david42
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Post by david42 on May 3, 2017 17:57:14 GMT
I've just received the weekly moneysavingexpert email, and there is a new cashback offer of £500 on a £5k investment link. Limited to the first 500 customers, full details on the Moneyfarm website link. The linked page also details yet another offer of £750 cashback, but with a £10k investment. Thanks for the heads up. I have just signed up. A good opportunity to try out Moneyfarm. I think the confusion on the offers is that the top of the screen goes on about the offer that a £20k investment is free of charges for 1 year. But if you scroll down, you get to the £500 and £750 cashback offers. Martin Lewies says there are only 100 offers left, and if the offer is not displayed then it is no longer available.
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david42
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Post by david42 on May 2, 2017 22:17:15 GMT
My only complaint is that every time I log in to the website or go to a different page I get an irritating pop-up message from someone called Freddie asking if they can help me. I would prefer not to have such pop-ups appearing in the bottom right of my screen but I can live with that. Yes. Clearly they have spared no expense in getting Freddie thoroughly trained by Microsoft's paperclip. I did try asking it a question because it looked like an instant chat facility. Only then did it admit that no one was available to help.
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david42
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Post by david42 on May 2, 2017 21:36:43 GMT
ugh .. really frustrated with the SM. Is there an alternative out there for 12%? Ablrate Moneything
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david42
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Post by david42 on May 2, 2017 16:08:00 GMT
... (although, I'm not entirely sure where LY get the additional money for the Interest POT...) Lendy have previously said they pay the pre-drawdown interest from their own funds (back in the days when they communicated such things): p2pindependentforum.com/post/37484/thread
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david42
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Post by david42 on Apr 30, 2017 15:51:40 GMT
Please can someone send me a referral link for growth Street. I am hoping that I am still in time for the bonus if I sign up today. Thank you.
I have received a link. Thank you
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david42
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Post by david42 on Apr 30, 2017 9:28:24 GMT
Might be worth pointing out at this point that on some of the hands off platforms, the fees are applied after tax. You might have to pay tax on say, interest at 8% while only actually receiving 6.5% after fees making a net return of only 4.9% for a basic rate tax payer. Not saying don't, just saying be aware of your own tax situation and how the fees, if any, are applied on the platforms. Thanks for raising this point. Just to clarify my understanding... Platform A: Interest = 6%. Fees not explicitly charged to lender. Platform B: Interest = 7%. Additional platform fees said to be 1%. Platform A is better from a purely tax perspective? To confirm whether A was better from a tax perspective, you would need to know the tax treatment of the fees on the specific platform. For example Funding Circle changed all their contracts a couple of years ago to move the fee from the lender to the borrower, meaning that the fee would then be deducted before tax was paid. But Bondmason is an example of a platform where the fees are charged to the lender, and the advice Bondmason received from HMRC is that the fees are paid after tax is deducted. So for an individual paying higher rate tax, the returns after tax in your example would be: Platform A: Interest = 6%. Fees not explicitly charged to lender. Return after 40% tax = 6%*60% = 3.6% Platform B: Interest = 7%. Additional platform fees charged to lender of 1%. Return after 40% tax = (7%*60%) - 1% = 3.2% This problem does not apply if you are investing through an ISA, or through a company, or if you have enough tax exemptions to cover the interest.
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david42
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Post by david42 on Apr 28, 2017 20:45:36 GMT
I have a couple of queries regarding the ISA. I have a maturing ISA which I am looking to transfer into P2P, the balance of which is around £70k. Rather than placing this in one lump sum into the presently available loan I would prefer to diversify it in chunks across multiple loans. I have two primary concerns. Firstly, it may take considerable time to achieve such diversification, especially if I am choosy about loans, with the added annoyance that any unemployed funds, whilst not earning interest, will still be attracting management charges. Secondly, the terms state " Your Property Crowd ISA must be fully invested into qualifying bonds at all times. Cash may only be held temporarily for the purpose of purchasing those qualifying bonds". Am I therefore being encouraged to invest the full sum regardless of my preferences or in the interests of said diversification and as such how long is "temporarily"? Has anyone asked these questions before and if not I would be grateful for a response from charles . Thank you The Property Crowd ISA is a flexible ISA. So you can remove spare cash while it is not invested in loans to avoid paying fees on it. With a flexible ISA, as long as you return the cash by 5th April it does not count as a withdrawal.
