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Post by MoneyThing on Sept 24, 2018 10:21:57 GMT
Morning,
I would be grateful for some feedback if possible.
I have been a little surprised that the current available loan is not being taken up as much as I had expected. I appreciate there are a number of factors which might affect this but wanted to understand whether it is worth keeping the loan available for a little longer to see if the imminent loan repayments will help it get over the line or if lenders have other designs for their repaid monies?
There hasn’t been much discussion on this loan on the forum and it would be useful to understand lenders thoughts.
Many thanks,
Ed
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Sept 24, 2018 10:32:59 GMT
What percentage of your lender base have agreed your changed Ts & Cs Ed? Perhaps there are many, like me, who would consider investing but can't because they haven't agreed and don't want to?
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Sept 24, 2018 10:37:20 GMT
Ed, I've been with you from the start, but have been burnt with some of your property deals particularly Birkenhead, so at the moment I'll be withdrawing. I know it's probably difficult to scale but you really do need to get back to what started us backing you in the first place i.e. good quality pawn style deals.
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coop
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Post by coop on Sept 24, 2018 10:38:45 GMT
tbh Ed the big property ones aren't really for me at the moment - this has as much to do with liquidity as it does security. I'm a relatively small fish (for me P2P stands for Pauper2Pauper) so won't make much of a difference hither or thither...
Even if security is totally watertight I ideally am looking to have 30-40% of my funds in loans I can sell down relatively quickly so investing heavily in loans with 6 figure sums waiting to be bought already isn't really going to do it for me!
best of health and success as always!!
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Post by MoneyThing on Sept 24, 2018 10:46:12 GMT
What percentage of your lender base have agreed your changed Ts & Cs Ed? Perhaps there are many, like me, who would consider investing but can't because they haven't agreed and don't want to? Thanks ozboy. We analysed the statistics last week and of our active users only 109 have not signed our terms and conditions. SophieThing is happy to discuss any concerns you have should you wish to message/email/speak to her. Regards, Ed
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KoR_Wraith
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Post by KoR_Wraith on Sept 24, 2018 10:51:21 GMT
Large loan reliant on development finance to exit which is dependent on planning permission. In the past I would likely have invested but burnt fingers on other large loans have made me cautious. I would be more interested at 60% LTV.
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Post by MoneyThing on Sept 24, 2018 10:56:23 GMT
Ed, I've been with you from the start, but have been burnt with some of your property deals particularly Birkenhead, so at the moment I'll be withdrawing. I know it's probably difficult to scale but you really do need to get back to what started us backing you in the first place i.e. good quality pawn style deals. Acknowledged, thanks jonno. Perhaps we might see you back again once the loan you refer to has been concluded with respect to the ongoing recovery. We will continue to consider non-property asset backed loans where available. Regards, Ed
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Post by MoneyThing on Sept 24, 2018 11:05:42 GMT
Even if it was a decent loan it would be a struggle given the size. I briefly looked at it, saw it didn't even have PP and left it. Decent loans <£500k is the only way to go. Thanks jeepers. I would just mention that it does currently have PP for leisure for which the current valuation & LTV is based upon. Regards, Ed.
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Post by Deleted on Sept 24, 2018 11:23:11 GMT
Brexit uncertainty means I'm now fully out of property until the chaos passes.
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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
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Post by ilmoro on Sept 24, 2018 11:33:42 GMT
What percentage of your lender base have agreed your changed Ts & Cs Ed? Perhaps there are many, like me, who would consider investing but can't because they haven't agreed and don't want to? Thanks ozboy. We analysed the statistics last week and of our active users only 109 have not signed our terms and conditions. SophieThing is happy to discuss any concerns you have should you wish to message/email/speak to her. Regards, Ed How many 'active' users are there Ed (by that I mean have invested in last 6 months, since default rate has increased/loan flow has slackened) Also what sort of investors are those 109 is a key question. If theyre all BH then that is an issue.
Im afraid I have been taking money off platform recently, mainly because of the lack of opportunities, and have reduced my exposure to property loans where possible. I have invested in recent opportunities but smaller amounts than I did a year ago. Same goes for the other members of the ilmoro clan. (Same on Lendy - AC is beneficary) Options dont really fit that so Ive gone other, partial reinvest
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jcm9000
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Post by jcm9000 on Sept 24, 2018 11:35:08 GMT
I'm slowly reducing all my P2P - especially with property and (so far) being in limbo with Col for quite a bit of my hard earned pennies. Quite the change to throwing money in last year. Brexit is of course another major concern as it will take time for the effects of that to flush through to property prices. I fully expect defaults to rise and the market for selling property, even at distressed rates, to be challenging... In short my confidence is knocked, and I expect I am not the only one with the same story. Lat year I was happy to throw say £1k at a loan. Now - £200 at most.
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archie
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Post by archie on Sept 24, 2018 11:35:18 GMT
The current loan is rather large and LTV too high considering the current climate. I didn't think it would fill so it seemed a little unfair to take any interest.  At first glance the other pipeline loans appear better value to me. I reserve judgement on 143 as care sector may not be popular. Article here. While I have quite a lot in defaults I'm fairly happy with progress. The MTAS administrator in particular does seem to be doing a good job. A pity Birkenhead isn't being handled in house.
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averageguy
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Post by averageguy on Sept 24, 2018 11:44:56 GMT
I’ll be reinvesting some and withdrawing some...other?
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withnell
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Post by withnell on Sept 24, 2018 11:45:33 GMT
If it was car/pawn/wine related, I'd happily reinvest; property loans on MT are far too illiquid right now and, while I have every faith that recoveries will come in, there isn't a strong track record of monitoring property loans to avoid this going the same way
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hazellend
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Post by hazellend on Sept 24, 2018 11:53:03 GMT
I’ve put my money into the current loan.
I’m not sure why it is shifting so slowly, the security seems ok to me. Maybe needs either cashback, higher rate or lower LTV as a show of confidence from the borrower
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