fogey
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Post by fogey on Apr 29, 2017 18:08:27 GMT
Thanks for the replies Octopus Choice: This looks interesting. Will definitely look into that further. Yes I haven't used them yet, there was quite a queue to get in when they first opened up but that is no longer an issue ... also the predicted rate was rather optimistic until this forum complained about it ! You can even work it out yourself from the detailed open loan book on their site. Now they have listened and it is far more realistic and hovering just above 4% most of the time. It's on my shortlist for an IFISA at the moment.
Edit: The biggest risk here is that the diversification may be very low and if there is a (borrower)payment problem with any loan when you want to sell out of everything, then that difficult loan may not be available for resale. This appears to be possible even though that loan is not technically "in default" but looks at some risk of going there. In this case you will not get all your capital returned until the true state of that loan is clearer. So you will have to wait and see if it recovers ( borrower payments return to normal) or if it goes into default. If the security is in the form of residential property this means you will have to wait until it is sold and that may take some time.
Oh and welcome to the forum here you won't find any better source of advice/knowledge
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fogey
Posts: 171
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Post by fogey on Apr 29, 2017 17:27:40 GMT
At the moment, I don't have time to choose loans manually so am limiting myself largely to platforms with hand-off and early exit options. I'd like to know the full list of options available to me. Am I missing any? Thanks Octopus are worth a look and an ISA is expected there in the not too distant future ... liquidity should not be an issue unless there is a sharp downturn in the property market ... but bear in mind any of these platforms might seize up if there is a sudden unexpected event which causes everyone to head for the exit at the same time ... always have some ready cash in a FSCS or FCA protected account ! You also need to think about diversification and minimum investment levels too ... some of these platforms are not very diversified and some are really for HNW investors.
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fogey
Posts: 171
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MoneyThing (MT) in Administration
MTAH531
Apr 29, 2017 16:07:45 GMT
Post by fogey on Apr 29, 2017 16:07:45 GMT
Exactly, it becomes worthwhile with a 5-digit figure, especially if it doesn't pay until next Tuesday or later. Then I can decide what to do next with very short-term money. Which is why I bunged in a wedge on the 27th ta very much! Well I guess that opportunity may have arisen due to people offloading Warrington in order to fund another part of Lancashire so an exchange of short term imminence to long term for some .. and for others ... an opportunity for a short term bank holiday excursion lots of money swilling around up there these last few days !
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fogey
Posts: 171
Likes: 104
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MoneyThing (MT) in Administration
MTAH531
Apr 29, 2017 15:14:19 GMT
Post by fogey on Apr 29, 2017 15:14:19 GMT
For those not able to understand perpetual imminence there is always the secondary ... Someone just ditched 8k there ... It always amazes me how keen people can be to buy just a few days interest ... But perhaps they are hoping for eternal imminence ... Worth investing short-term money in this even for a few days - unlikely to default! At the first "Declaration of Imminence" made on March 27 then it made a lot of sense to buy in (as I did) when you subsequently see parts up for sale, knowing that the Imminence was likely to last some time with little risk of default But now it makes little sense for me to either sell out or buy more in as the Imminence is starting to look for real ... For an investment of 1k made from March 27 the gain now would be around £10.50, but for the next few days the reward is only 33p a day ... so not too worthwhile for depositing more funds ( should a buying opportunity arise again .. which is looking increasingly unlikely now .. ) But if you have 8k in cash floating around here already in your account and looking for a home then it does make more sense at around £2.63 day especially if it is at the start of a long bank holiday weekend So I guess it all depends how much spare cash you have floating around
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fogey
Posts: 171
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MoneyThing (MT) in Administration
MTAH531
Apr 28, 2017 16:33:16 GMT
Post by fogey on Apr 28, 2017 16:33:16 GMT
For those not able to understand perpetual imminence there is always the secondary ... Someone just ditched 8k there ... It always amazes me how keen people can be to buy just a few days interest ... But perhaps they are hoping for eternal imminence ...
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fogey
Posts: 171
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Post by fogey on Apr 27, 2017 23:26:32 GMT
Are you in the right place ? To my knowledge MT do not have an ISA available yet.
