pickles
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Post by pickles on Jun 16, 2017 17:19:54 GMT
LOL - I'm in!
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pickles
Member of DD Central
Posts: 94
Likes: 57
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Post by pickles on Jun 14, 2017 19:54:47 GMT
I bought into it today - the £400 allowed.
It was the low LTV (and hence relatively low risk) that did it for me - yet still a reasonable 11% (and like many others I'm actually broadly reducing my exposure to P2P at the moment). Is there a particular reason for that? And what are you moving into, if that's not an impertinent question
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pickles
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Likes: 57
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Post by pickles on Jun 14, 2017 17:23:13 GMT
How do you know it's the same part?
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pickles
Member of DD Central
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Likes: 57
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Post by pickles on Jun 6, 2017 20:05:39 GMT
I have reached the conclusion that Labour central committee do not want to win this election. What a lousy way to run a campaign. I'm not sure which party's trying hardest to lose, tbh, but they're all giving it a bloody good try. Who in their right mind would want to win it? They will have to preside over the biggest, most expensive, shambles of any government (and there's plenty of competition for that title) with brexit. Any possible benefits won't be seen until well after the next election or even the one after that.
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pickles
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Likes: 57
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Post by pickles on May 29, 2017 11:02:44 GMT
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pickles
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Likes: 57
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Post by pickles on May 29, 2017 9:14:58 GMT
Would you mind sharing these ideas Pickles? -I've finally worked out how to game it to make it one of the safest P2Ps I'm in. No, but I'm sure you can work it out from what I've posted. How is the interest paid on property development, and how does the SM work?
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pickles
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Post by pickles on May 21, 2017 17:41:13 GMT
I've only lost a few quid on this one so can't be bothered following it up. Gobsmacking sums it up: not only did they fail to pay the odd couple of pounds to LR to find out the ownership, they also failed to comprehend how telling it would be to actually admit that in a comment about the default!
I've still got a wodge in FC but I've finally worked out how to game it to make it one of the safest P2Ps I'm in. Once property dries up I'm out.
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pickles
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Likes: 57
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Post by pickles on May 21, 2017 17:39:55 GMT
I've only lost a few quid on this one so can't be bothered following it up. Gobsmacking sums it up: not only did they fail to pay the odd couple of pounds to LR to find out the ownership, they also failed to comprehend how telling it would be to actually admit that in a comment about the default!
I've still got a wodge in FC but I've finally worked out how to game it to make it one of the safest P2Ps I'm in. Once property dries up I'm out.
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pickles
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Post by pickles on May 17, 2017 20:25:11 GMT
What the heck???
How hard would it have been to find out if he owned the property he said he owned? This is far, far worse than a lack of DD, it's incompetence.
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pickles
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Post by pickles on May 13, 2017 17:08:37 GMT
This has to be the dodgiest default on the platform.
Top notch credit score, 70 years trading, just gone from two offices to seven, turnover rising from £1m to £5m over three years, with healthy profits...
They then take out half a million loan plus 200k from FC (plus where else??) and an £800k overdraft and declare themselves bankrupt. I guess as a solicitor you'd know how to get away with it!
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pickles
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Funding Circle (FC)
Hounslow
May 12, 2017 11:56:45 GMT
Post by pickles on May 12, 2017 11:56:45 GMT
According to last note FC promised to update lenders this week.
Given that it's lunchtime now, the Friday exodus to the pub has already started, we are unlikely to hear anything.
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pickles
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Post by pickles on May 7, 2017 17:34:50 GMT
It's net, ie from the summary page recoveries/bad debt
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pickles
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Post by pickles on May 7, 2017 16:48:59 GMT
While not safe I'd be very surprised if you couldn't get out in 6 months, no guarantees though. No fees. SM activity is more prominent on days when there is a new loan, lenders may reduce existing holdings to buy into the new one. 6 months ago people were saying same on Lendy. So if you may need the money why bother. Over 6 months for every £1000 your only talking £50 pre tax difference between a normal bank account and a 12% loan. You probably can exit but why risk it if you have no intention of holding. Well, yes, but that's an argument against investing at all. As I said above, I won't starve if I can't close out my position easily. The fee-free SM as explained by others makes a lot of sense now. Another question: I can't find the stats on defaults, can someone point me in the right direction?
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pickles
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Post by pickles on May 7, 2017 10:42:47 GMT
I gotta be honest, I put a very small amount in TC some time ago, and never returned. I like my P2P relatively simple, like me really, and just found that I needed a near PhD to understand their website/offerings. Bit of a thicko me. I cannot make head or tail of half of the account/loan information, and I have a PhD in physics.
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pickles
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Post by pickles on May 7, 2017 10:34:25 GMT
That sounds amazing. It looks like I should fill my boots. I wonder how long before they change it? I have some cash I may need in six months, it looks reasonable safe to assume I can pull it out if needed (FTAOD I will not starve if it can't be ). Another question: are the loans actually interest-only under the hood, or are they pure bullet with interest pre-funded from the original loan? What I mean is: does the borrower actually pay over the interest each month or is this done from a retention by MT, like the way FC loans work?
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