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Post by MoneyThing on Jun 3, 2015 7:49:51 GMT
As requested - we have created this separate thread for the purposes of posting information on New Loans or Pipeline Loans.
Ideally, I would be grateful if the thread is kept to MT posting only so that members can 'bookmark' the thread and get notifications when new loans are imminent rather than notifications on general commentary around the loans.
For any discussion/queries please go to the thread 'MoneyThing - Loan Updates'.
Kind regards,
Ed
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Post by MoneyThing on Jun 3, 2015 14:15:29 GMT
Afternoon,
The £21,630 loan against a collection of 7 cars (including the 911), will be going up on the platform tomorrow (4th) at midday to go live for bidding at 4pm. (More details to follow).
The loan I suggested I would have news on yesterday will be delayed until next week as the borrower has gone on holiday. (Circa. £150,000).
We have just valued a 1969 S2 Jaguar E Type Coupe which is in very good condition at £46,000. I am just awaiting to find out how much they wish to borrow (up to £27,000).
Kind regards,
Ed
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Post by MoneyThing on Jun 3, 2015 15:25:40 GMT
Afternoon,
The owner of the 1969 Jaguar E Type S2 Coupe has decided they wish to borrow £18,000 against this car (valued at £46,000).
Car Details:
The car was a concours winner in the 1990s. The car has since had mechanical renovation (engine rebuild, rear end rebuild), as well as full bodywork renovation – sills, arches, floors, doors, full respray. The interior was refurbished in late 2013. The mechanical work was done in 2012 (and then ongoing) and the bodywork was done early 2014. The car is in very good rather than excellent condition. The current mileage is 79,143.
Loan is likely to be drawn down on Monday 8th June and will be uploaded onto the platform the same day.
Kind regards,
Ed
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Post by MoneyThing on Jun 8, 2015 8:22:07 GMT
Afternoon, The owner of the 1969 Jaguar E Type S2 Coupe has decided they wish to borrow £18,000 against this car (valued at £46,000). Car Details: The car was a concours winner in the 1990s. The car has since had mechanical renovation (engine rebuild, rear end rebuild), as well as full bodywork renovation – sills, arches, floors, doors, full respray. The interior was refurbished in late 2013. The mechanical work was done in 2012 (and then ongoing) and the bodywork was done early 2014. The car is in very good rather than excellent condition. The current mileage is 79,143. Loan is likely to be drawn down on Monday 8th June and will be uploaded onto the platform the same day. Kind regards, Ed Morning, This loan was drawn down this morning. We are are therefore going to upload the loan to Preview at midday today to go live at 4pm (bid limit of £270). Email & tweet will go out at midday. The car will remain with the borrower which is one of the largest Classic Car hire companies in the UK which has been running for a number of years. The car will continue to be hired out during the course of the loan under their full comprehensive insurance and will continue to be maintained to a high standard. (All the cars papers & log book remain with MoneyThing). Kind regards, Ed
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Post by MoneyThing on Jun 24, 2015 17:50:09 GMT
Evening,
The borrower of the Jaguar E Type is now looking to borrow a further £20,000 secured against a 1974 Jensen Interceptor Series 3 and a 1965 Jaguar MK2 3.4.
As per the E Type, the car will remain with the borrower (one of the largest Classic Car hire companies in the UK). The cars will continue to be hired out during the course of the loan under their full comprehensive insurance and will continue to be maintained to a high standard. (All the cars papers & log book remain with MoneyThing).
Car Details:
Jensen 1974 Series 3 7.2 V8 owned by the borrower since 2006. In their ownership the car has had a rebuilt engine, refurbished interior, £KKs spent on maintenance (new stainless exhausts, brake overhaul, new sills etc). There is some bubbling around the front arches but otherwise the car is in very good condition and probably one of the most reliable Jensens out there. Mileage is 112k. The car is blue with a red interior and was subject to a ground-up factory restoration in 1990.
Jaguar Mk2 3.4 1965 car with Moss box. Totally original, has never been taken apart for restoration so drives as it should. It is in good condition with just some blistering around the wings and headlights detracting. As with the Jensen the borrower has done a lot of work on this car over the years. It is grey with a red leather interior. Milage is 102k.
We have valued these two cars at £28,000 & £19,000 respectively, thus giving an overall LTV of 43%.
