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Post by Financial Thing on Jul 16, 2015 13:07:08 GMT
Ed
Have you considered lenders being able to use debit cards to fund their accounts as some other P2P platforms do? Maybe the debit card funding is tricky? I would imagine if a faster deposit system were in place, lower bid restrictions wouldn't be that bothersome for those who think it to be hassle to bid smaller amounts.
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Post by Financial Thing on Jul 16, 2015 4:01:06 GMT
Ed...you can't please everyone so I say make the bid amount decision which is best for the continued success of MT.
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Post by Financial Thing on Jul 13, 2015 12:34:56 GMT
Just watched it... yikes! Not sure he's done himself or THC any favours I think this Dragons Den episode is going to be a blessing for anyone who's invested in the House Crowd because it's a unique chance to see where your money is going. I'm not here to bash the guy but his business approach and acumen should be noted. You are placing your hard earned money into the hands of someone who looks like he's flying by the seat of his pants without a plan in place. Plus no profit made in 3 years. A company is only as strong as the people in charge. I wouldn't invest my enemies money into THC.
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Post by Financial Thing on Jul 12, 2015 17:29:13 GMT
thanks for the information.
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Post by Financial Thing on Jul 12, 2015 0:52:13 GMT
Being a landlord myself, I have never, nor will I ever rent to a tenant without a deposit. I can't fathom a property manager entertaining such an idea. I would rather wait for a quality tenant. If a tenant hasn't money for a deposit, chances are they won't be able to afford rent anyways.
Just my 2 pennies worth
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Post by Financial Thing on Jul 11, 2015 13:17:14 GMT
Does the buyback include lost interest or just the principal originally invested in the loan?
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Post by Financial Thing on Jul 6, 2015 21:50:26 GMT
Interesting to compare the responses of FundingSecure and Ablrate to comparable examples of substantially delayed completion and drawdown of a loan. In the case of Ablrate's Containers loan, they have elected to pay lenders pre-drawdown interest at the agreed loan rate as from the date of their original bids. With FS's Shepton Mallet 2nd Charge loan, also now over a month late, we just have the projected completion date sliding repeatedly into the future. I sent FS a message at the weekend to ask if pre-drawdown interest would now be paid on the 2nd Charge loan (as has been accruing on the original 1st Charge loan) but they appear to be ignoring it... SteveT, fundingsecure's priority seems to be posting loans and getting them subscribed. Once the money is in their bank, lenders appear to be forgotten about and woe betide you if some of your loans go late or into default. Information from FS is virtually non existent. The lack of information FS provides on loans is staggering. Their ad slogan should be: "Just throw in £356k on a loan and everything little thing, gonna be alright".
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Post by Financial Thing on Jul 6, 2015 13:38:50 GMT
Hi all Thanks for the messages and apologies for the relative silence for a while. It's been very busy at 'Moose HQ' and I've fallen behind on keeping up to date here. Our policy on phone calls is that everyone that signs up will receive a call, assuming we can reach them. We make three attempts to call, after which we do not want to pester people so stop. We've had really good feedback from people in relation to calls and it is something we are constantly improving on. If anyone does want to speak to one of the team, please just give us a call or send an email with a suitable calling time and we'll be sure to be in touch. For the personal investment service, if anyone is interested here, please send us a short email and our CIO, Stuart, will be in touch to arrange a call. In relation to the question on maintenance, as with any BTL property, any unforeseen maintenance will be paid for by the SPV out of the rent. If there are insufficient funds available (as has been the case once before), Property Moose will make an interest free loan to the SPV to cover the maintenance which will then be repayable on exit. It's worth me pointing out a couple of things here also. The returns we show on the site are calculated assuming no additional maintenance AND the relevant tax deductions being made by the SPV. As we only deal with tax returns at the end of the year, we can't work out the exact tax position each month so we withhold a flat 20% of net rent each month. This excess is held in the SPVs bank account and will be returned to investors once the returns are filed so that month will see a larger payment and 'top up' the yield. At present, we give all investors a document showing the accounts for that month broken down into broad categories. In the next few months, you will see a much needed improvement to this process where you will have access to full accounts for each SPV in real time - an incredible achievement when we crack the tech! This will give full breakdown of costs, even so far as telling you if we've had to get keys cut! Any feedback on this would be very welcome as we are building the tech. Hope that helps but, as always, you can reach me at andrew@ ... propertymoose.co.uk kind regards Andrew That's a great upgrade! Look forward to it.
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Post by Financial Thing on Jul 6, 2015 11:26:51 GMT
There's lots and lots of par Be***y Recr******* @19% available at the moment if anyone is interested. Very tempting, but I've got plenty of that one. Haven't we all? Um no we haven't. Have you looked at their financial statement? Company has lost £32,000 over the last 3 years.
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Post by Financial Thing on Jul 6, 2015 11:22:01 GMT
REBS chose poorly with their website interface. They use Wordpress to run a financial system. No wonder it doesn't work efficiently and the SM market is poor.
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Post by Financial Thing on Jul 6, 2015 9:47:44 GMT
Understood Kev. Will look forward to seeing the results. Could you make a post when these become available?
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Post by Financial Thing on Jul 6, 2015 9:25:15 GMT
I vote £500 with a 4pm start time. Would love to meet up with you Ed but sadly, I'll be laying on a sunny Florida beach
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Post by Financial Thing on Jul 6, 2015 9:15:00 GMT
Kev, if Ratesetter profited a whopping £109k in 2014 and lost £400k in 2013, how is their business model sustainable and whats the profit projection for 2015?
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FundingSecure (FS) in Administration
New Loan Coming
Jul 3, 2015 2:31:28 GMT
Post by Financial Thing on Jul 3, 2015 2:31:28 GMT
Thanks for the explanation.
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Post by Financial Thing on Jul 3, 2015 2:26:33 GMT
thanks for your insight into this subject shrouded in mystery
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