IFISAcava
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Post by IFISAcava on Aug 30, 2017 12:21:02 GMT
the 25K is money invested BEFORE scaleback - so a) you will probably be lucky to get 10K invested if you put up 25K - more like 7-8K given recent scalebacks b) the 5% will be calculated only on that 7-8K, so worth less. At least you get 3% on the money while awaiting scaleback details, which is better than on a savings account. Are you referring to 3% interest from autoinvest? no - immediate income when you have pre-invested
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IFISAcava
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Post by IFISAcava on Aug 30, 2017 12:29:54 GMT
"As a direct response to some of your feedback, we’re delighted to announce that from now on, investors will earn income from the minute they commit funds to invest in any ‘New Listing’ property.
No more waiting around for a property to complete before you earn income; your funds will be put straight to work. The rental income will be paid, as usual, on the next 5th of the month. If this falls on the weekend, dividends will be paid on the next working day. This new ‘immediate income’, which is interest paid out by Property Partner, will be paid as a cashback into your Property Partner account on the same day."
Wording suggests the immediate income might even be at 5%, higher than I had thought.
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IFISAcava
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Post by IFISAcava on Aug 30, 2017 12:32:20 GMT
and as it is "cashback", it should be tax-free.
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ding
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Post by ding on Aug 30, 2017 12:47:24 GMT
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snowmobile
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Post by snowmobile on Aug 30, 2017 13:07:22 GMT
Yes that is the case. I queried that point with PP a while ago. Immediate income is only paid on the amount successfully invested after any scale back has been applied. Using Wakefield as an example, say the actual allocation after scale back is only 25%. The income (5.01% for this property) would only be paid on 25% of the total funds pre-ordered that were actually invested. The remaining 75% of funds would not be earning anything at all.
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nrw
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Post by nrw on Aug 30, 2017 13:08:40 GMT
Good luck getting 25% in Wakefield...
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IFISAcava
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Post by IFISAcava on Aug 30, 2017 14:00:10 GMT
Good luck getting 25% in Wakefield... estimates on allocations? Could be 20% or less.
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ding
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Post by ding on Aug 30, 2017 14:59:35 GMT
Bit pointless worrying about the %. I noticed 2x 50K prebuys for Chester on the ticker. Just takes a few large hits to skew the overall figures.
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IFISAcava
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Post by IFISAcava on Aug 30, 2017 21:15:35 GMT
Yes that is the case. I queried that point with PP a while ago. Immediate income is only paid on the amount successfully invested after any scale back has been applied. Using Wakefield as an example, say the actual allocation after scale back is only 25%. The income (5.01% for this property) would only be paid on 25% of the total funds pre-ordered that were actually invested. The remaining 75% of funds would not be earning anything at all. In which case it really isn't "the minute you commit funds" and their statement is extremely misleading. Next time I will wait until the deadline rather than investing early.
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littleoldlady
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Post by littleoldlady on Oct 4, 2017 18:35:58 GMT
5% CB back for Oct on deposits of >£10,000
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ding
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Post by ding on Oct 4, 2017 18:46:43 GMT
5% CB back for Oct on deposits of >£10,000 Only thing I've seen is "We're now offering 5% cashback on all investments of over £10,000 into our latest opportunity in Newcastle". And remember you pay 2% fees, so 3% net.
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hazellend
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Post by hazellend on Oct 4, 2017 19:07:13 GMT
5% CB back for Oct on deposits of >£10,000 Only thing I've seen is "We're now offering 5% cashback on all investments of over £10,000 into our latest opportunity in Newcastle". And remember you pay 2% fees, so 3% net. Where did you see that?
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ding
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Post by ding on Oct 4, 2017 21:05:11 GMT
Email today titled "5% cashback available | Good news as we grow"
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hazellend
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Post by hazellend on Oct 4, 2017 21:43:26 GMT
Email today titled "5% cashback available | Good news as we grow" Thanks, somehow I deleted the email by mistake.
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hazellend
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Post by hazellend on Oct 4, 2017 21:45:07 GMT
My email doesn’t offer cash back. I’ve emailed about it
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