elliotn
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Post by elliotn on Feb 11, 2015 7:17:02 GMT
Anyone used these yet? c12% pa on low LTVs where Capital Mortgages Direct re-assign short term, asset backed loans they have already originated. Looks like online pawn broker where you're directly assigned to individual loans (& I guess reliant on default procedures getting the asset if someone did a runner!). www.moneything.com/about/ "High, fixed interest rates – 1% per month Low risk – asset secured with low Loan-to-Value No ‘dead’ time – your money is earning interest as soon as you invest in a loan Flexible terms – you can lend from between 3 months and 12 months Full and open transparency"
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Post by wiseclerk on Feb 11, 2015 7:55:21 GMT
Seems you spotted them right after they started:
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debeast
(o)(o)
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Post by debeast on Feb 11, 2015 14:28:02 GMT
Facebook page has 3 likes so far
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Investor
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Post by Investor on Feb 11, 2015 14:41:43 GMT
I particularly like the Interest Calculator on the lending page
e.g
I would like to invest
£100.00
for a period of
3 months
so the total interest I will earn is £3.00
This will be transferred into your account in monthly installments of £1.00
which can purchase 1L of Fresh Milk
or
I would like to invest
£30,000
for a period of
9 months
so the total interest I will earn is £2700.00
This will be transferred into your account in monthly installments of £300.00
which could offset the average family monthly food bill
'*Please note that the above examples are merely guidelines and may be subjective.'
Hours of fun once you have got over the Americani'z'ation of the spelling of instal'l'ments.
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ianj
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Post by ianj on Feb 11, 2015 15:00:03 GMT
Thought I'd see how it compared with FundingSecure.
I registered and eventually (manual process?) was sent an activation code. Only problem now was that the "Activate Account" button was inactive! Tried four different browsers but "Activate" remained stubbornly passive.
Email sent and 'Support' has informed me that the 'Technical Officer' is now looking at the problem.
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Post by bengilbert on Feb 11, 2015 17:50:07 GMT
Has anyone clarified the security structure? eg security trustee? or savingstream/Lendy model? I couldn't see anything on first looking around, may have missed it.
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Post by mrclondon on Feb 11, 2015 18:04:43 GMT
The website does a poor job of explaining what's what ( davee39's post on another thread this morning resonates somewhat here). Have any of those who have committed funds to the site established where and by whom the (pawn) assets listed here are held during the loan ? And hence concluded what is the consequence of the company listed on the pdf loan agreement going bust during the loan ? I've had a few emails with MoneyThing over the last week, which raise as many questions as they answer. I'm told the website will be updated in due course.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Feb 11, 2015 18:23:21 GMT
I registered with them last week; theyve only just gone live, haven't done a proper launch yet and have a number of things to iron out. Not in a hurry to invest just yet, but I'll keep my eye on it. If FS were to continue with what is hopefully a temporary situation of nothing much but property and reducing rates, then I'd get a bit more serious about it.
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ianj
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Post by ianj on Feb 11, 2015 19:38:10 GMT
I registered and eventually (manual process?) was sent an activation code. Only problem now was that the "Activate Account" button was inactive! MT bypassed their normal activation mechanism and I'm now able to navigate the site. My immediate concern is with the predominance of unhallmarked jewellery. To date I've found only 1 item that is claimed to be 'hallmarked', all others are 'unmarked' or 'marked' (non-british hallmark?). How is the metal quality established without a hallmark? The 'Trading Standards guide to buying or selling Jewellery' states...... . It is an offence under the Hallmarking Act to describe articles as being made totally or partly of gold, silver, platinum or Palladium, supply or offer to supply an article that is made of gold, silver, platinum or palladium which have not been hallmarked.
I don't know if the above has any relevance in pawnbroking, but I'm pretty sure unhallmarked items cannot be described at auction as being gold/silver etc!
The style of jewellery does not appear to me to be the most attractive, but then what would a fashion philistine like me know about these things?
Think I'll pass for now.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Feb 11, 2015 19:40:30 GMT
Is this the trading name of an Isle of Man company? Not sure how the FCA regulation works, when the company is registered outside the UK and Europe.
On 8th Jan 2015, Capital Mortgages Direct Limited registered in the Isle of Man as a Foreign Company.
The valuation report for the industrial units is addressed to the Isle of Man registered address.
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Post by gaspilot on Feb 12, 2015 7:12:21 GMT
This is taken from their website:
'MONEYTHING.COM is a trading name of Capital Mortgages Direct Ltd, Registered in England & Wales in 2004. Registered office is 39 Church Crescent, Whetstone, London, N20 0JR (Company No. 05254797). Capital Mortgages Direct Limited is (interim) authorised and regulated by the Financial Conduct Authority (No. 562505). Capital Mortgages Direct Limited is not covered by the Financial Services Compensation Scheme.'
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Post by gaspilot on Feb 12, 2015 7:15:18 GMT
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Post by batchoy on Feb 12, 2015 8:09:42 GMT
This is taken from their website: 'MONEYTHING.COM is a trading name of Capital Mortgages Direct Ltd, Registered in England & Wales in 2004. Registered office is 39 Church Crescent, Whetstone, London, N20 0JR (Company No. 05254797). Capital Mortgages Direct Limited is (interim) authorised and regulated by the Financial Conduct Authority (No. 562505). Capital Mortgages Direct Limited is not covered by the Financial Services Compensation Scheme.' However whilst the registered address is in England it is a residential address and the IOM address is offices, which would indicate that the business is actually carried out in the IOM.
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debeast
(o)(o)
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Post by debeast on Feb 12, 2015 9:33:50 GMT
I absolutely love the DD performed by members of this forum! IT what keeps me coming back again and again. Just for my 2c i won't even dip a toe until the come on here and chat to us about each and every concern that is raised. Just look what happened to SS. Turned from a very very bad start into something all (well me at least) of us now use No idea how we can even tell it's assets exisit on this one But thank you and well done everyone!!! /beastie
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bugs4me
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Post by bugs4me on Feb 12, 2015 13:21:54 GMT
This is taken from their website: 'MONEYTHING.COM is a trading name of Capital Mortgages Direct Ltd, Registered in England & Wales in 2004. Registered office is 39 Church Crescent, Whetstone, London, N20 0JR (Company No. 05254797). Capital Mortgages Direct Limited is (interim) authorised and regulated by the Financial Conduct Authority (No. 562505). Capital Mortgages Direct Limited is not covered by the Financial Services Compensation Scheme.' However whilst the registered address is in England it is a residential address and the IOM address is offices, which would indicate that the business is actually carried out in the IOM. It does look like a nice house though!!!! Think it would help if they visited this forum and introduced themselves - clear up a query here and there perhaps. Any chance of the moderators sending them an invite?
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