david42
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Post by david42 on Jun 12, 2017 18:55:27 GMT
I'm <trying> to get into early retirement, (but lack of funds is a problem!!) from the savings and pension I've so far got, what is a realistic (%) rate for drawdown? figure used to be <around> 5%, but with interest rates as they are at present, is that optimistic? Plan (hope) is to get just enough into pension to make the tax threshold, and invest the rest via ISA's so that returns are tax exempt Brian Everyone's estimates will be different. If it helps to have some figures, my lifetime savings and investments have made a compound return of 3.7% pa over the last 30 years after tax and inflation. But every decade has different challenges: individual years range from -18% to +23%; a few -18% years have a significant impact even when averaged over 30 years of gains. My saving approach and tax regime will be different to yours, and of course past performance is not a guide for the future.
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david42
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Post by david42 on Jun 12, 2017 18:30:06 GMT
Interest lost to lenders selling, is the Provision Funds gain... I don't think this is true - LY note that the PF is funded by the new loans (via a % of the arrangement), and make no mention of the lost interest on the SM "The Fund will aim to have a minimum balance of 2% of the total live loan amount at any time. Every time a new loan is made a proportion of the fee charged to the borrower is paid into the Provision Fund (the amount is dependent on the loan size). If the Provision Fund is used to cover a shortfall in asset disposal, then it may take time to top the Provision Fund back up from company cashflow"That depends which of Lendy's statements you believe. In March 2016 they told us that the interest we had foregone on the secondary market went to the provision fund: p2pindependentforum.com/post/104149/thread
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david42
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MoneyThing (MT) in Administration
withdrawals
Jun 8, 2017 23:03:12 GMT
Post by david42 on Jun 8, 2017 23:03:12 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 ? Morning, We typically process payments up until about 9pm (on a less frequent basis after 5pm). We will usually check at around 7.30am and then it gets picked up regularly after 9am. Weekends (and bank holidays), it will get checked 9am to 9pm every few hours (unless of course we launch a loan at the weekend or the bid restriction is lifted). Kind regards, Ed p2pindependentforum.com/post/185417/thread
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david42
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Post by david42 on Jun 8, 2017 13:14:08 GMT
Round here, ISTM is usually "It Seems To Me". Unfortunately the Internet generation have started speaking a different language.
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david42
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Post by david42 on Jun 8, 2017 8:26:33 GMT
Re: deposits / withdrawals, I queried that and had the following back: "We use fast payments and at this stage, the payments are made manually. Withdrawal or deposit are credited on the same day if the instructions are received before 12:00. Any instruction received after that time will be credited the next day. Weekend payments will clear on a Monday until we are in a position to automate." And to be fair, the 12:00 cut off point might not be that rigid. Mine was made early afternoon and was in my account 2hrs later. When I asked Huddle to communicate their deposit timescale more clearly they said: "We commit to doing two checks per day at an absolute minimum but funds are most often uploaded within 2 hours. We will be making this clearer on the FAQ section."
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david42
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Post by david42 on Jun 8, 2017 8:16:55 GMT
Hi, has anyone fielded a call after registering as a private investor? What q's, do you have to certify as sophisticated investor? I get caned on incoming calls when overseas, just trying to guauge how much effort for my grand! My account was approved within an hour without further contact. Will depend on electronic ID verification I guess. What have you got to lose, sign-up process is commitment free even if you can't verify. I signed up to give me the option. I was sent an email asking me to upload scans of a bank statement and passport or driving licence before my application was approved.
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david42
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Post by david42 on Jun 6, 2017 21:03:16 GMT
I opened my account last Friday 2nd June. Huddle managed to complete all the verifications and the initial credit within the one day, just. Someone called Stef answered my email questions very promptly and clearly.
I asked whether I would definitely get the 20% bonus if I invested in the loan that day: "I can confirm that you are part of the Huddle 100 Club and your credit of £* should arrive on your account over the coming week."
