Mover1

I've been using Transferwise for about a year now. Just sent £9500 with guaranteed rate of 44.97 baht, and will receive 424,625 baht with a fee of £58.15 or 2616 baht. Money should arrive by Monday 25th September.

Looking on the TT rates the best at the moment is 44.85, multiply that by 9500 and you get 426,075. A difference of 1450 baht if I had the cash here and managed to exchange for the best rate of 44.85. 

As I'm writing this the Transferwise guaranteed rate has just gone up to 44.99! 

6 minutes ago, Craig krup said:

 

And that's it, and that's it, and that's it, and that's it, and that's it. There's nothing I can say. The difference between the two things I've identified - the two different constructions of "covered" - is as clear as the difference between mayonnaise and an F15, but there's nothing that anyone can do. Folk just won't read anything closely, they won't slow down, they won't stop and think and there's nothing that anyone can do. 

 

If I lend £85,000 through a peer-to-peer site, and it is covered by the FSCS, and the people I've loaned to pay £1,000 to the site and nothing else, would being covered  entitle me to £85,000, or £1,000? 

 

If you think it could possibly mean 85 then there's nothing I can say. Spleeble flip fra fra nyet. Language breaks down. There's nothing. We should be in the middle of the jungle in Guyana drinking barbiturates. 

 

Hume was right. Reason has a very small part to play in human affairs. 

Ah well, like i said at the start mate, it's all a risk. 

As i side note every accountant (bar one) has been a colossal pain in the rear by overcomplicating things and missing the big picture. Just doing their jobs i guess, much like solicitors. Got to justify the hourly fee.........

Have a great evening. 

2 hours ago, Craig krup said:

 

If - IF - the Financial Services Compensation Scheme "covered" peer-to-peer lending what percentage of the total population do you think would be able to grasp the distinction between, 1) the organization has to return your residual monies, if any, after losses on loans made, and 2) you're covered against losses? 

 

5%? 10%?

I'm not really sure what you mean. I was wondering whether any P2P is covered by FSCS in the same way that UK bank accounts are up to £85k? Wishful thinking on my part i guess, ah well. 

12 hours ago, Craig krup said:

 

When I was an obnoxious schoolkid - quite bright, but a waster - the option if you didn't want to take French was Accountancy. I was instantly good at it. Some folk just seem to find money difficult. On Friday I was talking to a clever bloke who has a physics degree, and he wanted my advice about a page of "savings accounts" he was looking at: he'd just come into a load of money. Needless to say these really good savings accounts were peer-to-peer lenders. When I explained what this meant he said what another clever bloke I know said: "Ah, but you;re covered by the financial compensation scheme up to eight five grand". He actually f*****g thought that - in some possible world - you could lend someone unreliable (say) fifty grand at 8%, and if they didn't pay back you'd still get your money. How the **** could that possibly be how the world worked? How can people be so bloody stupid? I had someone tell me the same thing about bond funds. They thought the money they'd sank into a corporate bond fund (7% interest when the banks were paying 1%) was completely safe because the compensation scheme would kick in. I've got a pal with an Economics degree who has a load of buy-to-let properties. He said that he owed the banks the money or the properties. The stupid **** actually thought that it was a one-way bet. Either the price went up, and which case he won big, or the price fell and he could walk away. It was quite a revelation to him when I pointed out that the flats would be repossessed, sold at auction, the legal and auction costs added to the debts, and the whole lot his problem for decades, with assets seized, wages arrested and (perhaps) employers firing you for breaching your terms of employment. 

 

Peer-to-peer lending is a disaster waiting to happen. If you're desperate for income a cheap covered call option share fund is a reasonable idea. I used to invest in Fidelity Enhanced Income. It's the basic mainly FTSE 100 Moneybuilder blue chip fund with what's called a "covered call option" strategy added to it. If you own a lot of it through Alliance Trust Savings the costs are very low. Basically you own a massive spread of ordinary shares (AstraZeneca, HSBC, British American Tobacco, GlaxoSmithKline...) and the fund managers sell other people the right to buy the shares at higher prices. So if share prices rise the fund under-performs as you get "called away" - the managers have to sell the shares at the agreed price, but you still make a gain. If the option price is never reached they keep the option money, and it pads the dividends. It's a pretty bog-standard approach to generating a lot of income. The capital returns are poor, but you're looking at nearly 7% income and the possibility of growth. You could make losses, but I'd invest in this before I went near peer-to-peer lending. 

OOOhh i feel like i've just been told off, haha!

Like i said, it's all a risk Craig. No one mentioned anything about protection in P2P from the FSCS, but you've got me wondering if its covered now. Obviously P2P lending doesn't appeal to you, ah well - Up To You mate. I'm not a massive advocate of it, just part of my plan, right or wrong. Guess i'll find out in a few years.

