elliotn
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Post by elliotn on Feb 28, 2018 17:12:22 GMT
Thanks to anyone who sold Wine/CSP this morning. I bought some pawn but re-solld when I saw the redemption date, thanks for buying!
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elliotn
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Post by elliotn on Feb 28, 2018 17:10:28 GMT
the ripple effect from another platform has led to investors to empty their trunks... MT started selling after the MTAS announcements, I squeezed in another 2% of pot before the C calamity.
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elliotn
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Post by elliotn on Feb 28, 2018 16:06:30 GMT
Assuming they acquired for £175,000, does that mean they have spent c.£300k refurbishing it already? And are there any shots of said refurbishment? All the ones I see are CGI images, and the download only shows the bar area. It seems a good site for a hotel but seeing as there are similar hotels that are well reviewed in the vicinity priced at £30 a night are the profit margins going to be there? BP mentioned 434k of refurb. It's being run as a pub, the flat above is on 999 leasehold.
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elliotn
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Post by elliotn on Feb 28, 2018 8:02:44 GMT
MoneyThing , when loans are defaulted in future, please could you e-mail investors to inform them of this? I only found out that this loan was to be defaulted last night from reading this forum. I do think as a matter of common courtesy investors should be e-mailed when a loan they have invested in is defaulted. As well, as Brainer mentioned, what happens to the remaining 6 weeks or so of interest on account, please? Will it be distributed as an initial payment to investors, so reducing the outstanding balance accruing interest? Hi westcountry, Apologies, you are quite right we should have emailed lenders to inform them of the defaults and we will make sure this is done in future. We will send out a late email today in case anyone has missed it. We don't pay interest on defaulted loans and at present the pre-paid interest is being held on account. We have not been in the situation previously where a loan has defaulted, but there is interest remaining on account and I am taking advice on this point. As interest is now accruing at a different rate, there are not sufficient funds to pay interest due up to the original intended date in any case. Depending on the advice, it is likely that we will hold the interest and pay out once the recovery is complete. Kind regards Sophie Birkenhead was placed in administration and our interest was still paid out. Hopefully, your legal advice would see no problem simply accruing the penalty element from default until term end and then the full amount whilst paying us our own funds back. Seemed to work with Birkenhead and Coll’s defaulted cars.
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elliotn
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Post by elliotn on Feb 28, 2018 6:46:08 GMT
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elliotn
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Post by elliotn on Feb 28, 2018 1:40:35 GMT
why has this gotten so illiquid now? almost 35k on sale. Do you know why this now has instant liquidity? Only 8%, never reported a profit. May be the new loan will empty the pot again .
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elliotn
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Post by elliotn on Feb 27, 2018 15:31:25 GMT
Offline Website, etc.
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elliotn
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Post by elliotn on Feb 27, 2018 10:34:16 GMT
Hi @filipkaradaghi, is there a known problem with Ex**** C***e, it’s just sitting on SM teasing me
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elliotn
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Post by elliotn on Feb 27, 2018 3:02:50 GMT
820k loan, 730k purchase, 112% LtPP.
"Please note that the site is being acquired for £730,000. The borrower was able to act quickly to secure a substantial discount from the site's true value."
This borrower had a skill at buying below property's true market value, his special contacts allowed the 1st student loan to be bought for c400k which MT loaned against its true value of c1.2M (iirc).
Whilst I never cared much for this borrower (who had previously stalled on Bolly and cost Ed a lot of chocolate on Ply1), I did allow myself some retained interest on the long dated Ply2* alloyed to robust platform backing of MTAS.
*More fool me.
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elliotn
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Post by elliotn on Feb 27, 2018 2:36:27 GMT
This is one of a series of polls set up to cover the events of 2017. To be honest, I'm finding it difficult not to let the events of the first 8 weeks of 2018 colour my decision making. MT have been runaway poll winners for the last couple of years and, tbf, the 2017 twitter stats do look pretty great (and Juli's trustpilot).
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elliotn
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Post by elliotn on Feb 27, 2018 2:29:21 GMT
Latest update: "This loan will be put into default overnight tonight on the platform. Please bear with us overnight tonight while we carry out this process. Lenders may notice some unusual activity on their account which lenders should ignore. This is simply part of the technical process and it will be completely resolved once the transfer process has been completed Edit: Similar news for all the Boll loans. Difficult times ahead for MT but at least no attempt to cover up as some other platforms might have done. OUCH - caught out by MoneyThing again, Birkenhead remained fully tradeable whilst interest was still retained and being paid out to investors whilst LstA was not as it was being serviced by the borrower (except we were never told that it wasn't being).
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elliotn
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Post by elliotn on Feb 27, 2018 2:08:57 GMT
Thanks Filip, look forward to that; will there be any kind of reasonable short term limits to spread the joy, I've often missed out on LLI and had to send all funds straight back. @filipkaradaghi , thank you for the new funding notification. Per above, will there be any safeguards to prevent automated/BH investors taking this loan up? Or, as with your last two micro loans, will it not be worth my while logging in?
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elliotn
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Post by elliotn on Feb 26, 2018 10:37:12 GMT
Would it be possible to sort each heading within the 4 Filters of My Loans, thanks.
Site v responsive again today, thank you.
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elliotn
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Post by elliotn on Feb 26, 2018 9:37:52 GMT
Given the urgency to fill this loan it would have been helpful to have made the valuation report available to download for investors to read through this weekend. Heres hoping it appears at some point.... Yep, & an effort to process weekend deposits nice n early.
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elliotn
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Post by elliotn on Feb 26, 2018 9:28:41 GMT
MoneyThing, with 56 of the flats now having been sold, do the purchasers of the flats rank ahead of the investors in this loan, should it default, please? This wasn't (and still isn't) clear with the default of BPF808 & 809 Res Dev in B*********, so clarity with how it affects this Liverpool loan would be very much appreciated. UN1s registered after our 1C will rank behind us.
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