david42
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Post by david42 on Nov 6, 2015 11:10:07 GMT
groundworks and highways maintenance company; £27.5k; 60 Months; Rated "C" Risk; already fully subscribed
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david42
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Post by david42 on Nov 4, 2015 0:11:58 GMT
I used to favour the ability to sell at a discount or premium. Logic would suggest that every loan is different and it should have different value, so an efficient market should allow the price of a loan to change.
But I have realised that I cannot calculate the value accurately, assessing the value takes time and effort, and the existence of varying prices introduces a lot more room for error in choosing my price.
As a result I now focus on the easier platforms and I find that over 50% of my P2P money is in Saving Stream because of the simple fixed rate offering for buying and selling. I hope that MoneyThing will decide to be an easy platform.
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david42
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Post by david42 on Oct 31, 2015 8:55:20 GMT
Am i right in saying the last bunch of loans went through without the stages being numbered? Yes. Saving stream seem to have given up with notifying us of the pre-approval stages and recent loans have gone straight to stage 4. No details have been posted for the pipeline loans yet. Since the introduction of pre-funding, Saving Stream have (so far) always published the loan particulars and valuation document before putting the loan live. The loans are unlikely to go live all at once. Previous loans have usually been staggered except when they are multiple loans to the same borrower. Saving Stream promised they will not launch more than three loans at the same time.
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david42
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Post by david42 on Oct 30, 2015 19:09:22 GMT
New loan posted a couple of days ago: Structural steel work construction company; £50k; 60 Months; Rated "B" Risk
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david42
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Post by david42 on Oct 27, 2015 23:57:20 GMT
adrianc, do you know if my impression that SS invest in the loans is correct or not? My understanding is that when Saving Stream first started they would lend their own money to fill each loan, then offer the loan to other lenders so that Saving Stream had enough cash to make the next loan. Saving Stream was a loan company first and it later created the P2P facility to raise extra funds for lending. But the concept of Savings Stream lending their own money has not been mentioned since they moved into bigger loans and asked for underwriters.
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david42
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Post by david42 on Oct 27, 2015 16:52:14 GMT
Although REBS is about peer to business I was wondering if anyone has any knowledge about a business lending on REBS to another business instead as an individual? Is it possible? Yes it is possible. REBS allows limited companies to open lending accounts.
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david42
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WiseAlpha
wiseAlpha
Oct 27, 2015 12:25:51 GMT
Post by david42 on Oct 27, 2015 12:25:51 GMT
WisealphaWelcome to the forum. It is very helpful to have clear and official answers to the questions that are being discussed. The forum welcomes (and encourages) input from staff of P2x platforms, however to ensure everyone is aware you represent a specific company, the forum rules require you to send a PM (Private Message) to Admin. If you have not already done that, please do so by clicking here so your account can be updated. Thank you
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david42
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Post by david42 on Oct 24, 2015 9:06:30 GMT
Can anyone explain the advantages of investing via a company compared to investing as an individual? Doesn't that risk having to pay CT on earnings made by the company and then income tax on what's left after the CT is paid when the company distributes the profits as dividends? The best place to get your income depends on the detail of your tax bands and allowances. For example this year, a higher rate taxpayer keeps 60p in the pound tax whether paying 40p income tax or 20p corporation tax + 20p (25%) income tax on the 80p dividend. But investing in the company adds flexibility on which tax year the dividend is taken, and there may be other ways of extracting the profit from the company instead of taking a dividend. However, next year dividend tax credit is being abolished. So after the first £5,000 of dividends (which are free of income tax), a higher rate taxpayer may be better off having the P2P income in his own name because he keeps only 54p of every pound of gross income earned by the company after paying 20p corporation tax and 26p (32.5%) income tax on the 80p dividend.
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david42
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Post by david42 on Oct 16, 2015 13:02:14 GMT
My secondary market sales to Autobid users have been down since Wednesday. Now selling at only 25% of the average speed over the last month.
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david42
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Post by david42 on Oct 13, 2015 23:02:52 GMT
Is anyone concerned that a majority of the rent on the building is paid by a newly formed company connected to the borrower? Who it seems are also paying OTT rent payments for some strange reason (which are likely to reduce) - it has an unhappy resonance with a commercial loan on another platform. I know SS's model works differently, but my pre-fund is set to zero subject to any unexpected revelations in the BL particulars, I am also assuming that this one will be under the new terms, but I guess that could do with some clarification as it is a 'resurrection'. I raised my concerns about this loan directly with Saving Stream. My question: The building valuation may have been influenced by the artificially high rent paid by **** ******* Ltd to the building owner - another company in the same group. Answer from Liam at Saving Stream: "We queried this, the valuer is confident that the rent is accurate and is the market rate."
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david42
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Post by david42 on Oct 12, 2015 20:53:18 GMT
Another £100k of PBL60 has just arrived.
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david42
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Post by david42 on Oct 12, 2015 11:17:25 GMT
New Loan
Convenience Store; £35k; 60 Months; Rated "C" Risk
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david42
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Post by david42 on Oct 10, 2015 3:22:25 GMT
If the problem gets too bad, you can amalgamate your parts buy selling several parts on the secondary market then buying them back as one lump. This is very hazardous but I have done it successfully many times (and got caught by the hazards a few times). 1) Choose a time when there is nothing for sale for the loan in question. 2) Ensure the secondary market is not jammed up by an earlier overdrawn transaction. I test this by selling £1 of the loan and buying it straight back. If my sale goes through then I know the secondary market is not jammed up. 3) Sell all the loan parts you want to amalgamate. 4) Immediately buy back the whole amount in one transaction. You have bought back your own loan parts but they are now amalgamated into a single part. 5) You need enough spare cash to buy back the whole amalgamated loan part. I have never been brave enough to do this operation without the cash in my account, but in theory you could create a BACS deficit for the necessary cash at the start then offset the BACS deficit when the cash is released back at the end of the process. 6) You risk losing your precious loan parts if someone else manages to buy them back before you do. Be as quick as you can and choose a quiet time. 7) I clearly have too much time on my hands.
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david42
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Lendy (L) in Administration
BACS deficit
Oct 6, 2015 13:25:34 GMT
Post by david42 on Oct 6, 2015 13:25:34 GMT
I got also my first ever text message about my BACS deficit today, for a deficit that I created and funded at 15:45 yesterday, so according to the published timetable it should have been reconciled this morning.
I asked Saving Stream why they had sent me a text message and Tim just replied that the deficit had been cleared.
David
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david42
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Post by david42 on Sept 23, 2015 22:20:04 GMT
New loan:
Commercial wall art supplier - £200k, 60 Months, C Risk
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