|
|
Post by solicitorious on Feb 23, 2016 13:51:32 GMT
Seems a lot of new people are coming on board asking basic questions, making the forum a bit chaotic. Perhaps a dedicated thread would help tidy things up.
Maybe merge the "confused" and "remaining time" threads into this, Mods?
|
|
|
|
Post by GSV3MIaC on Feb 23, 2016 15:54:48 GMT
Seems like a reasonable idea to have 'FAQ' thread, however item #1 should probably be
a) Read before writing.
and
b) This forum has a very usable 'search' facility. If you can work Google, you can probably work this too.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
|
Post by cooling_dude on Feb 23, 2016 16:21:20 GMT
To be honest I'm quite happy to answer new users questions when they appear, even if the question has been answered 100 times. I think people just like to take part.
Not afraid of reminding new users of the search function though!
|
|
beechside
Member of DD Central
Posts: 152
Likes: 197
|
Post by beechside on Feb 23, 2016 19:34:35 GMT
I have to say, cooling_dude , that you have been extremely generous and helpful, especially to the newer members. Please find a crisp £10 note attached to the bottom of this post. Feel free to spend it on whatever you want, even a bit of a yacht. |
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 23, 2016 19:47:59 GMT
I have to say, cooling_dude , that you have been extremely generous and helpful, especially to the newer members. Please find a crisp £10 note attached to the bottom of this post. Feel free to spend it on whatever you want, even a bit of a yacht. THANKS!  It will be spent on a nice glass of brandy..... or 2 3 Bottle (Tesco Value) 
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Feb 23, 2016 22:33:44 GMT
Just wondering, can I sell a certain amount of a loan part or do I have to list and sell the whole loan part? E.g. if I have a loan part of £500 and want to only sell £100, is this possible?
Thanks
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 23, 2016 22:35:07 GMT
Just wondering, can I sell a certain amount of a loan part or do I have to list and sell the whole loan part? E.g. if I have a loan part of £500 and want to only sell £100, is this possible? Thanks Yes; you can sell a part of your investment, just as you describe!
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Feb 23, 2016 22:36:49 GMT
Just wondering, can I sell a certain amount of a loan part or do I have to list and sell the whole loan part? E.g. if I have a loan part of £500 and want to only sell £100, is this possible? Thanks Yes; you can sell a part of your investment, just as you describe! Thank you very much for your prompt reply, much appreciated!
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Feb 23, 2016 23:47:54 GMT
I think this this thread was made for me, beacuse I'm to stupid to use the search on my last post  . Thanks guys - this will help us out nicely! For an update on my £100 investments; I now hold 5x £20, including 2 of the new loans. I have gotten used to the prefunidn and selling on the SM. Im actully finding the system quite easy to use (but that might be beaucse of my small investments)! I do have more qustions, i will post here so that the anserwers help other newbies. 1. When is interest paid and do we have to reinvest the inerst in SS or can we withdraw 2. I placed £100 prefund in PBL081 and £100 prefund in PBL082. I asked for £100 for PBL082 and got £100, but only got £44 on PBL081? I understand that the amount that I put is my max, but PBL081 was a larger loan, so why did I not get more. At first I though it was beacuse PBL081 was more popular, but according to SS they both have 1600 investors? Have SS got it wrong? First day of the month (dated last day of the month), you can reinvest or withdraw as you wish Prefunding works in two different ways. if a loan is less than one million it funds from the bottom up ie SS divides the loan by the number of requests and everybody gets that amount, anybody who asks for less the differnce bwtween what they want and what they would have got is allocated amongst those who wanted more. So if the base allocation would be £700, if you aked for less you get what you asked for. If the loan is more than £1mil then the loan amount is divided amongst the total prefunding requests to give a percnetage and everyone gets that % of what they asked for eg 2m loan, 4m prefund, everyone gets 50%, so if you asked for £1k you get £500, if you asked for £100 you get £50 Click on the SS link in my signature below for more useful info Edit: And before you ask, as someone does every month, the interest turns up during the first day of the month when SS run the payment schedule, it wont be there as 12.01am (UK time), so dont panic if you its not there when you check after breakfast (UK time)  (This should be the first entry in any FAQ)
|
|
freddy
Member of DD Central
Posts: 147
Likes: 145
|
Post by freddy on Feb 24, 2016 1:35:46 GMT
Although the passing of your Grandmother is very sad, she has left you with a wonderful opportunity that many young people do not get. You seem very sensible in your approach so try to make sure you stay that way. I would be very cautious with the amount you put in to P2P as it does come with risk. Before deciding how much more you wish to place on P2P I would first identify and protect/secure the amounts you want for University and house deposit. Possibly get some professional financial advice. Maybe you have a trusted family member who is financially astute who cold assist you in your choices. It is important to invest, and of course, you want your money to grow however at your stage in life I wouldn't take to many risks. Others may think differently but my suggestion would be to secure a minimum of £90,000 and then see what you can achieve with the other £10,000. As that £10,000 grows you can make the choice of how you further invest. If you are careful and with a little bit of good fortune, you will be surprised at what you can achieve from that £10,000 over 5 year period. You've been provided with a great start to your adult life. Enjoy it and protect it. I wish you every success.
