ben
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MoneyThing (MT) in Administration
Unhappy
Nov 5, 2017 13:51:29 GMT
michaelc likes this
Post by ben on Nov 5, 2017 13:51:29 GMT
i think depending which defaulted loans you are in. i would not be that worried if its prestbury or lyntham. they seem very likely to get all repaid with capital. birkenhead wise...... i think would be lucky to get all the capital back. IMHO... think in Birkenhead tranche a will be ok , would be surprised if tranche B gets more then half repaid.
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ben
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Lendy (L) in Administration
autoinvest?
Nov 3, 2017 15:53:44 GMT
Post by ben on Nov 3, 2017 15:53:44 GMT
I wonder how this same survey would have gone down if pitched by MT. I think there's probably a market for the product but sentiment on how the platform regards lenders would make or break it. Compare MT's general update on Wednesday with for example Lendy's weekly update on 11th Aug with the 'New available loans process.' Treating investors like mugs does not inspire the confidence for a black box investment. there is a big market for the product, plenty of similar examples it is just the trust that will be a big issue, the majority of lendy borrowers are not exactly upstanding business people.
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ben
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Lendy (L) in Administration
autoinvest?
Nov 3, 2017 15:31:51 GMT
Post by ben on Nov 3, 2017 15:31:51 GMT
Finally stopped laughing, still not really sure who it is aimed at, as if it is to be a lower risk then there are far better options and if it is the same high risk surely people who do not want to do any dd would just be better investing manual and diversifying across all the loans, which is basically all they will be doing but for lower potential returns.
Trusting Lendy to be around in a few years is probably not very likely as currently with the way they are using the provision fund they are basically a pyramid scheme.
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ben
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Post by ben on Oct 31, 2017 17:15:24 GMT
Hi all, Further to your suggestions, I thought I would let everyone know in advance that we will be adding a new deal tomorrow. It will be an "A-rated" loan on a 9 month term offering 6.5% pa gross. Loan-to-value will be 35.42%. We will also be sending out an email shortly so if you have any questions, please let me know. Kind regards, Danny How much for and any limit restrictions this time?
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ben
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Post by ben on Oct 30, 2017 17:36:19 GMT
Hi all, The 3% cashback offer is only applicable to investments into Auto-Invest or ISA. Our latest deal was fully funded in less than half an hour which is much quicker than we expected, although granted it was only a £42,000 deal. We do have some more deals coming soon, with potentially another one being added tomorrow. However, nothing has been confirmed so I will keep you all updated once I have been given more information. shimself - Thank you for the suggestion. That sounds like a good idea and is definitely something that I will be mentioning to our directors. Perhaps this is something we can put in place for our smaller deals. Kind regards, Danny Even if it is only for a few hours just to give people enough time to transfer funds across as well.
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ben
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Post by ben on Oct 30, 2017 8:22:19 GMT
Except for the bling this is my favorite loan on collateral, just wondering where I will be following it too next.
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ben
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Post by ben on Oct 26, 2017 19:20:06 GMT
Looks like I am going to have to raid the sofa again.
On another note any new loans coming for the manual investment account?
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ben
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Post by ben on Oct 26, 2017 14:57:42 GMT
All in all I am sufficiently confident I will be able to sell on the SM down the line so am happy to invest. Why not just go and place the money on red? at least you will find out straight away the result of your gamble.
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ben
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Post by ben on Oct 25, 2017 23:31:47 GMT
That one is fully funded and looks like a new one up sometime next month. Looks like student accommodation is a good investment for PP if nothing else.
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ben
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Lendy (L) in Administration
Weekly BS
Oct 23, 2017 10:52:39 GMT
Post by ben on Oct 23, 2017 10:52:39 GMT
I'm looking forward to Lendy following "best practice" in everything else they do, not just communications. Lets go for baby steps 2nd or 3rd best practice will be a good start.
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ben
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Post by ben on Oct 22, 2017 18:05:57 GMT
No. I value simplicity and don't want the arrival of the flippers that plagued Funding Circle. Discounts would not attract the flippers as much, but it would allow people that needed to sell for what ever reason to sell. A 6 month loan after 4 months does not have the same value as it did on the day it was issued.
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ben
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Post by ben on Oct 22, 2017 10:03:13 GMT
So basically you are hoping a bigger idiot comes along to take the junk of you that you did not even want in the first place, and yet people complain that some borrowers are a bit dodgy. Erm.. No ben not idiot's , there are investors that will see this as a good investment, and when spectra wants to offload , the buyers will buy it, if and only if they see it as good buy. Otherwise he will be stuck with it. He has assessed it as junk as he does not want it and is not willing to hold it, bit like me trying to sell my car once I know its falling to bits, hoping that someone either desperate or does not know what they are doing comes along to buy it. He already knows it is not a good investment. When you look at the Lendy part of the forum it is full of people complaining that the secondary market is not instant like it used to be. People that buy more with the intention of selling it later are not investing they are gambling and trying to play the market some people do very well and like gambling plenty of people do not.
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ben
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Post by ben on Oct 21, 2017 21:33:30 GMT
Before any smart a*se says “you invested £3k in an arcane MT loan this week let me make it clear that the £3k is “parked” there awaiting better opportunities elsewhere and will be out of said loan before the end of this month. Caveat Emptor. So basically you are hoping a bigger idiot comes along to take the junk of you that you did not even want in the first place, and yet people complain that some borrowers are a bit dodgy.
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ben
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Post by ben on Oct 21, 2017 13:38:41 GMT
Can't understand why anyone would not want to be able to read the update for the whole loan book, makes my week reading some of the jokes of there.
Also wonder if the two that voted yes would be willing to admit to it and state why they did not want it.
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ben
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Post by ben on Oct 21, 2017 12:38:23 GMT
I Think people have learnt that you are not going to get a gold plated loan paying us 12% and paying god knows what to the platform with some actual risk. I invest in most of the platforms on here and most have some pretty good loans (even Lendy and FS) but they also have some shockers. I do not think the risk has changed since I started investing in any of them, but then I only invested in loans I was happy to hold to term (basically loans where the borrower actually has something to lose). With the exception of one of two that has basically been fraud this has worked well for me, but I fully expect to have loses. I also invest far more in the lower risk sites then I do in the higher risk sites. As with all asset class balance and diversify will help.
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