SteveT
Member of DD Central
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Post by SteveT on Oct 3, 2016 8:49:06 GMT
What arrogance. You just want to waste everyone's time, with everyone doubling up on searches. Now "moderate" this! No-one is forcing you to use this forum. The forum rules exist to protect members (including the volunteer Mod team), platforms and borrowers alike from potentially costly and time-consuming legal headaches. Either accept them (as you confirmed you would when you joined the forum) and take advantage of what the forum affords, or else go somewhere else. Entirely your choice.
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james
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Post by james on Oct 3, 2016 11:44:53 GMT
How are these to be provided? Online at the MoneyThing site? Somewhere else? If one or more lenders do not agree to six monthly stock takes do they stay at quarterly?
"Borrower to supply the Lender on a monthly basis its accounts with the winery – Borrower’s credit from the winery not to exceed 60 days.
Borrower to undertake quarterly stock takes. At the discretion of the Lender after year 1 stock takes to be on a 6 monthly basis. Lender to be entitled to appoint a third party to carry out the stock takes at the expense of the Borrower.
Borrower to supply the Lender immediately after each stock with a software copy of the stock record of the stock position.
Borrower to notify the Lender of any sales orders over £25,000 prior to despatch of such stock from the W***** E***** W***** (*)."
Are there limits on value of purchases for this? It seems like potentially good value if a penny or pound was lent and the person would buy the wine anyway.
"Lenders to <borrower> will be entitled to a discount of 15% on any purchases made through the company’s on-line shop."
The appendix contains on page 2 an assertion that the "Makers" are officially the best at something. Are the makers referred to the borrower, D F W or the W***** E***** W***** which actually makes the product? If it's WEW that is the maker of the best, is the DFW product the best or is it one of the other wines that they make?
The appendix contains this assertion:
"This document is being delivered to a limited number of recipients to whom it is permitted to send this document under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"). "
How do the potential lenders via MoneyThing qualify under the FSMA Order? Among other things the Order contains permissions to market to high net worth individuals or sophisticated investors so I'm wondering if that is the subset who are permitted to receive the communication or whether it is all MoneyThing lenders (who can read the overview page at MoneyThing) or anyone with an internet connection (who can read the appendix).
"Furthermore, reliance on this communication for the purpose of engaging in any investment activity may expose you to a significant risk of losing any or all of the amount invested, or if a certified sophisticated investor, of incurring additional liability."
In what way may those who lend via MoneyThing who are certified sophisticated investors, be exposed to additional liability beyond the amount lent? When and how will any of the companies or others involved seek to demonstrate that an individual is certified and subject to the additional liability? Are there any caps on the additional liability or do I put my whole net worth and remainder of my lifetime's possible earnings on the line if I'm certified and lend? Is a person who is certified only the "certified" category or does the word certified also include the "self-certified" category?
Please confirm that at the time of the preparation of the appendix the balance in the account that has an overdraft facility was either zero or in credit. The appendix contains both an assertion that the borrower has no commercial borrowing other than a vehicle loan but also an entry on page 10 that implies the possibility of £10,000 currently borrowed under an overdraft facility. Is that overdraft facility and any borrowing under it on usual commercial terms or is it some special type of non-commercial borrowing? Or is any borrowing under the overdraft facility referring to borrowing by some party other than the borrowing firm?
*This is not the borrower and it's clear from material elsewhere that the relationship's existence is not confidential. All information in this post is from sources available to anyone without a login.
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Post by ydobon on Oct 3, 2016 15:34:12 GMT
My impression is that a significant proportion of the Champagne market in the UK is sold through special offers in supermarkets particularly at Christmas. This sets a price expectation for the mass market at around £12 per bottle. Presumably this is the target market for the non-vintage D**** F*** W*** but their cheapest offering is about £30. This leaves these non-vintage wines a niche market. "Ooh, this is nice Champagne" "It is English actually" "No, really?" I could be wrong, but I didn't get the impression that mass market is the target for any of these wines at the moment, you don't expect to buy a bottle of decent English sparkling wine for £12 (unfortunately). The cheapest English sparkling wine that I have seen stocked in any quantity was a Lidl offering at £14.99 (I haven't tried it). I picked up a lovely Chapel Down Vintage Reserve Brut for about £18 recently for a wedding anniversary and it was delicious (£5-6 off in Sainsbury's, from memory). I wouldn't consider myself to be particularly mass market, we're willing to spend a bit more for a treat and it feels good to explore English wines (which really are very good quality these days). To wrap up this ramble, £30 for NV anything does seem dear, but there's definitely a market for English sparkling among several groups including the wealthy, curious, 'foodies', people who worry about food miles and anglophiles! I was more than happy to take a small punt.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Oct 3, 2016 15:46:00 GMT
In blind tastings by continental wine experts English champagne-style wines have won prizes - much to the amazement of the experts.
