michaelc
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Post by michaelc on Dec 22, 2016 21:20:29 GMT
Why is MT so popular? Admittedly, I've only been with them for 2 or 3 months but what I've found so far (and I could easily be making things more difficult than they need to be) is that there are not many loans. Those that do appear get snapped up within minutes of them going live and I haven't found a way to pre-fund like in some other platforms.
I get the fact that the platform itself comes with a good reputation and has high confidence in the community for resolving defaulted loans.
So maybe its great for those that have been with it for some time and have built up a reasonable stock of loans. I'm finding it difficult.
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Post by Deleted on Dec 22, 2016 21:27:52 GMT
There is no question the 4pm Free For All doesn't work for everyone and it does take a little time to get diversified especially at years end.
I guess a huge part of the reason they are so popular here is the level of communication and apparent openness there is from the platform about their loan portfolio. Also the active management in not allowing loans to simply roll into negative days!
I've been with them for a couple of months and have a reasonably varied portfolio both in property and other areas. Moneything do have many loan arrangements through the same groups though so this is something to be wary off when diversifying!
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jcm9000
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Post by jcm9000 on Dec 22, 2016 23:24:42 GMT
I like em for reasons above. Also been investing a couple of months and have about 100 loan parts across two accounts. Admittedly on days i worked from home i set my browser to refresh every 10 seconds so i could grab what came up...but also a decent enough pipeline of new loans / tranches let me get started. New year is always a bit of a drought seemingly so Jan/feb may bring more activity.
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Post by jackpease on Dec 23, 2016 7:30:48 GMT
I have similar thoughts with people flouncing off other platforms because of poor communication onto MT citing good communication and lack of defaults, which is unsurprising given it is a young platform.
The clarion call for good communication seems to ignore quite an important side effect - ie well intentioned, genuine, friendly and prompt communication instills a huge amount of trust which may skew judgment. I threw five figure sums into FK and Rebs in early days precisely because they communicated well (as MT do) and that led me to give them the benefit of the doubt longer than I should have done as with the best will in the world, both platforms ended up with lots of loans going pop. I've emerged pretty well unscathed with substantial losses just about being covered by the substantial interest.
The converse is true with many forumites leaving/avoiding platforms because of bad communication eg FC and latterly SS - I've sort of decided that if a platform is delivering, then good communication is nice but not essential.
If there is ever a hiccup at MT, my fear is that the large number of linked loans/introducers will create a contagion risk - but for now i'm investing (when I can)
Jack P
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archie
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Post by archie on Dec 23, 2016 7:54:23 GMT
Communications are very good. If you ask a question you are likely to get a comprehensive answer. Loans always repay on time. If you choose not to renew you don't have to wait for the renewal loan to fill. Very liquid (obviously not guaranteed to always be the case). I'm sure selling at par helps here as you can't queue jump. No charges for selling loans. Loan quality to me seems rather better than on some platforms. Good mix of asset types. I'd like more borrowers but only if quality can be maintained. MT popularity has meant it is slightly harder to get invested now as max bid limits have fallen. MT is now my largest platform for investment.
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Post by bracknellboy on Dec 23, 2016 8:46:28 GMT
jackpease : think your post is bang on. Likewise archie . My appetite for investment on MT is constrained by: a) number of linked loans b) immaturity of the platform and therefore no track record in default rates and recoveries I don't want it to expand at the expense of quality. I'd rather have it as a (hopefully) quality niche player in my portfolio. Clearly though that would be at odds with MTs business goals (growth I mean, not deterioration in quality). I quite like the idea that they don't have the float to move from e.g. bridging to development when a borrower's needs scale up, as witnessed with one of the current loans: quite nice to see loans paid out as they get refinanced by another platform and the risk carried over there.... :-)
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michaelc
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Post by michaelc on Dec 24, 2016 13:46:02 GMT
Thanks for all the useful comments.
Interesting in particular for me were the comments about communications being a double-edged sword. I guess as long as you're aware of the perception risk then on balance it is a good thing.
I'll try a bit hard in the New Year to be there when the loans are released.
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archie
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Post by archie on Dec 24, 2016 13:49:43 GMT
Thanks for all the useful comments. Interesting in particular for me were the comments about communications being a double-edged sword. I guess as long as you're aware of the perception risk then on balance it is a good thing. I'll try a bit hard in the New Year to be there when the loans are released. There's one today (Two if you count the renewal).
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michaelc
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Post by michaelc on Dec 24, 2016 13:58:38 GMT
All I see are a few loan parts in the secondary market?
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archie
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Post by archie on Dec 24, 2016 14:00:57 GMT
All I see are a few loan parts in the secondary market? 4pm, see Pending Loans tab.
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michaelc
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Post by michaelc on Dec 24, 2016 14:18:27 GMT
Thanks for that. I just re-checked my emails and the last was on Dec 21 for a loan Dec 22 and nothing in spam box.
Ahh, I've only just noticed there is an "Bidding start" field within the pending loans table. Stupid me for relying only on email notifications from them all this time!
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archie
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Post by archie on Dec 24, 2016 14:24:07 GMT
Thanks for that. I just re-checked my emails and the last was on Dec 21 for a loan Dec 22 and nothing in spam box. Ahh, I've only just noticed there is an "Bidding start" field within the pending loans table. Stupid me for relying only on email notifications from them all this time! There were two emails on Dec 21, one for the loan on 22nd and the other was Art Loans Renewing on 25th. The two loans today were emailed on Dec 20 (two emails).
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SteveT
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Post by SteveT on Dec 24, 2016 14:24:26 GMT
Thanks for that. I just re-checked my emails and the last was on Dec 21 for a loan Dec 22 and nothing in spam box. I received the normal new loan email announcing AE605 on Dec 20th (timed 12.20pm)
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