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20% bonus
Dec 16, 2018 10:32:07 GMT
via mobile
Post by gravitykillz on Dec 16, 2018 10:32:07 GMT
I have exited GS not for any bad reason but just a new platform with basically an invoice discounting model. I'm a bit off new and particularly invoice discounting, I may be back after Brexit. Move to lending works. I love that platform.
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zlb
Member of DD Central
Posts: 1,412
Likes: 331
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20% bonus
Jan 29, 2019 23:53:48 GMT
via mobile
Post by zlb on Jan 29, 2019 23:53:48 GMT
I have exited GS not for any bad reason but just a new platform with basically an invoice discounting model. I'm a bit off new and particularly invoice discounting, I may be back after Brexit. Move to lending works. I love that platform. any specific reasons? And is gs really just invoice discounting? b m dropped invoice discounting owing to loss rates. I'm looking around, for AC access accounts alternative (can't believe no other platform offers same).
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cwah
Member of DD Central
Posts: 949
Likes: 468
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20% bonus
Jan 29, 2019 23:58:51 GMT
via mobile
Post by cwah on Jan 29, 2019 23:58:51 GMT
I have exited GS not for any bad reason but just a new platform with basically an invoice discounting model. I'm a bit off new and particularly invoice discounting, I may be back after Brexit. Move to lending works. I love that platform. Whats special about them?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
Likes: 11,068
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Post by ilmoro on Jan 30, 2019 0:10:33 GMT
Move to lending works. I love that platform. any specific reasons? And is gs really just invoice discounting? b m dropped invoice discounting owing to loss rates. I'm looking around, for AC access accounts alternative (can't believe no other platform offers same).
Auto invest, quasi-back box (can see some info), instant acesss 4%, 60day 5%, partners have significant skin in game, low LTV, PF to cover interest but not capital, daily rediversification, Flexible IFISA
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cwah
Member of DD Central
Posts: 949
Likes: 468
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20% bonus
Jan 30, 2019 1:00:56 GMT
via mobile
Post by cwah on Jan 30, 2019 1:00:56 GMT
any specific reasons? And is gs really just invoice discounting? b m dropped invoice discounting owing to loss rates. I'm looking around, for AC access accounts alternative (can't believe no other platform offers same).
Auto invest, quasi-back box (can see some info), instant acesss 4%, 60day 5%, partners have significant skin in game, low LTV, PF to cover interest but not capital, daily rediversification, Flexible IFISA
I've had a quick look at their website and sound like lots of marketing fluf. No disclosure on their lending partner identity.. and even less about the borrower. No disclosure about what they call the 'interest cover fund' amount... It sounda like a nice packaging to put your mobey blindly. I'd largely prefer GS on this in term of transparency.
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mjc
Member of DD Central
Posts: 342
Likes: 425
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Post by mjc on Jan 30, 2019 6:14:11 GMT
You could add - No track record of the risks. But another + is “any loan will normally be between 5% and 50% loan to value.”😀 Against that you can have early access, without effective loss of that lower rate if held 12m+ ie we’d get 4% (flat) by taking instant access on premium account 5% account. “£10 to £250,000 Free access with 60 days’ notice** (or up to 1% fee for early access)” Is there any cost to transfer an ISA out? & what is AER of 5% flat? ie we get interest today on yesterday’s interest. p.s. I thought I’d found the answer:😇 ”Will I be charged for taking money out of my ISA account? Not unless you’re making an early withdrawal from your ISA Premium account. In this case you may be charged up to 1% of the amount you’re withdrawing. Please see our ISA terms and conditions for more details.” but then I read😫 “Can I move my Loanpad ISA to another provider? Of course. You’ll need to contact your new ISA provider, who will then get in touch with us to make the transfer. While we aim to complete all transfers within 30 calendar days, the timings will depend on your new ISA manager. We may charge a fee for transfers to new ISA managers.”Oh dear another shareholding you’ll have to make ilmoro 😏 Minor shareholder in AC, Brickowner, Welendus, Wisealpha, Propifi, Orca, Ccube, Assetz XChange
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IFISAcava
Member of DD Central
Posts: 3,664
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Post by IFISAcava on Jan 30, 2019 8:19:02 GMT
Auto invest, quasi-back box (can see some info), instant acesss 4%, 60day 5%, partners have significant skin in game, low LTV, PF to cover interest but not capital, daily rediversification, Flexible IFISA
I've had a quick look at their website and sound like lots of marketing fluf. No disclosure on their lending partner identity.. and even less about the borrower. No disclosure about what they call the 'interest cover fund' amount... It sounda like a nice packaging to put your mobey blindly. I'd largely prefer GS on this in term of transparency. If only they had an ISA
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IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
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Post by IFISAcava on Jan 30, 2019 8:35:35 GMT
any specific reasons? And is gs really just invoice discounting? b m dropped invoice discounting owing to loss rates. I'm looking around, for AC access accounts alternative (can't believe no other platform offers same).