Anyone fretting about the value of GBP should just invest their money somewhere (away from Thailand) so it's making more money, and try not to worry about things that are out of their control.

Can there be a risk of a property price crash. ?

Thanks for the reply U235, yeah it's looking like an industrial one would be best. Maybe a bit of overkill for cat food though, haha. Someone else has suggested a different hand grinder that might do raw bones as well as meat.

The reason for doing it is from reading up on whats best for cats to eat, as one of mine has been getting a lot fatter than the other lately. Been feeding only dry food and this vet's blog (http://catinfo.org/making-cat-food/) has convinced me to make my own food for them, or at least only feed them 'wet' food. Thought i'd try and do them a favour and turn them into athletes so they stand a better chance if attacked by any local stray dogs.

Cheers for the replies everyone, will check them out.

I've put some into a peer-to-peer lender called Assetz Capital, and it's been fine so far. Currently averaging 6.42% return, been investing for around 7 months with them. Their borrowers tend to have loans secured on assets and it shows the level of LTV (Loan To Value) on each one, which is usually property.

They've also added a Quick Access account which pays 3.75% while funds are sitting idle and waiting to be invested. 

Of course it's a risk, same as buying shares or owning rental properties. A crash could balls it all up. Buying gold through Bullionvault is my hedge in case a crash did ever happen. Just wish i'd bought a few grands worth of Bitcoins a few years ago! Haha

This might sound a bit strange but i'm looking for a decent meat grinder to make my own cat food, so it's got to be able to easily grind up chicken thighs/drumsticks/raw bones.

Anyone know where i can get one or recommend any decent makes / models?

I'm located in Phuket so either local to there or online and delivered if possible.

Cheers in advance

This might sound a bit strange but i'm looking for a decent meat grinder to make my own cat food, so it's got to be able to easily grind up chicken thighs/drumsticks/raw bones.

Anyone know where i can get one or recommend any decent makes / models?

I'm located in Phuket so either local to there or online and delivered if possible.

Cheers in advance

I come across this language course while wasting time on Facebook, anyone tried their workshop? Especially at their bootcamp, i'd be interested to hear from someone who's actually done it and spent the 42,000 baht they're asking for it - http://j3.learnthaionline.com/index.php 

Haha, the Remaoners still looking down their noses at us thicko's who voted out. Still makes me laugh when i hear their butthurt comments 

On 28/07/2017 at 0:48 AM, Sheryl said:

I am not at all sure BUPA uses true medical experts at all. They seem to use people with little medical knowledge who work off charts of symptoms and possible associated conditions. I have known them to come up with some pretty far fetched things as a result.

I suggest you switch to Cigna Global. They are far more sophisticated in their medical understanding and as a result much more reasonable in how they handle preexisting conditions. If you accept a deductible and/or copay the premium will be about the same for a much higher level of cover.

Wow i just tried Cigna for a quote and their cheapest was 70,000 baht. Is that the normal price for a 44 year old uk expat in thailand? Seems excessive

I've just got a Thai bike license this month, it wasn't as straightforward as others have mentioned! Haha. When i applied i was given a ticket to come back TWO months later and do what i thought was the rest. Turns out that was to be tested on whether you can tell green/red/amber lights apart, then sit through 4 hours of mind numbingly boring (and a bit strange) videos about road safety, then do a multiple choice theory test afterwards - which i failed. I got 43 out of 50 right, the pass is 45 out of 50. Two weeks later i went back and took the test again, and failed again (42), but was told to take it again straight after, then passed it :) Then onto the practical test on the little training course. The examiner walks everyone round and tells you what they want you to do, its not difficult. Consists of three tasks - go / stop at lights - go along a raised 2ft wide, 20 ft long platform for no shorter than 10 seconds to test your balance - then go round a roundabout. It's hard to fail that to be honest, and then that qualifies you to drive any size bike you like! No wonder the roads are dangerous lol. Total outlay around 800baht for application and docs, plus petrol, and about 8-9 hours of time spent  i'd guess. Bit of ball ache but what isn't eh? It was pretty frustrating at times because you're sort of left in the lurch after each thing, i'm sure it could've been done in much less time.

Anyway, having a Thai bike license is great. Today me and a mate got stopped at a police check and the copper was well happy that i'd made the effort to get a Thai license, my mate on the other hand was fined 500 baht for not having any license on him. Well worth the time and effort IMO.

