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Post by GSV3MIaC on Jun 4, 2018 14:05:53 GMT
I assume you mean you've got "all the long-sales-queue stuff up for sale" .. if there was anything juicy, and you listed it, it would be gone in a flash..
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Post by stevel on Jun 4, 2018 15:10:19 GMT
Nearly missed this one, the start date says 6/6/18 rather than 4/6/18. Looks like I just got in in time
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niceguy37
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Post by niceguy37 on Jun 4, 2018 16:29:24 GMT
I assume you mean you've got "all the long-sales-queue stuff up for sale" .. if there was anything juicy, and you listed it, it would be gone in a flash.. Actually, I managed to buy back almost all of the juicy stuff myself with some super-fast clicking. But it was worth the risk for me to get my loans into my IFISA, to try to curb my tax bill.
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Post by GSV3MIaC on Jun 4, 2018 19:48:25 GMT
Ah, I read the 'am intending to buy' as implying a timing gap of more than a few milliseconds .. I guess you meant 'sold and bought', as a more-or-less indivisible operation. I still have some long sales queue stuff listed for sale in my non ISA account, and bought someone else's for my ISA (on loans where I am willing to risk double or quits).
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GeorgeT
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Post by GeorgeT on Jun 4, 2018 22:00:44 GMT
It's been a top class day on the MoneyThing platform. Reminiscent of the good old days.
This loan was sold out in a matter of hours with not even any scraps left for tomorrow lunchtime when the bidding limit expires. In addition to that we had a 2% cashback added to a non fully funded loan and then an MT loan repayment as well.
If there was an award for platform of the day then MT would be today's undisputed winners.
I am sure the platform noticed the appetite for this particular loan and I hope they will direct their focus on securing more business of this ilk with a moderate loan size and good, easily realizable, bog standard security.
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empirica
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Post by empirica on Jun 4, 2018 22:12:13 GMT
It's been a top class day on the MoneyThing platform. Reminiscent of the good old days. This loan was sold out in a matter of hours with not even any scraps left for tomorrow lunchtime when the bidding limit expires. In addition to that we had a 2% cashback added to a non fully funded loan and then an MT loan repayment as well. If there was an award for platform of the day then MT would be today's undisputed winners. I am sure the platform noticed the appetite for this particular loan and I hope they will direct their focus on securing more business of this ilk with a moderate loan size and good, easily realizable, bog standard security. One thing that put me off was that interest is to be serviced rather than withheld at draw down. On the positive side, this may help ease increasing SM amounts as the loan ages as the risk of default _comparatively speaking_ remains constant through the life of the loan. (I think!?)
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GeorgeT
Member of DD Central
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Post by GeorgeT on Jun 4, 2018 22:28:21 GMT
It's been a top class day on the MoneyThing platform. Reminiscent of the good old days. This loan was sold out in a matter of hours with not even any scraps left for tomorrow lunchtime when the bidding limit expires. In addition to that we had a 2% cashback added to a non fully funded loan and then an MT loan repayment as well. If there was an award for platform of the day then MT would be today's undisputed winners. I am sure the platform noticed the appetite for this particular loan and I hope they will direct their focus on securing more business of this ilk with a moderate loan size and good, easily realizable, bog standard security. One thing that put me off was that interest is to be serviced rather than withheld at draw down. On the positive side, this may help ease increasing SM amounts as the loan ages as the risk of default _comparatively speaking_ remains constant through t0he life of the loan. (I think!?) Yes you've put your finger on the main drawback of this loan which prevented it from getting 10 out of 10. However it scored well in other respects and I think the golden days of smallish loans backed by mainstream, existing property with 12 months interest held upfront are a thing of the past. Perhaps we have to adjust to a new normal which reflects the fact that the P2P sector has grown and matured and more lenders are chasing fewer borrowers and hence the lenders have had their power to dictate terms reduced somewhat. Possibly if MT had insisted on the icing on the cake they may have lost the loan altogether.
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Post by df on Jun 4, 2018 23:12:37 GMT
It's been a top class day on the MoneyThing platform. Reminiscent of the good old days. This loan was sold out in a matter of hours with not even any scraps left for tomorrow lunchtime when the bidding limit expires. In addition to that we had a 2% cashback added to a non fully funded loan and then an MT loan repayment as well. If there was an award for platform of the day then MT would be today's undisputed winners. I am sure the platform noticed the appetite for this particular loan and I hope they will direct their focus on securing more business of this ilk with a moderate loan size and good, easily realizable, bog standard security. Size really matters. It wouldn't fill so easily if it was a multimillion adventure. Also today's Lichfield repayment helped a lot. I've put half of Lichfield return + other recent repayments in this loan, but didn't add anything to 3rd advance with 2% CB - I already have enough in first advance. I wish they told us at the beginning how many advances the loan will have, so we can plan in advance.
