averageguy
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Post by averageguy on Oct 8, 2019 17:08:58 GMT
My own estimate is that lenders in the first TC and Moneything loans may only receive about 4p in the pound from the sale of the property (a 96% loss). It is possible that they will even receive nothing from the sale of the property (as happened with the next door title) where the administrator and then liquidator spent in excess of £42,000 trying to "clean" the "dirty" title without success and after 5 years trying eventually disclaimed the property. Both MT and TC are well aware of the true position but have not informed lenders. 78 can you confirm something for me please as you say " Moneything loans may only receive about 4p in the pound". Two questions: - Are you suggesting that this MT loan (FPAA664) may only receive 4p in the pound? - Is your statement " Moneything loans" implying more MT loans may fall into the 4p in the pound recovery category? Also, I'm curious - As this loan is still trading on the MT secondary market, if things are really this dire as you outline i just don't understand why people aren't selling loan parts at a much greater discount than they currently are. I'm just trying to make sure i'm crystal clear in my mind on what you are suggesting here. Any further clarification greatly appreciated. All of that and on what basis
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upperdeane
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Post by upperdeane on Oct 8, 2019 17:47:50 GMT
78 can you confirm something for me please as you say " Moneything loans may only receive about 4p in the pound". Two questions: - Are you suggesting that this MT loan (FPAA664) may only receive 4p in the pound? - Is your statement " Moneything loans" implying more MT loans may fall into the 4p in the pound recovery category? Also, I'm curious - As this loan is still trading on the MT secondary market, if things are really this dire as you outline i just don't understand why people aren't selling loan parts at a much greater discount than they currently are. I'm just trying to make sure i'm crystal clear in my mind on what you are suggesting here. Any further clarification greatly appreciated. All of that and on what basis Averageguy. Is your question to me or 78? I'm merely asking 78 for some clarification to his concerns.
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averageguy
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Post by averageguy on Oct 8, 2019 19:41:37 GMT
All of that and on what basis Averageguy. Is your question to me or 78? I'm merely asking 78 for some clarification to his concerns. To 78...all of what you said and basically on what info he’s come to those conclusions
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amwinv
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Post by amwinv on Oct 9, 2019 22:37:04 GMT
Hmmmm.... Anyone else thinking this was just a massive "provoking the sheep" situation? Drop some bad predictions, watch the herd panic.... and get some nice, tasty, heavily-discounted chunks.
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Post by mrclondon on Oct 9, 2019 23:04:54 GMT
Hmmmm.... Anyone else thinking this was just a massive "provoking the sheep" situation? Drop some bad predictions, watch the herd panic.... and get some nice, tasty, heavily-discounted chunks. No, you're way off the mark there. Those painting a negative picture on this one genuinely believe in their negativity.
I have no idea why it has remained tradable on MT, it was suspended on TC well over a year ago (although to be fair I think MT has received more interest than TC)
I gave up trying to understand the astoundingly complex background long ago, those with (funded) accounts on TC have access to more detailed analysis on the TC .net forum. (i.e. I can offer no view on the loan itself, my comment relates soley to the extent to which those who have reached negative conclusions after extensive analysis genuinely believe them)
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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 Oct 9, 2019 23:26:15 GMT
Well as they have enough posts to join DDCent hopefully the OP will provide some supporting evidence there.
upperdeane I think you have misread the post ... loans plural refers to the two loans to the borrower on the first charge security, one on TC & one on MT which the OP estimates a 4% return on (0% on second charge TC loan).
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upperdeane
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Post by upperdeane on Oct 10, 2019 8:15:25 GMT
Well as they have enough posts to join DDCent hopefully the OP will provide some supporting evidence there.
upperdeane I think you have misread the post ... loans plural refers to the two loans to the borrower on the first charge security, one on TC & one on MT which the OP estimates a 4% return on (0% on second charge TC loan). Thanks ilmoro. I did think that 78 may have meant just the TC and MT loans but just wanted to check he was actually just referring to this single MT loan. I've been doing research and enquiries myself since 78's post and I'm actually not too concerned at this stage personally. However, 78 can possibly provide further details to substantiate his view. Let's see how the current situation with prospective buyers pans out and take it from there.
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amwinv
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Post by amwinv on Oct 10, 2019 10:15:54 GMT
Hmmmm.... Anyone else thinking this was just a massive "provoking the sheep" situation? Drop some bad predictions, watch the herd panic.... and get some nice, tasty, heavily-discounted chunks. No, you're way off the mark there. Those painting a negative picture on this one genuinely believe in their negativity.