I hope to get the loan on the platform tomorrow (with pictures of these two beautiful cars), with an initial £300 bid limit. Emails, tweets & posts to follow.
Kind regards,
Ed
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Post by MoneyThing on Jun 24, 2015 18:10:53 GMT
Evening,
We are now in the final stages of finalising £60,000 of Managed Portfolio's which we anticipate starting to upload from Friday. We are not quite finalised on whether they will comprise of 6 x £10,000 or 3 x £20,000 but will let you know.
Kind regards,
Ed
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Post by MoneyThing on Jun 24, 2015 18:56:19 GMT
Evening,
Please find below some more information with respect to the art loan recently discussed in the forum.
I met with the borrowers today, had the paintings appraised and took possession of the eight pieces in secure and insured premises.
The loan will be finalised tomorrow and I will then look to put the loans on the platform either later tomorrow or Friday. For flexibility for the borrower, the loans have been split up into eight individual loans against each of the works totalling £80,000. The loans will be for 6 months, although they will likely extend the loans into a second 6 month term.
The appraised value of the works have been undertaken based on a Fair Market Value based on the current market. However the valuer has informed me that these original works are very popular at the moment and are continuing to increase in value and therefore their value will likely be significantly higher in 6/12 months time.
Details:
'City Lights' by Andrei Protsouk. Loan amount - £12,500, valued at £29,000 (43% LTV)
'French Kiss' by Andrei Protsouk. Loan amount - £7,500, valued at £17,000 (44% LTV)
'Paradise Latte' by Andrei Protsouk. Loan amount - £11,000, valued at £25,000 (44% LTV)
'London Cocktails' by Andrei Protsouk. Loan amount - £11,000, valued at £25,000 (44% LTV)
'C3PO' by JJ Adams. Loan amount - £11,000, valued at £26,000 (42% LTV)
'The Rat Pack' by JJ Adams. Loan amount - £9,000, valued at £21,000 (43% LTV)
'Droids Playing Poker' by JJ Adams. Loan amount - £9,000, valued at £21,000 (43% LTV)
'The Tardis (Gone Fishin')' by JJ Adams. Loan amount - £9,000, valued at £21,000 (43% LTV)
(Photos will be uploaded.)
Kind regards,
Ed
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Post by MoneyThing on Jun 25, 2015 7:45:57 GMT
Evening, The borrower of the Jaguar E Type is now looking to borrow a further £20,000 secured against a 1974 Jensen Interceptor Series 3 and a 1965 Jaguar MK2 3.4. As per the E Type, the car will remain with the borrower (one of the largest Classic Car hire companies in the UK). The cars will continue to be hired out during the course of the loan under their full comprehensive insurance and will continue to be maintained to a high standard. (All the cars papers & log book remain with MoneyThing). Car Details: Jensen 1974 Series 3 7.2 V8 owned by the borrower since 2006. In their ownership the car has had a rebuilt engine, refurbished interior, £KKs spent on maintenance (new stainless exhausts, brake overhaul, new sills etc). There is some bubbling around the front arches but otherwise the car is in very good condition and probably one of the most reliable Jensens out there. Mileage is 112k. The car is blue with a red interior and was subject to a ground-up factory restoration in 1990. Jaguar Mk2 3.4 1965 car with Moss box. Totally original, has never been taken apart for restoration so drives as it should. It is in good condition with just some blistering around the wings and headlights detracting. As with the Jensen the borrower has done a lot of work on this car over the years. It is grey with a red leather interior. Milage is 102k. We have valued these two cars at £28,000 & £19,000 respectively, thus giving an overall LTV of 43%. I hope to get the loan on the platform tomorrow (with pictures of these two beautiful cars), with an initial £300 bid limit. Emails, tweets & posts to follow. Kind regards, Ed UPDATE: Since the borrower only needs the funds from Wednesday (to buy another classic), I have offered to start the loan on Tuesday which he has gladly accepted. I will still put the loans up today so you will have plenty of time to look through the particulars before going live on Tuesday (email, post & tweet nearer the time on Monday also). Regards, Ed.
