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Post by zzr600 on Apr 1, 2015 13:53:19 GMT
Looking at the completed loans, the rate of return appears to be very low, <1% in many cases for the duration of the loan www.moneything.com/p2p/Loan/ended.html Loan Interest (CS19) £700.00 £9.09 (CS18) £800.00 £6.05 (CS16) £700.00 £7.37 (CS10) £750.00 £5.31 (CS8) £1,000.00 £9.42 (CS7) £1,000.00 £8.98 (CS3) £1,300.00 £7.26 (CS2) £1,130.00 £6.25 Considering many will be lending quite small amounts against each loan to diversify, this equates to a return of pennies per investment. Is it even worth the hassle, considering there are so few loans on offer? |
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SteveT
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Post by SteveT on Apr 1, 2015 14:04:50 GMT
When any loan is repaid very quickly, there's inevitably relatively little interest collected. That's no different on RS, FC, etc. Those loans you've listed represent a very small % of what's currently lent out via MT, all at 1% per month with good asset backing. I'll happily rise to the challenge of clicking my mouse button every so often for that!
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Post by zzr600 on Apr 1, 2015 14:18:32 GMT
When any loan is repaid very quickly, there's inevitably relatively little interest collected. That's no different on RS, FC, etc. Those loans you've listed represent a very small % of what's currently lent out via MT, all at 1% per month with good asset backing. I'll happily rise to the challenge of clicking my mouse button every so often for that! With Ratesetter or Savingstream, the volume and size of loans is such it's quite easy to lend out a few thousand pounds and then forget about it for a few months. The volume and size on Moneything means a total portfolio of a few hundred £ at the most. Yes, rate of return if fully invested 100% of the time is 12% p.a., but this doesn't seem likely on this platform; add to that the effort to keep track of it all and monitor new loans.....
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SteveT
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Post by SteveT on Apr 1, 2015 14:23:49 GMT
I lend with RS and SS too (and FC, AC, AR, RB, FS) and each has its advantages and disadvantages. My first MT deposit was only 2 weeks ago and I now have >£3k invested, with total time expended probably less than 1 hour (since all new loan listings are notified in advance). No-one's forcing you, but personally I wish other platforms were as straightforward as MT!
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coop
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Post by coop on Apr 1, 2015 14:28:11 GMT
The reason these loans show very low levels of return is that they were 6 month pawn loans which had been taken out a long time before being offered on MoneyThing to investors; which made up the first batch of loans on MoneyThing. The interest shown here is only reflective of the period of time they were on platform for; in some cases only a few weeks. I imagine it was part of a "live test" as much as there to make serious money for investors!
Most of the pawn loans put up now have been signed within the last month so investors will get 5+ months worth of interest. (So on a grand that would be £50+ not £7ish)
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Post by duncandive on Apr 1, 2015 14:51:11 GMT
I lend with RS and SS too (and FC, AC, AR, RB, FS) and each has its advantages and disadvantages. My first MT deposit was only 2 weeks ago and I now have >£3k invested, with total time expended probably less than 1 hour (since all new loan listings are notified in advance). No-one's forcing you, but personally I wish other platforms were as straightforward as MT! Oak Trees and Accorns  I agree, plus try to remember that MT is still a Very Young p2p. They are doing an excellent job at building a solid foundation with all us forum folk. If you can get 1% per month some place else then you are welcome to do so.
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paulgul
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Post by paulgul on Apr 1, 2015 15:11:51 GMT
Is it even worth the hassle, considering there are so few loans on offer? Only you can answer that, if its not worth your hassle don't bother - it's that simple. I'm only a small time investor and I'm finding myself top heavy in MT at the moment but still investing in most things they throw at me.
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ianj
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Post by ianj on Apr 1, 2015 15:45:54 GMT
Is it even worth the hassle, considering there are so few loans on offer? If we're to believe that comments posted on this forum to date accurately represent the views of MT lenders in general then I feel you're swimming against a considerable tide of satisfaction. The early loans that had little time left on them ably demonstrated how the MT model worked and will probably have convinced may 'toe-dippers' to consider further 'immersion'.
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Post by uncletone on Apr 1, 2015 16:37:26 GMT
The volume and size on Moneything means a total portfolio of a few hundred £ at the most. Many folk here have differing opinions on the meaning of "a few hundred".  The investor who just dropped £30,000 on the Piper might disagree.
