|
Post by highlandtiger on Jan 19, 2016 21:26:35 GMT
I had a look at 12.30 just to see how it works and nothing happened, refreshed a few times (seemed very slow) and then decided that it was all prefunded so looked at something else 12.36 showed fully funded. I take it PP idea of time is somewhat flexible? Nice site but I get the feeling that PM is probably a better bet if you dont prefund. Logged on @ 12.30, the sale process did not start till 12.36-12.37, as it came on line (I'm sure I was one of the first in queue as I was refreshing & wanted to get a barometer of the demand), put an order for a small amount (less than £100) in, could not have more than 20 secs at most after the loan initially came on screen but was declined as the whole lot was gone! Puts our moans about SS to shame! Is this the new more improved SS take 2 I wonder? It must have gone to a single big hitter as I cannot believe multiple buyers beat me to it all in the space of 20 secs or so Same thing happened to me. I didn't prefund this one, as cash was tight, and i thought I could get my £100 in it when in went live. I have managed to get some this way every time I have tried until today. Site was very slow, managed to put in my amount, I clicked the box to confirm, and then................nothing. The screen froze, and by the time it righted itself, everything had gone. I seriously had the hump at the time. If I'm not able to get my regular £100 per property on, (I'm trying to put away a £200 a month into PP), then i'm not sure how I'm going to be able to continue to invest with PP. Buying on the SM is not an option as you lose out on the initial capital gains, when a property has been bought on the cheap, and you have to pay an extra 0.5% stamp duty on the SM. Every penny counts with me. I may have to have a rolling float of say £300 waiting ready for the prefund. Looks like I'm going to have to use SS, to keep earning me money in between properties, and shift cash between the two.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jan 19, 2016 21:35:42 GMT
Logged on @ 12.30, the sale process did not start till 12.36-12.37, as it came on line (I'm sure I was one of the first in queue as I was refreshing & wanted to get a barometer of the demand), put an order for a small amount (less than £100) in, could not have more than 20 secs at most after the loan initially came on screen but was declined as the whole lot was gone! Puts our moans about SS to shame! Is this the new more improved SS take 2 I wonder? It must have gone to a single big hitter as I cannot believe multiple buyers beat me to it all in the space of 20 secs or so Same thing happened to me. I didn't prefund this one, as cash was tight, and i thought I could get my £100 in it when in went live. I have managed to get some this way every time I have tried until today. Site was very slow, managed to put in my amount, I clicked the box to confirm, and then................nothing. The screen froze, and by the time it righted itself, everything had gone. I seriously had the hump at the time. If I'm not able to get my regular £100 per property on, (I'm trying to put away a £200 a month into PP), then i'm not sure how I'm going to be able to continue to invest with PP. Buying on the SM is not an option as you lose out on the initial capital gains, when a property has been bought on the cheap, and you have to pay an extra 0.5% stamp duty on the SM. Every penny counts with me. I may have to have a rolling float of say £300 waiting ready for the prefund. Looks like I'm going to have to use SS, to keep earning me money in between properties, and shift cash between the two. I got a bit on the secondary market when first started as I like to diversify but is a pretty expensive way to do it. Like you I intend to pre-fund. PM has reduced there to £10 per investment so could be worth looking at there options and investing in one a month here as they seem to have about 2 or 3 a month anyway. Next one tommorow apparently so will see. If you have a rolling float of £300 that should be enough as is unlikely will get full amount anyway so would probably get a £100 in each which is not bad
|
|
|
Post by highlandtiger on Jan 20, 2016 10:12:49 GMT
With only a 1.97% rental dividend yield, this new geared property may not be as popular as the recent geared properties. Also it seems that geared properties are becoming the norm. I would like a few more ordinary "bought outright" properties to appear as well.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jan 20, 2016 10:25:52 GMT
