bob2014
Member of DD Central
Posts: 54 
Likes: 3
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Post by bob2014 on Mar 9, 2015 16:47:13 GMT
not more property...
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Post by bracknellboy on Mar 9, 2015 17:12:31 GMT
@bobo: I think the point to consider is that - unless I've got the wrong end of the stick - the move into online pawn (*cough*) and the MT trading name is the really new venture; property lending is CMs bread and butter heritage business. Yes the online funding part of that is new and therefore the details as it pertains to us lenders is new etc. but I don't think MT is under any illusions other than at this stage the p2p element is likely to be no more than a small "co-funding" part.
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Post by mrclondon on Mar 9, 2015 17:26:19 GMT
Echoing some of the earlier comments my concern is that the property bridges take a lot of time in chasing legal bods before, during and after the loan term. Whether that time could be better spent in the short term concentrating on morphing your initial success with the CS pawn loans into a scaleable proposition is hard to say. I felt that FS and SS have both been driven into property loans to a certain extent by the margin available by virtue of them being large loans. Securing £300k of pawn loans from scratch is harder than a single bridging loan. However with your partnership model, providing the process can be streamlined significantly from where it is today, the buying in and redistribution of £300k of loans from CS is repeatable in return for "easy" margin for yourselves.
I also feel you will grow your lender base quicker by concentrating on the pawn business, there are plenty of alternative platforms for bridging loans.
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bugs4me
Member of DD Central
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Post by bugs4me on Mar 9, 2015 17:48:44 GMT
Echoing some of the earlier comments my concern is that the property bridges take a lot of time in chasing legal bods before, during and after the loan term. Whether that time could be better spent in the short term concentrating on morphing your initial success with the CS pawn loans into a scaleable proposition is hard to say. I felt that FS and SS have both been driven into property loans to a certain extent by the margin available by virtue of them being large loans. Securing £300k of pawn loans from scratch is harder than a single bridging loan. However with your partnership model, providing the process can be streamlined significantly from where it is today, the buying in and redistribution of £300k of loans from CS is repeatable in return for "easy" margin for yourselves. I also feel you will grow your lender base quicker by concentrating on the pawn business, there are plenty of alternative platforms for bridging loans. Agree with your sentiments mrclondon provided MT can keep scaling up the pawn side of the business to keep up with the growing number of lender/investors which ATM does not appear to be the case. If they can provide a sensible higher value outlet for lender funds looking for a new home then I cannot see why they should not run the two together. I have a couple of relatively high value loans due to mature shortly on another platform and I'm not inclined to re-invest these funds with them. Numerous reasons for my decision but if I'm not comfortable with what's being offered then I'd sooner stick the money under the mattress. If MT are funding the loan anyway and inviting folks to participate then that may just soak up some of the 'spare' money that isn't able to invest in the pawn side either due to per loan investment restrictions or the loans not being available at the right time - they do go ultra quick. So I cannot see a problem at this stage. Now if property loans become all consuming then that's another matter.
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Post by MoneyThing on Mar 10, 2015 8:46:24 GMT
Morning,
Thank you again for all your feedback - incredibly useful.
I can see that property divides opinion and I may put the odd one up on the platform if we have already lent our own money on it. I will certainly make as much information available to view in order for investors to make an informed decision. David & Capital Mortgages Direct have primarily been involved in property bridging for a number of years and have built up a great deal of experience in this area. My involvement is relatively new with the P2P layer and exploring the asset finance/pawn market which I want to retain as part of our core offering.
Kind regards,
Ed
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bugs4me
Member of DD Central
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Post by bugs4me on Mar 10, 2015 9:08:04 GMT
Morning, Thank you again for all your feedback - incredibly useful. I can see that property divides opinion and I may put the odd one up on the platform if we have already lent our own money on it. I will certainly make as much information available to view in order for investors to make an informed decision. David & Capital Mortgages Direct have primarily been involved in property bridging for a number of years and have built up a great deal of experience in this area. My involvement is relatively new with the P2P layer and exploring the asset finance/pawn market which I want to retain as part of our core offering. Kind regards, Ed Sounds like a wise move Ed - nothing to loose. Please though can we have some advance warning as to when it will go live. It certainly helps that you've gone some skin on it yourself.
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rogerbu
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Post by rogerbu on Mar 10, 2015 9:25:21 GMT
My thoughts are.
1. It is the non property/pawn side that is attracting me and it seems many others to MT - don't loose a loyal customer base in a growing market niche for an already crowded market
2. You appear to be proposing a Wellxx type of operation.
Capital Mortgage Direct use their experience and take on a PBL that they are happy with.
Part of that PBL is available to MT customers. CMD still holding the majority of the loan and hence the most risk.
Success now and in the future will depend on investors trusting Capital Mortgage Direct's judgement, legal expertise and record on recovery
So CMD transparency and its relationship to MT will be key.
If I can be confident in CMD and its relationship to MT, I would certainly be interested is a PBL from CMD
However. Please keep the pawn loans coming
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