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Post by Financial Thing on Jan 13, 2016 17:03:20 GMT
few bits on the SM
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Post by Financial Thing on Jan 13, 2016 14:02:01 GMT
we have all made some serious mistakes in our calculations The property cost £840,000 As have you, once again the property cost isn't £840k, you need to add all the expenses that come with purchasing and taking out a mortgage.
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Post by Financial Thing on Jan 12, 2016 20:52:53 GMT
What a load of twaddle, looming property crash my arse. Whilst demand outstrips supply, (and lets be frank, we are several million houses short of what is required just to stand still), prices will continue to rise. Interest rates are still mega low, meaning mortgages are cheap, wages are on the up, in real terms, meaning people are still buying properties. Until we start building half a million homes every year for the next couple of decades, there will be no crash. The UK population is supposed to increase by around 7 million in the next 10 years or so, just to cover that rise we will need at least 2.5 million new homes, or 250,000 per year. Seeing as our total house building per year is around 120,000, and the government wants it to rise to 200,000 per year, we will still be woefully short. While that may be true, the fact is that the BTL market has supported the housing growth for decades and now it looks like BTL will be even less attractive. If the BTL market softens, so could price appreciation. If a generation can't get its foot onto the ladder because it's too expensive and wages haven't increased much over the past decade, it would be expected that despite the high demand, the market prices could decrease dramatically. Funny to me that the UK property owners think they are immune to a large correction. I certainly didn't think oil prices would be 60% less than a year ago. Anything is possible.
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Post by Financial Thing on Jan 12, 2016 17:10:05 GMT
It's common sense really if you think about it, do you think the banks disclose which firms operate their disaster recovery? If a platform becomes a victim of cyber attack - do you think the attackers will the ignore disaster recovery suite/operator? No more comments from us on this for the obvious reason. That might well be the most ridiculous lack of transparency reasoning I've ever heard. Thanks for making my investing decision easy
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Post by Financial Thing on Jan 12, 2016 5:28:27 GMT
I disagree, my primary concern being to stop people spreading false rumours, either saying good things in order to sell off dodgy stock, or bad things in order to buy more. Additionally, many people write first and think later, get their wires crossed, or are just plain stupid, jealous or malicious. This may not have a dramatic effect on the secondary market, but if confidence was wrongly shaken in a couple of large primary loans, such that they could not be fulfilled, that would be bad for everyone. Finally, it avoids suspicions that SS staff members are lurking with dubious intent. So censorship solves all? Now I've read everything.
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Post by Financial Thing on Jan 12, 2016 1:55:12 GMT
I do not understand why you can not discuss particular loans? If you are discussing that you disagree with a certain part of the report surely that is the idea of this forum. The mods will say it better - but they don't want the forum to get into trouble by allowing criticism (esp libel of third parties, such as the valuer mentioned in this thread) Have to say that I think this non specific loan discussion rule is silly. As long as the forum has a disclaimer in its T&C stating that views and opinions expressed do not represent forum owners, they would be fine. If being sued for libel were really an issue, no corporate websites would ever allow comments after articles because someone may say something derogatory. I think loans should be openly discussed.
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Post by Financial Thing on Jan 11, 2016 22:05:13 GMT
Good morning, you may or may not be aware, disaster recovery/business continuation is confidential for obvious reasons. I'm not aware and don't understand how disclosing this information is harmful and frankly makes me wary of your platform. Many other platforms disclose this.
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Post by Financial Thing on Jan 11, 2016 16:54:05 GMT
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Post by Financial Thing on Jan 10, 2016 16:02:03 GMT
No, I am stuck on not borrowing money and paying interest. Since most of these blocks of properties have been bought at a massive discount, in this case a 14% discount, anyone who gets into this investment will already be ahead of the game. 14% is far from a massive discount. In property investment terms it isn't much of a discount at all, especially when you add in all the extra purchase cost fees and mortgage origination costs. Most investors who truly make money from property look for properties that are 20%+ under market.
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Post by Financial Thing on Jan 10, 2016 15:58:16 GMT
james so what is the purpose of being only able to use one manager for the first year? Makes no sense to me.
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General P2x Discussion
TrustBuddy
Jan 10, 2016 15:56:27 GMT
Post by Financial Thing on Jan 10, 2016 15:56:27 GMT
davee39, thanks for a list. i have two questions for you: 1) why no uk platforms (currency risk?) 2) what do you perceive as a low rate for unprotected risk? The low rate higher risk platform I was thinking of is Wellesley, I would rather get similar rates from RS than take a risk on property. I am also unimpressed by the offers of special rates to keep money from the bigger lenders. So you think mainly unsecured loans from RS offer less risk than secured property loans on W?
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Post by Financial Thing on Jan 10, 2016 2:08:17 GMT
ilmoro So one has to invest all one's ISA allowance into the same spot during that one year? If I were to open an ISA with SS, I'd have to put the entire £15k into SS? So confusing all these rules.
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Post by Financial Thing on Jan 9, 2016 22:56:23 GMT
This is what I plan to do for tax year 2016-17. I will open a number of PISAs (to use your acronym) one for each platform (currently I am thinking of 4 or five). They will receive old money from previous years which is currently held in a cash ISA (HSBC). If I want to add new money in 2016-17, I will either add it to the cash ISA or use one of the PISAs (unless I am allowed to split my allowance like with Cash ISA / Share ISA). I hope it will work as it will spread a bit the risk. Well according to the posting above by ilmoro, you can only have one PISA
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Post by Financial Thing on Jan 9, 2016 19:06:58 GMT
And I am avoiding RS and Zopa because the low rate of interest does not justify the risk of a non-FSCS investment (I got 1.3% on RS market rate recently!). I have never used FC; maybe I should check it out. I see no obvious reason why established platforms should fail (fraud aside) as the risks are taken by the lenders. They fail over the long run because they don't make enough profit to sustain them as a business. Same as why the individual loans default.
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General P2x Discussion
TrustBuddy
Jan 9, 2016 18:40:29 GMT
Post by Financial Thing on Jan 9, 2016 18:40:29 GMT
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