P2P Income Statement 1st September 2017

Here’s the latest update:

Lendinvest

Pretty quiet this month. The interest payment for August was £57.37 which is slightly lower than last month and due primarily to a couple of loans being paid back early. There is £71.30 sitting in the account for further investment and I now have funds invested in 41 properties.

Income August 2017: £57.37

Total Income to Date: £282.90

LendingCrowd

 

I’ve continued moving money from my normal LendingCrowd account into a LendingCrowd ISA account and all that remains in the normal account is just 3 loans, all of which are either in default or  late. The bad news is that one loan went into recovery – and at the moment it looks like it may prove difficult to recover any meaningful amount.

The ISA account has the largest number of loans ever so far at 94.

All Accounts

Income August 2017: £0.50 – £0.04 Service Fees – £66.71 bad debt deemed irrecoverable  = £-66.25 Net

Total Income to Date: £174.35 – £19.13 Service Fees – Bad debt = £88.51 Net

Balance: £4567.32 (down on last month due to the bad debt)

 

FundingSecure

I’m now invested in 8 loans, all of them types of property or land. Interest payments to date are £101.44. I’ve also taken the opportunity to open an account for Mrs J with a spare £125 I had. Interest payments so far are £2.39 on two loans.

PropertyMoose

 

I explained last month that payments from SPV’s (Special Purpose Vehicles) are classed as dividends.

Total invested so far is £3711.19, on ten different properties and dividends of £27.42 have been received to date.

 

Total Holdings as at September 1st 2017

income statement

 

Lendinvest: £11280.41

LendingCrowd: £155.06

LendingCrowd ISA: £4574.13

FundingSecure: £2778.83

PropertyMoose: £3738.71

TOTAL: £22,527.14

This represents 12.29% of the mortgage outstanding of £183,364.09.

At the current point in time repayment of the mortgage would therefore be by using:

£22,527.14 from my P2P Investment Portfolio (12.29%)

£160,836.95 from my SIPP (87.71%)

Of course, I have another 9 years to alter the balance here which means increasing the value of the P2P portfolio and therefore reduce the amount needed from my SIPP.

It’s important to note that, since I am over the age of 55 then I can choose to take money from my SIPP at any time. The first 25% of this, at the date of writing, can be taken tax free. Obviously the ideal would be to take the required money (in this case £160,836.95) tax free which implies a SIPP value of £643,347.80.

 

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