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david42
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Post by david42 on Apr 27, 2017 21:27:28 GMT
Hi All, Our bank is having system issues. The online banking system has been unreliable for most of the day and completely unavailable since about 5.45 this evening. Deposits and withdrawals will be processed as soon as the bank is available again. Apologies for any inconvenience caused. Kind regards Sophie It looks like something is working. I just had a deposit confirmed that I only made in the last hour. The Things must be working late tonight.
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david42
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Post by david42 on Apr 27, 2017 18:54:01 GMT
The main reason I dislike premiums is that it allows some people to grab loans for the sole purpose of offering them on the SM a few days later at a premium, easy money, and against the spirit of doing DD and holding to term. I can see some merit in offering discounts to get shot of positions in trouble that might take a long time to resolved, but on balance I like the simple flat playing field. If there are 1000 genuine investors for a £1m loan, each can get £1000 at the start. But introduce 1000 traders who buy every loan and introduce 0.2% premiums to resell the next week, the genuine investors would only get £500 to start and have the fast finger bother to get the remaining £500 and pay £10 to do so. Well articulated, p2p2p . One of the reasons that drove me away from Flipping Crazy was flippers buying up all the best loans and selling them on at a premium. Anyone who is not a flipper is starting with an immediate disadvantage. A flat rate secondary market discourages flippers by removing their profit opportunity.
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david42
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Post by david42 on Apr 18, 2017 8:16:15 GMT
My withdrawal, requested yesterday evening, arrived at 7:30am today. 7:30 is earlier than usual.
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david42
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Post by david42 on Apr 17, 2017 20:38:40 GMT
Steve
It is very sad that it has come to this. The more you respond to concerns, the more it encourages people to dig further. Some other platforms would appear to have come to the same conclusion as you.
On the positive side: - this forum brings business to your platform. I, for one, invested in your platform having read about you here. And I only invest in platforms that have a strong forum presence. - it is more efficient for you to address a concern once here for everyone to see, rather than have everyone contacting the platform individually, or worse people just not investing because they cannot understand it. - in spite of all the repetition and grief the forum remains an effective way for you to find out what worries your investors. - I have often found your responses to concerns informative.
So I like your suggested compromise of rationing your responses in a predictable way that we can all understand.
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david42
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Post by david42 on Apr 17, 2017 20:09:43 GMT
Sorry Guff's joke was lost on me until I found the punchline. Hint for those who are not aware of the quadrilateral distance blog: try googling "square mile news H*****n R*****a" for recent news on our borrower.
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david42
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Post by david42 on Apr 15, 2017 15:54:02 GMT
charles , I think the problem locutus is highlighting is that the ISA terms and conditions, including the ISA fees, are only accessible after you have registered. Why is this information hidden?
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david42
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RateSetter (RS)
Withdrawal
Apr 14, 2017 21:03:47 GMT
Post by david42 on Apr 14, 2017 21:03:47 GMT
Hmm, I had a 3 year loan repay early and put in a withdrawal request shortly after midnight on Wednesday, now 7pm on Friday and no signs in my bank. Anyone else having problems? I think the expectation is that you get your money late on the next working day. As you put in your request on Thursday, you will get the money next Tuesday, bexcause Friday and Monday are public holidays.
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david42
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Post by david42 on Apr 12, 2017 19:05:31 GMT
It has been pointed out to me that this is now listed with Colston & Colston. Not a direct link as can't identify the property, but it's easy enough to find. Easy enough to find? I struggled with the strange search function on that website. Using the search function on that site, if you enter the location H********* stated in the valuation report for PBL064, you will see the name of our property (A**** H****) as one of the results.
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