Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Nov 20, 2018 18:53:41 GMT
Thanks to all for their kind messages.
With regards to the general position of P2P as many will be aware selling early with a large discount usually works if initial investment
is chosen wisely and overall returns can easily be 5-8 % tax free outside FISA with no great difficulty.
My own accounts work this way but give a > 15% return as I’m not as squeamish as those just wanting a better than bank return.
This involves a lot of work but I enjoy it.
These strategies require a substantial cash flow within the platform secondary and primary markets.
At the moment with few large paybacks the number of loans for sale at large discount is>80 % of SM as nobody has money to invest/reinvest.
Previously it it has been shown that investing in every loan the same amount gives a fair return (SEE Dan1 posts)
I presume that was based on investing at the start of a loan. If you did the Same but at the end and sum involved included purchase of interest I would think the overall return would be considerably higher as defaults would be the same but APR of successful loans would be nearly double.
It is not simple as loss of interest on loan purchased at the start that fails is theoretical. Interest purchased at the end is actual.
I put this nearly to the test with small amount £6000 and it currently returns 18-20% PA over 18 months
that requires quite a lot of consideration but not a lot of management as loans are bought just befor sale is prohibited
Bottom line P2P is complex in a multitude of ways. It can give steady moderate returns with minimum risk or work or high returns with lots of effort and due diligence.
ONLY invest what you can afford or not miss for several months or years.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Feb 7, 2019 16:15:06 GMT
Update on how my mother’s estate is progressing. Currently the will is being confirmed. (Scottish probate) .Lendy account was available to view but this has now ceased updates are available and staff are very helpful.
Funding circle was unavailable as soon as they were informed. My brother the executor will contact them again on will confirmation.
Funding secure we still have read only access
As we (The beneficiaries) have all FC and FS accounts we hope they can just be equally split. Only 2 of the three of us have Lendy accounts this may be problematic I will update in due course.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Feb 7, 2019 16:28:48 GMT
Update on how my mother’s estate is progressing. Currently the will is being confirmed. (Scottish probate) .Lendy account was available to view but this has now ceased updates are available and staff are very helpful. Funding circle was unavailable as soon as they were informed. My brother the executor will contact them again on will confirmation. Funding secure we still have read only access As we (The beneficiaries) have all FC and FS accounts we hope they can just be equally split. Only 2 of the three of us have Lendy accounts this may be problematic I will update in due course. Could or would the third person open a Lendy account to receive their share?
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pip
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Post by pip on Feb 7, 2019 16:44:18 GMT
Update on how my mother’s estate is progressing. Currently the will is being confirmed. (Scottish probate) .Lendy account was available to view but this has now ceased updates are available and staff are very helpful. Funding circle was unavailable as soon as they were informed. My brother the executor will contact them again on will confirmation. Funding secure we still have read only access As we (The beneficiaries) have all FC and FS accounts we hope they can just be equally split. Only 2 of the three of us have Lendy accounts this may be problematic I will update in due course. Hi Godanubis. I am sorry to hear of your loss. Inheritance is an interesting topic for me in three respects: - Valuation of loans for the estate which are overdue but not defaulted This is a very subjective one. Where there is not an open market for an asset the rules are pretty open to interpretation. Clearly as a beneficiary the lower the valuation the better if estate subject to IHT. Not sure if there are any rules for this but I would say if there are comments to suggest loan won't be recovered then you could argue that the valuation for IHT purposes should be either 50% of even 100% written down. - Transfer of loans which have not completed to beneficiary Do platforms allow you to transfer from a deceased users account to a beneficiaries? I have no idea, what has been your experience? I know there are some funny rules around ISA's, my understanding was that on death the ISA wrapper is removed so effectively on death a investment in an ISA just becomes a non-ISA account. This was for a cash account though (the estate of the deceased in theory should pay income tax on the interest between death and the payment of the estate). - Identification of all p2p/online only accounts by trustee This is a whole different ballgame. Online banking/p2p investments are a nightmare for trustees if the person dies unexpectedly. I had this when my brother passed away a few years ago unexpectedly. All i could do was try to get into his email account and ring around banks to ask if he had an account with them. Sure p2p companies will make a fair bit from users who die and their relatives never knew their had an account, and for that matter users who haven't died but just forget about ever having an account.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Feb 7, 2019 16:50:07 GMT
