littleoldlady
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Post by littleoldlady on Jan 10, 2022 19:17:19 GMT
Similar to Qardus but for property loans. They have two loans on offer at present. I registered but got as far as needing a "referral code" which I don't have.
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qwakuk
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Nester
Jan 11, 2022 12:50:00 GMT
Post by qwakuk on Jan 11, 2022 12:50:00 GMT
Similar to Qardus but for property loans. They have two loans on offer at present. I registered but got as far as needing a "referral code" which I don't have. Has anybody invested via Nester ? Assume returns are dividend income and not interest ?
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huxs
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Nester
Jan 11, 2022 13:08:10 GMT
Post by huxs on Jan 11, 2022 13:08:10 GMT
Similar to Qardus but for property loans. They have two loans on offer at present. I registered but got as far as needing a "referral code" which I don't have. Has anybody invested via Nester ? Assume returns are dividend income and not interest ? Just had a quick look, so maybe missing something but what makes them similar to Qardus ? Apart from the webasite design not sure I see any difference from any of the other property platforms.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Nester
Jan 11, 2022 13:34:17 GMT
via mobile
Post by ilmoro on Jan 11, 2022 13:34:17 GMT
Has anybody invested via Nester ? Assume returns are dividend income and not interest ? Just had a quick look, so maybe missing something but what makes them similar to Qardus ? Apart from the webasite design not sure I see any difference from any of the other property platforms. It's a Sharia compliant platform using Islamic finance methods ... murabaha contracts. ... same as Quardus. Isn't particularly obvious on the site though
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huxs
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Nester
Jan 11, 2022 13:52:17 GMT
Post by huxs on Jan 11, 2022 13:52:17 GMT
Just had a quick look, so maybe missing something but what makes them similar to Qardus ? Apart from the webasite design not sure I see any difference from any of the other property platforms. It's a Sharia compliant platform using Islamic finance methods ... murabaha contracts. ... same as Quardus. Isn't particularly obvious on the site though Ok thanks I thought it might but couldn't see it stated anywhere on the platform, maybe need to sign-up before I see that detail ? Stupid question but does a Murbaha contract make it easier or harder to realise the asset if the loan gets in to trouble?
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Nester
Jan 11, 2022 14:09:09 GMT
Post by Penny Pincher on Jan 11, 2022 14:09:09 GMT
Thanks for bringing this platform to our attention littleoldlady . Having had a browse of their well designed website it certainly seems interesting, but if their statistics are up to date then it seems that they've only had two projects, totalling £656k, since their inception in 2018. Coincidentally, the two currently unfilled projects, have a total value of £656k.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Nester
Jan 11, 2022 14:20:05 GMT
Post by ilmoro on Jan 11, 2022 14:20:05 GMT
It's a Sharia compliant platform using Islamic finance methods ... murabaha contracts. ... same as Quardus. Isn't particularly obvious on the site though Ok thanks I thought it might but couldn't see it stated anywhere on the platform, maybe need to sign-up before I see that detail ? Stupid question but does a Murbaha contract make it easier or harder to realise the asset if the loan gets in to trouble? Dont think it makes any difference. The murabaha is just the way of generating a return through a with profit sales contract rather than an interest bearing loan, everything else seems to be the same.
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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
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Post by ilmoro on Jan 11, 2022 14:28:53 GMT
Thanks for bringing this platform to our attention littleoldlady . Having had a browse of their well designed website it certainly seems interesting, but if their statistics are up to date then it seems that they've only had two projects, totalling £656k, since their inception in 2018. Coincidentally, the two currently unfilled projects, have a total value of £656k. They only launched late last year ... permissions only gained in Feb 21
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jan 11, 2022 16:45:52 GMT
Similar to Qardus but for property loans. They have two loans on offer at present. I registered but got as far as needing a "referral code" which I don't have. You have to email them to get an invitation with a referral code. Not sure why this extra step, it can't be KYC as you don't enter personal details until after this. Reasonably smooth registration overall though.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Nester
Jan 11, 2022 16:54:56 GMT
Post by littleoldlady on Jan 11, 2022 16:54:56 GMT
Thanks for bringing this platform to our attention littleoldlady . Having had a browse of their well designed website it certainly seems interesting, but if their statistics are up to date then it seems that they've only had two projects, totalling £656k, since their inception in 2018. Coincidentally, the two currently unfilled projects, have a total value of £656k. Yes p2p platform just launched with two existing loans already running. I suppose the amount being offered is from their own book, or maybe an underwriter's. Anyone joining now will be getting in at the ground floor. My own personal experience has been that this was a successful strategy meaning that I left L, MT and C with a substantial net profit even though I suffered some heavy losses when they collapsed, and roughly broke even on FS. However there may be risks with investing in an unproven platform so make up your own mind.
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Nester
Jan 11, 2022 19:05:32 GMT
Post by Ace on Jan 11, 2022 19:05:32 GMT
What rates are being offered on the two available loans? The website says "up to 9%" but that can cover a large range.
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Nomad
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Nester
Jan 11, 2022 19:09:11 GMT
Post by Nomad on Jan 11, 2022 19:09:11 GMT
There's lots of useful information on their Telegram channel.
Returns are taxed as interest.
Deals are fully pre-funded from their own resources.
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Nomad
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Nester
Jan 11, 2022 19:11:04 GMT
Ace likes this
Post by Nomad on Jan 11, 2022 19:11:04 GMT
What rates are being offered on the two available loans? The website says "up to 9%" but that can cover a large range. 7.2% and 6.8%. Former has only 4 months to run. Both are 1st charge, 75% finance to value. Invest in multiples of £1000.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 11, 2022 20:03:16 GMT
There's lots of useful information on their Telegram channel. Returns are interest. Deals are fully pre-funded from their own resources. I assume they are funding them through a group company to comply with their permissions. No mention of them funding the loans and then novitating them to investors anywhere on their site. Returns are profit, though are taxed as interest. I note there permission restricts them to BTL, bridging & refurbishment finance only
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littleoldlady
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Post by littleoldlady on Jan 11, 2022 21:27:01 GMT
I emailed a query at 21.21 and received a personal reply from the founder at 21.22! How's that for service?
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