I have no idea why it has remained tradable on MT, it was suspended on TC well over a year ago (although to be fair I think MT has received more interest than TC)
I gave up trying to understand the astoundingly complex background long ago, those with (funded) accounts on TC have access to more detailed analysis on the TC .net forum. (i.e. I can offer no view on the loan itself, my comment relates soley to the extent to which those who have reached negative conclusions after extensive analysis genuinely believe them)
I appreciate that, but anyone with knowledge from some other private forum, that comes here to drop unsubtantiated claims of 96% losses, and no further replies, IS by definition solely panicking the investors. I haven't invested in this loan in a long time since (i think your good self) and several others pointed out all the TC issues. All seemed way too redflag to me. But for the sake of others here who have invested, I hope 78 is wrong.
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upperdeane
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Post by upperdeane on Oct 10, 2019 12:43:15 GMT
No, you're way off the mark there. Those painting a negative picture on this one genuinely believe in their negativity.
I have no idea why it has remained tradable on MT, it was suspended on TC well over a year ago (although to be fair I think MT has received more interest than TC)
I gave up trying to understand the astoundingly complex background long ago, those with (funded) accounts on TC have access to more detailed analysis on the TC .net forum. (i.e. I can offer no view on the loan itself, my comment relates soley to the extent to which those who have reached negative conclusions after extensive analysis genuinely believe them)
I appreciate that, but anyone with knowledge from some other private forum, that comes here to drop unsubtantiated claims of 96% losses, and no further replies, IS by definition solely panicking the investors. I haven't invested in this loan in a long time since (i think your good self) and several others pointed out all the TC issues. All seemed way too redflag to me. But for the sake of others here who have invested, I hope 78 is wrong. I believe that MT would have suspended this loan by now if they suspected something that serious was wrong with the title and saleability of that title.
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Post by eascogo on Oct 11, 2019 15:46:12 GMT
I appreciate that, but anyone with knowledge from some other private forum, that comes here to drop unsubtantiated claims of 96% losses, and no further replies, IS by definition solely panicking the investors. I haven't invested in this loan in a long time since (i think your good self) and several others pointed out all the TC issues. All seemed way too redflag to me. But for the sake of others here who have invested, I hope 78 is wrong. I believe that MT would have suspended this loan by now if they suspected something that serious was wrong with the title and saleability of that title. I applied the same reasoning as upperdeane, trusting MT to be in control. I am not selling but with 5 digits in this loan the pain would be acute should it tank. Obviously there is some sense of panic with >12k available at the moment at discounts of 90% to 95%. 78 talking of a possible 96 to 100% loss is beyond credible. I also think that it would be hard for the platform to absorb the reputational damage caused by a loss of such magnitude.
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upperdeane
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Post by upperdeane on Oct 11, 2019 18:10:46 GMT
Update on MT platform (nothing to report)
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sarahcount
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Post by sarahcount on Oct 11, 2019 20:10:54 GMT
Update on MT platform (nothing to report) Thanks. The 'nothing to report' part of your post is very helpful. Saves me rushing to the site. For someone no longer in this loan I've managed today to buy at 88% and sell at 90% But this is far from normal or healthy. I've made a few quid but at some risk. someone on this site a long time ago compared this to picking up pennies in front of a steamroller.
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johni
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Post by johni on Oct 11, 2019 20:40:49 GMT
Update on MT platform (nothing to report) Thanks. The 'nothing to report' part of your post is very helpful. Saves me rushing to the site. For someone no longer in this loan I've managed today to buy at 88% and sell at 90% But this is far from normal or healthy. I've made a few quid but at some risk. someone on this site a long time ago compared this to picking up pennies in front of a steamroller. Think you are refering to the other Bradford loan
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sarahcount
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Post by sarahcount on Oct 11, 2019 20:55:57 GMT
Thanks. The 'nothing to report' part of your post is very helpful. Saves me rushing to the site. For someone no longer in this loan I've managed today to buy at 88% and sell at 90% But this is far from normal or healthy. I've made a few quid but at some risk. someone on this site a long time ago compared this to picking up pennies in front of a steamroller. Think you are refering to the other Bradford loan No. it's this one. Trading at 91% at the moment. I'm out of this loan again and what I really want is MT to bring forward some new loans to save me having to move my ISA funds off the platform.
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Post by mrclondon on Oct 11, 2019 20:56:16 GMT
Thanks. The 'nothing to report' part of your post is very helpful. Saves me rushing to the site. For someone no longer in this loan I've managed today to buy at 88% and sell at 90% But this is far from normal or healthy. I've made a few quid but at some risk. someone on this site a long time ago compared this to picking up pennies in front of a steamroller. Think you are refering to the other Bradford loan With the other Bradford loan the trade was buy at 90% and sell at 97.5% (or keep until it redeems, of which there is a good chance it will be in the next week or so). I think that was someones careless error mistaking the loan part when listing this loan at a discount.
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