fasty
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Post by fasty on Nov 13, 2017 18:47:37 GMT
Nothing like a side line to increase profitability. An opportunity not to be sniffed at ?
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fasty
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Post by fasty on Nov 11, 2017 12:44:07 GMT
In recent times, my investment strategy in FC has been similar to the OP. I kept a few old A+, A and B originally purchased in auction days at high rates, but the majority are selected C, D and E.
And my defaults have also increased considerably and it seems to be getting worse. Many are early failures (<6 months). My portfolio isn't huge enough to prove a statistically significant trend.
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fasty
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Post by fasty on Nov 9, 2017 21:52:26 GMT
For me, presently:
Property (not including the one I live in) 50% Pension AVC (Salary sacrifice, Equities) 20% P2P (FC+ABL+MT+FS(ISA)+LY) 30%
I'm not growing P2P at the moment. I've been putting plenty in pension AVC because it's simply so tax efficient (suspect that little avenue of pleasure may soon be switched off).
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fasty
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Post by fasty on Nov 9, 2017 20:32:40 GMT
Do we include funds in pension AVCs and similar?
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fasty
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Post by fasty on Nov 8, 2017 14:28:33 GMT
Think of a number... then double it ?
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fasty
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Post by fasty on Nov 8, 2017 14:10:00 GMT
I requested a withdrawal yesterday sat 9:34, and it was in my account this morning. Sounds like the process has been speeded up, I don't think I've had a withdrawal land in my account that fast, anyone else? No, it's previously always been slower for me. A welcome improvement!
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fasty
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Post by fasty on Nov 7, 2017 8:13:48 GMT
In comparison, IIRC, both FC and Lendy usually pay next workday morning, and Moneything was also very quick.
I wonder if bank transfer funds input method is cheaper for Ablrate than card payment method? I invariably use card payment because I want to credit my account immediately. Without wishing to steer the discussion towards another thread, I'm thinking that if ABL customers had time to preview loans then they might be more inclined to use bank transfer.
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fasty
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Post by fasty on Nov 6, 2017 19:45:02 GMT
Ahh, investus interruptus.
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fasty
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Post by fasty on Nov 6, 2017 19:37:56 GMT
Well for even smaller hitters... Tranche 4; £65. The interest from that, at predicted completion, should be just sufficient to buy a celebratory pie and chips from the local chippy.
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fasty
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Post by fasty on Nov 6, 2017 13:17:40 GMT
I had a similar uncertainty over on FS. My understanding from the HMRC doc "SAIM 12200 Subsequent recoveries of peer to peer loans " is that this depends on whether you recognised the default in the year it was incurred. Extract (my bold): "If relief has been claimed because the principal of a loan has been treated as becoming irrecoverable, but the lender subsequently recovers any or all of the principal of the loan, then the lender should treat any amount received as peer to peer (P2P) interest received at the time of the recovery"So, if you did receive bad debt relief by virtue of the defaulted loss amount being deducted from your interest received in the affected tax year, then you should just add the recovery to your return as if it was new interest received, as you suggest. If you didn't, then I don't believe you would be under obligation to include the recovery figure in your return. This applies to your £15.78. I'm less sure about your 56p. That sounds to me like it should be effectively disregarded given that you wouldn't have had the tax relief in the affected year and so shouldn't be penalised (in effect) by receiving a recovery later. I would appreciate knowing if others have interpreted the doc the same way too. To me, that would seem a fair way of interpreting it. I shall be using the same understanding in my return.
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fasty
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Post by fasty on Nov 6, 2017 11:48:20 GMT
I really don't know what FC are playing at.
I've got nearly 1% of my funds sitting idle, and there are apparently 4 active loan requests, yet autobid won't use any of my funds.
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fasty
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Post by fasty on Nov 3, 2017 11:50:07 GMT
Lending pixie asleep. Again.
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fasty
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Post by fasty on Oct 31, 2017 15:16:01 GMT
The latest tranche (tranche 17) that went live yesterday started at 0 days and is now into negative days. Can somebody explain to me why this is when there is actually 67 days left before repayment is due? Thanks. Perhaps there will be immediate bonus interest?
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fasty
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Post by fasty on Oct 30, 2017 22:43:35 GMT
I've heard from someone that the loans listed earlier were cancellations because funds were not received in time. Is it usual for Lendy to cancel loan parts one working day after the loan is issued ? For a go-live on Friday, I wouldn't historically expect them to take action if the account was balanced by (say) first thing tomorrow morning (Tuesday). Serial offenders might not get such lenient treatment. Or perhaps LY just want all the funds really urgently and know the SM will provide instant gratification.
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fasty
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Post by fasty on Oct 30, 2017 20:26:11 GMT
Makes me wonder if MT hadn't referenced B*** in the original proposal if we'd be having this discussion now! B*** were linked to the company involved in the ongoing development fiasco in Liverpool so the steps they have taken make sense. The new architect company S**** P*** does not have these links and regardless this isn't the borrowing company although clearly there needs to be a functioning architect firm delivering on the project. If I manage to put aside all the noise from the borrowing company directors recent past and look at this as a standalone project then the next immediate datapoint I'm looking for is the turnover on the units. I'd like to see an update on that showing progress fairly soon as its critical for the exit strategy. The main marketing agent for development has flagged on their website that all the two bedroom duplex units, and all the two bedroom apartments have sold. (Some of these will most likely still be reservations, not legally exchanged) Just one bed apartments remain available. So, someone will be in really deep poo if it remains a tidy pile of rubble I watch with interest. (Hopefully plenty of it)
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