Auto invest, quasi-back box (can see some info), instant acesss 4%, 60day 5%, partners have significant skin in game, low LTV, PF to cover interest but not capital, daily rediversification, Flexible IFISA
Looks interesting, although hard to see how you an get instant access if your capital is invested in loans some of which may be bad, without some sort of PF/cash reserve for capital as well as interest. The say they "may" charge a fee for ISA transfers out - have asked them for more details. If they do have a transfer out fee it means small toe dipping amounts not feasible.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
Likes: 11,068
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20% bonus
Jan 30, 2019 9:22:42 GMT
via mobile
Post by ilmoro on Jan 30, 2019 9:22:42 GMT
Auto invest, quasi-back box (can see some info), instant acesss 4%, 60day 5%, partners have significant skin in game, low LTV, PF to cover interest but not capital, daily rediversification, Flexible IFISA
Looks interesting, although hard to see how you an get instant access if your capital is invested in loans some of which may be bad, without some sort of PF/cash reserve for capital as well as interest. The say they "may" charge a fee for ISA transfers out - have asked them for more details. If they do have a transfer out fee it means small toe dipping amounts not feasible. Instant access under normal circumstances, ie non default & someone to take loan on. So danger funds will be locked in while defaults resolved like OC. cwah partner identified in basic loan details, currently one who are an established finance lender, no borrower details, ICF size denoted in 'real time' stats. Everyone gets to make their own mind up, just flagging they existed.
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IFISAcava
Member of DD Central
Posts: 3,664
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Post by IFISAcava on Jan 30, 2019 9:26:27 GMT
Looks interesting, although hard to see how you an get instant access if your capital is invested in loans some of which may be bad, without some sort of PF/cash reserve for capital as well as interest. The say they "may" charge a fee for ISA transfers out - have asked them for more details. If they do have a transfer out fee it means small toe dipping amounts not feasible. Instant access under normal circumstances, ie non default & someone to take loan on. So danger funds will be locked in while defaults resolved like OC.cwah partner identified in basic loan details, currently one who are an established finance lender, no borrower details, ICF size denoted in 'real time' stats. Everyone gets to make their own mind up, just flagging they existed. I guess the difference (if I am reading correctly) i that you are diversified across all loans (a bit like AC QAA) - although we don't know how many loans there are - whereas in OC you have a certain number of identifiable loans. So defaults should affect everyone equally in loanpad, but affect you randomly in OC.
