|
|
Post by wickedxuk on Dec 26, 2016 8:51:50 GMT
Have many from this forum dipped a toe into TMP yet?
I'm tempted as a high risk small portion of my p2p pot. Especially at this time of year I would assume a lot of loans will be taken out over the next few weeks.
I'm interested to see how investors are getting on after the first few weeks?
|
|
hendragon
Member of DD Central
Posts: 631 
Likes: 619
|
Post by hendragon on Dec 26, 2016 11:09:44 GMT
I was intending a more full update in February. The summary for me so far is 3 loans invested...one of which has repaid a little early. I have had funds ready to lend at minimum rates, but it has taken quite a long time to get them lent out. I am hoping that post Christmas demand and TMP working to find new borrowers will improve this. As for the rest of it.the site is a little limited but it works and TMP respond to questions quite well.hope this helps (been lending since mid-November)
|
|
stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
|
Post by stub8535 on Dec 26, 2016 11:41:13 GMT
www.lenders4u.co.uk/the-money-platform-review-www-themoneyplatform-com/ This gives info about the platform against other operators in this area of finance. I am discouraged from investing presently as the minimum loan is £250. To diversify enough would take too great a proportion of my risky lending pot. As their has been a failed attempt before by a p2p site that failed I am going to wait and see. Good luck to the early adopters and those with spare capacity. I wish the site well in order to disrupt the sharks for those borrowers with good credit.
|
|
michaelc
Member of DD Central
Posts: 4,844
Likes: 2,758
|
Post by michaelc on Dec 26, 2016 18:14:28 GMT
I had two loans (one £500) lent out within days of joining the platform. I've since had no new loans during the past 4 weeks despite always having plenty of offers in place.
Perhaps more interestingly, both of those loans were due to repay today at "0:00" which I take to mean the start of the day. I'm guessing the site hasn't been updated due to, I'm also guessing, it being a manual step and on boxing day we're obviously not in working hours. Either that or I've just thrown £750 down the drain.
|
|
|
|
Post by wickedxuk on Dec 26, 2016 18:22:18 GMT
I had two loans (one £500) lent out within days of joining the platform. I've since had no new loans during the past 4 weeks despite always having plenty of offers in place. Perhaps more interestingly, both of those loans were due to repay today at "0:00" which I take to mean the start of the day. I'm guessing the site hasn't been updated due to, I'm also guessing, it being a manual step and on boxing day we're obviously not in working hours. Either that or I've just thrown £750 down the drain. keep us updated michaelc I'm sure you're correct in thinking it's due to business hours...
|
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Dec 27, 2016 17:04:17 GMT
My loan page states that the proposed repayment date is only updated once funds have been transferred. It also adds that if this outside normal banking hours it will be updated on the next business day. Hopefully it will be a case of funds repaid on the 28th and updated on the 29th. As a new lender I too am interested in how this works out and would hope you can update the forum on this. My own repayment was timed at 10.42am on a working day.
|
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Dec 27, 2016 17:11:16 GMT
I have also had a quick look at the offers page. It appears at first sight that the "live loans in the market" section (I am unsure if this is loans made or waiting to be made) indicate some 25 £250 loans (mainly 12 weeks) 2 £500 loans and 6 £1000 loans.
|
|
david42
Member of DD Central
Posts: 419
Likes: 346
|
Post by david42 on Dec 27, 2016 20:37:01 GMT
I have also had a quick look at the offers page. It appears at first sight that the "live loans in the market" section (I am unsure if this is loans made or waiting to be made) indicate some 25 £250 loans (mainly 12 weeks) 2 £500 loans and 6 £1000 loans. After some initial confusion I have concluded that "live loans in the market" must be a count of the loans that have already been made, because the count increases after a loan has been assigned to me.
|
|
michaelc
Member of DD Central
Posts: 4,844
Likes: 2,758
|
Post by michaelc on Dec 28, 2016 21:30:02 GMT
I had two loans (one £500) lent out within days of joining the platform. I've since had no new loans during the past 4 weeks despite always having plenty of offers in place. Perhaps more interestingly, both of those loans were due to repay today at "0:00" which I take to mean the start of the day. I'm guessing the site hasn't been updated due to, I'm also guessing, it being a manual step and on boxing day we're obviously not in working hours. Either that or I've just thrown £750 down the drain. keep us updated michaelc I'm sure you're correct in thinking it's due to business hours... Pleased to report both were repaid. They being due on the double bank holiday this week didn't help but were repaid on the first working day afterwards.
|
|
|
|
Post by wickedxuk on Dec 28, 2016 21:36:17 GMT
keep us updated michaelc I'm sure you're correct in thinking it's due to business hours... Pleased to report both were repaid. They being due on the double bank holiday this week didn't help but were repaid on the first working day afterwards. Happy days. A good start then 🖒👏
|
|
|
|
Post by The Money Platform on Jan 24, 2017 17:28:54 GMT
Just to clear up any potential misunderstanding over our system:
'Loans in the market' represents outstanding loans at the specific rate, length and principal amount. E.g. 5 Loans at 0.4% daily interest for 4 weeks.
'Offers in the market' represents the active lender offers in the market at the specific rate, length and principal amount. E.g. 11 lender offers at 0.4% daily interest for 4 weeks.
How lender offers work is explained under the offer grid and in our FAQs. But to help clarify for those not yet registered with us, I have put below a few key features:
- Lenders make loan offers which can be automatically taken up by successful borrowers
- Lenders offers are taken up in order of a) lowest interest rate offered and b) length of time the offer has been in the queue
- This means that successful borrowers get the lowest interest rate for the loan they apply for
- The lender offer is deleted by clicking the 'X' next to the offer on the 'My Offers' page
- Otherwise lenders offers are active and can be taken up by successful borrowers
- If a lenders wallet is depleted (e.g. through lending funds in their wallet out) then the lender offer is deactivated until their wallet is topped up (e.g. through a repayment). Once topped up the lender offer is reactivated can be taken up again by successful borrowers.
- Active lender offers (e.g. £250, 4 weeks, 0.4%) can therefore we taken up multiple times if there is enough funds in the lender's wallet
I can see there have been some other questions about borrower flow: We are continuing to make adjustments to our systems to make user experience better for both lenders and borrowers. We have also expanded our team to manage our future growth plans and offer new product opportunities. Once we are comfortable with our systems we will be seeking to expand our marketing efforts and increase borrower flow - in the meantime I am sure you will appreciate that we are keen to grow slowly and ensure our product is the best it could be.
|
|
|
|
Post by petebutt43 on Jan 30, 2017 2:40:48 GMT
Tried but they are not accepting non-EU residents
|
|
