am
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Post by am on Sept 9, 2016 9:10:51 GMT
What asset classes are involved? (e.g. commercial mortgages, bridging loans, residential mortgages, buy-to-let mortgages, property development loans, agricultural mortgages, renewable energy, ...)
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Post by vanessaiman on Sept 9, 2016 10:35:37 GMT
Hi Upland,
We're growing all the time and hope/expect to be at around 40 loans within the next month or so. But it's worth remembering that we're already at the stage where no more than 5% of investors' money will be concentrated in a single loan, which we think provides a good level of diversification.
Best,
Vanessa
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Post by vanessaiman on Sept 9, 2016 10:41:26 GMT
Hi Am, I hope you are well. Octopus Choice is built on one of the oldest asset classes around: secured 'asset backed' lending. We make loans to individuals or companies secured against property. Best, Vanessa |
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littonowl
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Post by littonowl on Sept 9, 2016 11:18:07 GMT
Hi Vanessa
My parents are both retired and dependent on income from their savings, so naturally quite disappointed by the recent response of banks/BS's eg Santander to the rate cut. However, being in their 70's are quite nervous/wary of the P2P arena.
I like the potential diversification you offer, the asset-backed investments and the fact that you're part of a Group that have been there and done it already, and think you could be ideal for them to park a portion of their savings funds, to help them generate a monthly income. Do you have any promotions in the pipeline such as referral schemes / new customer bonuses that some of the other more passive investment platforms are offering, that might make them a little more receptive to the idea?
Also, any plans to offer this as an IFISA? Again, this is something that would probably appeal to them (and me too!)
Incidentally, just invested my 2nd installment with you this morning, so hopefully my diversification will improve a little as a result...
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upland
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Post by upland on Sept 9, 2016 11:51:00 GMT
Hi Upland, We're growing all the time and hope/expect to be at around 40 loans within the next month or so. But it's worth remembering that we're already at the stage where no more than 5% of investors' money will be concentrated in a single loan, which we think provides a good level of diversification. Best, Vanessa Hi Vanessa , I have £850 invested in 21 loans , the biggest is £64 and there are 8 at £50. I think that these are over the 5% so would these holdings be re-balanced in some way soon ?
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am
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Post by am on Sept 9, 2016 12:31:31 GMT
Hi Am, I hope you are well. Octopus Choice is built on one of the oldest asset classes around: secured 'asset backed' lending. We make loans to individuals or companies secured against property. Best, Vanessa That doesn't answer my question. Not all loans secured on property are the same, and I was asking what classes of property loans you provide.
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Post by vanessaiman on Sept 9, 2016 13:02:30 GMT
Hi Littonowl,
I completely understand, we are currently working with the regulator so we can provide IFISA. Once live, you and your parents will be able to earn tax-free interest on up to £15,240 of new investments through Octopus Choice – as well as on any existing ISA balances that you choose to transfer in.
We are also brainstorming ideas for more promotion but will update once live.
Though incidentally, I am happy to hear that you are on the platform!
Please do let me know if you have any questions
Best,
Vanessa
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ilmoro
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'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 Sept 9, 2016 13:08:33 GMT
It says residential property in her original post
Target rate is currently 5.1% so Ive topped up.
Notice that there is now a culmulative interest box/note on how interest works on dashboard - dont think that was there originally
Edit got just under 5% so definately going to be a question of timing for adding funds. Somebody technically clever can devise a way of tracking the target rate over time Im sure
Need a few more of those 8% loans that were available at the beginning please Octopi.
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kaya
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Post by kaya on Sept 9, 2016 13:14:48 GMT
My question is: what is the history of the name? Is it an allusion to fingers in many pies tentacles around lots of loans/investors?  |
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Post by vanessaiman on Sept 9, 2016 13:20:54 GMT
Hi Am, I hope you are well. Octopus Choice is built on one of the oldest asset classes around: secured 'asset backed' lending. We make loans to individuals or companies secured against property. Best, Vanessa That doesn't answer my question. Not all loans secured on property are the same, and I was asking what classes of property loans you provide. Hi Am, My apologies, we secure all residential mortgages, which can be in form of bridge loans, buy-to-let or bridge-to-let. We are also looking to see if we can add additional asset classes. Best, Vanessa
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adrianc
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Post by adrianc on Sept 9, 2016 13:35:23 GMT
My question is: what is the history of the name? Is it an allusion to fingers in many pies tentacles around lots of loans/investors? You'll make a few squid.
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jonah
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Post by jonah on Sept 9, 2016 14:10:09 GMT
My question is: what is the history of the name? Is it an allusion to fingers in many pies tentacles around lots of loans/investors? You'll make a few squid. This thread is starting to get a little fishy. Maybe one of the mods should mussel in and tidy it up, either that or we all need to clam up.
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jonah
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Post by jonah on Sept 9, 2016 14:11:07 GMT
It says residential property in her original post Target rate is currently 5.1% so Ive topped up. Notice that there is now a culmulative interest box/note on how interest works on dashboard - dont think that was there originally Edit got just under 5% so definately going to be a question of timing for adding funds. Somebody technically clever can devise a way of tracking the target rate over time Im sure Need a few more of those 8% loans that were available at the beginning please Octopi. Hmmmm.
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Steerpike
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Post by Steerpike on Sept 9, 2016 14:19:56 GMT
I can't believe that folk are getting suckered in before the ink is dry
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elliotn
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Post by elliotn on Sept 9, 2016 14:28:45 GMT
Hi Upland, We're growing all the time and hope/expect to be at around 40 loans within the next month or so. But it's worth remembering that we're already at the stage where no more than 5% of investors' money will be concentrated in a single loan, which we think provides a good level of diversification. Best, Vanessa My initial toe dip gave 10% per loan. Other investors this week got c20 loans. Is it possible that the website could give a live indication of the amount of loans currently available. Whilst any queueing of deposits/loans may impact final diversification it would at least be indicative. At the moment I'm holding back as we're investing blindly at top-up and I've already had an algorithmic hiccup that has affected my diversification.
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