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Post by gusgorilla on Jan 24, 2016 14:32:47 GMT
That sounds very satisfactory. The original borrower information is of some interest to lenders then, but only because BLX might go bust. I think it is a great credit to you that you provide such full information and I will be happy to invest because of this.
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Post by gusgorilla on Jan 21, 2016 3:26:49 GMT
You are taxed as if the money was made in your home country, Britain in my case too. On a UK self assessment put it on in euros in the foreign earnings section. No idea how they decide what exchange rate to use.
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Post by gusgorilla on Jan 21, 2016 3:08:00 GMT
Make your lovers feel young again by giving them a short, unsatisfying and slightly painful experience then taking them out and boasting about it to everybody you meet.
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Post by gusgorilla on Jan 21, 2016 2:40:05 GMT
My reading of the FAQ is that BLX offer guaranteed buyback of bad loans. Is that correct? I am asking because this would seem to render most of the loan information provided with BLX loans superfluous from the lender POV. Is this information ever relevant to us? Would we ever care about the credit-worthiness of the original borrower?
What happens if BLX goes bust, which its credit report suggests is entirely possible? Who is then the borrower? What would happen to a bad loan? Would the good loans repayments continue to come to us or be diverted to BLX'S creditors? If the latter then there is no diversification created by investing in multiple BLX loans but only a single gamble of the total sum loaned to BLX. In effect the only documents of any interest would be those about BLX itself. If the former then the original borrower's details are suddenly of interest after all.
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General P2x Discussion
2016 crash
Jan 16, 2016 1:52:59 GMT
Post by gusgorilla on Jan 16, 2016 1:52:59 GMT
Halifax SIPP pays 0.5% on cash but sadly does not send amusing, hopeful emails. Does SIPP club pay any interest on cash?
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Post by gusgorilla on Jan 16, 2016 1:21:36 GMT
My feeling is that if there is a sharp property price correction caused by BTL panic and bubble that it will be mostly London and probably short lived and shallow due to high numbers of people desperate to buy their own places. Worth keeping out of London and considering LTV s though. Could mean a lot of people looking for top up loans to buy when they see a chance, possibly with parents acting as guarantors or even taking out secured loans themselves to help.
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Post by gusgorilla on Jan 16, 2016 0:55:03 GMT
I'm signing up right now.
An incredible amount of info about borrowers, their incoming, outgoings etcetera and the stats very detailed. Not much background info on some slightly confusing bits of the very feature packed interface. PV means days BTW.The auto lend is fiendishly complex. I feel if I could get to grips with all this stuff it could allow me to make some quite fine grained judgements. Definitely one for the geeks.
My son is a software developer and lives in Finland wit his Finish girlfriend. I will ask them to translate any tutorials etc they can find in Finland and pass on anything useful they find out.
If anybody finds out anything in the mean time please post.
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Post by gusgorilla on Jan 15, 2016 11:27:57 GMT
Yes I guess as long as they have lots of the pay day loans our slice including buyback will be a small proportion. Things look rosy for now and I guess that the only real threats are regulation or competition forcing down rates for borrowing. I will be investing more here but sticking with short term loans. Liquidity and reasonable rates together are a winner for my current needs.
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Post by gusgorilla on Jan 15, 2016 1:01:27 GMT
I had a loan repaid the same day as it was taken out, and still got a day's interest. I agree with OP, that there is very little benefit in diversifying, but to smooth daily repayments, it's preferable to have many smaller loans. Otherwise you might get 10% of your portfolio dumped on you when there's nothing to reinvest in. TWINO also say that shorter term loans are less risky, which I'd ordinarily agree with, but given the way the buy back operates, I see no benefit. There would seem to be no benefit, but have we established yet that TWINO will be able to honour the buy back commitment and stay in business? I cannot help feeling wary of a company that employs a CEO who has worked for Bond ora, who look like they will not survive due to lack of investor trust. I like the look of TWINO but will be exercising great caution until it proves it is truthful, financially robust and competent, rather than just good at short term marketing. If this company has integrity I think it could be a great success but Isn't it too early to judge?
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Post by gusgorilla on Jan 13, 2016 17:45:35 GMT
What does the "Underwritten" progress bar mean on a new loan and what is its purpose from an investor's POV? I'm looking at the portfolio of prime borrower top-up mortgage loans. Given the rate and LTV I don't fancy it much but wonder if this is because I have misunderstood how the word "underwriting" is being used in this context. Does it indicates insurance against the loans going bad?
I'm new to ABLRate so please forgive me if I have missed something on the site somewhere or am being naive.
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Post by gusgorilla on Jan 3, 2016 20:48:19 GMT
What ben and littleoldlady have said seems very sensible to me. Waiting until the exact time the loan appears, sitting hitting the refresh button, desperately trying to type numbers into a box, then still failing to lend has put me right off. It was annoying the first time, infuriating the second... I have now transferred out most of the money I was going to lend from MT into SS, which has got prefunding and is easy to use. I didn't really want to invest in property or invest in such big chunks, but I haven't the time or energy to spend wrestling the current MT system. It's a shame because otherwise I think MT is a really good site that would have suited my needs perfectly. I assume you must have been trying to invest in a couple of renewal loans (which have very small availability as most lenders roll over their stakes) rather than new loans? That might have been the problem. Could have been a newbie misunderstanding. I will keep trying. I'm hoping to get in on some managed portfolios. Do you think a slow finger guy would have any chance?
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Post by gusgorilla on Jan 3, 2016 17:22:37 GMT
What ben and littleoldlady have said seems very sensible to me. Waiting until the exact time the loan appears, sitting hitting the refresh button, desperately trying to type numbers into a box, then still failing to lend has put me right off. It was annoying the first time, infuriating the second...
I have now transferred out most of the money I was going to lend from MT into SS, which has got prefunding and is easy to use. I didn't really want to invest in property or invest in such big chunks, but I haven't the time or energy to spend wrestling the current MT system. It's a shame because otherwise I think MT is a really good site that would have suited my needs perfectly.
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Post by gusgorilla on Jan 3, 2016 15:58:41 GMT
Many potential lenders go out to work or are often busy, so prefunding of upcoming loans is almost an essential for them.
However, it may be that loan volumes are going to be so low that MT does not need any more lenders. In that case it might be better not to have prefunding, because it could annoy those loyal existing lenders who are happy to suffer minor inconvenience in exchange for larger slices of the pies. Of course a lower number of lenders ultimately means that MT would not be able to handle/attract larger loans or volumes, which might also annoy existing lenders.
A difficult call for the MT people this.
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