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Post by MoneyThing on May 9, 2017 12:09:08 GMT
A response on this specific loan and the more general request for regular loan updates would be very welcome MoneyThing When I asked about regular loan updates on another thread fairly recently I had no response from MT but was directed by another forum users to a post by Ed on April 7th p2pindependentforum.com/post/181127 as follows: "Acknowledged. I appreciate lenders have been left a little wanting on this front and will remedy this soon. I am hopeful to be able to announce a new appointment very shortly who will be assisting us on this front (amongst other things). Kind regards, Ed. " Since we're a month down the line it would be much appreciated to have an update on the proposed updates! Even if the situation is that said 'we haven't made the appointment and/or still haven't got the resources to do this for the next few months'... Though obviously I and others would be hoping for a more positive response than that it would help either way to clarify our expectations. Afternoon. Just a quick note to say that we have just recruited a new Thing (Seb), who started with us yesterday. I am currently with him in London going through our loan book and bringing him up to speed. This will take a little while, however once up to speed we will be looking to provide regular updates on our loans in due course. Will also formally introduce Seb to our lenders this week. Kind regards, Ed.
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archie
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Post by archie on May 9, 2017 12:16:59 GMT
Afternoon. Just a quick note to say that we have just recruited a new Thing (Seb), who started with us yesterday. I am currently with him in London going through our loan book and bringing him up to speed. This will take a little while, however once up to speed we will be looking to provide regular updates on our loans in due course. Will also formally introduce Seb to our lenders this week. Kind regards, Ed. Tie Seb to a long contract before introducing him to us or he might do a runner.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 9, 2017 12:48:50 GMT
Afternoon. Just a quick note to say that we have just recruited a new Thing (Seb), who started with us yesterday. I am currently with him in London going through our loan book and bringing him up to speed. This will take a little while, however once up to speed we will be looking to provide regular updates on our loans in due course. Will also formally introduce Seb to our lenders this week. Kind regards, Ed. Tie Seb to a long contract before introducing him to us or he might do a runner. 'Going through the loan book' is probably code for him being at a secret P2P black site undergoing conditioning by former Spec Ops types so he can resist interogation by the denizens of this place without turning into a gibbing wreck in a corner and making chicken noises. (You didnt think those were actual chickens)
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adrianc
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Post by adrianc on May 9, 2017 12:55:30 GMT
Tie Seb to a long contract before introducing him to us or he might do a runner. 'Going through the loan book' is probably code for him being at a secret P2P black site undergoing conditioning by former Spec Ops types so he can resist interogation by the denizens of this place without turning into a gibbing wreck in a corner and making chicken noises. (You didnt think those were actual chickens) Hazing...
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on May 9, 2017 13:13:09 GMT
Afternoon. Just a quick note to say that we have just recruited a new Thing (Seb), who started with us yesterday. I am currently with him in London going through our loan book and bringing him up to speed. This will take a little while, however once up to speed we will be looking to provide regular updates on our loans in due course. Will also formally introduce Seb to our lenders this week. Kind regards, Ed. Whilst I think MT is unusual in that most of your lenders are users of this forum IMO it is important that any relevant information is put on the web site. Might require some coding changes but necessary.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 9, 2017 13:44:20 GMT
Afternoon. Just a quick note to say that we have just recruited a new Thing (Seb), who started with us yesterday. I am currently with him in London going through our loan book and bringing him up to speed. This will take a little while, however once up to speed we will be looking to provide regular updates on our loans in due course. Will also formally introduce Seb to our lenders this week. Kind regards, Ed. Whilst I think MT is unusual in that most of your lenders are users of this forum IMO it is important that any relevant information is put on the web site. Might require some coding changes but necessary. I think events might have precipated the requirement for an update MoneyThing this has appeared on another platform so is it being refinanced away from MT?
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elliotn
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Post by elliotn on May 9, 2017 13:55:17 GMT
Whilst I think MT is unusual in that most of your lenders are users of this forum IMO it is important that any relevant information is put on the web site. Might require some coding changes but necessary. I think events might have precipated the requirement for an update MoneyThing this has appeared on another platform so is it being refinanced away from MT? Nice to see that the cellars have been back-filled.
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fogey
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Post by fogey on May 9, 2017 14:06:07 GMT
This will take a little while, however once up to speed we will be looking to provide regular updates on our loans in due course. Will also formally introduce Seb to our lenders this week. Kind regards, Ed. Whilst I think MT is unusual in that most of your lenders are users of this forum IMO it is important that any relevant information is put on the web site. Might require some coding changes but necessary. I don't really see what all the fuss is about here ... there is a nice glossy brochure and sales are going well, so everything that really matters is already out there
The completion date isn't really important as everything may take a little while and updates will be provided in due course. People should learn to relax and take a more laid back position ... and realise that getting up to speed will take a little while too .. but will happen in due course of course. Isn't life wonderful here on MT
Edit: Just got some more cash from Warrington too ... that didn't take long either
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fogey
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Post by fogey on May 9, 2017 14:47:36 GMT
Just takes a little while to find out what is happening
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fp
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Post by fp on May 9, 2017 15:13:34 GMT
I don't know, maybe Mt feel they wont be able to fill the loan when it moves on to development, it will be interesting to see if COL can raise more money for one loan than their current loan book is worth as a whole.
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romy
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Post by romy on May 9, 2017 15:37:21 GMT
The MT limit was said to be 60% LTV (or 62.5) whereas Coll have gone for 69% plus of course, valuation ~0.8 million higher for Coll in the year and a bit since MT last valued...
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Post by mrclondon on May 9, 2017 15:42:18 GMT
I don't know, maybe Mt feel they wont be able to fill the loan when it moves on to development, it will be interesting to see if COL can raise more money for one loan than their current loan book is worth as a whole. Well it has prompted me to register for COL for the first time, and I will be contributing a four figure sum towards this loan.
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Investor
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Post by Investor on May 9, 2017 15:57:43 GMT
I don't know, maybe Mt feel they wont be able to fill the loan when it moves on to development, it will be interesting to see if COL can raise more money for one loan than their current loan book is worth as a whole. Well it has prompted me to register for COL for the first time, and I will be contributing a four figure sum towards this loan. Would not surprise me if many others who hold this loan on MT follow your logic and COL will see quite a strong new customer uptake over the next day or so. Frankly if it was good enough to hold (I have a four figure sum in it) on MT then relative little has changed in the risk following the migration to COL. Still think that as this single loan will form a significant percentage of the total loan book, they may find this one challenging.
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star dust
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Post by star dust on May 9, 2017 16:12:43 GMT
Well being on both platforms I sold my holding on MT (which was actually less than I remembered), topped it up and invested it on Collateral. All credit to both platform's very ultra speedy withdrawals and deposits, and thanks to MT’s razar sharp SM.
Talk about pass the parcel with investor loan parts looks like platforms are playing pass the borrower or the borrower's are playing pass the platform.
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littleoldlady
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Post by littleoldlady on May 9, 2017 16:18:20 GMT
The MT limit was said to be 60% LTV (or 62.5) whereas Coll have gone for 69% plus of course, valuation ~0.8 million higher for Coll in the year and a bit since MT last valued... The difference in the valuation is that C have included the capitalised value of future ground rents. Provided the project runs to conclusion on budget everything should be OK but in the event of a default during construction obtaining the loan value in a fire sale could be problematic. Edit: Apparently this is not correct according to metoo see below
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