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Post by xyon100 on Aug 12, 2015 9:24:33 GMT
Also wondering what this underwriter business is all about and what the advantages might be. Perhaps another thread though.
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Post by xyon100 on Aug 12, 2015 4:18:40 GMT
Do a new one if you fancy it. Nobody has to take part if they don't want to. I would be interested to know if people are investing millions here.
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Post by xyon100 on Aug 11, 2015 10:50:15 GMT
I know what you mean about the default. I just has Savingstream handle a loan of mine that was in default and I have to say their handling of it was very reassuring, so much so that in many cases I would not have an issue buying parts of a defaulted loan. I have now sent a few Euro to Mintos to give them a whirl....
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Post by xyon100 on Aug 11, 2015 8:41:34 GMT
Ready & able are one thing....the willing will depend on the trust structure for now.. Precisely. I'm very new to the whole P2P thing and I am taking it slowly as I am still assessing true risk. I have so far taken two 10,000 chunks on SS and have around 500,000 I want to get invested anywhere other than in banks. So yes, I suspect you have underestimated just how much serious cash is floating around looking for a home.
And it's not really surprising considering I am being offered more in interest on a single 10,000 Pound risk than I am on a 100,000 sitting safely (?) in my bank.
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Post by xyon100 on Aug 8, 2015 17:52:33 GMT
Ok, thanks. Just dug out more details from the other thread here. Sounds good. My biggest problem is too much cash Euro and places to put it. Not a fan of Bondora.
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Post by xyon100 on Aug 8, 2015 12:36:31 GMT
I'm just looking in to this now. Mostly I like what I see, but when I see a LTV of 70 percent against a 2001 4.1 litre Audi Avante, I wonder how good that security will be in the event of any major engine problem given a new engine is worth more than the complete car? And then another one, LTV of 81 percent on an 800 Euro car. Damn, all it needs is a full service and new tires and it's scrap!
Am I missing something here?
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Post by xyon100 on Aug 8, 2015 12:21:52 GMT
Why would you need to be sent a private message when it comes to UK banks? I and at least one other chap on this thread are UK citizens and because we are not resident, we cannot open a normal UK bank account. You apparently can and that without even needing to visit? Why would the name of the bank be a secret? Come on, no need for the secrecy. Which UK bank will allow foreigners to open an account without so much as a visit, let alone residency?
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Post by xyon100 on Aug 8, 2015 11:31:29 GMT
Yes, it is now restricting my investment even though my initial investment was no problem. Lack of ability to receive text messages does not help. Overseas number.
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Post by xyon100 on Aug 6, 2015 10:15:16 GMT
I for one was very reassured by the way that default was handled, enough to invest significant additional funds.
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Post by xyon100 on Jul 7, 2015 7:01:28 GMT
I'm still not getting the update. A mystery. Thanks for posting this.
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Post by xyon100 on Apr 25, 2015 9:00:40 GMT
As the Stella induced fog clears, I can see I need to be identified. All details filled in as best I can and I get a red X which I presume means it did not work. Best I mail you guys direct then....
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Post by xyon100 on Apr 25, 2015 8:24:17 GMT
Well, I have not put any money in because I can't see how! Following the video instructions and clicking on make a bid whizzes me of to another page where I can't see any way of pledging cash. I also can't see where I am supposed to send the money to. I am slightly hung over though......
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Post by xyon100 on Mar 24, 2015 13:43:20 GMT
Nope, I don't have a letting agent. So what UK contact address do you give your tenant, as legally required? My other UK house, where my brother lives. I'm wondering why you ask?
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Post by xyon100 on Mar 23, 2015 12:18:33 GMT
Nope, I don't have a letting agent. May I ask if you are also not UK resident and have some experience of this? I only recently bought the place and was completely unaware of these "overseas landlord" regulations.
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Post by xyon100 on Mar 23, 2015 0:33:26 GMT
You are confused? Walk a mile in my shoes between the UK, Belgium and the Czech republic.
Oh yes, deducting tax at source sounds all very reasonable unless you don't actually live in the country. For instance, I have a UK property I rent out. According to HMRC, my TENANTS should be deducting 20 percent tax from the rent and be submitting quarterly returns to HMRC. My tenants?! Better, when they do this (IF!) I lose all opportunity to deduct any expenses from that tax, unlike a UK resident landlord. Oh, and then Belgium applies ILLEGAL taxation on the remainder, illegal because no tax would be applied to rental income on a domestic rental property, a flagrant breach of EU rules that will take years to be stopped though the EU courts.
So, going by the UK governments treatment of overseas landlords (they would NEVER have got away with that if it were not applied to a few furriners) I can expect my UK interest payments to be subject to withholding taxation with no opportunity to offset that tax against expenses. The UK government has form for this already.
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