david42
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Post by david42 on Jan 19, 2016 16:34:52 GMT
My understanding is that the Retail Distribution Review is unbundling commissions of investments funds. So by April 2016 your funds should have been converted to 'clean' funds that include no commission. Instead you will need to pay explicit charges for any advice or administration of your funds.
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david42
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Post by david42 on Jan 16, 2016 9:32:23 GMT
In your dashboard you can see the micro loan IDs of parts you have offered for sale in the 'For Sale' tab, and for parts you have not offered for sale, the IDs are listed if you press the 'Sell' button. But because the statement does not list the IDs of the loans you buy and sell, I don't find it worth the effort of keeping track of individual loan IDs.
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david42
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Post by david42 on Dec 27, 2015 23:32:55 GMT
Ed, can you repost it as .xls rather than .xlsx for those with older versions of Excel. (best practice for future reference) Ta solicitorious if you are using an old version of MS Office, I recommend installing Microsoft's file format converters. I use Microsoft Office 2000 and I can now read .xlsx and .docx files.
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david42
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Post by david42 on Dec 23, 2015 23:19:15 GMT
For the previous default, although trading was allowed to continue, they added a big warning message on the purchasing screen when you tried to buy it.
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david42
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Post by david42 on Dec 18, 2015 23:55:01 GMT
My experience is that Autobid tests against the calculated "buyer rate" (after applying the discount) rather than the basic rate.
My evidence is that I concurrently listed a lot of £20 parts of the same loan for sale at four different rates: 10 parts continuously offered at 0.7% discount sold at a rate of 16 parts a week 10 parts continuously offered at 0.6% discount sold at a rate of 12 parts a week
10 parts continuously offered at 0.5% discount sold at a rate of 5 parts a week
200 parts continuously offered at 0.1% discount sold at a rate of 90 parts a week
This demonstrates that Autobid buys parts more frequently when the discount is higher. These parts were not attractive to manual bidders because better discounts were available.
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david42
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Post by david42 on Dec 1, 2015 17:35:06 GMT
Nursery School; £120k; 60 Months; Rated "C" Risk.
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david42
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Post by david42 on Nov 29, 2015 18:31:25 GMT
If your repayments have become un-affordable, this is as much of a problem for your creditors as it is for you, and some negotiation with creditors may be possible. As well as the discussion forums that people have already suggested, there are several organisations that offer free advice on the best way to manage your creditors. The government backed Money Advice Service suggests the following list of free debt advice services: www.moneyadviceservice.org.uk/en/tools/debt-advice-locator
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david42
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Post by david42 on Nov 20, 2015 17:17:13 GMT
Care home; £50k; 60 Months; Rated "C" Risk. Loan will repay an earlier loan.
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david42
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Post by david42 on Nov 16, 2015 19:02:37 GMT
genetic research company; £27k; 60 Months; Rated "B" Risk
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david42
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Post by david42 on Nov 15, 2015 22:03:03 GMT
Since both platforms can't have a first charge on the property, does this suggest that when the MT loan is funded it will be used to repay the SS loan? Or am I misunderstanding this whole thing? (That's probably the most likely situation. ) According to ilmoro in the 9 pages of discussion over on this MT thread, the SS loan is a first charge on site B and the MT loan is a first charges on site C. Edit: sorry to duplicate: I see webwiz has already replied.
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david42
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MoneyThing (MT) in Administration
MT282 and MT283
Nov 15, 2015 20:04:19 GMT
Post by david42 on Nov 15, 2015 20:04:19 GMT
... perhaps I miss-read the £4.5m of EoI on the other deal ... The 'other deal' offered enough interest to persuade me to move significant funds from other platforms, and invest well over my normal limit. On the other hand for MT282 I am already exposed to this borrower on the Saving Stream platform with a proven secondary market and proven ability to manage such loans through good and bad.
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david42
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MoneyThing (MT) in Administration
MT282 and MT283
Nov 15, 2015 19:44:18 GMT
Post by david42 on Nov 15, 2015 19:44:18 GMT
Before considering all options, can I just ask with respect to the instant returns option - for those platforms that offer it, what happens if the loan doesn't fill? I have read the description of how it works on another platform but couldn't ascertain whether this is still paid out in the event the loan does not drawdown. Thank you. Saving Stream pays pre-drawdown interest even if the loan does not fill. The benefit is that loans fill quickly. The drawback is that a significant delay to drawdown of a large loan could create a risk to the platform viability, as discussed on the Saving Stream forum herePredrawn interest is Lendy Ltd’s responsibility and is one of our major, but only costs. It is a risk, in that we don’t necessarily know 100% whether the deal will be completed as was evidenced from the recent PBLS 11, 12 & 13. However, we do try to renegotiate with our borrowers as time goes by if the loans are delayed in legals. We have sufficient capital available to cover many monthly interest payments if neccessary and will continue to do so for the foreseeable future.
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david42
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Post by david42 on Nov 13, 2015 12:22:04 GMT
funds to buy and run a leasehold hotel; £45k; 60 Months; Rated "C" Risk
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david42
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Post by david42 on Nov 7, 2015 21:23:12 GMT
Under the Sell menu, the tab 'loan parts sold' lists the date that each loan part was sold, with loan ID. I copy this list into a spreadsheet and analyse the frequency of sales by loan ID.
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david42
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Post by david42 on Nov 6, 2015 23:28:27 GMT
I'm surprised how much some of the companies are prepared to outsource. I'd have thought that a web technology business would want to employ or partner people with enough understanding to keep the site working in some capacity. He is on holiday overseas, that's all, and has the MT site back up already. And over on the MT forum we already have a full explanation of the fault with lessons learnt. Maybe Fragile Computers could learn a thing or two from this whippersnapper.
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