With only a 1.97% rental dividend yield, this new geared property may not be as popular as the recent geared properties. Also it seems that geared properties are becoming the norm. I would like a few more ordinary "bought outright" properties to appear as well. Looks like geared are the norm. I can see a lot of people buying it to sell on after few months. I will probably skip this one as the investment cost will be more then the 1st year interest and as I do not plan on selling it on in near future probably not worth it. Also I quite like the ones out of the capital as they seem to be bigger blocks so would probably hold value better if property prices went down
|
|
|
Post by highlandtiger on Jan 20, 2016 10:36:02 GMT
With only a 1.97% rental dividend yield, this new geared property may not be as popular as the recent geared properties. Also it seems that geared properties are becoming the norm. I would like a few more ordinary "bought outright" properties to appear as well. Looks like geared are the norm. I can see a lot of people buying it to sell on after few months. I will probably skip this one as the investment cost will be more then the 1st year interest and as I do not plan on selling it on in near future probably not worth it. Also I quite like the ones out of the capital as they seem to be bigger blocks so would probably hold value better if property prices went down The only saving grace for this one is the projected 17.5% capital increase after 3 months, and the fact it is in zone 2 of London, meaning there could be some decent capital rises in the coming years as people flood in to London. I need to have a hard think on this one, as it may be worth holding for a year if you can get say 20% from it in that period and sell then. Whilst the yield may not be attractive to SM buyers, the location just might be.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jan 20, 2016 10:43:29 GMT
I can see a lot of people buying with the intention to sell but when the value goes up and the yield goes down not as many people would be willing to buy it, if the value goes up 10% as suggested then the yield will drop even more. I would think most people that are interested in investing in this one will to begin with and only people new to site will buy in a few months time.
I can see the advantage to buying and reselling it even if at a discount but then gambling that someone wants it. I usually only invest if I am happy to hold the loan for the full period but this case might be too tempting to buy some and sell it at discount in near future but then I would guess a lot of people will be doing that to
|
|
hazellend
Member of DD Central
Posts: 2,361
Likes: 2,179
|
Post by hazellend on Jan 24, 2016 18:45:20 GMT
I've gone for this one despite the low yield. It has a significant discount and the yield is probably ok for this type of property.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jan 24, 2016 19:46:11 GMT
I've gone for this one despite the low yield. It has a significant discount and the yield is probably ok for this type of property. Decided to go for it too, although only asked for the lowest amount hopefully will only get smaller amount but probably will get full amount
|
|
|
Post by highlandtiger on Jan 24, 2016 23:56:52 GMT
I havn't prefunded this, but I will try and get a small piece of it when it goes live, (i'll take a chance getting some of the 10% left after prefunding), I don't think this will be as popular as the last one, so if the website doesn't freeze, I should be able to grab a small slice.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jan 25, 2016 9:14:39 GMT
I am not sure if it will be or not , it might be quite popular with people that want to buy now and try to sell in few months time. I expect they will do another one on Wednesday as they stated in the last email that they had several properties upcoming in near future.
|
|
hazellend
Member of DD Central
Posts: 2,361
Likes: 2,179
|
Post by hazellend on Jan 25, 2016 18:48:01 GMT
65%. I'm quite surprised.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jan 25, 2016 18:54:12 GMT
65%. I'm quite surprised. London ones are usually quite popular see what the next one brings
|
|
|
Post by highlandtiger on Jan 26, 2016 9:38:11 GMT
Lets see if I can snag a piece at 12:30. I'll let you know how I get on.
|
|
|
Post by highlandtiger on Jan 26, 2016 12:34:05 GMT
well it sold out in less than 30 seconds by my watch, but I managed to bag my little piece. Happy with that, although knowing my luck the next one will be a much better property ![:)](//storage.proboards.com/forum/images/smiley/smiley.png)
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jan 26, 2016 19:56:26 GMT
well it sold out in less than 30 seconds by my watch, but I managed to bag my little piece. Happy with that, although knowing my luck the next one will be a much better property I am hoping it will be if not will help PM out with one of there two, only put the lowest amount could in this one
|
|