littleoldlady
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Post by littleoldlady on Jun 5, 2019 7:27:44 GMT
I think the whole thread is a bad idea. It's like turkeys voting for Xmas. (sorry ashtondav) It may be a bad idea for those with money stuck in the platform. It may be a good idea for newbies who are considering investing. As one of the former I am not happy with the idea that it would improve my chances of recovery if more suckers were enticed into the FS mire.
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littleoldlady
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Post by littleoldlady on Jun 4, 2019 15:14:56 GMT
Yes, I do try to do that, but keeping up with 26 platforms is pretty consuming. And not helped by the fact that the Recent-T list doesn't show which platform a comment relates to (phase can someone with some relevant programming knowledge have a go at fixing this?). I have fairly drastically reduced the number of platforms I use, partly because of more perceived risk and partly just because it does become too difficult to keep track of them properly. I have taken the opposite view and invest in as many platforms as possible for diversification. You are right about the time overhead - it helps if you are retired.
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littleoldlady
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Post by littleoldlady on Jun 4, 2019 15:00:42 GMT
wengyeeRelendex if it's possible to do so it might set minds at rest if you could give some indication of what is going on.
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littleoldlady
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Post by littleoldlady on Jun 3, 2019 14:58:44 GMT
Another possibility is that this is the underwriter of the loans.
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littleoldlady
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Post by littleoldlady on Jun 3, 2019 7:27:40 GMT
LB bloody made sure the companies were insolvent before he finally threw in the towel to leave 0ne almighty mess for the administrators to try and unravel. Yes and there are lots of ways he could do so legally and within FCA rules unfortunately. Let's hope he made a mistake somewhere.
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littleoldlady
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Post by littleoldlady on May 31, 2019 16:36:30 GMT
Very impressive update with only 3 SPVs remaining to be redeemed. The first 3 years of PM was pretty poor but you have to say that the team that has been in place for the past 12 months or so have really picked up the pieces and delivered what they said they would. Some other platforms could do with some of the same I agree. Monthly updates every month on-time. Seems to be progress on most of the properties under their control. Offer to invest more- or to remove investment as you wish (albeit possibly less than was initially invested). I was quite concerned when it all first happened, but impressed so far. Next I'd like to see some financials to be published- just how much of the rent money is being used in these renovations- how has the share value been decided. What is the next plan- expand or just keep current portfolio and withdraw assets? Getting this into a REIT would be great from my personal tax view. PM looked just as good at the same stage. I am out but for the sake of those brave souls still in I hope the same trajectory is not repeated.
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littleoldlady
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Loanpad (LP)
Loanpad
May 28, 2019 21:50:11 GMT
zlb likes this
Post by littleoldlady on May 28, 2019 21:50:11 GMT
LP rates are similar to (but not better) than OC but there is no comparison as regards platform security. Difficult to compare loan security as completely different models. I am in fact in both for platform diversity and because I hope there is something in the idea that lower interest = lower risk. Isn't there a difference in the loan duration model on each? Yes, that as well. They are quite different platforms but as it happens they both pay c4%. The premium of c2.5% is not much to cover the possibility of a capital loss and the absence of FSCS protection. With a bit of effort I get 3.8% on £80k of secure capital from Banks and BS special offers using family members, preferably non-tax payers. Each grandchild (I only have one) can get 2.5% on £50k and 3.5% on £5k from Nationwide. Most banks offer up to 5% on regular savings accounts with limits. There is some admin involved so maybe more suitable to retired people. If I could invest all my cash this way I would not bother with the likes of LP.
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littleoldlady
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Loanpad (LP)
Loanpad
May 28, 2019 17:34:34 GMT
Post by littleoldlady on May 28, 2019 17:34:34 GMT
LP rates are similar to (but not better) than OC but there is no comparison as regards platform security. Difficult to compare loan security as completely different models. I am in fact in both for platform diversity and because I hope there is something in the idea that lower interest = lower risk.
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littleoldlady
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Loanpad (LP)
Loanpad
May 28, 2019 15:29:02 GMT
Post by littleoldlady on May 28, 2019 15:29:02 GMT
IMO the only reason to invest at LP rates is if you believe that lower rates automatically mean lower risk. In a few years time we will find out.
