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Post by GSV3MIaC on Apr 10, 2016 17:23:16 GMT
I usually unstick it by buying myself if it stays at >0% sold for a long time .. well actually the bot would do that, were it not for the captcha requirement.
Yes, like you I try to buy round-ish numbers (preferably whole 10s), but even then you get caught - you go to buy £100 and discover it was actually £99.87, rounded up (but not until you own it). Still, it could be worse, we could be dealing in Lira... where 'rounding up' used to involve losing 3 or 4 digits.
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Post by Deleted on Apr 12, 2016 8:53:30 GMT
Do we have a way to invest using Credit Card? I've got a purchase credit card with 0% interest for 24 months and I don't have any plans to buy anything :/
I was thinking to take advantage of it, borrow the whole credit limit (around £10K) and make minimum payment for 24 months and then return the outstanding amount to bank again.
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locutus
Member of DD Central
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Post by locutus on Apr 12, 2016 9:03:34 GMT
Do we have a way to invest using Credit Card? I've got a purchase credit card with 0% interest for 24 months and I don't have any plans to buy anything :/ I was thinking to take advantage of it, borrow the whole credit limit (around £10K) and make minimum payment for 24 months and then return the outstanding amount to bank again. No way currently to deposit via credit card. Credit cards incur high fees and this is unlikely to ever appear on the platform. Also, borrowing to invest is a dangerous strategy and you have no guarantee that you'll be able to sell your investments in 24 months.
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adrianc
Member of DD Central
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Post by adrianc on Apr 12, 2016 14:02:43 GMT
Do we have a way to invest using Credit Card? I've got a purchase credit card with 0% interest for 24 months and I don't have any plans to buy anything :/ I was thinking to take advantage of it, borrow the whole credit limit (around £10K) and make minimum payment for 24 months and then return the outstanding amount to bank again. The card company would probably view it as a cash advance, which is almost certainly not 0% interest.
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stevio
Member of DD Central
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Post by stevio on Apr 12, 2016 18:47:24 GMT
Do we have a way to invest using Credit Card? I've got a purchase credit card with 0% interest for 24 months and I don't have any plans to buy anything :/ I was thinking to take advantage of it, borrow the whole credit limit (around £10K) and make minimum payment for 24 months and then return the outstanding amount to bank again. The card company would probably view it as a cash advance, which is almost certainly not 0% interest. You would need a 'mule" card to get the money to your bank account
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Post by penguinz on Apr 16, 2016 11:30:35 GMT
The FAQ on the first page is a first class explanation of how SS works. I was utterly confused after reading the information provided by SS themselves. Thank you very much to all involved for the work you put in so that even a simpleton like me might understand. :-)
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Post by trevxe on Apr 19, 2016 20:22:02 GMT
New SS lender here. One thing that has been slightly bothering me is not being able to check that charges have been correctly registered and that we as individual lenders may not be protected by the relevant lawyer's professional indemnity insurance. I'm not investing enough to justify buying copies of the Land Registry entries for each property. I found a thread from a while back where SS indicated that they would be publishing letters from the lawyers confirming that security has been properly registered: p2pindependentforum.com/post/109466/threadThis doesn't appear to have ever happened. Please could the SS rep, who I believe frequents this forum, explain why this has not been done? |
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Post by earthbound on Apr 19, 2016 20:36:44 GMT
New SS lender here. One thing that has been slightly bothering me is not being able to check that charges have been correctly registered and that we as individual lenders may not be protected by the relevant lawyer's professional indemnity insurance. I'm not investing enough to justify buying copies of the Land Registry entries for each property. I found a thread from a while back where SS indicated that they would be publishing letters from the lawyers confirming that security has been properly registered: p2pindependentforum.com/post/109466/threadThis doesn't appear to have ever happened. Please could the SS rep, who I believe frequents this forum, explain why this has not been done? land registry docs are £3 , not a lot to alleviate your worries.  (edit) www.gov.uk/search-property-information-land-registry
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Post by trevxe on Apr 19, 2016 22:43:07 GMT
New SS lender here. One thing that has been slightly bothering me is not being able to check that charges have been correctly registered and that we as individual lenders may not be protected by the relevant lawyer's professional indemnity insurance. I'm not investing enough to justify buying copies of the Land Registry entries for each property.I found a thread from a while back where SS indicated that they would be publishing letters from the lawyers confirming that security has been properly registered: p2pindependentforum.com/post/109466/threadThis doesn't appear to have ever happened. Please could the SS rep, who I believe frequents this forum, explain why this has not been done? land registry docs are £3 , not a lot to alleviate your worries. (edit) www.gov.uk/search-property-information-land-registryThanks, but I'm only investing a few thousand at the moment, spread over nearly 20 loans. The cost is prohibitive at those levels.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 19, 2016 23:05:02 GMT
Does any site do this? The company reponsible for the legals on each loan is listed on the loan particulars usually CW who are a major legal firm, occassionaly GT, the same.
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mikes1531
Member of DD Central
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Post by mikes1531 on Apr 20, 2016 13:02:50 GMT
Where would you see the interest earned on a loan sold. Say you sell it on 20th. of month and earned 20 days interest, where would it appear. I can only see interest earned on current holding. Thanks At the next month end's interest run, when it will be itemised in your statement You can see the info sooner than that via your list of sold loan parts. (Though if you've owned the part since the previous month the interest shown will include the interest you've already been paid on that part. You can locate the details in your transaction statement of previous interest paid by searching for the loan part ID.)
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Post by Reged on May 1, 2016 13:06:36 GMT
Thanks for all the helpful stuff on here. I have just signed up to SS and was concerned that I couldn't find the secondary market, but a few posts here put me right (I think). However, SS might consider making this a tad clearer. So all I can see is one SM offering for 80p on a loan that seems to have reached the end. Does this mean we are in a famine period for secondary loans?  |
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on May 1, 2016 13:09:08 GMT
Thanks for all the helpful stuff on here. I have just signed up to SS and was concerned that I couldn't find the secondary market, but a few posts here put me right (I think). However, SS might consider making this a tad clearer. So all I can see is one SM offering for 80p on a loan that seems to have reached the end. Does this mean we are in a famine period for secondary loans? SM are investments that people are selling, and at the moment, the SM is VERY fluid (i.e. many investors looking trying to snatch anything that comes on the SM).
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Post by Reged on May 1, 2016 13:12:07 GMT
Thanks. So basically what you are saying is I need to be on my toes - and fingers!
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Liz
Member of DD Central
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Post by Liz on May 1, 2016 13:15:42 GMT
Thanks. So basically what you are saying is I need to be on my toes - and fingers! Yes we are in a big famine period. What worries me is a lot of loans are due for repayment/imminent repayment, meaning I and other will be left with a pile of univested cash. There is always the 3 yr RS market to invest in!
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