oldgrumpy
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Post by oldgrumpy on Oct 29, 2015 11:04:39 GMT
I've put a bit into this, but together with a smaller bit in the Ferrari, that's enough for one borrower (around 10% of my MT stake so far is now with supercarman).
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jonno
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Post by jonno on Oct 29, 2015 11:13:10 GMT
I've put a bit into this, but together with a smaller bit in the Ferrari, that's enough for one borrower (around 10% of MY MT stake so far is now with supercarman). My sentiments exactly,although I'm closer to 15%.
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scraggs
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Post by scraggs on Oct 29, 2015 18:58:53 GMT
I am flying over to meet the borrower next week whereby he has kindly agreed to spend a morning together working with me in creating some stats & data from their own accounts for the benefit of investors. I made a start on compiling our own report but decided it would be best to work on it with the borrower since they have been in this market for the last 35 years. Kind regards, Ed The lack of this as of yet may have something to do with why they are not filling so quickly ?
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madpierre
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Post by madpierre on Oct 29, 2015 19:52:16 GMT
I don't need any facts and figures reassuring me about the viability of these loans: they are already clear enough for me. What I need is a 50% LTV maximum. I have invested in both supercars and will continue to do so but at 70% LTV I consider it high risk and am frustratingly having to invest cautiously, whereas I would rather throw £thousands at them. I think the high LTV is the crucial factor here
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scraggs
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Post by scraggs on Oct 29, 2015 20:08:02 GMT
I don't need any facts and figures reassuring me about the viability of these loans: they are already clear enough for me. What I need is a 50% LTV maximum. I have invested in both supercars and will continue to do so but at 70% LTV I consider it high risk and am frustratingly having to invest cautiously, whereas I would rather throw £thousands at them. I think the high LTV is the crucial factor here Indeed the LTV is one of the reasons I am leaving these alone.
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arbster
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Post by arbster on Oct 29, 2015 21:27:49 GMT
I don't need any facts and figures reassuring me about the viability of these loans: they are already clear enough for me. What I need is a 50% LTV maximum. I have invested in both supercars and will continue to do so but at 70% LTV I consider it high risk and am frustratingly having to invest cautiously, whereas I would rather throw £thousands at them. I think the high LTV is the crucial factor here I wonder if MoneyThing can let us know why these loans need to be 70% LTV. Unless AM plans on taking loans on every one of their cars, the LTV could have been maintained at 50%. Admittedly more loan agreements would have been required, which may have meant more paperwork/fees, but it would have made for a more reassuring diversification into a new security type. After all, the LTV is only relevant if the borrower defaults, at which point presumably something catastrophic has gone wrong in the world of supercars.
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paulgul
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Post by paulgul on Oct 30, 2015 8:53:11 GMT
Just noticed the supercar loan numbers have changed from AM... to MT... does this mean the end of supercars loans - they certainly don't seem very popular
Edit - Or perhaps Moneything are trying to hide which car loans belong to the "AM" company
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Post by Deleted on Oct 30, 2015 9:41:56 GMT
I think Ed is doing what he has done in the past, he is trying different things to find out what "sells", he tried aircraft and he tried some mortgages at the start and they took their time to loan out. His new trials are going to be with cars and property to see what moves. I bet he is looking at other partners to join the team. I think getting partners is generally good as long as they offer a nice steady stream of loans and MT gets a ring fenced loan supplier. This am 33% of the Lambo and 70% of the Ferrari are still available, these two are offering (as I understand it) a variable time period with a high LTV and assets that many of us don't understand. Let's see what happens over the weekend but I suspect these two will still have some loan left. Just to share, I consider the people who buy these cars to be mentally ill. The new props. opportunity appears to offer a varying rate of 12 or 9%, should be interesting. After all the present lenders have self-selected into people who want 12% for a 6 month loan. My own take on all this is the 500 lenders have a hard core of about 200 very active players, MT's processes so far have self-selected people who like to own a max of 1% of a loan up to about £500 or £1000 a pop. So, 200*£500=£100,000 is a nice size for a loan if you want it to flush out fast. I very much doubt MT need the loans to flush out fast so a loan of £200,000 would be a good maximum to offer lots of loan spread. If £200k makes up a tranche we could end up with a bunch of loans on the same property, if we do Ed, could you keep it simpler than say FS makes it please ?