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littleoldlady
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Post by littleoldlady on May 28, 2019 15:24:22 GMT
Hi, Investments into the IF-ISA are diversified across all loans in the portfolio, so as new opportunities are added/ taken away, your investment is 're-spread' accordingly. We do it this way as some of our ISA terms are longer than our maximum loan terms, i.e. we don't lend to borrowers for 3 or 5 years but, by re-allocating funds as and when loans are redeemed, investors can choose these longer terms should they wish to. We are aware that your transaction history shows the loans available when you first made your ISA investment, and don't update as they should. I've given our tech team a nudge on this and hope it will be fixed shortly to help clear up any confusion. Apologies for not getting back to you sooner! Please give me a shout if you have any further questions. Annie Can I add a request, can they please split the list of transactions between non ISA and ISA. Even better split ISA and non-ISA completely into two different accounts. That's how every other platform I use does it. I am actually surprised that the FCA/HMRC permits the two types to be mixed together. I wonder if they know?
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littleoldlady
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Post by littleoldlady on May 27, 2019 22:00:55 GMT
I am tempted to invest but one of their faqs has me concerned..... www.capitalrise.com/faq#for-investors-what-happens-if-the-developer-goes-out-of-businessIf the developer goes out of business and therefore defaults you will want to take action to try to access the original capital you invested. How you would go about this will vary depending on the structure of the particular investment you hold and will be explained in the investment document related to that investment. As an example, if you held a debt product you would normally benefit from some form of security in the form of a legal charge and your investment document would explain how you would go about forcing the sale of the property in order to access your invested capital. Please note that receiving the full amount invested is not guaranteed and it is possible you will lose money should this situation arise. Refer to our risk page for more information on how CapitalRise seeks to prevent this from arising and what happens if it does. >>>Does this mean that if a borrower defaults then I as an investor would be expected to take legal action to get my money back??? From my experience with other p2p platforms I would expect this to be handled by them rather than individual lenders. Am I interpreting this correctly or have I got it totally wrong? If you follow the link you gave you will see that this has been rewritten and is what you expect.
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littleoldlady
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Post by littleoldlady on May 27, 2019 21:48:03 GMT
Very little information on Capitalrise on the board. I am looking for high interest platforms to invest IFISA for the new tax year (in addition to the IFISAS I already have) and Capitalrise offer one. Anyone here invested that can offer feedback on experiences? This platform may well be like property crowd who also have IFISA but few loans come up so little opportunity to diversify Thanks Yes - you have to see diversity in context of other ISAs you have, it will be a handful of loans in these platforms only. For Capital Rise I wouldn't put new ISA money in as will be hard to invest £20000. In any event you do an investment per offer rather than deposit and then invest. I'd say if you like a loan they have, transfer in some spare ISA cash from elsewhere, but put new/current year money somewhere else. That's just what I have done. Each time a loan comes along I transfer a wadge from AC (no charges). Loan rate is slow but steady.
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littleoldlady
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Post by littleoldlady on May 27, 2019 11:28:58 GMT
Gold is probably at fair value at the moment with more upside than down. The country faces a binary choice now. The EU are not going to step in with any more help. So the eventual result will be either 1) Stay in the EU, consequence: a lot of complaining that will always rumble away in the background but financial stability will be regained and the economy will rebound or 2) No deal Brexit, 10 - 50 years of economic disaster and political chaos. One or the other. Project Fear upgraded to Project Terror.
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littleoldlady
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Post by littleoldlady on May 27, 2019 7:18:24 GMT
Would I be right in thinking that it could be a sensible strategy to now shift some non-ISA, non-P2P investments (standard equity investments) over to P2P this financial year so that any tax can be offset against Lendy capital losses? I have moved out of P2P and into equities over the last year or so (except for a significant sum locked up in Lendy) but now wondering whether it is worth reversing this. Seems logical but perhaps unethical? Don't let the tax tail wag the investment dog. Better to make a gain and pay some tax than to make a loss.
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littleoldlady
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Post by littleoldlady on May 23, 2019 7:35:13 GMT
Yes I understand your point. However, PC has a flexible IFISA. So you can remove IFISA cash and return the ISA cash before the tax year end. Then you will not incur 0.95% charge on your IFISA cash. yes, I did this for a while. But the lack of loans, and the lack of an SM, together with the 0.95% fee on invested money, plus the risk associated with being development loans, were all a put off. Have instead gone more heavily into PL.I am in both PC and PL, for platform diversity. PC net rates after the 0.95% are still higher than I am getting on PL Autolend and the type of loan seems similar. Am I missing something? I was about to invest in 2 more loans on PC, but they are both mezzanine which I have previously avoided.
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