ablender
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Post by ablender on Nov 3, 2015 18:49:13 GMT
No I cannot find it either.
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scraggs
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Post by scraggs on Nov 5, 2015 14:00:16 GMT
Morning, Having just got back into the office this morning from my recent UK tour, I will be sending an email out later today to investors to give a quick update on Supercars & Property, however will just make a couple of notes here regarding supercars in advance. I can see that the uptake on the supercars have not been as quick as other loans. I can appreciate that the combination of 70% LTV & those investors awaiting our report (currently being penned), is understandably causing some investors to hold back. Has your pen run out of ink Ed ?
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paulgul
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Post by paulgul on Nov 5, 2015 15:45:34 GMT
Morning, Having just got back into the office this morning from my recent UK tour, I will be sending an email out later today to investors to give a quick update on Supercars & Property, however will just make a couple of notes here regarding supercars in advance. I can see that the uptake on the supercars have not been as quick as other loans. I can appreciate that the combination of 70% LTV & those investors awaiting our report (currently being penned), is understandably causing some investors to hold back. Has your pen run out of ink Ed ? I think he's borrowed a supercar and gone on a tour of Europe
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Bagman
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Post by Bagman on Nov 5, 2015 16:53:08 GMT
Has your pen run out of ink Ed ? I think he's borrowed a supercar and gone on a tour of Europe I fear you may be right on that..
Last seen in a Ferrari LaFerrari cruising down Budapest high street 
Ed on a jolly..
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stevio
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Post by stevio on Nov 6, 2015 8:22:21 GMT
Correct me if wrong, but I think MT gives interest from day invest. So these not filling is not necessarily a bad thing for investors as I am presuming the money is still with MT rather than the borrower and still earning 12%/year at reduced risk
I am not sure if MT will underwrite the loan or someone else. But that is going to be more expensive for MT, so they are probably leaving it open as long as possible to minimize their costs
We probably haven't heard anything from Ed as
a) The Supercar loans aren't as popular as hoped
b) He's busy with the property loans (bound to be more paperwork than normal pawn of some gold or watches)
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SteveT
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Post by SteveT on Nov 6, 2015 8:29:30 GMT
Correct me if wrong, but I think MT gives interest from day invest. So these not filling is not necessarily a bad thing for investors as I am presuming the money is still with MT rather than the borrower and still earning 12%/year at reduced risk I am not sure if MT will underwrite the loan or someone else. But that is going to be more expensive for MT, so they are probably leaving it open as long as possible to minimize their costs We probably haven't heard anything from Ed as a) The Supercar loans aren't as popular as hoped b) He's busy with the property loans (bound to be more paperwork than normal pawn of some gold or watches) Unless something has changed, MT fund loans upfront from their own capital and then invite their lenders to take on parts of these loans. The 2 supercar loans are still filling progressively (both now over 70%) and these are not the first MT loans to take a week or two to fill. The first property loan (MT30) took a couple of months, IIRR, and the original Piper loan (MT149) certainly took a couple of weeks.
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Post by Deleted on Nov 6, 2015 9:47:42 GMT
I showed some calcs earlier in the thread which I think show the £200k target is about what our bunch of lenders can support as a maximum.
"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?"
Hence the cars have slowed, however if you read the other main portal threads on this forum you will see that FC is unattractive, AC has no new business, SS has a hiccup, FS has just a few props coming through so MT will clear these loans on the "only one game in the park" principle. If he can increase the numbers of players coming to the park then £200k will move up to £250k and start hitting these supercar cash models faster.
I pretty sure Ed is not worried about filling things faster, after all, at least has some live un-filled loans on the books which has to be attractive at the moment.
Roll on December when this desert will really dry out and we can all go to Sharm for the sun....oops.
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ramblin rose
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“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 6, 2015 10:05:13 GMT
I showed some calcs earlier in the thread which I think show the £200k target is about what our bunch of lenders can support as a maximum. "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?" Hence the cars have slowed, however if you read the other main portal threads on this forum you will see that FC is unattractive, AC has no new business, SS has a hiccup, FS has just a few props coming through so MT will clear these loans on the "only one game in the park" principle. If he can increase the numbers of players coming to the park then £200k will move up to £250k and start hitting these supercar cash models faster. I pretty sure Ed is not worried about filling things faster, after all, at least has some live un-filled loans on the books which has to be attractive at the moment. Roll on December when this desert will really dry out and we can all go to Sharm for the sun....oops. I wouldn't be surprised to find the invested amounts from the current pool of lenders increasing once the SM is up and running and when it is, I also wouldn't be surprised to find the lender numbers also increasing more quickly.
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duck
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Post by duck on Nov 6, 2015 11:12:10 GMT
I'm a MT newbie and have so far invested in only 3 loans. My %/loan is therefore not what I would normally like to hold ..... but since my aim is to grow my MT holding I'm content that I will be able to bring that in line as time passes. The secondary market will help in that diversification and as ramblin rose has said that might well attract others. Personally I like active aftermarkets as a fallback but my tendency is to buy what I am happy to hold so in this instance the current lack of an aftermarket is not off putting to me.