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empirica
Member of DD Central
Posts: 326
Likes: 235
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Post by empirica on Jun 6, 2018 18:24:39 GMT
It's been a top class day on the MoneyThing platform. Reminiscent of the good old days. This loan was sold out in a matter of hours with not even any scraps left for tomorrow lunchtime when the bidding limit expires. In addition to that we had a 2% cashback added to a non fully funded loan and then an MT loan repayment as well. If there was an award for platform of the day then MT would be today's undisputed winners. I am sure the platform noticed the appetite for this particular loan and I hope they will direct their focus on securing more business of this ilk with a moderate loan size and good, easily realizable, bog standard security. Size really matters. It wouldn't fill so easily if it was a multimillion adventure. Also today's Lichfield repayment helped a lot. I've put half of Lichfield return + other recent repayments in this loan, but didn't add anything to 3rd advance with 2% CB - I already have enough in first advance. I wish they told us at the beginning how many advances the loan will have, so we can plan in advance. Not sure if this is a loan specific 'wish' or a more general requirement, but isn't is possible to work out what your commitment to each tranche should be based on the maximum quoted LTV (or LTGDV, if you prefer)? eg: Max LTV 70%, first tranche is 30%, so receives 43% of what you are prepared to commit to the loan overall. 2nd tranche takes it to 50% so you can commit another 29% of your 'pot' for the loan? Or have I misunderstood? (Sorry _ only just starting to take a look at MT so there could be some operation nuance I am missing.)
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toffeeboy
Member of DD Central
Posts: 500
Likes: 359
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Post by toffeeboy on Jun 6, 2018 18:34:28 GMT
Size really matters. It wouldn't fill so easily if it was a multimillion adventure. Also today's Lichfield repayment helped a lot. I've put half of Lichfield return + other recent repayments in this loan, but didn't add anything to 3rd advance with 2% CB - I already have enough in first advance. I wish they told us at the beginning how many advances the loan will have, so we can plan in advance. Not sure if this is a loan specific 'wish' or a more general requirement, but isn't is possible to work out what your commitment to each tranche should be based on the maximum quoted LTV (or LTGDV, if you prefer)? eg: Max LTV 70%, first tranche is 30%, so receives 43% of what you are prepared to commit to the loan overall. 2nd tranche takes it to 50% so you can commit another 29% of your 'pot' for the loan? Or have I misunderstood? (Sorry _ only just starting to take a look at MT so there could be some operation nuance I am missing.) Or buy up to your maximum of any tranche that you like as in he end they are all equal come the final payout so the number of tranches makes no difference what so ever.
I understand your point of investing in each tranche but come the end of the loan it makes no difference what so ever which tranche you invested in so why not earn interest the whole of the loan from the start assuming you can purchase enough of it.
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Post by df on Jun 6, 2018 21:19:24 GMT
Size really matters. It wouldn't fill so easily if it was a multimillion adventure. Also today's Lichfield repayment helped a lot. I've put half of Lichfield return + other recent repayments in this loan, but didn't add anything to 3rd advance with 2% CB - I already have enough in first advance. I wish they told us at the beginning how many advances the loan will have, so we can plan in advance. Not sure if this is a loan specific 'wish' or a more general requirement, but isn't is possible to work out what your commitment to each tranche should be based on the maximum quoted LTV (or LTGDV, if you prefer)? eg: Max LTV 70%, first tranche is 30%, so receives 43% of what you are prepared to commit to the loan overall. 2nd tranche takes it to 50% so you can commit another 29% of your 'pot' for the loan? Or have I misunderstood? (Sorry _ only just starting to take a look at MT so there could be some operation nuance I am missing.) Not loan specific, but general. It could be possible to work out for some loans. I don't know if anyone worked out that Col's Bolton will have 20+ tranches when it turned into DL? Somehow, AC is able to post the schedule of further advances when the loan goes live. It is better when this information is provided than letting lenders to work it out (or guess) themselves.
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jlend
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Post by jlend on Mar 11, 2019 9:46:14 GMT
Hi MoneyThingCould you provide an update on this next time. Latest indication suggest that the refinance should complete in March
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ptr120
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Post by ptr120 on Mar 19, 2019 17:35:02 GMT
Just a gentle nudge on this to MoneyThing SophieThing is this still likely to refinance within this month?
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pickles
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Post by pickles on Apr 7, 2019 7:33:21 GMT
No interest? Non-performing again?
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ptr120
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Post by ptr120 on May 30, 2019 12:43:04 GMT
Now extended by three months suggesting the previously mentioned refinance has fallen through.
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