Update on how my mother’s estate is progressing. Currently the will is being confirmed. (Scottish probate) .Lendy account was available to view but this has now ceased updates are available and staff are very helpful. Funding circle was unavailable as soon as they were informed. My brother the executor will contact them again on will confirmation. Funding secure we still have read only access As we (The beneficiaries) have all FC and FS accounts we hope they can just be equally split. Only 2 of the three of us have Lendy accounts this may be problematic I will update in due course. Could or would the third person open a Lendy account to receive their share? They could but they don’t want to. That would be the sensible solution as it will probably take a few years for some loans to resolve and it would be easy to divide the loans. The cash is no problem.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Feb 7, 2019 17:14:06 GMT
Update on how my mother’s estate is progressing. Currently the will is being confirmed. (Scottish probate) .Lendy account was available to view but this has now ceased updates are available and staff are very helpful. Funding circle was unavailable as soon as they were informed. My brother the executor will contact them again on will confirmation. Funding secure we still have read only access As we (The beneficiaries) have all FC and FS accounts we hope they can just be equally split. Only 2 of the three of us have Lendy accounts this may be problematic I will update in due course. Hi Godanubis. I am sorry to hear of your loss. Inheritance is an interesting topic for me in three respects: - Valuation of loans for the estate which are overdue but not defaulted This is a very subjective one. Where there is not an open market for an asset the rules are pretty open to interpretation. Clearly as a beneficiary the lower the valuation the better if estate subject to IHT. Not sure if there are any rules for this but I would say if there are comments to suggest loan won't be recovered then you could argue that the valuation for IHT purposes should be either 50% of even 100% written down. - Transfer of loans which have not completed to beneficiary Do platforms allow you to transfer from a deceased users account to a beneficiaries? I have no idea, what has been your experience? I know there are some funny rules around ISA's, my understanding was that on death the ISA wrapper is removed so effectively on death a investment in an ISA just becomes a non-ISA account. This was for a cash account though (the estate of the deceased in theory should pay income tax on the interest between death and the payment of the estate). - Identification of all p2p/online only accounts by trustee This is a whole different ballgame. Online banking/p2p investments are a nightmare for trustees if the person dies unexpectedly. I had this when my brother passed away a few years ago unexpectedly. All i could do was try to get into his email account and ring around banks to ask if he had an account with them. Sure p2p companies will make a fair bit from users who die and their relatives never knew their had an account, and for that matter users who haven't died but just forget about ever having an account. Thanks for your kind words. From what we have been told there should be no problems they will distribute according to the will . The only FISA is FS the accrued interest there is only £16000 .The distribution should be after April when hopefully we could transfer the loans to our FISAs within this years allowance. As her whole estate is basically cash investment it’s just a matter of what happens with defaults. I am happy to take over the investment with associated risks . Her inheritance tax threshold was doubled due to my fathers not being used so no problems there. Some FC & FS losses should cover IT bill as with my own investments most her profits were non taxable. If interest paid after death I’m not sure it would be income tax as I don’t think the deceased has an allowance post mortem, I think it gets included in the total for inheritance tax we’re it due. Looking at my my credit account on Noddle and Clearscore it shows every account I ever had and all the details that should be the first port of call for anyone seeking to discovery deceased loved ones accounts.
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pip
Posts: 542
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Post by pip on Feb 7, 2019 18:06:09 GMT
Hi, that’s interesting p2p accounts don’t appear on my credit files.
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Post by brummiefred on Feb 7, 2019 18:24:43 GMT
Following Godanubis comment I have checked my credit history on Noddle and only LandlordInvest shows out of all the P2P accounts that I have. |
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pip
Posts: 542
Likes: 725
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Post by pip on Feb 7, 2019 19:17:24 GMT
Following Godanubis comment I have checked my credit history on Noddle and only LandlordInvest shows out of all the P2P accounts that I have. Maybe it’s like godanubis’ over 15% FS returns...the world works differently for him.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Feb 7, 2019 23:43:49 GMT
Following Godanubis comment I have checked my credit history on Noddle and only LandlordInvest shows out of all the P2P accounts that I have. Maybe it’s like godanubis’ over 15% FS returns...the world works differently for him. It won't show accounts where nobody is required to be notified. HMRC do not get notified of any P2P unless you choose or have a FISA. It will show loans etc, That will have implications for Inheritance Tax. Any P2P that you have an equity stake will be recorded. There are a few places to check such as HMRC website which should allow executor access to get info. For a price you will find it is amazing what is held online. Try here for multiagency check. link
My world is the underworld... Dark and mysterious.
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Post by spareapennyor2 on Feb 8, 2019 6:41:18 GMT
may be of interest free
MSE Credit Club – includes your Experian Credit Report
monthly report
sorry off topic
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Feb 10, 2019 1:01:47 GMT
may be of interest free MSE Credit Club – includes your Experian Credit Report monthly report sorry off topic Don’t worry the oldies here quite often drift off topic. And to sleep 😴 Any useful information is always gratefully accepted.
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