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Post by wiseclerk on Sept 29, 2015 14:04:24 GMT
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bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
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Post by bigfoot12 on Sept 29, 2015 14:18:38 GMT
Shocking website. I think that I've read it all and I'm still not sure how it works. Looks a bit like a 'Me Too' version of THC or PM, but perhaps with a bit of gearing, or perhaps not. I couldn't find any fees mentioned.
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Post by webbski9 on Sept 29, 2015 17:29:22 GMT
If you register you can read all the T&C's and details of fees.
Seems to run by Paul Howard Michael Toon who controls the majority of the company.
Accounts appear to show a MINUS net worth .Not much to go on .
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bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
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Post by bigfoot12 on Sept 29, 2015 18:31:10 GMT
If you register you can read all the T&C's and details of fees. Fair enough, but I don't give my details to sites unless I like them.
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Post by webbski9 on Sept 29, 2015 20:59:36 GMT
Had a few emails with C.E.O. Paul Toon.
They are concentrating on properties outside the South East similar to Property Moose .They have raised 1.5m from business angels and are currently raising venture capital finance to scale the business further.
Investors can choose between equity and/ or mortgage investment and there is a Secondary Market.They do not charge a property management fee but merely pas on the cost of a local estate agent.You can also upload investment opportunities to them and earn commission.
Their charges:-
Between 0.25 and 0.75 % pa on amount you invest
Transfer fee of 0.50% share transfer fee when you sell.
They charge between 2-3% arrangement fee on each fundraising which is more than covered by the discount obtained on purchase prices.
An interesting alternative to Property Moose.
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