elliotn
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Post by elliotn on May 5, 2017 14:30:11 GMT
I would be funding this quite well if it were offered at 12%. In every case on MT, I have been unable to invest as much as I would like. Start with say a bidding limit of £40k? You might be surprised. There's quite a lot of money exiting other places at present. What is the correct remaining day to sell on MT? Edit - thought I was quoting 25k limit; 40k's quite chunky, making the sell by date even more important gt.
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GeorgeT
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Post by GeorgeT on May 5, 2017 14:38:27 GMT
I would be funding this quite well if it were offered at 12%. In every case on MT, I have been unable to invest as much as I would like. Start with say a bidding limit of £40k? You might be surprised. There's quite a lot of money exiting other places at present. What is the correct remaining day to sell on MT? Currently - With 3 days to run, unless a formal extension has been agreed and notified, in which case 'rollover'. So far I feel confident enough to hold almost to term end on this platform. There is very little, if any, rubbish on MT and the SM is usually bare. Therefore I think you could sell out with just 1 day to run if desired but I would suggest 3 remaining days to be on the safe side. EDIT - I upped 25k to 40k after thought to try and get it filled quicker for MT. The goal posts on optimum sell out times will shift as the platform grows and this potential loan could impact on that.
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archie
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Post by archie on May 5, 2017 14:39:28 GMT
I would be funding this quite well if it were offered at 12%. In every case on MT, I have been unable to invest as much as I would like. Start with say a bidding limit of £40k? You might be surprised. There's quite a lot of money exiting other places at present. What is the correct remaining day to sell on MT? Edit - thought I was quoting 25k limit; 40k's quite chunky, making the sell by date even more important gt. A lot of people hold until the end.
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Post by GSV3MIaC on May 5, 2017 15:15:52 GMT
Or even longer, if there is bonus interest to be had. 8>.
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oik
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Post by oik on May 5, 2017 17:57:19 GMT
Feedback gratefully received. Many thanks, Ed Just seen this thread. I registered with MT a while back but haven't invested as much as I intended despite being more than impressed by the company. For that reason I've limited knowledge of MT so my opinion of whether a loan of £3.3m could be filled or not probably isn't worth much. I can say though that I really hope it could, because the only reason I haven't invested much has been the very low bid restrictions. Doing a bit of DD then turning up at 4pm knowing I'll often be able to invest just £1k or so for 6 months, all for a max of £60 of interest at the end, just hasn't seemed worth the time involved. My guess is that there could be a lot like me, perhaps including a chunk of that third you mentioned who register then never invest. Bigger deals with reasonable bid limits could be just what's needed to get them lending. I'd add that it's not of prime concern to me whether the rate offered is 12% or a tad less provided I can have confidence in the the proposition and the valuation.
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metoo
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Post by metoo on May 5, 2017 19:44:33 GMT
Feedback gratefully received. Many thanks, Ed I can say though that I really hope it could, because the only reason I haven't invested much has been the very low bid restrictions. It's a balance. I like the bid limit that lets everyone have a bite. I think that is a strong feature of MoneyThing. Turning up to bid and finding it's all gone before I can get any would be a turn off! Diversification across numerous loans is important for me so I don't mind that there are smaller deals where I can only get a smaller sum invested. But if the deal is bigger, then there's plenty more for those that want more. At least if there are some bigger deals in the pipeline then if there are lenders who only like to have big sums invested in a loan, they have something to go at. I'd add that it's not of prime concern to me whether the rate offered is 12% or a tad less provided I can have confidence in the the proposition and the valuation. Confidence in the the proposition and the valuation is everything.
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robski
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Post by robski on May 5, 2017 20:37:02 GMT
I would really push moneything to go with the ISA sooner rather than later. Talk of this loan is one thing, but there is a pipeline of £18.75M as of tonight.
I am not sure how much larger you would want that to be in order to feel ready to open the ISA...?
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littonowl
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Post by littonowl on May 5, 2017 22:07:57 GMT
I would really push moneything to go with the ISA sooner rather than later. Talk of this loan is one thing, but there is a pipeline of £18.75M as of tonight.
I am not sure how much larger you would want that to be in order to feel ready to open the ISA...? Very good point, robski, pipeline does indeed now look very healthy!
