ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Nov 13, 2015 19:56:45 GMT
To bid larger sums, is it a secondary market that we need or reassurance that MT has all of the resources in place that may be required to deal with all potential aspects of loans of this type and size? Depends where you are personally. If you think you might have some need of some of your larger sums, then you'll be needing an SM regardless of what you feel about MT's credentials. If you are instead/as well not confident in MT's credentials then you need the re-assurances. That might sound a bit flippant, which I don't really intend it to, but what I really mean is that different people have different views and needs. You may think that anyone risking larger sums would automatically need more reassurance and be more wary, but it is often the case that they are less risk-averse, and that would often be why they have the larger sums at their disposal.
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jonbvn
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Post by jonbvn on Nov 13, 2015 20:29:19 GMT
To bid larger sums, is it a secondary market that we need or reassurance that MT has all of the resources in place that may be required to deal with all potential aspects of loans of this type and size? Depends where you are personally. If you think you might have some need of some of your larger sums, then you'll be needing an SM regardless of what you feel about MT's credentials. If you are instead/as well not confident in MT's credentials then you need the re-assurances. That might sound a bit flippant, which I don't really intend it to, but what I really mean is that different people have different views and needs. You may think that anyone risking larger sums would automatically need more reassurance and be more wary, but it is often the case that they are less risk-averse, and that would often be why they have the larger sums at their disposal. No. What I need is to diversify! SM provides this.
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Steerpike
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Post by Steerpike on Nov 13, 2015 21:12:58 GMT
I have been diversifying savings for many years, but not once did I feel the urge to invest £255k in to one FSCS backed savings account and then decide shortly afterwards to withdraw two thirds of it to put somewhere else. Each to their own I suppose.
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jonah
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Post by jonah on Nov 13, 2015 21:23:57 GMT
As someone unable to take part in fastest finger activities due to their timing, I'm hoping this will unlock another potential investment route. I depends how liquid and the demand vs supply ratio I suspect, as if the buyers massively out number sellers it could be like SS before they started prefunding.
Fingers crossed though.
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jonbvn
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Post by jonbvn on Nov 13, 2015 21:31:19 GMT
I have been diversifying savings for many years, but not once did I feel the urge to invest £255k in to one FSCS backed savings account and then decide shortly afterwards to withdraw two thirds of it to put somewhere else. Each to their own I suppose. Sorry but your analogy is nonsense! I want to diversify into different loans. Is that really so difficult for you to understand???
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Post by mrclondon on Nov 13, 2015 22:19:16 GMT
I have been diversifying savings for many years, but not once did I feel the urge to invest £255k in to one FSCS backed savings account and then decide shortly afterwards to withdraw two thirds of it to put somewhere else. Each to their own I suppose. Sorry but your analogy is nonsense! I want to diversify into different loans. Is that really so difficult for you to understand??? A bit of an emotive response for a Friday evening. Chill ! As per john334's comment, I think none of MT's "fastest finger first loans" will have SM liquidity - its been clear from the renewals that the vast majority of people roll them forward, so I'm not convinced that a SM is the answer to your need for diversification. It is inevitable on a platform where the majority of the loans are at the smaller end of the scale.
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jonbvn
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Post by jonbvn on Nov 13, 2015 22:23:44 GMT
I hope that a SM will aid diversity but the loans don't last that long and there's a shortage of supply. I don't think an MT SM is necessarily going to provide the opportunities to buy existing loans that people might be hoping for. I certainly won't be selling any of mine. Surely most people can wait 6/12 months to get their loan capital back? What people are more interested in, I suspect, is getting the early bidder bonuses then selling but I don't think early bidder bonuses are going to be the norm so the only thing that's going to be on the SM is this one loan and it may stay unsold on the SM for a considerable time. So how do you know what loans will be available going forward? I don't see why MT cannot offer something similar to what is available on SS wrt a SM and diversification.
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Post by uncletone on Nov 13, 2015 22:31:55 GMT
So how do you know what loans will be available going forward? I don't see why MT cannot offer something similar to what is available on SS wrt a SM and diversification. I'm not sure what it is that you are getting annoyed about. Why do you say "I don't see why MT cannot offer something similar to what is available on SS"? Ed has been telling us for some time it is being implemented, and now says the secondary market will be available around the end of the month.
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Post by vithca on Nov 29, 2015 10:28:50 GMT
Ed, are you still on target for launching the SM in the next few days?
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Post by Deleted on Nov 29, 2015 10:40:04 GMT
What I like is Ed seldom makes full-on commitments to dates, yet when he does he achieves to those commitments. Right now I see no target and I'm confident that what he does deliver will have been tested.
Other portals please take note.
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paulgul
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Post by paulgul on Nov 29, 2015 10:57:06 GMT
Right now I see no target and I'm confident that what he does deliver will have been tested. Perhaps not a definite target, but in another thread Ed, did suggest it was on track for a launch at the end of Nov subject to testing during the week just past
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madpierre
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Post by madpierre on Nov 29, 2015 12:52:26 GMT
I reckon testing the Secondary Market will prove difficult... because Ed won't find anyone who wants to sell anything
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Post by mrclondon on Nov 29, 2015 13:17:37 GMT
Right now I see no target and I'm confident that what he does deliver will have been tested. Perhaps not a definite target, but in another thread Ed, did suggest it was on track for a launch at the end of Nov subject to testing during the week just past ... and (hopefully) learning any lessons from the less than satisfactory launch of the FS seconary market this last week.
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rogerbu
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Post by rogerbu on Nov 30, 2015 9:11:40 GMT
MoneyThing. Ed, before releasing the SM update. Would it be useful to let interested people on this forum play with the test/development system to find any wrinkles? Hopefully Shuang has learnt not to release properly tested updates on the live system without complete testing on the development system.
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Post by MoneyThing on Nov 30, 2015 9:55:38 GMT
Morning,
SM is coming along nicely and we have been testing on our development environment. Admittedly it has been useful to follow the launch of another platforms SM of late and as such we are making a couple of tweaks which will delay it by a couple of days at most (likely Wednesday/Thursday).
I will have a chat with Shuang a bit later to see if we can open up our development environment to a few willing volunteers to have a play around first.
Will revert back a bit later.
Kind regards,
Ed
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