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zlb
Member of DD Central
Posts: 1,412
Likes: 331
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20% bonus
Jan 30, 2019 10:56:16 GMT
via mobile
Post by zlb on Jan 30, 2019 10:56:16 GMT
Instant access under normal circumstances, ie non default & someone to take loan on. So danger funds will be locked in while defaults resolved like OC.cwah partner identified in basic loan details, currently one who are an established finance lender, no borrower details, ICF size denoted in 'real time' stats. Everyone gets to make their own mind up, just flagging they existed. I guess the difference (if I am reading correctly) i that you are diversified across all loans (a bit like AC QAA) - although we don't know how many loans there are - whereas in OC you have a certain number of identifiable loans. So defaults should affect everyone equally in loanpad, but affect you randomly in OC. That's the model I like with AC, and what has put me off OC. I use the access accounts (and do DD on other platforms), but I can also see the loans that AC accounts are built with, so when they come up in my emails, I get a rough idea about the borrower/projects. It's difficult to tell, though, quite how one would fair as an AC access account user, against AC others, ie, who comes first in platform closure?
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Post by df on Jan 30, 2019 22:10:55 GMT
Move to lending works. I love that platform. any specific reasons? And is gs really just invoice discounting? b m dropped invoice discounting owing to loss rates. I'm looking around, for AC access accounts alternative (can't believe no other platform offers same). It could be that GS origination strategies are different from BM? I agree, AC access accounts stand out. Such a brilliant idea. The only alternative to Core account BM came up with was 3.35-3.85% bonds - don't know how successful this new product is, but can't help thinking that BM might be a bit out of touch.
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mjc
Member of DD Central
Posts: 342
Likes: 425
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Post by mjc on Jan 30, 2019 22:38:30 GMT
Auto invest, quasi-back box (can see some info), instant acesss 4%, 60day 5%, partners have significant skin in game, low LTV, PF to cover interest but not capital, daily rediversification, Flexible IFISA
Looks interesting, although hard to see how you an get instant access if your capital is invested in loans some of which may be bad, without some sort of PF/cash reserve for capital as well as interest. The say they "may" charge a fee for ISA transfers out - have asked them for more details. If they do have a transfer out fee it means small toe dipping amounts not feasible. Loanpad do charge a fee of £25 for ISA transfers out. This is one of the lower fees of those few platforms that do charge, and on a £5k tester sum should be c. 5 weeks interest. If you re-invest your interest (using 5% rate as an example) then the AER would be c. 5.14%. Over a longer period than 1 year then that would rise significantly.
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mjc
Member of DD Central
Posts: 342
Likes: 425
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Post by mjc on Jan 30, 2019 22:45:51 GMT
I've had a quick look at their website and sound like lots of marketing fluf. No disclosure on their lending partner identity.. and even less about the borrower. No disclosure about what they call the 'interest cover fund' amount... It sounda like a nice packaging to put your mobey blindly. I'd largely prefer GS on this in term of transparency. If only they had an ISA If only. “We are currently actively working on providing an IFISA for our investors. Whilst I can't give an exact date when this will be available we hope to be able to offer an IFISA on the Growth Street platform in the next few months.” I do wonder if they have difficulties with their model, or if it’s just a low priority?
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zlb
Member of DD Central
Posts: 1,412
Likes: 331
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Post by zlb on Jan 31, 2019 11:08:05 GMT
any specific reasons? And is gs really just invoice discounting? b m dropped invoice discounting owing to loss rates. I'm looking around, for AC access accounts alternative (can't believe no other platform offers same). It could be that GS origination strategies are different from BM? I agree, AC access accounts stand out. Such a brilliant idea. The only alternative to Core account BM came up with was 3.35-3.85% bonds - don't know how successful this new product is, but can't help thinking that BM might be a bit out of touch. so give or take, you think GS loan origination is good? I find opinion conflicting as gs is recommended highly in places, but then one finds the usual moans. the b m property bonds seem as if they are aiming for something similar to downingcrd which can have some property bonds at roughly this rate, but usually higher, I suppose. Maybe I'm wrong in that. But wrapping up in a package like that, seems so. I think b m not necessarily wrongly, promotes a certain traditionalism involving a kind of appearance of morality in customer care, and knowledge of finance that might go with the age of fountain pens - is that what you mean? It's whether that is met ... as with all.
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