sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Feb 1, 2023 22:12:28 GMT
My outstanding fee is 39% of what I received as the interest in January. Not sure how they work it out. In the last email they said - "Through to end of June 2023 - 2.9% pa of performing loans". 39% pm looks a little bit too high. df It might be higher. If you received interest today your outstanding fee would have started reducing today. Earlier this afternoon my fee was about 51.4% of the interest for January. I've received interest from 4 loans today which has reduced the outstanding fee, it now calculates at 38.28% of the interest for January.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Jan 24, 2023 19:42:54 GMT
I've never understood why we can invest in foreign companies tax free. I have funds in Asia, US, Europe even Russia and they are all in an ISA wrapper.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Jan 23, 2023 11:33:16 GMT
there is a Live DFS turn down event today 17:00 to 18:00 not sure about others but Octopus paying £3.37 for every kWh you save between those times. given the state of some peoples finances I can see people turning everything off and sitting with a candle and a battery radio to get a few £'s of credit. This could be a crazy idea. It's based on your energy saving and very few people will benefit. However, lots more people will think about joining the scheme. To get the best benefit they will be turning on every device they can between 17:00 - 18:00 before signing up. Then they get the biggest saving when they join the scheme.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Dec 19, 2022 15:38:39 GMT
Given the run off, I need to transfer my IFISA at Assetz to another provider (ideally a cash ISA). It needs to be a partial transfer as some of my cash is still invested in loans, any recommendations of someone who will accept this and do it efficiently? I would prefer to transfer to my HL ISA but seems they don't do partial transfers? Partial Transfers should be allowed by most providers, but not if it includes a partial transfer of this year's allowance.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Dec 15, 2022 23:09:40 GMT
Many loans get extended for various reasons, with lenders typically getting an extra 0.25%. I don't see MLA lenders agreeing to that any longer, so borrowers should get charged default interest. This would cancel out the 2.9% fee for those loans. Alternatively, AC could renew these loans with institutional investors.
There is an active vote on loan #514 which is to agree to a 9 month extension with a 0.5% rate rise split 0.25% to lenders 0.25% to AC. I did vote "A" to approve the extension, I have now changed to "B". The loan is due to end in 2 weeks on 31st December 2022. If the extension isn't approved then 3% default interest should be applied. This would cancel out the 2.9% fee.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Dec 15, 2022 12:18:55 GMT
The Assetz Capital platform is no longer open to investment from individual investors. No new investments into peer-to-peer loans are possible and, as a result, no new funds should be deposited. The existing loan book relating to the Retail platform is now in run-off and this will, over time, deliver the return of capital to investors. Full information can be found here . Existing Retail lenders can still log in, view information regarding their account and loan holdings and operate their account in accordance with the information regarding the run-off provided on the link above.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Dec 5, 2022 3:00:23 GMT
Following on from the Electric Auditing post.... Dehumidifiers: thinking of getting one to put in the 'laundry room'. Have been successful in managing to persuade the other half to not use the tumble dryer, but that is giving challenges in terms of getting washing dry/sense of damp in the room currently labelled "the laundry room" (CH not on sufficiently long to solve the problem). So question is: is it worth getting a dehumidifier, from a cost/energy viewpoint. They are actually a bit difficult to get at the moment but are available. The power consumption range appears to be around 250W (albeit that depends on setting). They are also around £150 (a bit less worried about that as I'm sure we can find some other occasional uses for it, plus I'm sure it will last for a decent time). Would we be better off just doing short 10-15min tumble dry before hanging out? Another alternative is a centrifugal spin dryer. Most operate at 2800 RPM, but some go to 3200 RPM which will squeeze most of the water from clothing in very quick time. I would recommend getting an extended warranty, I bought second hand on ebay and it didn't last very long before it started falling apart, although I don't know how much use it had in the past.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Dec 4, 2022 1:58:21 GMT
Is your's a smart meter - can you see in realtime how much it claims to be using? Then wouldn't the quickest way be to turn off all the circuits and add one at a time until you see a sudden unexplained jump? Then concentrate efforts on that circuit to find the culprit. I don't have a smart meter and am thinking about installing one. I currently use a monitoring device that clamps around the meter tails. I find that surprisingly accurate.