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webwiz
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Post by webwiz on Oct 30, 2015 9:43:20 GMT
I don't need any facts and figures reassuring me about the viability of these loans: they are already clear enough for me. What I need is a 50% LTV maximum. I have invested in both supercars and will continue to do so but at 70% LTV I consider it high risk and am frustratingly having to invest cautiously, whereas I would rather throw £thousands at them. I think the high LTV is the crucial factor here Indeed the LTV is one of the reasons I am leaving these alone. LTVs are important when each loan is to a different borrower, but when a number of loans are to the same, commercial, borrower IMO LTVs are less important than the quality of the borrower. They are hardly likely to default on a single loan so any default would mean that the business is in serious difficulty. However if others think that 70% is too high I have a suggestion. MT could issue the loan in two categories, half on a preference basis (giving an effective LTV of 35%) and half on a subsidiary basis. The preference loans would be below 12%, (eg 10%) and the subsidiary loans at the same amount above 12% (eg 14%). If this were done I personally would be happy to invest at 14%.
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Post by Deleted on Oct 30, 2015 9:50:52 GMT
Indeed the LTV is one of the reasons I am leaving these alone. LTVs are important when each loan is to a different borrower, but when a number of loans are to the same, commercial, borrower IMO LTVs are less important than the quality of the borrower. They are hardly likely to default on a single loan so any default would mean that the business is in serious difficulty. However if others think that 70% is too high I have a suggestion. MT could issue the loan in two categories, half on a preference basis (giving an effective LTV of 35%) and half on a subsidiary basis. The preference loans would be below 12%, (eg 10%) and the subsidiary loans at the same amount above 12% (eg 14%). If this were done I personally would be happy to invest at 14%. I suggest that Ed would be crazy to take MT's "nice and simple" model and introduce that level of complexity, but stranger things have happened in life, glad you raised the idea though.
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jonno
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Post by jonno on Oct 30, 2015 9:56:17 GMT
Morning Ed.
I was going to put a bit of shrapnel on the Ferrari, but I haven't got the "invest now" button on my screen. Checked on the Lambo and it was OK. Is it a problem at my end or yours?
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paulgul
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Post by paulgul on Oct 30, 2015 10:01:06 GMT
Morning Ed. I was going to put a bit of shrapnel on the Ferrari, but I haven't got the "invest now" button on my screen. Checked on the Lambo and it was OK. Is it a problem at my end or yours? Ok with me (Using Chrome)
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jonno
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Post by jonno on Oct 30, 2015 10:05:51 GMT
Morning Ed. I was going to put a bit of shrapnel on the Ferrari, but I haven't got the "invest now" button on my screen. Checked on the Lambo and it was OK. Is it a problem at my end or yours? Ok with me (Using Chrome) Thanks. Just tried again and now seems OK. My £9 is going to make a real dent in this
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star dust
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Post by star dust on Oct 30, 2015 10:05:28 GMT
Morning Ed. I was going to put a bit of shrapnel on the Ferrari, but I haven't got the "invest now" button on my screen. Checked on the Lambo and it was OK. Is it a problem at my end or yours? It was alright for me. Did you perhaps invest yesterday and forget which side of 10 a.m you were? .
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jonno
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Post by jonno on Oct 30, 2015 10:08:23 GMT
Morning Ed. I was going to put a bit of shrapnel on the Ferrari, but I haven't got the "invest now" button on my screen. Checked on the Lambo and it was OK. Is it a problem at my end or yours? It was alright for me. Did you perhaps invest yesterday and forget which side of 10 a.m you were? . Eureka. By jove you've cracked it! I really am losing the plot.Thanks for helping me realise it
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