wuzimu
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Post by wuzimu on Sept 25, 2018 14:09:19 GMT
the K*****e loan is on the wrong platform,
its a bendy LY loan
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coop
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Post by coop on Sept 25, 2018 14:46:45 GMT
I'm seeing a lot of sour grapes here. Sorry if that's upsetting to those of you who have lost substantial sums of money but the cold hard honest truth is this: If you get upset and get your knickers in a twist because of 1 or 2 bad defaults and hop off to another platform you won't stay with any of them very long! Chances are you overinvested in said loan(s) if it's causing you untold heartache and anger. If you can't take a loss on the chin and move on and analyse remaining options objectively without letting your emotions rule over you; maybe this whole P2P game isn't your thang. I will concede it is cold, not so sure about the hard honest truth bit. On this occasion feedback is being asked for and sugar coating was not specified, so if some of that feedback tastes of sour grapes I would assume that is ok. (You may also want to read some of your own recent posts, some have a slight tang of tart grape). I felt from the initial launch of this loan that it was not going to be popular, I don't think at this time it would be popular on any platform. Pulling it and not repeating the mistake would be the smart move. Well. I concede I complain about things too. But I'm also very aware I'm 100% complicit in any losses I have had, it was always my decision to make, not anybody else's. I was referring mostly to the dragons den type "I'm out of xyz platform because I got a default" posts - MT has EIGHT defaults. Of which several seem to be recovering a decent amount leaving only 3 or so absolute lemons. I doubt you'll find a platform which can operate for a few years without picking up one or two. FS has about 30% non performing loans or something like that; I still wouldn't bother with a "I'm never investing there again" shtick - if they had any loans that I liked on their own merits I would probably invest. I just don't understand what promised land people are expecting to find...
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romy
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Post by romy on Sept 25, 2018 18:37:25 GMT
I still like MT!-like their communications. Not keen on the K****** one,as others have said: PP already refused, doesn't seem to be local enthusiastic support, Brexit uncertainty, property market uncertainty. I have put a little bit into it,but only about 10% of what I'd put into one I really liked. If one of the defaults that I've got a chunk in pays back I might put a little more in but max of the same again.
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Post by queenvictoria on Sept 26, 2018 6:11:16 GMT
MT is the best of the platforms in my opinion but my concern with re-investing is the valuations in which I have lost confidence. Recent defaults on MT and elsewhere have shown property valuation provided for these purposes to be largely a work of fiction and something I can no longer trust to be anywhere near accurate. My preference is to withdraw for a while when I can and see how things develop before coming back in (or not).
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SteveT
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Post by SteveT on Sept 26, 2018 7:02:35 GMT
There hasn’t been much discussion on this loan on the forum and it would be useful to understand lenders thoughts. I put some funds into this loan when it first launched, having reviewed the planning appeal summary and deciding the odds of success for a revised application were good. However, at the current LTV, I'm not likely to add to my initial stake. If the borrower genuinely is keen to proceed, I would suggest capping this loan at £1m (50% LTV) and launching the remaining £400k as a 2nd-ranking priority loan at 15% or 16%. The blended rate across the 2 tranches would then be around 13% and it should appeal both to more cautious lenders and to risk-takers. (NB. At those rates, the 2 tranches should have genuine ranking priority so that, in a recovery situation, T1 has rights to capital and accrued interest before T2 starts to be repaid).
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Post by Ace on Sept 26, 2018 7:22:08 GMT
There hasn’t been much discussion on this loan on the forum and it would be useful to understand lenders thoughts. I put some funds into this loan when it first launched, having reviewed the planning appeal summary and deciding the odds of success for a revised application were good. However, at the current LTV, I'm not likely to add to my initial stake. If the borrower genuinely is keen to proceed, I would suggest capping this loan at £1m (50% LTV) and launching the remaining £400k as a 2nd-ranking priority loan at 15% or 16%. The blended rate across the 2 tranches would then be around 13% and it should appeal both to more cautious lenders and to risk-takers. (NB. At those rates, the 2 tranches should have genuine ranking priority so that, in a recovery situation, T1 has rights to capital and accrued interest before T2 starts to be repaid). This is the best idea I've seen so far and worth trying, but I doubt it would fill even then.
