foxy
Quick learner?
Posts: 18 
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Post by foxy on Oct 6, 2015 10:47:37 GMT
Ok so I have been playing with saving stream for around 6 months now (my allotted test period) I now want to complete the test to see if saving strem is suitable for a more major investment over a longer period by withdrawing all/most of the funds.
when I put some funding up for sale I know I stop earning interest but if/when it sells do I get back the capital and the interest it has accrued up to the point it was put up for sale?
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Post by nickthefool on Oct 6, 2015 10:51:33 GMT
When it sells you get the capital, you get any outstanding interest due at the end of the month.
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Post by chrisuk on Oct 6, 2015 11:14:48 GMT
I began investing in P2P's in February this year starting with Funding Circle and Saving Stream.
Results so far: Funding Circle (using Autobid)
Invested £1000
Earnings £60.23
Fees £5.89
Losses £36.65
Net Earnings £17.65
Saving Stream
Investment to date £2600
No Losses No Fees
I know things can change rapidly but it's a no-brainer for me at the moment.
Chris
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foxy
Quick learner?
Posts: 18
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Post by foxy on Oct 6, 2015 12:39:03 GMT
Chris, I know you may not want to disclose your earnings but without your gain from ss it's not yet a no brainer?
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arbster
Member of DD Central
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Post by arbster on Oct 6, 2015 12:46:10 GMT
Chris, I know you may not want to disclose your earnings but without your gain from ss it's not yet a no brainer? Given that SS pay 1% per month on all their loans, and he's had no defaults, assuming Chris invested his full £2600 immediately then the maths are relatively straightforward...
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foxy
Quick learner?
Posts: 18
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Post by foxy on Oct 6, 2015 13:12:31 GMT
For sure!
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Post by chrisuk on Oct 6, 2015 16:50:55 GMT
Chris, I know you may not want to disclose your earnings but without your gain from ss it's not yet a no brainer? Given that SS pay 1% per month on all their loans, and he's had no defaults, assuming Chris invested his full £2600 immediately then the maths are relatively straightforward... Hi Foxy. I have trickle fed a total of £2649 since February and I have worked out I have received £115.32 in interest. I think that is correct although maths isn't my strong point!! Chris
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Oct 6, 2015 19:17:55 GMT
I began investing in P2P's in February this year starting with Funding Circle and Saving Stream. Results so far: Funding Circle (using Autobid) Invested £1000 Earnings £60.23 Fees £5.89 Losses £36.65 Net Earnings £17.65 Saving Stream Investment to date £2600 No Losses No Fees I know things can change rapidly but it's a no-brainer for me at the moment. Chris Oh dear.  Will you be paying 20% tax on those £60.23 gains? That will reduce your £17.65 gain by £12.05, which leaves £5.60 or have you already allowed for that?
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ben
Posts: 2,020
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Post by ben on Oct 6, 2015 19:39:42 GMT
that is quite a lot of loss on only £1000 invested, glad I never used autobid.
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Post by chrisuk on Oct 6, 2015 20:12:28 GMT
I'm a non-tax payer (semi retired, pathetic pension).
Yes, the losses I have suffered on Funding Circle to date are very disappointing, but I'm hoping they will eventually manage to recoup some of the money. But don't forget I am credited with some capital and interest payments each month so hopefully my earnings will gradually increase. I've stopped using the 'Autobid' function by the way!
Chris
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ben
Posts: 2,020
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Post by ben on Oct 10, 2015 20:05:35 GMT
On your figures you with regards to funding circle you would probably be better of just using ratesetter for 5 years 6% chances are no loses/fees (unless goes completely belly up), for the bit extra you might get on funding circle I would have thought probably not worth it. Even before your loses you were looking at 5.5% ish after fees
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Will you be paying 20% tax on those £60.23 gains? That will reduce your £17.65 gain by £12.05, which leaves £5.60 or have you already allowed for that?