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  1. #721
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    Quote Originally Posted by Saamee View Post
    Just $1,250 left to go now!!
    Loan all gone now.....

  2. #722
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    Quote Originally Posted by PennyPicker View Post
    That's a good return Saamee.

    I just popped back to comment, @ mp52, on an unrelated matter I was checking GMail spam folder and just found two Lending Crowd loan emails from the 15th in there. The odd thing is, one other that day didn't goto spam and yesterday's emails were fine. My market analysis email was there too So maybe yours are being redirected as well?
    Sorry - bit late to the party PennyPicker. I'm not relying on the email notifications as anything B* or lower is usually gone by the time the email arrives - instead have a browser watch set on a 1min refresh but even then... Yesterday I think a B1 came up and was gone before I completed the order process. Time from posting to closing would have been between 10-70secs max!

    Quote Originally Posted by Saamee View Post
    Currently seeing 13.92% return at LC ( that's after their fee ) and ALL loans at least have some measure of security
    Nice, I'm a point off that - I should have clarified the net figure I gave a few pages back was fees + tax. LC's the business, just getting a bit like flash trading - need a direct fibre connection into them to catch the loans - lol.
    "The market can stay irrational longer than you can stay solvent." – John Maynard Keynes

  3. #723
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    Quote Originally Posted by mp52 View Post
    Sorry - bit late to the party PennyPicker. I'm not relying on the email notifications as anything B* or lower is usually gone by the time the email arrives - instead have a browser watch set on a 1min refresh but even then... Yesterday I think a B1 came up and was gone before I completed the order process. Time from posting to closing would have been between 10-70secs max!


    Nice, I'm a point off that - I should have clarified the net figure I gave a few pages back was fees + tax. LC's the business, just getting a bit like flash trading - need a direct fibre connection into them to catch the loans - lol.
    Yes agreed. It's good to see some much larger loans coming through that at least stick around for 24 hours!

    I too missed out on the 2 x under 10K loans yesterday

  4. #724
    Advanced Member Entrep's Avatar
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    I work on my PC and can login to LC within about 20 secs of getting the email. As soon as I see it I login.

    There was 3 x $5K loans yesterday that were filled by the time I logged in. Unsure how people are doing it more quickly!

  5. #725
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    Quote Originally Posted by Entrep View Post
    I work on my PC and can login to LC within about 20 secs of getting the email. As soon as I see it I login.

    There was 3 x $5K loans yesterday that were filled by the time I logged in. Unsure how people are doing it more quickly!
    Lucky timing - That's all I can reason, plus they take the whole Loan?

  6. #726
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    Aug 2012
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    Quote Originally Posted by Entrep View Post
    I work on my PC and can login to LC within about 20 secs of getting the email. As soon as I see it I login.

    There was 3 x $5K loans yesterday that were filled by the time I logged in. Unsure how people are doing it more quickly!
    Depends on how quickly you get the email. I have push email set up on two gadgets. I always get notification of new emails on the newer gadget by about a second or two earlier. With a popular small loan that could make a difference.

  7. #727
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    Apr 2017
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    Anybody know how the tax is meant to work in regards to Flex i.e. is flex subtracted then tax is taken out to get net gains, or is the total taxed then flex taken out? From what I can see my current tax rate is effectively 36% when it should be 33%?

  8. #728
    Advanced Member Entrep's Avatar
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    Quote Originally Posted by baldricknz View Post
    Anybody know how the tax is meant to work in regards to Flex i.e. is flex subtracted then tax is taken out to get net gains, or is the total taxed then flex taken out? From what I can see my current tax rate is effectively 36% when it should be 33%?
    So if it is the latter then you'd need to claim the flex/fees in your income tax return right? If the former then you wouldn't?

    Their FAQ seems to indicate the latter:

    RWT is tax which Lending Crowd must collect on behalf of the NZ Inland Revenue Department (IRD) on all interest paid to investors. Each investor selects the RWT rate appropriate to them as part of their investment account profile. If you're unsure which rate is most appropriate for you please talk to your accountant or the IRD. Please note Lending Crowd does not currently support non resident withholding tax (NRWT) or RWT exemption.
    Last edited by Entrep; 09-06-2017 at 07:28 PM.

  9. #729
    Advanced Member Entrep's Avatar
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    Screen Shot 2017-06-12 at 11.59.49 AM.jpg

    That's the kind of loan I don't invest in on LC (I think I've passed on about 3 out of 30-40 investments)

    How do others compare?

  10. #730
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    Quote Originally Posted by Entrep View Post
    Screen Shot 2017-06-12 at 11.59.49 AM.jpg

    That's the kind of loan I don't invest in on LC (I think I've passed on about 3 out of 30-40 investments)

    How do others compare?
    I agree. I can see a number of issues with that loan:
    The spouse credit is only Good instead of Excellent which could mean anything. Perhaps the spouse has had a default in the past. Who knows!
    Their debt to income ratio is far too high.
    And the security is only a vehicle which could be worth anything. Probably not worth anywhere near the $50k

    My conclusion was that it's a very risky loan.

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