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Post by ladywhitenap on Jun 8, 2015 11:26:44 GMT
I've been lurking on the MT website for a couple of weeks now just watching and wondering whether to take a punt.
So far I've seen three new loans be advertised for inspection at noon and open for bidding at 4pm - I quite like that model especially the bid limits to stop people hogging it.
There is also a bit of a dodgy looking on MT30 where the building has the roof secured by ropes EEK! - funnily enough people are not flocking to that opportunity.
Can anyone comment on whether this rate of loans is typical or is the trend downwards lately.
I'm already with REBS loaning some 'spare' income I have and now my state pension starts soon and I'll have a further £500 PCM to stash away.
So should I dive in here?
What does the team think?
TIA
LW
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 8, 2015 11:44:23 GMT
I've been lurking on the MT website for a couple of weeks now just watching and wondering whether to take a punt. So far I've seen three new loans be advertised for inspection at noon and open for bidding at 4pm - I quite like that model especially the bid limits to stop people hogging it. There is also a bit of a dodgy looking on MT30 where the building has the roof secured by ropes EEK! - funnily enough people are not flocking to that opportunity. Can anyone comment on whether this rate of loans is typical or is the trend downwards lately. I'm already with REBS loaning some 'spare' income I have and now my state pension starts soon and I'll have a further £500 PCM to stash away. So should I dive in here? What does the team think? TIA LW Loan flow has been a little slower recently as the main source of loans was through MTs pawnbroker partner and inevitably that source has slowed after the initially flurry. There has also been a shift away from individual pawn loans to the Managed portfolios and it clearly will take time to amass 10k of microloans over & above those being recycled through the existing portfolios. However, Ed has indicated that he is very close to securing a further partner so hopefully there will be an increse in loan flow shortly as these come on to the platform, higher ticket has also been indicated. IMHO, which doesnt constitute advice, MT is the ideal platform for small investors looking to drip money in on a regular basis, but perhaps not yet for big investors as there are few opportunities for £500+ chunks. Plane & buildings the only 2 I can recall since limits imposed. (Incidently buildings are due to repay shortly Ed has advised)
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SteveT
Member of DD Central
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Post by SteveT on Jun 8, 2015 12:14:33 GMT
I agree with il moro. MT is proving a handy addition to my P2P portfolio but there's a limit (perhaps a few hundred pounds per week) to how much money can be fed in currently. Assuming the new partner loans start appearing as Ed has indicated, that limit may rise. And it will need to once more of the existing loans start repaying (as MT30 will in a matter of weeks, according to Ed's recent loan update post). Responsiveness to questions & suggestions and speed of money transfers are second to none.
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jonbvn
Member of DD Central
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Post by jonbvn on Jun 8, 2015 12:32:02 GMT
I agree with the above posters. MT is an ideal platform to drip feed money into. In my short experience of the platform it does not lend itself to large lump sum investments (yet).
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webwiz
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Post by webwiz on Jun 8, 2015 15:09:05 GMT
Should you leap in? No definitely not! Then there would be less for the rest of us.  |
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Post by ladywhitenap on Jun 8, 2015 16:32:50 GMT
Thanks for your replies including yours Webwiz!!
LW
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