Thanks for all the comments and tips CNXBKKMAN, moonoi and pagallim - much appreciated :)

10 minutes ago, CNXBKKMAN said:

You don't have to spend a tonne of money to get a nice racing bike and it will be a pleasant shock after fatbike. My advice look at Giant or Trek( there are other brands too) with Sora components these may cost around 20k and be totally fine. If you want something better look at a 105 equipped model. Sometimes you will see an older model discounted if you are lucky. If you have never had a racing bike before I wouldn't go above the Shimano 105 level. Only buy a bike with a 50/34 compact crank which is more suitable for hills. 

      Whatever bike or shop you decide to buy at from the start say you want a 32 cassette fitted instead of the one it comes with. If the shop is not receptive to this consider going to a different shop. The 32 cassette will give you some climbing options for steepish hills.

          These kind of bikes work best with cycling shoes so aim to get some spd pedals and shoes early on. The cheapest Shimano mountain bike spd's are great about 1000 baht ( no need to spend more) and mountain bike shoes. You can walk around the 7-11 in MTB shoes. Road shoes and pedals offer no benefits unless you are aiming to get serious and win races. 

Thanks CNXBKKMAN, I've seen a few Giant and Trek bikes and wondered if they were any good. There's a bike shop near me in Chalong so will have another look and have a chat with the guys there about the components you mentioned, thats a great help. Cheers!

22 hours ago, moonoi said:

It's better to set yourself a budget unless you're happy to spend 500k+, which is quite easy in a high end bike!

A decent Aluminum framed roadbike with a carbon fork will set you back from 25-70k depending on component spec, a decent carbon framed roadbike from a major manufacturer starts from 45k upwards.

What is more important is how tall you are, if you need a frame size larger than 56cm your choice becomes very limited and 60cm+ will normally require a special order with a 3-6 month waiting time


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Thanks moonoi, appreciate the advice. I'm 5'11" or 180cm, what size frame would you recommend for me?

Hi,

I've got a fatbike that i use to go out on sometimes, but I don't really go off road at all. I've realized that this bike is really heavy compared to other road/racer type bikes, who usually zip past me with ease. Can you experienced guys recommend a road bike for me? I'm not sure what to get, which are the decent makes, and which are the ones i definitely shouldn't get. I haven't got a budget in mind but i can afford something decent, i'd just like something mid-range or even top of the range. The area I go around has some very steep hills, if that makes a difference.

If any of you guys can help i'd really appreciate it!

Cheers,

Agree with others, by far the best way is driving around all the streets and speaking direct with owners. Its the way i found my place, nice big two bed detached house for 15k a month but no pool. Water is free from a well, have to pay electric, internet, cleaner and gardener. I'd never have found it if i didn't spend the time (3 weeks) driving around every little Soi in the area, most places to rent just have a tiny little A4 sign at the front with a number to call. It was also a really good way to get to know an area, i found loads of places that i never knew existed before. As already stated most owners will give you a price and won't budge at all, its not like haggling at the markets. 

There's a lot of places being advertised on local Facebook groups now, so might be worth a try. Just search for items for sale Phuket, or Phuket renting and some pages/groups will come up.

When i was looking i came into contact with these guys who seemed pretty genuine: http://wmalexander.com owned and run by a guy from UK so easy to talk to. Viewed a couple of places but eventually found a this one on my own. You can search their website and see whats on offer for your budget though.

Good luck!

Has anyone mentioned these guys yet: http://www.powerphuket.com 

I had my pcx serviced there, they were fine. Run by a French guy and his son, specialise in Honda's but more geared towards pcx's, but may be able to help or point you in the right direction. If you go past the Stoned Crab Pub on your right, it's at the top of that hill on the left, just around the bend.

I've also used the guys opposite the Seashell Museum, they did a great job on my pcx and can recommend as others have already said.

Reading all these posts about poor quality tools in Thailand makes me think about opening up a decent supply outlet, haha

I had similar thinking to the OP before moving here a year ago, it was a no brainer for me. Nothing i owned had any real sentimental value, so i sold the lot. Came here with a suitcase and gradually bought stuff along the way when needed. Some stuff from Lazada was utter rubbish haha but some was half decent for the price (Bedframe, refrigerator, tv, utensils), bought other bits from Homepro and Index, nothing really fancy though. I quite liked buying new stuff and getting rid of the old, and I also like to find a bargain on some of the local Facebook groups, but each to their own. I'm a bit different in that i haven't got a wife or even a steady girlfriend, and i like to travel around to different countries when i feel like it, but i still think i'd have done the same thing regardless.

Whatever you choose i wish you good luck!

I used this one recently https://www.traveloka.com/en-th/ 

On 3/18/2017 at 6:07 AM, Elkski said:

Where is 4-10%?

 

I don't want to get off topic here, but i have a mixture of index funds, peer to peer lending and a rental property. Averaging between 6-7% across them all at the moment.