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Post by henders on Jul 20, 2016 6:32:54 GMT
I deposited £1K on 13/7.
As of this morning £740 is invested at 7.91%.
Not bad; would hope its all in by end of week, I will then add some more.
Have decided to run my Ratesetter down as its all in 5 years and unless I start now I'll never get it out.
Hopefully BM can deliver on its intentions.
So far I would give it 9/10 but obviously very early days.
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stevio
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Post by stevio on Jul 20, 2016 8:20:29 GMT
I deposited £1K on 13/7. As of this morning £740 is invested at 7.91%. Not bad; would hope its all in by end of week, I will then add some more. Have decided to run my Ratesetter down as its all in 5 years and unless I start now I'll never get it out. Hopefully BM can deliver on its intentions. So far I would give it 9/10 but obviously very early days. Remember fee pay You could easily do this yourself, save fee and same if not better return
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fp
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Post by fp on Jul 20, 2016 9:12:20 GMT
With all due respect stevio, I think the key to this is the log in page on their website... "effortlessly earn 7% PA"I'm earning between 7 and 15% on a range of websites, but it takes time and effort to keep up with the loans and updates etc, the idea of the BM product appeals to me, as i'm sure it does to many others as I can leave this running and pretty much forget about it.
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Post by henders on Jul 20, 2016 10:28:04 GMT
Thanks for the advice Stevio.
But I am invested thru BM in; property bridging, business expansion, invoice discounting, commercial property development, working capital etc.
I'm not sure how many P2P accounts I would need to give me the level of diversification I am getting here or how much time it would take up.
I have a number of financial investments that take up some time; BM doesn't and appears to give me a reasonable rate of return with a good degree of liquidity.
There are lots of things we could do ourselves but are prepared to pay others to do it for us.
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stevio
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Post by stevio on Jul 20, 2016 13:33:13 GMT
Plus BM have suggested in the past that they get given deals not available for regular punters on some platforms plus they also now invest directly so, you cannot necessarily always do better yourself. Sales patter? Fair enough your happy with that level return and don't have time - better than RS
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locutus
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Post by locutus on Jul 21, 2016 12:25:27 GMT
Does anyone have a referral code for BM? I was thinking of giving it a whirl.
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fp
Posts: 1,008
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Post by fp on Jul 21, 2016 12:54:23 GMT
Does anyone have a referral code for BM? I was thinking of giving it a whirl. inboxed you
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Post by henders on Jul 21, 2016 15:29:18 GMT
8 days since my £1K deposit and now all invested at 8.18%.
Will be feeding in some more now.
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fp
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Post by fp on Jul 21, 2016 17:46:25 GMT
8 days since my £1K deposit and now all invested at 8.18%. Will be feeding in some more now. 8.18% Eeek! Before BM's 1% fee? That's barely above their targeted 7% return. Have rates dropped since the idle cash time was reduced? I have one on 8.44 and one on 8.31, a lot better than the bank account it was in before and i'm doing just as little work
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Post by housepriceanalytics on Jul 21, 2016 18:46:30 GMT
Why is mine investing in things at 5.5% and 6% if the target after defaults is 7%?
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fp
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Post by fp on Jul 21, 2016 18:51:37 GMT
Why is mine investing in things at 5.5% and 6% if the target after defaults is 7%? I have those too, but what is your overall return shown at the top of your summary page? Mine range from 5.5 to 15.4, but overall its giving me 8.44%
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Post by housepriceanalytics on Jul 21, 2016 20:39:52 GMT
Overall it's showing as just over 8.3%.
However, allowing for bad loans and the 1% fee, I think I'd rather my money wait uninvested rather than go on any individual loans less than 7%.
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Post by bluechip on Jul 22, 2016 3:52:56 GMT
I think the vast majority of us would want 7%+, but they only have so many deals and so much money to allocate. Those 5.5% will be safer as well and probably in a different platform, all platforms are different and that is what we are paying the 1% for, diversity and their extra DD.
Maybe in the future they will allow us to increase our appetite for risk at the expense of being invested, but I don't mind having a spread at the minute.
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Post by henders on Jul 22, 2016 5:20:52 GMT
Not that I want to do this but I can't see anywhere on the BM site any automated mechanism or information on how to "sell-out" if one wanted to get their money back.
Any idea what the mechanism is?
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david42
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Post by david42 on Jul 22, 2016 8:28:06 GMT
Not that I want to do this but I can't see anywhere on the BM site any automated mechanism or information on how to "sell-out" if one wanted to get their money back. Any idea what the mechanism is? If you click on the Withdraw button (top left of the summary page), it offers the option to liquidate some or all of your funds. I have not used it. I seem to remember the website rather vaguely says they may charge up to 2% for liquidating but I could not find any more specific explanation of this charge.
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