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Post by GSV3MIaC on Sept 20, 2017 8:02:03 GMT
I wish MoneyThing would fix their T&Cs so I could buy some.... 14% at 50% LTV looks better than some fishy options elsewhere.
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Gruff
Posts: 63
Likes: 68
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Post by Gruff on Sept 20, 2017 8:34:57 GMT
Looks like the borrower paid something like £150k. Hard to be exact as cant tell if interest was paid from the submission if they emptied their bank account for the odd amount, my suspicion is interest pre paid by MT was deducted and rest was used to pay back capital. Its funny as now with the lower LTVs and 14% interest these would probably fly off the shelf on the SM if trading in defaulted was allowed. No need for any discouning, but had they not had a payment on account, I bet most people would have discounted heavily to try to shift if that option was there. As much as currently the defaults situation looks bad at MT, this and Lytham could predictably turn out fine for lenders, Birk I am not so sure but they way these are dealt with could add further confidence in MT as opposed to losing it. Totally agree
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robski
Member of DD Central
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Likes: 462
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Post by robski on Sept 20, 2017 8:37:50 GMT
Update just posted in regards these loans on the MT site
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averageguy
Member of DD Central
Posts: 1,165
Likes: 841
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Post by averageguy on Sept 20, 2017 17:46:52 GMT
Looks like the borrower paid something like £150k. Hard to be exact as cant tell if interest was paid from the submission if they emptied their bank account for the odd amount, my suspicion is interest pre paid by MT was deducted and rest was used to pay back capital. Its funny as now with the lower LTVs and 14% interest these would probably fly off the shelf on the SM if trading in defaulted was allowed. No need for any discouning, but had they not had a payment on account, I bet most people would have discounted heavily to try to shift if that option was there. As much as currently the defaults situation looks bad at MT, this and Lytham could predictably turn out fine for lenders, Birk I am not so sure but they way these are dealt with could add further confidence in MT as opposed to losing it.I'd say dented as regards to losing ...imho
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registerme
Member of DD Central
Posts: 6,212
Likes: 6,021
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Post by registerme on Oct 6, 2017 11:54:43 GMT
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,877
Likes: 11,102
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Post by ilmoro on Oct 6, 2017 11:56:00 GMT
Cryptic RM
Full recovery of both supercar loans - capital and interest
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badersleg
Member of DD Central
Posts: 181
Likes: 78
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Post by badersleg on Oct 6, 2017 11:57:45 GMT
Has anyone received the money in their accounts yet?
Tim
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,745
Likes: 3,138
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Post by jonno on Oct 6, 2017 11:59:57 GMT
Has anyone received the money in their accounts yet? Tim Bloomin' heck. Give 'em a minute.
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james100
Member of DD Central
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Likes: 1,197
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Post by james100 on Oct 6, 2017 12:02:01 GMT
They appear to be processing right now. Both have been removed from tab of shame aka defaults and are now showing as completed. I'd imagine cash will be forthcoming shortly. Nice work.
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liso
Member of DD Central
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Post by liso on Oct 6, 2017 12:06:18 GMT
Excellent news! Well done.
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jcm9000
Member of DD Central
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Post by jcm9000 on Oct 6, 2017 12:24:20 GMT
Excellent. Job done, cheers MT!
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seeingred
Member of DD Central
Posts: 470
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Post by seeingred on Oct 6, 2017 12:26:40 GMT
36 minutes after the email and still no cash. Must be lunch break.
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Post by MoneyThing on Oct 6, 2017 12:36:06 GMT
...bear with us. Lenders will be repaid very shortly. Regards, Ed
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Post by MoneyThing on Oct 6, 2017 12:44:40 GMT
...bear with us. Lenders will be repaid very shortly. Regards, Ed ...repayments underway now...
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Post by MoneyThing on Oct 6, 2017 12:50:58 GMT
...bear with us. Lenders will be repaid very shortly. Regards, Ed ...repayments underway now... Repayments now complete. Kind regards, Ed.
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