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Post by highlandtiger on Feb 26, 2016 18:21:12 GMT
I'm quite a small investor. I have about £3.5k in SS with £150 my max per investment. My total free cash to put into savings accounts, ISAs and P2P is just under £200,000. I was thinking of investing in SS until I have £15k in. My OH feel that 15k in SS out of £200k is too much. Obviously we all have our risk/reward ideas, but what are other peoples opinion? Just to make you think, (and remember I'm no financial expert and i'm a massive risk taker.)  If you put £200k in a savings account that gives you lets say 3% interest, after 10 years that £200k would be worth £270k If you put £200k into saving stream with the 12% interest, after 10 years that £200k would be worth £660k I wonder if your OH would change her mind seeing those figures.... But then don't listen to me, what do I know, I'm 50 years old and I've only got a tenth of your money saved, (hence my need to be a bit more aggressive with my investment strategy)
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guff
Posts: 730 
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Post by guff on Feb 26, 2016 21:53:13 GMT
If anyone else started reading at page 4 and is thoroughly confused, I recommend going back to page 1: I did and it all makes sense now. Sort of.
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Post by holmesy999 on Feb 27, 2016 4:45:22 GMT
alright here are my newbie questions / understandings -
1. I have opened an account. I am assuming I transfer some playing money to their sort code and account number with my reference
2. it is sounding like most loans get filled up quickly when they get released (so there aren't many live loans?)
3. As such, I have to find a loan / project that I like (based on the LVR or the supporting documents which might sound good - I guess this is where people might vary on what is good and what isn't?) in the pipeline loans tab by pre-funding.
4. Is there any indication on to which pipeline loans might go ahead quicker than the others?
5. And finally what criteria are most people using to decide that loan / project is good, that one is a dud? is it the LVR (as if it goes t*ts up there is some recovery)?
Thanks
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Post by dodgeydave on Feb 27, 2016 5:36:09 GMT
alright here are my newbie questions / understandings - 1. I have opened an account. I am assuming I transfer some playing money to their sort code and account number with my reference 2. it is sounding like most loans get filled up quickly when they get released (so there aren't many live loans?) 3. As such, I have to find a loan / project that I like (based on the LVR or the supporting documents which might sound good - I guess this is where people might vary on what is good and what isn't?) in the pipeline loans tab by pre-funding. 4. Is there any indication on to which pipeline loans might go ahead quicker than the others? 5. And finally what criteria are most people using to decide that loan / project is good, that one is a dud? is it the LVR (as if it goes t*ts up there is some recovery)? Thanks 1. There is no need to prefund your account. 2. Yes they do move fast. But you can normally pick up on the SM (Secondary market) when a new loan is released. 3. Correct 4. You should receive an email from SS. 5. Afraid a bit of due diligence is required. If it does go wrong SS will sell the asset and hopefully recover our money. They have only had one default which resulted in a 100 % recovery rate.
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Post by holmesy999 on Feb 27, 2016 6:30:25 GMT
when you say there is no need to prefund your account - so does that mean I find a loan I like and then I click "invest", I then need to send the money via direct debit to them? or does there need to be that money already in my saving stream account before I can "invest"?
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Post by dodgeydave on Feb 27, 2016 6:33:46 GMT
Buy now pay later. would be the best way to put it.
I believe you have 48 hours from purchase to pay for it
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Post by holmesy999 on Feb 27, 2016 6:48:49 GMT
last one - are the majority of loans 12 months? and do they usually take the 12 months to repay the money back?
(thanks for all the advice)
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Post by dodgeydave on Feb 27, 2016 6:55:13 GMT
The majority are 12 months. But PBL081 is 6 months.
But the majority over run. Thats why a lot of them have negative numbers alongside them.
But you can hopefully sell on the SM at anytime to get your money back
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Post by goldservice on Feb 27, 2016 8:27:59 GMT
when you say there is no need to prefund your account - so does that mean I find a loan I like and then I click "invest", I then need to send the money via direct debit to them? or does there need to be that money already in my saving stream account before I can "invest"? No, not via direct debit. Use Faster Payments.
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spiral
Member of DD Central
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Post by spiral on Feb 27, 2016 9:39:27 GMT
I believe you have 48 hours from purchase to pay for it How do they play that at Weekends? I can't get money to SS before Tues which strictly speaking is 3 days not 2 which is a problem for weekend launches.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Feb 27, 2016 9:45:42 GMT
I believe you have 48 hours from purchase to pay for it How do they play that at Weekends? I can't get money to SS before Tues which strictly speaking is 3 days not 2 which is a problem for weekend launches. If you accumulate a negative balance on a non-weekday, your 48hr deadline starts on the next weekday. So, if you accumulate a negative balance on Saturday, the 48hours would start from Monday (i.e. due by Wednesday)
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spiral
Member of DD Central
Posts: 967
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Post by spiral on Feb 27, 2016 10:14:39 GMT
Thanks dude. I've just put my PF in.
I didn't want to do that and have to sell to get my allocation paid for as I'm still increasing my investment here.
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Post by GSV3MIaC on Feb 27, 2016 13:21:31 GMT
However the pre-allocation msg for PBL084 asks me to transfer the funds in 24 hours .. did they just change something, or was the reality and the email always out of synch?!
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SteveT
Member of DD Central
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Post by SteveT on Feb 27, 2016 13:25:16 GMT
However the pre-allocation msg for PBL084 asks me to transfer the funds in 24 hours .. did they just change something, or was the reality and the email always out of synch?! The request has always been to transfer funds within 24 hours. If you make a Faster Payments transfer at the weekend, it will likely still hit SS's bank account within seconds. However it won't be credited to your account until Monday at the earliest (it used to be the case that nothing was credited on Mondays either and it took until Tuesday morning, but I suspect that has changed now)
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stokeloans
Member of DD Central
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Post by stokeloans on Feb 27, 2016 20:27:44 GMT
Newbie to Saving Stream here althought not new to P2P in general.
A really basic question for you,terminology.I see some loans are DFL and others PBL.I'm guessing PBL stands for Personal or Property Bridging Loan,is that correct ? What is DFL ?
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