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gt94sss2
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Post by gt94sss2 on May 5, 2017 23:51:52 GMT
While I am not opposed to MoneyThing issuing an ISA, I would prefer they took their time in doing so and only launched when ready. Ideally, their solution would be a flexible ISA with no fees (annual or inactivity based), and that Ed and the team feel that they are fully resourced/ready to roll it out. I think a botched or hurried ISA offering may not have all the above features or demand could overwhelm them and that would cause longer term reputational damage to the platform. Of course, in my ISA MT wishlist, I would also like interest paid on uninvested cash While I note the pipeline is very healthy, its possible that a few of these won't make it or be delayed - and I believe the next few months will also have £1m+/per month being repaid to existing investors who will want a new home for their funds (let alone funds from other platforms or new investors which have been mentioned by others)
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metoo
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Post by metoo on May 6, 2017 2:03:00 GMT
Of course, in my ISA MT wishlist, I would also like interest paid on uninvested cash I think you will have to dream about that one. A "Flexible ISA" solves the problem, I think.
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elliotn
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Post by elliotn on May 6, 2017 3:44:34 GMT
While I am not opposed to MoneyThing issuing an ISA, I would prefer they took their time in doing so and only launched when ready. Ideally, their solution would be a flexible ISA with no fees (annual or inactivity based), and that Ed and the team feel that they are fully resourced/ready to roll it out. I think a botched or hurried ISA offering may not have all the above features or demand could overwhelm them and that would cause longer term reputational damage to the platform. Of course, in my ISA MT wishlist, I would also like interest paid on uninvested cash While I note the pipeline is very healthy, its possible that a few of these won't make it or be delayed - and I believe the next few months will also have £1m+/per month being repaid to existing investors who will want a new home for their funds (let alone funds from other platforms or new investors which have been mentioned by others) Agreed, an overflowing pipeline has not stopped the deal flow drying up for most of this year, a drought that would be seriously exacerbated by a flood of MTISA funds. Assuming we do not want corners cut we should sea the dam fill up before the ISA taps are turned on and we drown in a tsunami of Impatient high earners' cash flow.
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robski
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Post by robski on May 6, 2017 6:10:14 GMT
There is going to be an influx the moment it opens anyway, unless MT are seriously late to the party
There are a few easy things to control this :
Limit new accounts initially, either in volume or value or both Maybe for year 1 make it so transfers in aren't allowed, hence limiting demand to £20k per investor
I am struggling to see the transition point, I guess this is my point. MT will struggle to grow past a certain point without this option IMO. Personally and not wishing to cast stones at any individuals but I see the resistance to the MT ISA as a "I want to keep this club to myself and don't want others joining" that's selfish and isn't going to help the platform longer term.
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oik
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Post by oik on May 6, 2017 13:19:55 GMT
It's a balance. I like the bid limit that lets everyone have a bite. I think that is a strong feature of MoneyThing. Turning up to bid and finding it's all gone before I can get any would be a turn off! I agree with that. It's a difficult balance. The impossible ideal for most of us would be to have a limit that always lets "us" easily invest as much as we want but blocks the greedy "others" who want to invest more than us and might snaffle everything before we get a look in. From what I've seen MT seem to judge it quite well given the size of the loans. The point I make though is that for everyone the limits need to be high enough to justify the time required to fully scrutinise the proposition. For me that means a gross return of £60 or less at the end of 6 months doesn't really cut it. Diversification is important but then it probably doesn't benefit anyone if the sums involved are so small that it's not worth taking the time to check what you're investing in. So I'd guess the only way to square that, as you suggest, is if possible to have bigger deals that allow more worthwhile involvement and returns.
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metoo
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Post by metoo on May 6, 2017 14:25:34 GMT
I too would like to see the ISA sooner rather than later. Keeping the popular bid limit system, would people try to bring in ISA transfers larger than they will anticipate being able to get invested?
Initially not offering ISA transfers could be an halfway house to see how if goes, although some would be disappointed. Would ISAs bring a flood of new lenders?
A Flexible ISA would certainly help ease occasions where too much uninvested cash was sitting in accounts, allowing people to temporarily invest elsewhere while waiting for the pipeline.
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Post by GSV3MIaC on May 6, 2017 14:56:49 GMT
The problem with ISA transfers is that they may well be 'all or nothing' (not all ISA providers allow partial Xfers IIRC, and some that do charge a 'per transfer' fee .. e.g. HL want £25 for a cash transfer). Given that an ISA (which contains an ex-PEP, etc) could be £500K by now, you don't need many of them to arrive to swamp that £3m loan! Even £20k-a-pop would chew it up rather fast, so if Ed wants to play £3m loan, he really needs to find a half-dozen or more (decent quality!) all at once.
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