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Post by bracknellboy on Apr 1, 2015 18:51:08 GMT
Given that the Loan Upates thread is getting rather long, thought I'd put this in a new thread. MoneyThing: This loan is showing as a 3 month loan with minimum 1 month term. Given the amount to be filled, (which you have made a great start on) how long are you leaving the bidding to run ? Is interest being paid from the point at which a bid is placed - on the basis that the loan is already made and funded by MT: if so then my question is irrelevant. |
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Post by MoneyThing on Apr 1, 2015 19:09:28 GMT
Evening bracknellboy,
All the MoneyThing loans (including the aircraft), are already purchased (Partner loans) or lent on directly by MoneyThing before they are presented on the platform.
This model is adopted so that MoneyThing can respond quickly and definitively to Borrower requirements but also means that interest is being earned by Investors as soon as they invest in a loan (regardless if it has been fully funded).
Hope I have explained this clearly but please say if not.
Kind regards,
Ed
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Post by gaspilot on Apr 17, 2015 13:34:58 GMT
I see some people have invested £1 and £2 in this loan.
Assuming the loan is for three months at 12% the return per pound invested is 3 pence.
It hardly seems worth it.
Is there some ulterior motive for investing these sums?
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SteveT
Member of DD Central
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Post by SteveT on Apr 17, 2015 14:00:25 GMT
I guess they may just be reinvesting interest received on other loans?
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coop
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Post by coop on Apr 17, 2015 14:43:24 GMT
I see some people have invested £1 and £2 in this loan. Assuming the loan is for three months at 12% the return per pound invested is 3 pence. It hardly seems worth it. Is there some ulterior motive for investing these sums? Last time I checked 3p was still more than nothing!
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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 Apr 17, 2015 15:56:42 GMT
I'm surprised this loan hasn't filled more quickly. The LTV is only 27.78%.
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webwiz
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Post by webwiz on Apr 19, 2015 18:16:47 GMT
I'm surprised this loan hasn't filled more quickly. The LTV is only 27.78%. The risk seems much higher than pawn shop items. A plane can literally fly away and so can the borrowers - literally or metaphorically. Lenders would then be reliant on MT surviving the loss. (Even so I am in for a 4 figure amount.) Later - now fully funded.
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