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Post by MoneyThing on Jun 25, 2015 16:33:37 GMT
Evening, Please find below some more information with respect to the art loan recently discussed in the forum. I met with the borrowers today, had the paintings appraised and took possession of the eight pieces in secure and insured premises. The loan will be finalised tomorrow and I will then look to put the loans on the platform either later tomorrow or Friday. For flexibility for the borrower, the loans have been split up into eight individual loans against each of the works totalling £80,000. The loans will be for 6 months, although they will likely extend the loans into a second 6 month term. The appraised value of the works have been undertaken based on a Fair Market Value based on the current market. However the valuer has informed me that these original works are very popular at the moment and are continuing to increase in value and therefore their value will likely be significantly higher in 6/12 months time. Details:'City Lights' by Andrei Protsouk. Loan amount - £12,500, valued at £29,000 (43% LTV) 'French Kiss' by Andrei Protsouk. Loan amount - £7,500, valued at £17,000 (44% LTV) 'Paradise Latte' by Andrei Protsouk. Loan amount - £11,000, valued at £25,000 (44% LTV) 'London Cocktails' by Andrei Protsouk. Loan amount - £11,000, valued at £25,000 (44% LTV) 'C3PO' by JJ Adams. Loan amount - £11,000, valued at £26,000 (42% LTV) 'The Rat Pack' by JJ Adams. Loan amount - £9,000, valued at £21,000 (43% LTV) 'Droids Playing Poker' by JJ Adams. Loan amount - £9,000, valued at £21,000 (43% LTV) 'The Tardis (Gone Fishin')' by JJ Adams. Loan amount - £9,000, valued at £21,000 (43% LTV) (Photos will be uploaded.) Kind regards, Ed UPDATE: These loans have now been uploaded for preview to go live at 12pm tomorrow. Kind regards, Ed.
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Post by MoneyThing on Jun 26, 2015 9:55:30 GMT
Evening, We are now in the final stages of finalising £60,000 of Managed Portfolio's which we anticipate starting to upload from Friday. We are not quite finalised on whether they will comprise of 6 x £10,000 or 3 x £20,000 but will let you know. Kind regards, Ed UPDATE: We have now finalised the batches and we are now looking to launch 4 x £20,000 MPs (£80,000) next week with the first on Monday at 10am, then the 2nd on Tuesday 10am, etc. Kind regards, Ed.
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Post by MoneyThing on Jul 3, 2015 12:39:41 GMT
Afternoon,
We are just in the process of putting together another £50,000 of MPs for early next week. (More details to follow).
Kind regards,
Ed
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Post by MoneyThing on Jul 13, 2015 12:30:07 GMT
Afternoon,
Just in the process of finalising a further £50,000 portfolio to go live on Wednesday this week.
This portfolio is different in that rather than being watches/jewellery, it is made up of electronics (laptops, phones, consoles, cameras, sat navs, etc.). As these assets depreciate a lot faster than jewellery, all the assets contained within the Portfolio are under a 1 (or occasionally 2 month) Buy Back agreement rather than a 6 month 'pawn' agreement.
Due to the short nature of these Buy Back agreements, the contents of the Portfolio will change on a daily basis.
Otherwise the Portfolio will retain the same characteristics of the other Portfolios with a 6 month term and the option to renew/liquidate at 6 months.
The loan will go up for preview later today or tomorrow morning for investors to view the initial Portfolio composition before going live at 4pm Wednesday.
Kind regards,
Ed
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Post by MoneyThing on Jul 13, 2015 19:07:04 GMT
Evening,
A new loan will be uploaded tomorrow/Wednesday (email, tweet & post to follow), for £20,000 secured on a pristine 2006 Porsche 911 Turbo valued at £40,000 (42,000 miles).
Regards,
Ed
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Post by MoneyThing on Jul 14, 2015 10:21:32 GMT
Evening, A new loan will be uploaded tomorrow/Wednesday (email, tweet & post to follow), for £20,000 secured on a pristine 2006 Porsche 911 Turbo valued at £40,000 (42,000 miles). Regards, Ed Note: The borrower for this loan is the same person who previously borrowed against two Rolex watches (MT112 & MT113). The borrower is also about to redeem loan MT112 (£3,500) over the next few days. Regards, Ed.
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Post by MoneyThing on Jul 14, 2015 12:55:44 GMT
Evening, A new loan will be uploaded tomorrow/Wednesday (email, tweet & post to follow), for £20,000 secured on a pristine 2006 Porsche 911 Turbo valued at £40,000 (42,000 miles). Regards, Ed Update: This loan is now available for preview to go live at 4pm today.
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