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david42
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Post by david42 on Jun 5, 2017 21:19:08 GMT
1) Would be interesting to look at the statistics on ' increasing number of going into default status'. I wonder if this is the case or it just seems like it. You can see the increasing volume of defaulted loans most clearly in the fourth chart in this post: Jonah year to date analysisEdit: On reflection the above chart does not answer mrg's question. The above chart shows the increasing volume of defaulted loans on the secondary market, not the increasing volume of defaulted loans in existence. The nearest analysis was a forward looking chart by cooling_dude in February when he showed the increasing volume of defaults that we would expect to see. We are now seeing this happening much as he predicted.
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david42
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Post by david42 on Jun 2, 2017 13:07:22 GMT
Sorry I think I did something stupid! Edit: Seems to have been fixed now anyway. Thanks Mods. mikeh I don't think it will have been anything you did. I have seen the angry bear before. This was probably a problem with the Pro Boards servers that has now been resolved. But by all means continue to feel guilty and keep grovelling in case I am wrong.
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david42
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Post by david42 on Jun 2, 2017 12:38:50 GMT
Currently have 4 loans out. One of them is now marked as late. It was due for repayment on the bank holiday so fingers crossed. Should it default it would put me into a net loss position, the only p2p platform to have done so. As much as I like the idea behind MTP, without the ability to diversify and the small number of loans, I will probably sit this one out for a while. Don't lose any sleep just yet. My loans have been repaid an average of 8 days late. In the worst case a loan was repaid 42 days late.
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david42
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Post by david42 on Jun 2, 2017 9:39:44 GMT
Summary of the loan details Loan name | :
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| 1000074 A***** P******* F****** Secured Term Loan
| Borrower | : |
| A***** P******* F****** Ltd
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Loan Amount | : | £ | £500,000 to £760,000
| Security 1st charge, 90day sale
| : | £ | 895,000 [84% LTV]
| Security 1st charge, market value
| : | £
| 995,000 [75% LTV]
| Security including £300k of 2nd charge over three properties, market value
| : | £
| 1,295,000 [59% LTV]
| Additional security: 2 personal guarantees each with a net worth in excess of £1,000,000
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| Term | : |
| 6 months to 18 months
| % PA
| : |
| 13% interest only, instant returns
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Loan purpose Purpose - refinance A***** P******* F****** Ltd Risks Planning: Valuation assumes full planning permission. Outline planning permission granted; expecting to get full planning approved as the burnt out property is an eyesore and the council are keen for more residential developments ro be built in the area. Exit Strategy Refinance to developers upon full planning permission, decision expected in 2-3months. Note There is an outstanding charge registered on our SPV Si******* at Companies House against our security. This will need to be removed to provide our 1st charge security.
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david42
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Post by david42 on Jun 1, 2017 12:39:20 GMT
Can you confirm how the 5.5% is calculated please? Is it a) first deposit amount which is then subsequently invested within 60 days b) first actual investment/loan amount only or c) total investment over 60 days? E.g. there are two loans at the moment - if one deposited £1000, then put £500 into each, would this generate £55 cashback for both investments or just £27.50 for the first? And if another comes next week and another £500 is invested would that count too? And if so would it only count if one had put in £1500 initially or could one also add £500 later? Confusing, but would help me decide whether/how/how much to invest. Thanks for clarifying. I asked them a similar question by email. They replied with a lot more detail about the terms of the offer. The main points being:
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david42
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Post by david42 on May 29, 2017 19:00:39 GMT
1 percent was it? I never even saw it and still can't see it now. The old referral scheme is buried in the FAQ section here: Do-you-reward-referralsThe referrer gets 1% of the initial investment. It worked when I used it a couple of years ago. I did need to chase for the 1% after the three months.
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david42
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Post by david42 on May 29, 2017 18:21:35 GMT
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david42
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Post by david42 on May 27, 2017 18:22:40 GMT
Could we have a simple search/filter on all the loan pages please. Just a search of the Asset Details column for those loans containing the specified search string. As the Asset details column contains both the unique id and a description this simple enhancement would allow us to easily find a single loan or where we have multiple tranches. This would be help generally but particularly useful when a new tranche is issued in quickly checking how much you already have in that overall loan or lender. What is the difference between the facility you are describing and the "<ctrl> F" search facility in most browsers?
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