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Steerpike
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Post by Steerpike on Oct 3, 2016 16:06:18 GMT
I may well buy a bottle or two, and would quite have liked 15% orf, however, in my opinion, it will be difficult for this business to grow as predicted and so I'm out.
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Post by bracknellboy on Oct 3, 2016 17:21:35 GMT
well this hasn't flown off the shelves in the way of normal MT loans. Will be interesting to see what happens after the 24 hour embargo. Clearly not to everyone's taste.
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Post by MoneyThing on Oct 3, 2016 17:59:47 GMT
well this hasn't flown off the shelves in the way of normal MT loans. Will be interesting to see what happens after the 24 hour embargo. Clearly not to everyone's taste. To be fair, I think it might be more down to the reduced limits to 0.33% as we have actually seen more more bids placed on these than the recent other loans. 67% filled after 3hrs is about right - the aim is to try and get them to last up to the 24hr mark leaving only a small balance left. Regards, Ed.
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Post by ladywhitenap on Oct 3, 2016 18:27:05 GMT
There has to be a better way to manage the offer of the next wave of this loan.
The website slowed to a crawl taking many minutes just to get £1k placed
LW
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jonah
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Post by jonah on Oct 3, 2016 18:38:28 GMT
Ive got a small glassful of this loan... it isn't much, but a little diversity from buildings and cars etc. I suspect that this is basically a binary bet though, either the brand sells well in which case we are all quids in, or it goes off with a whimper, in which case we all get a hangover.
Ive gone for relatively short term parts, but am now thinking that may have been a mistake, assume the SM is liquid it's easier to leave in a year or two than it will be to buy if this is a success. One to think more on for me.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
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Post by Neil_P2PBlog on Oct 3, 2016 18:46:53 GMT
I really like how MT is being imaginative with these multitranches, and the 1st/2nd charge 10/13% splits!
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gt94sss2
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Post by gt94sss2 on Oct 3, 2016 19:10:38 GMT
well this hasn't flown off the shelves in the way of normal MT loans. Will be interesting to see what happens after the 24 hour embargo. Clearly not to everyone's taste. To be fair, I think it might be more down to the reduced limits to 0.33% as we have actually seen more more bids placed on these than the recent other loans. 67% filled after 3hrs is about right - the aim is to try and get them to last up to the 24hr mark leaving only a small balance left. Regards, Ed. I wonder if you have any data that you would be willing to share about the size of an average loan part or the average investment in larger loans? While I understand the desire to make the loans last 24 hours, with smallish loans, a low limit could mean that some investors decide its worthwhile to participate. Even with these loans at £111 I almost didn't bother - it's debatable whether the £13/year is worth it.. and it would be interesting to see how this limit compares to your average MT investor.
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Post by bracknellboy on Oct 3, 2016 20:10:42 GMT
To be fair, I think it might be more down to the reduced limits to 0.33% as we have actually seen more more bids placed on these than the recent other loans. 67% filled after 3hrs is about right - the aim is to try and get them to last up to the 24hr mark leaving only a small balance left. Regards, Ed. I wonder if you have any data that you would be willing to share about the size of an average loan part or the average investment in larger loans? While I understand the desire to make the loans last 24 hours, with smallish loans, a low limit could mean that some investors decide its worthwhile to participate. Even with these loans at £111 I almost didn't bother - it's debatable whether the £13/year is worth it.. and it would be interesting to see how this limit compares to your average MT investor. thought with 9 (?) loans that's a total of £1k exposure to the borrower. and MoneyThing: agree it may well be down to the lower limit, hence my comment on be interesting to see what happens when the limit is lifted.
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averageguy
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Post by averageguy on Oct 3, 2016 20:14:01 GMT
To be fair, I think it might be more down to the reduced limits to 0.33% as we have actually seen more more bids placed on these than the recent other loans. 67% filled after 3hrs is about right - the aim is to try and get them to last up to the 24hr mark leaving only a small balance left. Regards, Ed. I wonder if you have any data that you would be willing to share about the size of an average loan part or the average investment in larger loans? While I understand the desire to make the loans last 24 hours, with smallish loans, a low limit could mean that some investors decide its worthwhile to participate. Even with these loans at £111 I almost didn't bother - it's debatable whether the £13/year is worth it.. and it would be interesting to see how this limit compares to your average MT investor. But then its £111 over a fair number of loans giving a lot more than £13 per year..which kind of makes it worth it..even allowing for loan repayments Edit I seem to have been beaten too it
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ben
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Post by ben on Oct 3, 2016 20:15:38 GMT
£1,000 for all loans is £120 a year, jsut to one borrorower so for diversity I would have though for all except the really big hitters would be worth it (if you wanted to invest in the loan).
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archie
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Post by archie on Oct 4, 2016 6:41:26 GMT
I invested in all tranches even though I don't really like long loans. It was the only way to get a reasonable investment size.
I would have preferred shorter terms that renewed but that might put a strain on the MT float on each renewal.
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