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Post by Financial Thing on Jun 13, 2016 20:01:06 GMT
Are these 6 month loans?
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Post by Financial Thing on Jun 13, 2016 15:45:17 GMT
Hahaha I know I couldn't agree more x3. However it is only because my current business is producing a very neat profit margin quarterly (5 figures) and requires no further investment. I originally put my profit into ISA's and savings solely but was honestly a laughable rate of return (especially regarding Business savings accounts; anything between 0.05 percent and 0.15 is the norm) So I decided to invest the figures like all of us here into other areas of investment. 18 or not, there's a good reward for saving early :3. But to keep on track with the thread, I was thinking of a dipping a toe or 2 into SS in a few weeks. Well done Harland, sounds like you're an astute young man. Investing early is the way to become a millionaire! If I were 18 (Im 43 now) and investing all over again with what's available now, here's how I'd invest: 60% into stock index tracker fund (US, not FTSE) 20% P2P 10% Global Bond Tracker fund 10% cash isa You can change these allocations depending on your risk appetite and also as you get older. I've been through some severe economic ups and downs so this allocation would make me sleep comfortable at night. PS. Forgot to add, buy and hold forever and keep buying through the lows and the highs. Only time you can lose money in the stock market is when you sell.
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Post by Financial Thing on Jun 10, 2016 20:47:27 GMT
Just my opinion but I think anyone willing to put an overweight chunk of their savings into P2P has some big stone bollocks and you have my respect. After I punted mid 6 figures on some property deals in late 2000's, I learnt about risk the hard way and learned never to risk too much despite how rosy the outlook. What's interesting to me is a new platform pops up, sometimes the new platforms gain trust quickly and we're happy to hand over our hard earned cash to these strangers hoping for a favourable outcome. Problem I see is some platforms aren't turning a profit and it may get worse due to heavy FCA scrutiny on things such as IT security which is very expensive. Will be interesting to see who can survive. If we were to experience an economic 2008 type downturn, they'll be many of us suffering thorough financial pains on this forum (me included). Other than that I love p2p Disclaimer: I'm an avid fan of p2p and have a sizable sum invested across multiple platforms
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Post by Financial Thing on Jun 9, 2016 21:28:58 GMT
Might I suggest an email sent prior to loans being offered? I notice loans are filling faster, especially due to no bidding limits. I assume as your platform grows supply will outstrip demand. Financial Thing The system is programmed to trigger off an email when any loan goes live on the platform. We are implementing the pipeline loan function which will also trigger off an email advising of forthcoming loans in the pipeline (which will then show on the platform under the pipeline loans section) with a date and time that they will go live. I hope this helps. Thank you Thanks for the info. Yes that helps. One question. With regards to the jewelry loans that contain many items, if the borrower defaults and for some reason, your jewelry buyers don't buy the items, what would you do to recoup funds? Correct me if I'm wrong but a buyer wouldn't pay close to value so it seems to me it would be hard to recoup 70% LTV? Also selling all the individual items at retail would take some time no?
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Post by Financial Thing on Jun 9, 2016 12:23:24 GMT
Might I suggest an email sent prior to loans being offered? I notice loans are filling faster, especially due to no bidding limits.
I assume as your platform grows supply will outstrip demand.
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Post by Financial Thing on Jun 8, 2016 17:27:31 GMT
It seems fair to me. SS are taking increased risk (since they may have to pay out from the PF) so receive a higher interest rate. The risk to lenders is less because the PF is there to mitigate losses, so the standard interest rate applies. I think a lot of people will be happy just to get their capital back. If they get accrued interest as well, they will be delighted. Penalty interest as well? I doubt many would expect this. Fair point if the PF wasn't discretionary. No guarantee the Directors will pay out of the PF.
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Property Moose
SPV48
Jun 8, 2016 17:24:57 GMT
Post by Financial Thing on Jun 8, 2016 17:24:57 GMT
Might have something to do with it being in Hartlepool?
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Post by Financial Thing on Jun 6, 2016 15:24:01 GMT
Hi collateral Interested in signing up but can you explain what provisions are in place should your platform go out of business? I looked in the FAQ's and didn't see anything written. If you have a trust or 3rd party in place to handle wind down, can you explain who this is? Thanks
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Post by Financial Thing on Jun 3, 2016 15:01:01 GMT
the whole site just crashed We broke the internet!!
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Post by Financial Thing on Jun 3, 2016 14:49:56 GMT
Agreed and the site is so slow when it is running SS has taken a page out of Funding Circles "how to set up a cheap web server" book
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Post by Financial Thing on Jun 3, 2016 14:38:50 GMT
Looks like the website is struggling
Getting lots of these:
Internal Server Error
The server encountered an internal error or misconfiguration and was unable to complete your request.
Please contact the server administrator, webmaster@savingstream.co.uk and inform them of the time the error occurred, and anything you might have done that may have caused the error.
More information about this error may be available in the server error log.
Apache/2.2.15 (Red Hat) Server at savingstream.co.uk Port 443
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Post by Financial Thing on May 23, 2016 13:58:32 GMT
Thanks Highlandtiger. We actually released a secondary market in early 2014 on the first ever site (a simple listing function) and were made to take it down by the regulators.....how times change..... Your suggestion on pricing is also helpful, thank you and great that you gave us a try J - we cannot give tax advice and you'll have to speak to an advisor. However, my understanding is that the CGT will apply to the seller at any point they exit. My suggestions will be no premiums on secondary market pieces to make encourage liquidity. I do like the idea of being able to offer a discount as a seller if one needs to sell quickly. Oh and please add the valuations to the website, tired of harassing poor Jessica for them each time.
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Post by Financial Thing on May 22, 2016 16:21:45 GMT
SS support sent me this email regarding the Captcha:
"We are working on an alternative mechanism that is more user-friendly."
Good news.
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Post by Financial Thing on May 20, 2016 0:42:16 GMT
While one has funds in the queue for the GBBA, am I right in thinking these funds aren't invested in the QAA and are collecting zero interest? If they are awaiting investment in GBBA they could still be in QAA if QAA is set to sweep. Hover over sum & it will show where they are. ahh great thanks, didn't realize the hover feature.
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Post by Financial Thing on May 20, 2016 0:18:29 GMT
While one has funds in the queue for the GBBA, am I right in thinking these funds aren't invested in the QAA and are collecting zero interest?
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