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Post by MoneyThing on Nov 8, 2016 16:15:58 GMT
Think maybe a bid limit should've been put on this as I expect there will be some unhappy bunnies. Better get that 2nd tranche ready Ed - MoneyThing . 2nd tranche about to be announced, going live tomorrow at 4pm.
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jcb208
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Post by jcb208 on Nov 8, 2016 16:23:06 GMT
Think maybe a bid limit should've been put on this as I expect there will be some unhappy bunnies. Better get that 2nd tranche ready Ed - MoneyThing . 2nd tranche about to be announced, going live tomorrow at 4pm. Yep just got in from work transferred the money from else where last night and all the first tranche gone quite frustrating for us who are not able to be at a computer at 4.00pm ,hope to get some of the 2nd tranche
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Post by bracknellboy on Nov 8, 2016 16:38:07 GMT
I'm a bit surprised at how fast that went (though maybe I shouldn't be on past experience of MT loans). I didn't feel terribly positive about it but others obviously feel completely differently.
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Post by jackpease on Nov 8, 2016 16:56:38 GMT
Lot of people flouncing out of RS and SS at the moment and MT is the platform of the moment.....
Jack P
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Post by lolly88 on Nov 8, 2016 17:40:44 GMT
Lot of people flouncing out of RS and SS at the moment and MT is the platform of the moment..... Jack P IMHO MoneyThing (Ed) has identified weaknesses with SS (particularly) and also with RS and is rightly reaching out towards disaffected lenders belonging these Portals. Could anyone suggest what these weaknesses might be, one weakness for each of these Portals? SS: Complacency. RS: No Knowledge of this Portal. Best regards. Agreed. The excellent communication and strong and regular MT presence on this forum has made me feel comfortable about investing more of my funds in this platform.
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Post by Deleted on Nov 8, 2016 17:47:41 GMT
Is there any advantage whatsoever to spreading my investment in one loan over the various tranches or am I just as well off with it all remaining in tranche 1 ??
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boundah
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Post by boundah on Nov 8, 2016 17:57:45 GMT
Is there any advantage whatsoever to spreading my investment in one loan over the various tranches or am I just as well off with it all remaining in tranche 1 ?? As far as I know all tranches are pari passu although once tranche 4 has gone the whole lot move to first claim en masse. Someone else may correct me...
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pom
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Post by pom on Nov 8, 2016 17:57:55 GMT
Is there any advantage whatsoever to spreading my investment in one loan over the various tranches or am I just as well off with it all remaining in tranche 1 ?? If you want to sell some later it's possible there might be a slight difference in popularity of the tranches...but that's about the only reason I can think of to spread it around
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am
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Post by am on Nov 8, 2016 18:25:11 GMT
I'm a bit surprised at how fast that went (though maybe I shouldn't be on past experience of MT loans). I didn't feel terribly positive about it but others obviously feel completely differently. I was mostly leaving it for a further tranche so I could think about it (and see if any interesting DD was presented); I logged in at 18:18 to stick the little unreinvested interest in, and found it all gone. I see from comments here that it went much faster than that.
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stevio
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Post by stevio on Nov 8, 2016 18:59:03 GMT
Hi MoneyThing how can you be sure that the additional funds in this loan won't be used to pay back the other Prestbury residential loan? Morning. The first three advances are transacting directly with the 1st charge lenders solicitors to refinance their loan (as set out in the loan agreement and Deed of Priority). Regards, Ed So the forth tranche could be used to pay off the residential loan?
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Post by MoneyThing on Nov 8, 2016 19:10:28 GMT
Morning. The first three advances are transacting directly with the 1st charge lenders solicitors to refinance their loan (as set out in the loan agreement and Deed of Priority). Regards, Ed So the forth tranche could be used to pay off the residential loan? Having seen the loan correspondence with the bank regarding the BTL mortgage on the residential refinance, I am confident that the 4th tranche is not being used for the residential loan. Besides, the residential loan 'should' be repaid well before the 4th tranche on the Hotel loan. Regards, Ed.
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keystone
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Post by keystone on Nov 8, 2016 19:42:30 GMT
So the forth tranche could be used to pay off the residential loan? Having seen the loan correspondence with the bank regarding the BTL mortgage on the residential refinance, I am confident that the 4th tranche is not being used for the residential loan. Besides, the residential loan 'should' be repaid well before the 4th tranche on the Hotel loan. Regards, Ed. Wasn't it intended to be repaid today?
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amphoria
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Post by amphoria on Nov 8, 2016 21:01:32 GMT
Is there any advantage whatsoever to spreading my investment in one loan over the various tranches or am I just as well off with it all remaining in tranche 1 ?? As far as I know all tranches are pari passu although once tranche 4 has gone the whole lot move to first claim en masse. Someone else may correct me... MoneyThing please can you comment on this. I initially read it that only the 4th advance would have 1st charge status (presumably at a lower interest rate) and that the first 3 advances would remain at 2nd charge status. However, the words are ambiguous enough that it could be read either way.
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Post by MoneyThing on Nov 8, 2016 21:07:31 GMT
As far as I know all tranches are pari passu although once tranche 4 has gone the whole lot move to first claim en masse. Someone else may correct me... MoneyThing please can you comment on this. I initially read it that only the 4th advance would have 1st charge status (presumably at a lower interest rate) and that the first 3 advances would remain at 2nd charge status. However, the words are ambiguous enough that it could be read either way. Evening. Upon completion of the 4th tranche, all tranches will become a 1st charge ranking equally. All four tranches will be at 13%. Regards, Ed.
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nick
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Post by nick on Nov 10, 2016 9:57:28 GMT
Is there any advantage whatsoever to spreading my investment in one loan over the various tranches or am I just as well off with it all remaining in tranche 1 ?? Whilst all tranches are parri passu, if you are looking to put making further investment in this issue it will be lower risk investing in the final tranch as all the tranches will then benefit from the first charge at this point and the all loan parts become tradeable on the SM.
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