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dovap
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Post by dovap on Sept 26, 2018 8:09:02 GMT
Looks another poor offering tbh I'd hazard a guess that a lot of the current 'investors' are after the instant return and hoping for a cancellation
loving the idea of a tranche b - it's certainly a winner I've got all my Birko B compo ready to go for that
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r00lish67
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Post by r00lish67 on Sept 26, 2018 9:42:17 GMT
Ref: the thread title Ed MoneyThing is Wigan on the way out on schedule then? Re: reinvestment, I said withdraw, but if IoW arrives from the pipeline with similar terms to FS then I'll definitely be interested. Strongly suspect lenders would find £650k fairly easily for that one.
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johni
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Post by johni on Sept 26, 2018 12:20:28 GMT
Ref: the thread title Ed MoneyThing is Wigan on the way out on schedule then? Re: reinvestment, I said withdraw, but if IoW arrives from the pipeline with similar terms to FS then I'll definitely be interested. Strongly suspect lenders would find £650k fairly easily for that one. Fully agree don't think that will have any problems filling
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Post by df on Sept 26, 2018 15:32:51 GMT
I've already invested on day 1 in K****** up to a limit I consider appropriate for this kind of risk area. Definitely won't put any more. A year ago I'd invest a triple of this. Property loans, especially large, are no longer a desirable type for me. Any more property loans from pipeline come along - I will probably invest a little bit. I don't have a dilemma what to do with repaid funds, there is a lot or parking space for waiting funds. If pawn loans return to platform, I will significantly increase my investments on MT.
I don't think there is much chance for this new loan to be filled, I'm surprised it wasn't already pulled. It is too large and not attractive.
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Post by MoneyThing on Sept 27, 2018 13:18:34 GMT
Afternoon.
Just a quick thank you to all that posted and or voted on this thread with your feedback.
Whilst we have been considering whether there is the possibility of restructuring the current loan to make more attractive, none of the options considered would work in this instance. As such, we have just withdrawn this loan and those who participated have received their investment & interest.
Thanks again,
Ed
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Post by Deleted on Sept 27, 2018 13:32:46 GMT
I think monetus put it very well, my fears of brexit means that a lot of my money has moved into non-sterling investments and this is continuing. Col was a disaster for the industry while Lendy's silence is frustrating. I know that should not affect my views on MT but.... it does. Valuations on property across the board have been disappointing and I like MT's slow and steady approach to sorting it all out, I did invest in this final loan and keep MT and albrate at the top of my P2P brand list.
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Post by flobberchops on Sept 27, 2018 18:17:09 GMT
As such, we have just withdrawn this loan and those who participated have received their investment & interest. Easiest money I ever made, thanks for that! (Although it was only pennies).
Thanks for your candour and willingness to take investor feedback. Although I moved the majority of my returned cash off-platform for now I'll be back as soon as some vehicle/pawn loans become available. Any chance you could tempt AE back?
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Post by MoneyThing on Sept 27, 2018 19:06:30 GMT
As such, we have just withdrawn this loan and those who participated have received their investment & interest. Easiest money I ever made, thanks for that! (Although it was only pennies).
Thanks for your candour and willingness to take investor feedback. Although I moved the majority of my returned cash off-platform for now I'll be back as soon as some vehicle/pawn loans become available. Any chance you could tempt AE back?
Regretfully AE have got plenty of institutional funding in place to take them where they want to go. However, they have indicated they would like some more stocking finance to feed into their other facility in due course. Keep an eye out on the intermittent weekly updates.
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easylender
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Post by easylender on Sept 28, 2018 9:33:34 GMT
For me the three rules of P2P investing are diversify, diversify, and diversify. But diversification requires a steady flow of new lending opportunities, and I’ve not seen that from MT for about 9 months now. So my returned funds are leaving MT. I find this situation disappointing because the platform and the people seemed to me to be of the best in P2P.
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