david42
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Post by david42 on Sept 16, 2015 12:08:58 GMT
There is a 36m 2.99% fee or 24m 1.89% fee super balance transfer deal (they pay the cash into your bank account rather than needing a balance transfer from another card) with MBNA at the moment I have recently started borrowing 0% cash advances from credit cards to invest in P2P. I opened an MBNA credit card for this purpose and paid the fee for them to pay cash into my bank account which I invested into P2P. I did the same with a Virgin card. No problems. I use a separate credit card for normal spending. I dislike the risk of borrowing to invest, but the returns have persuaded me to take that risk. I hope I won't regret that decision when we have the next market downturn. I don't know how maxing out credit cards will impact my credit score. I used to pay off the full balance every month but now I pay the minimum.
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david42
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Post by david42 on Sept 15, 2015 9:28:42 GMT
I have also never been able to get Verified by Visa to work between Santander and Ratesetter. Every time it failed I would ring Santander and they would authorise it manually and assure me it would never happen again. Like Stardust, I now make my Ratesetter debit card payments from another bank account, which works perfectly but it does not use Verified by Visa.
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david42
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Post by david42 on Sept 13, 2015 23:40:43 GMT
Which Index? Do you want to track the FTSE all share index or the FTSE 100 index? The FTSE 100 index makes up 70% of the FTSE All Share index by market value, but it is biased to global companies in just a few market sectors. The FTSE 100 has underperformed the FTSE All Share Index over the last 15 or so years. Before that the two indices used to stay in line. Unit Trusts and Oeics Your L&G fund is probably their unit trust that tracks the FTSE All Share Index. Following the Retail Distribution Review, Unit trusts are all being required to separate out their platform fees from their fund management charges over the next year or two. The funds are called 'clean' once the platform charges have been removed. So clean funds are a lot cheaper. ThisIsMoney lists 7 unit trusts tracking FTSE 100 or FTSE All Share index all for less than 0.1% pa, and even the L&G clean fund is only 0.16% pa. Then you need to choose a platform. Last time I looked at the Monevator website, the cheapest ISA platform for Unit Trusts was Halifax Sharedealing, at £12.50 per year plus £12.50 per online trade. Transfers If L&G are leaving you out of the market for 14 days they must be doing the transfer as cash. You should be able to insist that L&G do and 'in-specie' transfer of your unit trust to a new platform that accepts unit trusts, then you can switch to a new fund of your choice after the transfer. You will need to decide whether it is worth paying the charge for the in-specie transfer plus the transaction charge for switching funds on the new platform to save losing 14 days in the market. Exchange Traded Funds Exchange traded funds do a very similar job to unit trusts, except that I have not yet found an exchange traded fund that tracks the FTSE ALL Share index. I use Exchange Traded Funds because they were cheaper before the Retail Distribution Review reduced Unit Trust charges. So I put 70% of my money in the Vanguard FTSE 100 exchange traded fund, supplemented with 30% in the more expensive Vanguard mid 250 exchange traded fund, which gives me a close approximation to a FTSE All Share tracker. Samford71 has listed the cheapest Exchange Traded Funds.
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david42
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Post by david42 on Sept 13, 2015 18:00:53 GMT
I have not used buy2letcars. I stopped investigating when articles like this: www.theguardian.com/money/2014/sep/05/buy-let-cars-returns made me concerned that the value of the car at the end of the lease was less than the outstanding debt, and the company did not have the track record to convince me they could make up the difference. Maybe others have found something more positive. I see their 2014 accounts are due to be published on 30 September. It might be worth re-assessing the risk after the accounts are published.
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david42
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Post by david42 on Sept 13, 2015 9:27:16 GMT
Funding Circle, MoneyThing, Ratesetter, Assetz, and Rebuilding Society all allow company accounts.
If you are considering buying shares through your company, first check that whatever system you use to submit your corporation tax returns can handle capital gains. The HMRC free online filing software cannot handle capital gains for corporation tax submissions.
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david42
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Post by david42 on Sept 10, 2015 23:24:23 GMT
Interesting idea. Nice loan to value ratio and nice interest rate. I assume Ed is cutting out the normal underwriting cost, leaving a higher rate to offer to us.
I have said yes. Before investing I will be wanting to see: - what does the security look like if the project goes wrong? (i.e Do they need to demolish a £25m building to build the new building?)
