ashtondav
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Post by ashtondav on Aug 5, 2018 14:29:57 GMT
I’m in p2p until the employment situation worsens. 3 months of rises will see me withdrawing.
I know times were different but I did go through the debt tsunami of 2008 with ZOPA and made some money - unlike my shares which went down c30% and took some years to back to base level. And unlike my Icelandic bank deposits which went totally down the toilet until the kind HMG stepped in and saved me.
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ashtondav
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Post by ashtondav on Aug 5, 2018 12:23:08 GMT
The IT is heavily into the USA end of the business (i.e. loan to US SMEs), and probably heavily OUT of UK property, so I can see how the IT could return 5-6% while the UK lenders do somewhat worse. The IT also has the ability (although I don't know if they are using it this week) to borrow to leverage their investment. They are shifting more of their loan book to the UK, and like I said they would have had to alert investors to a deteriorating loan book in their outlook section. They can gear up but I can’t recall if they use gearing at the moment. Anyway, perhaps the rumblers on here who like to choose might as well go to the IT. There are no charges other than the F.C. charges, so it’s like an expert picking the loans AND you get exposure to Europe and the USA. And you can sell everything with a click of a button at, what, £12 via HL. So why hang around here? I guess the only reason is that the IT can trade at a premium or discount. Other than that it provides what the old F.C. provided.
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ashtondav
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Post by ashtondav on Aug 5, 2018 7:48:45 GMT
Were these experiences representative of the whole loan book the F.C. investment trust would be legally bound to issue a warning. From the annual report of the IT on 12th July: Guess the unlucky punters must post here. Or the IT board are lying I suppose without access to the whole loan book experience, anecdote and hypothesis are all we can go on...
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ashtondav
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Post by ashtondav on Aug 4, 2018 7:55:42 GMT
Higher interest rates slow down the economy, increase unemployment and therefore defaults.
look VERY closely at unemployment statistics in coming months, as your defaults will increase with any increase.
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ashtondav
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Post by ashtondav on Aug 1, 2018 11:56:28 GMT
Ongoing...
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ashtondav
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Post by ashtondav on Jul 30, 2018 15:46:23 GMT
I hope whoever was behind the idea has been severely chastised or even sacked, along with the manager who agreed to implement it. I understand the anger but we've all made mistakes in our day jobs and given they appeared to have listened I really wouldn't want anyone sacked for this. Cougar - the paramilitary wing of p2p lenders
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ashtondav
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Post by ashtondav on Jul 28, 2018 12:49:59 GMT
No Mark, the problem is transferring OUT. Not IN.
Clearly they would be efficient about that!
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ashtondav
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Post by ashtondav on Jul 24, 2018 18:27:14 GMT
Yep AC demand Authy for me. Personally I see the biggest risk as AC failure rather than being hacked - pay attention to that, AC. The risk of AC platform failure is WAY BIGGER than being hacked...
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ashtondav
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Post by ashtondav on Jul 24, 2018 18:20:35 GMT
Might as well issue a bond and end this nonsense of the non tax deductable fee which renders the product uncompetititve (as p2p) for any 40%+ taxpayer. Plus ISA.
I would be happy with a return 6% tax free. As long as the muppets don't go down the Collateral "due dilligence" route again....
BM. Sort the business model. Now.
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ashtondav
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Post by ashtondav on Jul 23, 2018 18:36:49 GMT
Ongoing....
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ashtondav
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Post by ashtondav on Jul 23, 2018 16:54:22 GMT
Ah, that bloke Constantine is best mates with FS directors. And he does like a good painting on his bedroom wall.
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ashtondav
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Post by ashtondav on Jul 22, 2018 16:54:58 GMT
Because fees are not tax deductable BM is not competitive for higher rate taxpayers. Shame thats how they built the business model, but paying tax on the GROSS return is just plain daft. I might reconsider if ISAble, just for diversification.
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ashtondav
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Post by ashtondav on Jul 19, 2018 18:06:35 GMT
But where to go? The big boys - ZOPA, FC and RS have all sh@fted lenders to some extent as has AC to some extent. I just want fire and forget accounts paying 6% over 5 years. Lendingworks? Very small, though.
If I can shift money at 5.8% to 6% in RS i'll stick with them. ROlling wouldnt interest me until 4% was consitently achieveable.
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ashtondav
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Post by ashtondav on Jul 19, 2018 14:03:28 GMT
Still no announcement on the Ratesetter's notice board and no mention of it in the daily P2P News.
No e mail to me either. All very odd. you only get the email if you've lent on rolling and reinvested at your chosen rate.
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ashtondav
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Post by ashtondav on Jul 19, 2018 9:21:33 GMT
I'm confused if you've left why the need to comment. Surely just move on with your life? Nothing to troll on the BBC or daily mail websites for you at the moment? I clearly said I’m in the 5 year market! Trouble reading today? I’ve just left rolling, and you pathetically suggest I can’t give the reason why? <redacted personal insults> Doh.
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