Thanks for the info have worked out how much the core things such as dish washer, fridge, freezer, washing machine and computer use. Which should pretty much account for most of the electric use and I am at 25% of my bill (gas is used for heating and cooking). Where the other 75% is coming from god only knows, the electric oven and tumble dryer have both been taped up by me so it cant be that.
No it is not a smart meter just a digital meter that reads down to .1 KWH. How can I get a device to give me a live reading on how many watts it is using in real time? - after some googling I think you must be talking about a clamp meter I will get one.
Even if you heat water with gas you could still have an immersion heater switched on. What about lighting left on the attic, or an old style outside security light with a 500W bulb. Or a power shower.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Nov 25, 2022 23:50:45 GMT
I've invested in several P2P platforms since 2014. At first, it felt like a niche marketplace and was producing returns of over 10%. There was a huge surge in lending in 2016-18 which seemed to coincide with FCA regulation which went hand in hand with IFISA approval.
It has become clear that retail investors were lured into believing that P2P lending was properly regulated by the FCA, this proved to be false. The FCA warnings implied that the risks of P2P lending were dependent on each individual loan. By spreading lending across hundreds of loans the losses on loans that failed would be covered by the good loans.
What actually transpired is that the platforms are the weak point and the costs of recovering a loan book are high. This is because the rules of a company in administration don't work well for P2P platforms. This was an FCA oversight which has severely affected my view of the P2P market. The FCA still fails to recognise its failings and therefore my investor sentiment has been severely dented. I don't see a recovery until the FCA compensates the costs of platform failure and their failure to regulate platforms properly. The first step should be to insure lenders against the costs of platform failure. Instead the FCA are trying to shirk their responsibilities to retail lenders. I don't think the P2P industry will recover, and I don't think the FCA, banks or government want it to thrive.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Nov 19, 2022 17:53:29 GMT
But then you get all the benefits as well. Wembley Stadium, O2 arena, Lords, Twickenham, and of course you are home to British London Airways. I'll take the first 4 as benefits yes, but as for that last one... Don't forget cross-rail. £18,900,000,000. Could buy a lot of pies with that.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Nov 16, 2022 12:22:00 GMT
The odds of a missile accidentally hitting a grain storage depot in a remote area are extremely small, maybe 1000:1 against.
More likely is that Russia typed in the coordinates of the depot and didn't realise it was over the border in Poland, or may be they did know it was in Poland.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Nov 5, 2022 20:02:31 GMT
Not sure if any intervention was required - and, if it had, whether you'd been advised sqh - but I've just been able to make a 'Reply' post (and subsequently delete it). Yes, The thread was unlocked yesterday, but merged and the thread covers more than one Barnoldwick loan. i'll update it anyway.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Nov 2, 2022 16:24:15 GMT
Hi, Admin The thread in FSDD "1st and 2nd Charge Barnoldswick DEFAULT" does not accept replies. It hasn't been updated for 4 years so has it timed out, and can it be reopened?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Nov 1, 2022 12:17:55 GMT
Can someone please state the name and company of the valuer?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Oct 4, 2022 8:30:25 GMT
I met Carl Davies once. I went to the FundingSecure booth at a finance trade show held at the ExCeL centre and we spoke for about 45 minutes. I don't think he knew I was mousey off of the forums though. I've spoken with Carl Davies several times. A very smooth talker, who comes across as though he's playing with a straight bat. However, the reality is he's a very slimy operator and will say and do anything to serve his own interests. He's got a perfect track-record of car-crashing every P2P platform he's run i.e. both FundingSecure and The House Crowd. My understanding from the FS administrators, is that Carl Davies might have been the Director that signed a non-rescindable agreement, on very poor terms, with a firm of receivers just before FS went into administration.
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