- what interest does MoneyThing have to fight our corner if it goes wrong - what is MoneyThing's skin in the game?
- what happens if the loan is repaid late, and how likely is that? - will the loan fill promptly and get drawn down promptly? Our money could be left stranded for a long time if the loan fails to fill.
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david42
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Post by david42 on Sept 4, 2015 21:55:55 GMT
jimc99 you should be able to see the stuck loan parts listed as unsold or partly sold in the dashboard 'selling/sold loan parts' tab. This listing also shows the loan part number which helps Saving Stream unjam it for you. oldgrumpy unfortunately the oversubscription problem becomes invisible when Fred sells a loan that was oversubscribed. Others can only buy the amount that was not oversubscribed, leaving Fred unable to sell his loan part. The loan now shows as 0% available, hiding the problem. When unsuspecting Oldgrumpy sells part of the loan, Fred finally gets his part sold and Oldgrumpy gets a stuck loan part. I reduce the problem in two ways: 1) When selling some of a loan, I split the sale into several separate parts, selling small parts last. That way it is only the small parts that get stuck. 2) If I have a large stuck part I can shrink the problem if I own some more of the loan and have some cash. I calculate how much is oversubscribed by looking at the unsold percentages in the dashboard 'selling/sold loan parts' tab. I put this amount up for sale then buy the same amount back. My purchase releases my big stuck loan part, and I am now left holding a stuck loan part that is reduced to the amount of the oversubscription. That is as small as I can get it without writing to Saving Stream.
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david42
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Post by david42 on Sept 1, 2015 12:25:54 GMT
Not here either. Can you tell us an example loan number(s) for which it appears and maybe show us an anonymised screenshot? What browser are you using? I use Chrome on a PC. Screenshots attached (I hope). I also use Chrome on a PC and I don't see a Term Sheet tab. Your term sheet display looks like the display I get by clicking the repayments tab. Do you see a difference between the two tabs?
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david42
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Post by david42 on Sept 1, 2015 10:04:34 GMT
I rejected Zopa when it first launched because I did not think the differential over building societies justified the risk. Three things finally persuaded me to abandon building societies in favor of P2P last year: 1) Zopa's appearances on BBC Moneybox boasting how well they had survived the 2008 crash 2) MoneySavingExpert trying three P2P platforms and reporting a favorable outcome 3) Reduction in building society interest rates forcing me to revise my previous strategy of keeping half my savings in building societies.
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david42
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Post by david42 on Sept 1, 2015 8:29:43 GMT
PBL030 has been repaid early. The money is back in my account.
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david42
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Post by david42 on Aug 30, 2015 22:22:19 GMT
We are very happy with this forum! What a fantastic resource. We are considering this: Put all available information including valuations next to the loans in the Pipeline stage. NB they don't come in until late in the process sometimes so we cannot promise to do this for each one.
Allowing people to vary the amount they want to pre-fund in each loan at Pipeline stage or turn it off completely on that specific loan.
If there is oversubscription, then we allocate as stated in our beta PF release.
Once the 48 hr BACS deficit period has elapsed; the unpaid for loan parts will be release back into the general market / or if there was oversubs, offered to those who have cleared their BACS deficit unless they have informed us of any mitigating circumstances.
Thoughts and comments appreciated.
An excellent solution. Thank you for listening to us, Saving Stream.
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david42
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Post by david42 on Aug 29, 2015 20:18:44 GMT
Just tried to put some loans on the SM and had a message "There was a problem putting your loan part(s) up for sale" Anyone else had that. Are the shelves full? I find refreshing the browser screen and trying again clears that problem.
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david42
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Post by david42 on Aug 29, 2015 4:30:01 GMT
IT services company - £50k, 60 Months, C Risk
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david42
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Post by david42 on Aug 22, 2015 12:13:09 GMT
Software as a Service Management Information system; £50K;A Rated; 60 months.
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david42
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Post by david42 on Aug 17, 2015 9:43:20 GMT
I don't have anything to do with plusnet, so I don't think that can be the explanation in my case. It's not even a furrin email address, it's yahoo.co.uk. New loan thread? That's an idea. Yup, I do get the thread update mails.
I was failing to receive Saving Stream bulk emails with my Yahoo.co.uk email address. I set up an email address with zoho.com and asked Saving Stream to move my account to that new address. I now get the bulk emails.
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