Investments do rise and do fall in value and we strongly advise that professional advice is taken before investing your money
As reported in The Times by Harry Wilson 24th July 2017.
Ratesetter revealed to clients of its peer- to- peer lending platform last week that it had taken over vehicle trading group, a sub-prime auto industry business, which had defaulted on £38m it owed its customer, the report goes on to say Liberum, a city stockbroker, have calculated that customers of Moneybarn motor lending unit are on average using close to a quarter of their monthly income to make car repayments and then once adding in rent and credit card debt this takes the figure to c66% of the borrowers monthly wage, before they have even put food on the table.
For my readers, there are two points here, as a lender (saver) be careful who you lend your money too as you may not get it back if the borrower has no assets and the second is that the borrower described above has a low probability of retiring even modestly if they do not change their spending habits.
Steven is a Fellow of the Personal Finance Society, whom is passionate about investing and getting the most from your money.
Steven Mufti & Associates Ltd is authorised and regulated by the Financial Conduct Authority.
Financial Services Register Number 607613.
Registered in England & Wales, Company number 8664240.
Registered Office address: 27 Armitage Court, Ascot, Berkshire, SL5 9TA.
Telephone: 01344 623811 Email: firstname.lastname@example.org
The guidance and or advice contained within this website is subject to the UK regulatory regime
and is therefore primarily targeted to customers in the UK.
The FCA does not regulate taxation advice. The value of your investments may fall as well as rise.
Financial Conduct Authority register: https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000NMlk7AAD