I don't know if I'm alone in having a slightly strange cash flow but I only 'pay' myself from my business once a year (mid to end of Nov usually) and since this is nearly all invested I have this and maturing investments (6 figure sum in total) all looking for new homes around this time of the year (not good timing!) ..... so whilst bobo's calcs might well be on the ball there is always a timing issue to be taken into account as well.
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Post by MoneyThing on Nov 6, 2015 11:29:52 GMT
Morning,
Just popping over to this thread now.
1) The supercar report is complete and is now just with the borrower for them to review.
2) Two new supercar loans will be available for preview shortly ready to go live today at 4pm. (Loan amounts of £80,000 & £90,000 at 50% LTV. Email announcement to follow shortly).
3) Secondary Market is progressing well and we are still on track for launch at the end of this month.
4) The first Broadoak Partner deal is nearing ready for drawdown by the borrower. Anticipated launch early next week.
5) Will be shortly announcing a new MoneyThing property bridging loan with the same borrower as the recent Cardiff Student Accommodation loan. Details to follow.
6) I was at at The Finance Professional Show in London on Wednesday and made some good contacts, one of which could be a great fit by way of a new Partner relationship in a new asset class (not property). We are meeting with them next week to explore further.
Kind regards,
Ed
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Post by MoneyThing on Nov 6, 2015 11:40:44 GMT
Correct me if wrong, but I think MT gives interest from day invest. So these not filling is not necessarily a bad thing for investors as I am presuming the money is still with MT rather than the borrower and still earning 12%/year at reduced risk I am not sure if MT will underwrite the loan or someone else. But that is going to be more expensive for MT, so they are probably leaving it open as long as possible to minimize their costs We probably haven't heard anything from Ed as a) The Supercar loans aren't as popular as hoped b) He's busy with the property loans (bound to be more paperwork than normal pawn of some gold or watches) Morning. You are correct that we have already funded these loans and therefore investors earn interest as soon as they commit their funds. Whilst it is nice to have some of our capital earning interest while loans have not reached 100%, I would still prefer that they so sell down so that it releases capital to lend out again. I did take a couple of days off on Monday & Tuesday during school half-term and was then at The Finance Professional Show all day Wednesday hence my being a little quiet on the forum. Other than a few day trips to the mainland, I will be around for the remainder of the year. Kind regards, Ed
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scraggs
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Post by scraggs on Nov 6, 2015 13:07:10 GMT
Ed
Can I ask why has any reference to the borrower on the supercar loans now been removed from both the loan page on the site and the loan agreement ?
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Post by MoneyThing on Nov 6, 2015 13:19:30 GMT
Ed Can I ask why has any reference to the borrower on the supercar loans now been removed from both the loan page on the site and the loan agreement ? Afternoon scraggs. The borrower was comfortable being identified to registered investors at the start, however they requested that we remove their name after a few weeks which I was happy to do. Kind regards, Ed.
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freddy
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Post by freddy on Nov 7, 2015 0:52:18 GMT
I'm new to MT and am considering investment across the Supercar loans. Although investment would provide some risk spread across 4 current available loans that risk is increased due to the loans being held by the same borrower. Unfortunately I missed earlier postings that identified the borrower. Would anyone be able to provide me with a brief summary regarding this borrower (without naming). I.e. What is the mainly being borrowed for? I saw mention somewhere (can't find the post now) that the borrower was featured in a documentary. Any info on this, I'd be interested to view.
Many thanks in advance and Hello to all other MT investors in this forum.
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james
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Post by james on Nov 7, 2015 1:13:25 GMT
I'm new to MT and am considering investment across the Supercar loans. Although investment would provide some risk spread across 4 current available loans that risk is increased due to the loans being held by the same borrower. Unfortunately I missed earlier postings that identified the borrower. Would anyone be able to provide me with a brief summary regarding this borrower (without naming). I.e. What is the mainly being borrowed for? I saw mention somewhere (can't find the post now) that the borrower was featured in a documentary. Any info on this, I'd be interested to view. There haven't been any posts here that identified the borrower and any that came uncomfortably close were edited to be less specific. You might try contacting MoneyThing support by email, perhaps asking for a copy of the borrower's newsletter that they sent out before. If they were to do that it would identify the TV program with sufficient specificity to find it in a search. However, if the borrower doesn't want to be identified MoneyThing may not be able to do that without breaching the confidentiality of the borrower. The borrower at the time of the TV program was doing work towards building a new showroom and while I don't know, I assume that that work as well as the benefit of being able to acquire more stock to fill it are the main reason(s) for the loans. For this type of business they need to actually buy cars for stock outright before they can get them into their showroom. Well, usually, they may sell some on behalf of other owners with no cash up front requirement. Last I knew they were writing about stock worth something like fifteen million Pounds and they have been in the business for a long time. With stock worth that sort of money and a constant need and desire on their part to acquire more to drive more sales, we can hope for quite a substantial set of future loans to help them to grow their business.
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