btc
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Post by btc on Aug 2, 2017 18:06:11 GMT
Does a 16% Amortising loan equate to an 8% loan? assuming that you do not reinvest?
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hazellend
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Post by hazellend on Aug 2, 2017 18:15:03 GMT
Does a 16% Amortising loan equate to an 8% loan? assuming that you do not reinvest? Unsecured loan by a HNW individual who cannot afford a paltry 39k by herself and willing to pay 16%.
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Post by dan1 on Aug 2, 2017 18:28:23 GMT
Not had the chance to read the proposal but a check of CH and I see the accounts are overdue
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SteveT
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Post by SteveT on Aug 2, 2017 18:53:21 GMT
Makes no sense to me. If her £460k residential property is genuinely unencumbered, why not raise a very low LTV loan secured against it at something like half the rate? I stopped lending against PGs many moons ago and am not about to restart.
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david42
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Post by david42 on Aug 2, 2017 19:04:05 GMT
Does a 16% Amortising loan equate to an 8% loan? assuming that you do not reinvest? While some people might calculate the return as 8%, I consider a 16% amortizing loan is worth 16%. I exclude idle funds when calulating P2P return because the money is not at risk while it is not invested, and high P2P return is primarily rewarding us for putting our money at risk.
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star dust
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Post by star dust on Aug 2, 2017 19:09:38 GMT
I haven't actually looked at this yet, of course I came here first, and it seems there will be absolutely no need for me to rush . It's likely some of my 100 bonus might be sitting there uninvested for the next six months at this rate. I do hope things pick up soon .
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hazellend
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Post by hazellend on Aug 2, 2017 19:52:40 GMT
Makes no sense to me. If her £460k residential property is genuinely unencumbered, why not raise a very low LTV loan secured against it at something like half the rate? I stopped lending against PGs many moons ago and am not about to restart. Could it be that it needs to be a business loan for it to be written off as a tax deduction, so the net % may be significantly lower. I still don't really understand why she didn't just do what you have said though.
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stevio
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Post by stevio on Aug 2, 2017 20:34:22 GMT
3m turnover with only £35k profit, 1% profit margin Might suggest why they cant afford the £39k from business profits...... Forgiving that the proposal says they can manage finance from current operations (£10k short), maybe the new business could boost profits to afford the £45k to pay back Other borrowings, mentions some assets already charged to other lenders And what sort of club is not open on a weekend? ?? huddlecapital if you continue to develop the platform down the unsecured route, you will not get much interest from most on this forum (look into LendingCrowd for the reception that venture received)
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treeman
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Post by treeman on Aug 2, 2017 21:26:15 GMT
<SNIP> It's likely some of my 100 bonus might be sitting there uninvested for the next six months at this rate. <SNIP> Yep - Given the current choices mine will be just fine as cash-on-account for now ..............
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Post by dan1 on Aug 2, 2017 22:05:34 GMT
Hmmm... don't normally have to unblock my broadband for 'tasteless' sites to visit the website of a borrower! And reports of a police raid from 2011 on Google. Not sure this would pass the social responsibility test. I wonder if this venue is included in the Huddle 100 "exclusive events"?
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elliotn
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Post by elliotn on Aug 3, 2017 1:44:20 GMT
And what sort of club is not open on a weekend? ?? This is in the City, Thur is start of the weekend and Fri a biggie before retiring to the 'burbs, it's a ghost town at the weekend. I would suggest Shoreditch or Whitechapel for those that want to continue their East End weekend 😎.
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stevio
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Post by stevio on Aug 3, 2017 6:43:10 GMT
And what sort of club is not open on a weekend? ?? This is in the City, Thur is start of the weekend and Fri a biggie before retiring to the 'burbs, it's a ghost town at the weekend. I would suggest Shoreditch or Whitechapel for those that want to continue their East End weekend 😎. If thats the case, then the profitability of opening over the weekend is low However, not having lived in the city, but often commuted in on the weekends for nights out, its far from a ghost town
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SteveT
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Post by SteveT on Aug 3, 2017 7:40:04 GMT
This is in the City, Thur is start of the weekend and Fri a biggie before retiring to the 'burbs, it's a ghost town at the weekend. I would suggest Shoreditch or Whitechapel for those that want to continue their East End weekend 😎. If thats the case, then the profitability of opening over the weekend is low However, not having lived in the city, but often commuted in on the weekends for nights out, its far from a ghost town I suspect you're confusing the city (eg. West End) with the City (financial district)
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dunlin
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Post by dunlin on Aug 3, 2017 10:34:30 GMT
I'm pretty sure this is for <redacted> Gentlemans club which is in the Adult entertainment business. That, of course, doesn't affect any of the loan characteristics of course, but I'm not lending money to such an outfit.
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Greenwood2
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Post by Greenwood2 on Aug 3, 2017 10:39:59 GMT
You're not meant to post full names of businesses, should be redacted.
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