|
|
nush
Member of DD Central
Posts: 396
Likes: 113
|
Post by nush on Feb 24, 2016 8:59:53 GMT
i would just like to point out that even your secure funds can be made to work for you via bank accounts like santander 123, £20000@3% so do some reading up and make your cash work for you, if you are a none tax payer make sure the bank know that.
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Feb 24, 2016 9:06:26 GMT
i would just like to point out that even your secure funds can be made to work for you via bank accounts like santander 123, £20000@3% so do some reading up and make your cash work for you, if you are a none tax payer make sure the bank know that.You can ignore the last bit as it is no longer necessary.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 24, 2016 9:07:48 GMT
i would just like to point out that even your secure funds can be made to work for you via bank accounts like santander 123, £20000@3% so do some reading up and make your cash work for you, if you are a none tax payer make sure the bank know that. This is good advice, as it offers far more security, and is perhaps more suitable for someone of your age who has less time to invest in a platform like SS. Furthermore, the Santander account also pays 1pc cashback on Santander mortgage payments, council tax and water rates, along with 2pc on electricity and gas bills and 3pc on communications bills including TV and broadband packages; so it is a good choice if you are looking at buying your first home.
|
|
nush
Member of DD Central
Posts: 396
Likes: 113
|
Post by nush on Feb 24, 2016 9:13:17 GMT
i would just like to point out that even your secure funds can be made to work for you via bank accounts like santander 123, £20000@3% so do some reading up and make your cash work for you, if you are a none tax payer make sure the bank know that.You can ignore the last bit as it is no longer necessary. thats true.
|
|
|
|
Post by dodgeydave on Feb 24, 2016 10:04:53 GMT
Hello Everyone I am Shanes Mum, and I am so pleased to see that everyone here is helping him out. I have to point out immediately that Shane is not 16, he is in fact only 13; he found savingstream when I asked him to look into investing his money; but I was thinking more about bonds and saving accounts. When he asked for £100 to try investing, I gave my account details believing he was looking at putting it into a savings account but it actually has gone to savingstream. So now I personally have many (many, many) question’s. First I need some reassurance that this is not a scam. For example I’ve browsed these forums to see mention of Lendy Ltd & Saving Stream; is this to be of concern? Secondly, my son started the account under my name, but is (and will be) in control of all the money; is this legal, and what are the risks? I accept that the 3% Santander a/c mentioned above does look appalling, but not as appalling as 12%, and at the end of the day I want what is best for my son. Shane does indeed have a lump sum coming from my mother (his grandmother) and it looks like it might be a considerable sum. I just don’t want him to risk this money. However if he gets a 12% return, that would be wonderful! Hello Shanes Mum. No it is not a scam. I think it has been mentioed he should be over 18. But i guess thats up to you two. There are other platforms similar to this
|
|
. Thanks guys - this will help us out nicely! 
(This should be the first entry in any FAQ)