Edit: looks like you got this message from someone else at the same time as mine !
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fogey
Posts: 171
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Post by fogey on Apr 27, 2017 23:14:56 GMT
Is everyone working overtime to catch up with the backlog ? I thought deposits and withdrawals were only handled during office hours .. What is the normal latest acceptance time in the evening and the earliest acceptance time in the morning ?
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fogey
Posts: 171
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Post by fogey on Apr 27, 2017 19:33:31 GMT
It doesn't seem to have affected the flood of money pouring into BPF706 ... was down to 60% available in the first 10 minutes then 50% in just over an hour .. Looks to have slowed down to just a trickle now and only around one 5k bid each hour ... But I put that down to everyone who was interested being already spent out within the limit ... Looks like it may overrun the first 24 hours and go into the free for all tomorrow.
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fogey
Posts: 171
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Post by fogey on Apr 27, 2017 19:19:37 GMT
I was thinking more along the lines of " in a very secluded position nestling within the bosom of 14 surrounding properties "
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fogey
Posts: 171
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Post by fogey on Apr 27, 2017 18:29:11 GMT
Looks like the footwork did a very good job then. Guess there's more profit in smaller houses and even more in park homes too.
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fogey
Posts: 171
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Post by fogey on Apr 27, 2017 2:42:16 GMT
Should be some more cash coming in from Warrington later today so even more to play with But I suspect everyone is thinking like you at the moment so a 24 hour sell out is on the cards !
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fogey
Posts: 171
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Post by fogey on Apr 27, 2017 1:57:10 GMT
Anyone wishing there was stuff available to buy on the MoneyThing SM, now's your chance (until 10am tomorrow)! Well I am a night owl and at 2.30am here there is around 5k Putty which is moving at a proverbial snail's pace, 4k Warrington which probably has less than a few day's interest left and might even repay today . Then there's the odd k of Manchester which everyone is already gorged on and still suffering indigestion as a result ... So they are left with this morning now to try and unload this stuff when everyone else is probably saving every penny to spend on this sudden manna from heaven ... So the question now is how quickly will it sell out and will it even make it past the first 24 hours ? The last offering here the other day never managed that either ....
My only complaint as a night owl is having to get up so early when I normally spend the morning in bed, so the usual 4pm is ideal for me .. In this case I think it's worth the effort to catch the worm before it is gobbled up by the hungry birds... they just aren't getting as much food here as they need ! If you haven't already got the ready's loaded on your account you are leaving it rather late
Now at 3.15 am and Putty is going up ! ... over 6k now ... still as popular as when it was launched
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fogey
Posts: 171
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Post by fogey on Apr 26, 2017 21:55:27 GMT
The local plan had a "minded to approve" 27 houses on this site. Presumably the borrowers prefer the proposed scheme as it's less capital intensive and possibly more profitable.
A new park home can be transported to the intended site and connected to all the main services in a matter of days, so it is far quicker and cost effective than building a house. The foundations are much simpler too, so there is also a major cost saving there.
The basic infrastructure (roads, utilities etc.) will be very similar for a park home and a conventional home. So once this cost is absorbed then the new park homes can be quickly sited according to demand. Possibly a few will be used as promotional material for the sales office and in this case the new homes can be quickly supplied and installed according to the orders placed.
So the profit potential would seem to be intuitively much higher than building houses.
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fogey
Posts: 171
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Post by fogey on Apr 26, 2017 18:23:45 GMT
New park homes are often very popular as a retirement solution for people wishing to release their existing home equity. They are also far less concerned about the shorter lifetime of the park home as their future time horizons are more limited.
Such a market is probably already well known to well established park developers and so they are always very keen to find new sites for siting new homes. Furthermore they can gain a regular income from the ground rent as well as commission on sales of previously owned homes.
There are a very large number of residential park home sites across the country and they are always keen to expand their business whenever the opportunity is available. So it is obviously a well established and profitable business although the mechanism may not be immediately obvious.
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fogey
Posts: 171
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Post by fogey on Apr 25, 2017 15:15:06 GMT
Looks like the bots won't be able to do much now then ... good time to get rid of your unwanted stuff while everyone is in the mood ..
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