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bugs4me
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Post by bugs4me on Apr 1, 2015 19:40:02 GMT
Looking at the completed loans, the rate of return appears to be very low, <1% in many cases for the duration of the loan www.moneything.com/p2p/Loan/ended.html Loan Interest (CS19) £700.00 £9.09 (CS18) £800.00 £6.05 (CS16) £700.00 £7.37 (CS10) £750.00 £5.31 (CS8) £1,000.00 £9.42 (CS7) £1,000.00 £8.98 (CS3) £1,300.00 £7.26 (CS2) £1,130.00 £6.25 Considering many will be lending quite small amounts against each loan to diversify, this equates to a return of pennies per investment. Is it even worth the hassle, considering there are so few loans on offer? These smallish short term loans may or may not be history soon as it appears IMO that there is a preference for the Managed Portfolio. MT though are a young platform and are listening well to suggestions - again IMO.
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webwiz
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Post by webwiz on Apr 19, 2015 18:31:17 GMT
Looking at the completed loans, the rate of return appears to be very low, <1% in many cases for the duration of the loan www.moneything.com/p2p/Loan/ended.html Loan Interest (CS19) £700.00 £9.09 (CS18) £800.00 £6.05 (CS16) £700.00 £7.37 (CS10) £750.00 £5.31 (CS8) £1,000.00 £9.42 (CS7) £1,000.00 £8.98 (CS3) £1,300.00 £7.26 (CS2) £1,130.00 £6.25 Considering many will be lending quite small amounts against each loan to diversify, this equates to a return of pennies per investment. Is it even worth the hassle, considering there are so few loans on offer? I don't bother with these, but wait for a £10k or £20k portfolio to come along. Even then the loan is restricted to £250 for £2.50 a month. You also have the plane and property options open.
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Post by webbski9 on Apr 20, 2015 7:20:03 GMT
The point is simple; you are paid 12% pa.The timeline is not the issue.
And the MT platform is extremely easy to navigate plus,and this is a massive plus,the communication between Ed and us investors is absolutely second to none.
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Post by ravado on Jul 4, 2015 20:35:40 GMT
Hi I've been doing PtP for around 18 months and have just joined this forum. This is my first post on the forum and, as I have just joined Money Thing, I thought I'd give initial impressions. I'm glad of the small/short loans as it gives me a chance to dip my feet in the water. So far impressed with how quickly my first bank transfer was acknowledged and credited and the ease of use of the platform. Lending against artworks is fun and I've also put a punt on the plane too. I think MT looks promising and I'm hopeful the range and scope of loans will grow. All good so far!
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Post by MoneyThing on Jul 5, 2015 7:18:12 GMT
Hi I've been doing PtP for around 18 months and have just joined this forum. This is my first post on the forum and, as I have just joined Money Thing, I thought I'd give initial impressions. I'm glad of the small/short loans as it gives me a chance to dip my feet in the water. So far impressed with how quickly my first bank transfer was acknowledged and credited and the ease of use of the platform. Lending against artworks is fun and I've also put a punt on the plane too. I think MT looks promising and I'm hopeful the range and scope of loans will grow. All good so far! Thank you ravado for the comments and grateful that you felt compelled to write your first post about us! (Dad - if that is you, you really ought to notify the Moderators  )
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paulgul
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Post by paulgul on Jul 5, 2015 8:02:25 GMT
Hi I've been doing PtP for around 18 months and have just joined this forum. This is my first post on the forum and, as I have just joined Money Thing, I thought I'd give initial impressions. I'm glad of the small/short loans as it gives me a chance to dip my feet in the water. So far impressed with how quickly my first bank transfer was acknowledged and credited and the ease of use of the platform. Lending against artworks is fun and I've also put a punt on the plane too. I think MT looks promising and I'm hopeful the range and scope of loans will grow. All good so far! I think this comment sums up how a lot (all?) of us feel about MT, it would be good if some of the other platforms could follow suit. Oh, and welcome to the forums, I should warn you that it helps to have a warped sense of humour as well, to get the most out of the posts here 
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The investor who just dropped £30,000 on the Piper might disagree. 
)