pom
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Post by pom on Oct 20, 2016 19:55:51 GMT
Why would anyone make a bank transfer (assuming they were going to invest it and not leave it idling on the platform)? There is an obvious disadvantage of time lag over a debit card but is there some advantage? for large amounts I think transfers have higher limit Perhaps if you were willing to go the CHAPS route....I've been told the limit on my debit card is that it can only cope with 5 figures....and I don't think there's anything really to stop you doing a couple in quick succession.
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pom
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Post by pom on Oct 20, 2016 17:07:20 GMT
Thats me sorted now , I have 29 loans with the newest at £2.91 which is my re-invested interest (I thought that it was a £10 min ?) , worth waiting for no doubt. I have two loans at £64 (£1K now in total) so its quite lop sided. Yep just noticed that also.. Minimums only on the initial investment I think...otherwise reinvestment would be slow. I noted on the invest button that they currently have 36 loans on offer averaging 5.3% so I just topped up my investment while I was there..
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pom
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Post by pom on Oct 20, 2016 13:27:36 GMT
On the latest, SPV 67, one flipper has bought about £5k and relisted straight away at 1.5% premium. I had watched on the previous 2 that someone listed at a premium at first but then had to drop to over 2% discount as they probably got desperate to sell (in just a few days). I didn't realise that the CGT reporting would be that complicated pom - I thought PM would have a tax report to calculate it all in one go? I suggested to them a couple of months ago that if they were launching an SM it would be really nice if they'd work out a way to auto-generate them for us, but as yet we really don't know what they might provide given the SM has just launched, and we're only just getting to the first end-of-terms so no-ones had any capital transactions to report yet. And the vast majority of investors probably won't need to worry about it anyway. It may even be that so few are likely to be affected (unless you make 11k of gains or sell 44k of assets in a year you don't need to worry) that it won't be worth them doing....I really hope they do, but I'm keeping notes in readiness as I'm already having to manually calc for ABLrate which is significantly more complicated just because other non-p2p stuff pushes me over the reporting boundary. Should be pretty easy for PM but I wouldn't want to have to do it for hundreds (thousands if flipping really takes off?) of £10 share SM transactions (so I don't intend to ever sell any). I have a nasty feeling that if a flipper is selling at a loss its because they anticipate being in a position to be able to offset that loss (so haven't really lost out anyway)...but that really sounds like far too much work for the gains to me
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pom
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Post by pom on Oct 20, 2016 12:05:38 GMT
Why would anyone buy on the SM at all? Because they want to diversify quickly, older properties may have been listed before they joined, for newer ones they may have missed the window thanks to what would appear to be opportunistic flippers. I find myself rather bemused at the flippers...is it REALLY worth it? If they're doing it on a small scale they're not going to make much, if they're trying it on a large scale then they're undoubtedly going to end up with a nightmarish CGT reporting task (especially with the £10 shares). All for a fair degree of effort and a risk of ending up stuck with something they may not actually want. Well whatever floats your boat I guess.
I'd be very surprised if (m)any of the highly priced ones ever actually sell. My gut feel is that 10% on top of what was paid may end up being about the limit, and only then if the property is proving to be performing well, otherwise there's no scope left for the buyer. That's certainly the highest I've sold at so far and that was on a really great performing property (SPV 23)
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pom
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Post by pom on Oct 19, 2016 20:51:53 GMT
Don't forget to include in your calculation the opportunity cost of having your money locked up there instead of somewhere paying 8-12% interest over the period I'll worry about that AFTER I've got my initial capital back (not like I'm gonna suddenly change my mind to stick around after all, so becomes academic)
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pom
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Post by pom on Oct 19, 2016 20:26:41 GMT
LOL... I wish.. 191 to go and nope I hadn't counted the tax
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pom
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Post by pom on Oct 19, 2016 18:53:07 GMT
Well I was thinking both? (for extra choccie opportunity) Besides didn't we do mode age last time?
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pom
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Post by pom on Oct 19, 2016 18:20:50 GMT
Time for a choccie bar to guess the medians ?
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pom
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Post by pom on Oct 19, 2016 14:58:54 GMT
Sure. 58.2% of our 2,101 registered lenders are currently invested in at least one loan. Thus, average holding per lender is c. £8,500 (min. £1, max. £645k). Regards, Ed. I am definitely not the £645k investor! Any takers for MT's best customer? Nope! But on the bright side I'm quite sure I have a much more diverse/balanced portfolio than they do
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pom
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Post by pom on Oct 19, 2016 14:51:09 GMT
Hi I did appreciate your recommendations but after looking at the markets I have come to the conclution to get a better rate I will need to invest a little time, I have signed up to MT and will be drip feeding the account with funds and I will just bid small amounts on each loan as it becomes available, I spoke with MT and they we very helpful. Keith OK Good luck - at least with MT we get good info ahead of time on new loans and they always start bang on time so you can easily plan.
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pom
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Post by pom on Oct 19, 2016 12:41:06 GMT
Disabled again so I guess(hope?) they just have a really slow manual process for early repayments.. It's gone from Current Investments, and now showing as Fully Paid in Previous Investments, with the full value showing as paid in the statement... <happy bounce> Hurrah! <hits withdraw> Only another £191 to go to get back my original capital (should probably clarify that I've been withdrawing a bit over the year - my SM sales haven't been THAT successful!)....and then we'll see about any profit...
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pom
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Lending Crowd
K***b**
Oct 19, 2016 10:37:27 GMT
Post by pom on Oct 19, 2016 10:37:27 GMT
Disabled again so I guess(hope?) they just have a really slow manual process for early repayments..
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pom
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Post by pom on Oct 19, 2016 10:30:07 GMT
Morning, For your interest. In terms of lenders who have registered with us in the last 30 days, the largest lender holding (registered on the 29th September), is just under £60,000 invested across 11 loans. Kind regards, Ed Interesting... but unfortunately it still isn't going to be what Keith wants p2pindependentforum.com/thread/6836/deposit-forget-peer-account Guess he didn't like our recommendations.
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pom
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Lending Crowd
K***b**
Oct 19, 2016 10:21:45 GMT
Post by pom on Oct 19, 2016 10:21:45 GMT
WTH? After all that it looks like K***b** has just made the normal payment and the SM is re-enabled.... with no updated comments (yet?)
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pom
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Post by pom on Oct 19, 2016 10:05:23 GMT
Hi, I am totally new here and would like some help, does Mt have an auto bid option and how quickly can I get money invested, via autobid or secondary market, I take it there is a bidding process to invest? And does the secondary market have much liquidity to sell loans if required? Thanks Keith Worth investing yes. Suitable for you, not really - completely manual, SM generally v liquid with not much avail for long
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