here's hoping it picks up again soon!
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 3, 2016 17:07:16 GMT
Debit card payments are completely automatic on any day at any time. Thanks, james. Just made my first small deposit and purchase; some of the MTF Funding Loan on the secondary market.
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 3, 2016 14:29:36 GMT
Anyone know if you deposit funds at the weekend via debit card whether they clear automatically, or need manual intervention for clearance? TIA
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 2, 2016 13:00:57 GMT
Wonder when the 12-month loan option will be available.. The 12 month option is available and open for investment. Are you having trouble accessing it? Thanks, Perhaps macro was referring to the 12 month option, with monthly interest payments..? I've just registered and lent my £20 bonus (thanks very much!) to the 1 year option with interest at maturity, but would prefer monthly interest on the 1 year term (which is still showing as not available?), if I'm to add any of my own money to invest..? Are there any plans to make this available again? Nice site btw, and the registration process was nice and simple and verification quick.
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 2, 2016 12:55:08 GMT
Sigh - yet another site who believes everyone lives on a street I come across this problem regularly too (living in a small, one-road village with no numbers just house names) and its infuriating. However, I've just registered with Orchard and seems they must've addressed it as it didn't crop up for me..
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Sept 1, 2016 11:13:21 GMT
Afternoon, We'll be listing a vehicle at 2pm with a loan value of £20,800 and a £500 bid limit. Many thanks, Gordon Thanks Gordon, only just joined your platform a couple of days ago so apologies if a stupid q, but will you be putting up full details anywhere eg. LTV, duration etc, prior to 2pm?
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