mikes1531
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Post by mikes1531 on Jul 24, 2014 20:18:43 GMT
Does anyone know what happened to the four loans that were offered on Money&Co at the time easteregg started the blog? Were they completely funded? If so, what interest rate are the lenders getting?
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mikes1531
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Post by mikes1531 on Jul 24, 2014 20:41:12 GMT
Apologies for the above.
I should have read some of the later P2PMoney blogs -- which provide answers -- before asking my questions.
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Post by mrclondon on Jul 24, 2014 21:07:04 GMT
Did anyone accept the invite to one of the "Breakfast with Nicola" briefings on Money&Co in central London ? The dates I was offered were yesterday or next Wednesday, but I'm rapidly coming to the conclusion that unsecured loans are not for me, so didn't respond.
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Post by jackpease on Jul 25, 2014 7:16:11 GMT
I didn't get an invite but then i've only got a tenner left in there! I put in five £10 bids as my 'toe in the water' but four of them were rejected as (istr) the loans didn't get funded leaving me with a tenner, i looked to see what else there was, nadda, so i withdrew the £40.
I do feel for these guys - there's clearly talent and enthusiasm in these start up platforms and other more mature but struggling-to-grow platforms - together they could form a critical mass but separately i just can't see how they get enough lenders in unless they offer high rates in which case why borrow off them!
If i was Horlick with her reputation and background then i'd be looking to grow by acquisition - there must be platforms out there that have given it a year or two and can see they will never join the big boys. Time to sell up - their established loan books would give minnows like Money & Co instant appeal
Jack P
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kermie
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Post by kermie on Jul 25, 2014 22:44:57 GMT
easteregg's Money&Co blog entry is very interesting. I can't see how their business model will work. On the one hand, they claim to target "prime" borrowers that could otherwise get a loan from their bank. To compete in that space, it implies Money&Co will offer very low loan rates (best buy personal loans are at 3.9% today). At that level, lenders are not going to make much of a return, once fees and tax are considered. Doesn't add up to me. I am also very surprised at their projected default/loss rates. They look optimistic to me ("prime" or not).
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bigfoot12
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Post by bigfoot12 on Feb 11, 2015 9:58:55 GMT
Is anyone able to update their experiences with Money & Co. It seems to have been a bit quiet with PR, compared to the first few months.
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Post by westonkevRS on Feb 27, 2015 7:20:07 GMT
Money & Co are quite active on Twitter, which seems to usually have a picture of Nicola presenting to business types about how wonderful P2B is.
Yesterday they had a stand at an "Informed Funding" conference that was coincidentely held in the same building as the RateSetter offices. We also had a stand and participated in some debates (there was even a Tory MP there, making some extra money.....). Alas Nicola wasn't there, she had left the grunts to do the real work and (I suppose) is only wheeled out for publicity shots as required.
Kevin.
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mv
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Post by mv on Apr 19, 2015 18:53:20 GMT
Recently Money&co have been trying to sell shares under the EIS. Deadline has been extended and minimum investment lowered to £10,000(!).
They appear to still be making significant losses and the IT system they are using costs £0.75 million/year to run.
I have a very small investment in their loans. Currently the main appeal that I can see is that when you bid you can only see the mean average bid and a handful of recent bids. Therefore there is a chance that you can put in a last minute punt at outlandishly high rates and you may get accepted. I saw one person had their small bid at 100% APR over 5 years accepted.
Does anyone here have any experience of investing in P2P/B companies themselves i.e shares?
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Post by westonkevRS on Apr 20, 2015 21:18:23 GMT
I saw one person had their small bid at 100% APR over 5 years accepted. That could be a P2P record return if that goes the full 5-years... My basic maths is telling for every £1 invested at 100% AER they'll walk away with £32 ignoring fees, etc. How much was their small investment? It also indicates that the bidding cannot be optimal if lenders can get a bid accepted at this rate.
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bugs4me
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Post by bugs4me on Apr 20, 2015 21:35:19 GMT
Recently Money&co have been trying to sell shares under the EIS. Deadline has been extended and minimum investment lowered to £10,000(!). They appear to still be making significant losses and the IT system they are using costs £0.75 million/year to run. I have a very small investment in their loans. Currently the main appeal that I can see is that when you bid you can only see the mean average bid and a handful of recent bids. Therefore there is a chance that you can put in a last minute punt at outlandishly high rates and you may get accepted. I saw one person had their small bid at 100% APR over 5 years accepted. Does anyone here have any experience of investing in P2P/B companies themselves i.e shares? Maybe wrong company but I recall they were talking about a 5 year exit strategy (for the founders) before they even launched.
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mv
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Post by mv on Apr 20, 2015 22:02:09 GMT
I saw one person had their small bid at 100% APR over 5 years accepted. That could be a P2P record return if that goes the full 5-years... My basic maths is telling for every £1 invested at 100% AER they'll walk away with £32 ignoring fees, etc. How much was their small investment? It also indicates that the bidding cannot be optimal if lenders can get a bid accepted at this rate. I just double checked. It was £1000 accepted at 100% for a 36 month term for S* D***** c********n. A C+ risk band unsecured loan.
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mikes1531
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Post by mikes1531 on Apr 20, 2015 23:17:54 GMT
My basic maths is telling for every £1 invested at 100% AER they'll walk away with £32 ignoring fees, etc. westonkevRS: Compounding like you've assumed only works if you can reinvest the repayments received at the same AER. If it's a repayment loan and the proceeds are reinvested at more normal rates, that investor would end up with maybe £3 for each £1 invested. Not as spectacular as £32, but still a nice return.
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Post by westonkevRS on Apr 21, 2015 5:38:41 GMT
My basic maths is telling for every £1 invested at 100% AER they'll walk away with £32 ignoring fees, etc. westonkevRS: Compounding like you've assumed only works if you can reinvest the repayments received at the same AER. If it's a repayment loan and the proceeds are reinvested at more normal rates, that investor would end up with maybe £3 for each £1 invested. Not as spectacular as £32, but still a nice return. Right you are, just as well I'm not in charge of lender returns. You'd all be getting a lot more cash back then you're meant to! My brain freeze happened (I think) because I'm so used to reinvesting dividends and P2P returns, the power of compounding! @ westonkevRSP.S. Where are they selling shares in Money&Co, I couldn't find it. Be interesting to know what they've valued themselves at.
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Post by norfolkblue on Apr 29, 2015 8:19:09 GMT
Shouldn't this outfit have it's own forum here?
I can't see this one going away anytime soon
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Post by uncletone on Apr 29, 2015 11:36:32 GMT
I live to serve...
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