|
Post by MoneyThing on Jul 19, 2016 8:28:37 GMT
Both milestones (£20m funded and £2m interest paid) now achieved. Congrats! I would just like to highlight that the £2m labelled 'Total interest' represents the total paid/credited to lenders (c. £575,000), plus the expected interest on the current loan book on the assumption that they all go to term. Regards, Ed.
|
|
|
Post by MoneyThing on Jul 19, 2016 8:22:08 GMT
Both milestones (£20m funded and £2m interest paid) now achieved. Congrats! £20m within 18 months of launch & £10m within the last 4 months. Well chuffed! Thank you all very much!!! Ed
|
|
|
Post by MoneyThing on Jul 18, 2016 19:36:58 GMT
I think whomever's pound takes us over the £20m mark deserves a choccy bar!
|
|
|
Post by MoneyThing on Jul 15, 2016 16:22:37 GMT
Captain we seem to have a problem.... I canee break the laws of physics.... Insert other cliche here.... i suspect you swapped one number with another. As I check for a number, but not which, it seems to have passed my minimal data validation but generated a spike. I guess I get to have some fun trying to work out how to remove that data point tomorrow I like spiral suggestion and have been thinking how to do it. I have almost done another platform so may have a push on tomorrow and see what can be done. MoneyThing / Ed... If you wanted to tweak... Could I request that you put a 'total upcoming' or similar showing the pending total on that page? I could reduce the total available by that number to provide a more accurate 'what you can invest in now' number with slightly less caveats? Morning jonah, Just to let you know that we will be adjusting the figures later on today to incorporate the 'pending funding' amount which is deducted from the 'available funding' amount. See image below. We will be uploading this to live this afternoon but wanted to give you some advance notice. Kind regards, Ed ...now updated. Regards, Ed.
|
|
|
Post by MoneyThing on Jul 15, 2016 12:19:10 GMT
Afternoon, Just a heads up that MTAF394 (£90,000 against a Mercedes SLS Roadster), is likely to end within the next few days. The borrower has taken a deposit for this car and the purchaser will look to complete the purchase later on this week. Kind regards, Ed UPDATE: Loan MTAF394 (as mentioned above), has now been repaid and lenders have been credited their capital & interest. Thank you to all who participated in this loan. New £133,000 supercar loan (1999 Lamborghini Diablo VT), going live at 4pm on Monday.
|
|
|
Post by MoneyThing on Jul 15, 2016 12:15:40 GMT
Afternoon,
New £133,000 supercar loan uploaded to pending to go live on Monday at 4pm (£750 initial 24hr bid limit).
(Please note that part of this new loan is being used to refinance out existing loan MTAF394, as this car has just been sold. Lenders in MTAF394 will be repaid shortly.)
Kind regards,
Ed
|
|
|
Post by MoneyThing on Jul 15, 2016 7:52:02 GMT
jonah - we have just reordered the figures again so that the 'available' figure is listed first (as before), so hopefully this should fix it. Captain we seem to have a problem.... I canee break the laws of physics.... Insert other cliche here.... i suspect you swapped one number with another. As I check for a number, but not which, it seems to have passed my minimal data validation but generated a spike. I guess I get to have some fun trying to work out how to remove that data point tomorrow I like spiral suggestion and have been thinking how to do it. I have almost done another platform so may have a push on tomorrow and see what can be done. MoneyThing / Ed... If you wanted to tweak... Could I request that you put a 'total upcoming' or similar showing the pending total on that page? I could reduce the total available by that number to provide a more accurate 'what you can invest in now' number with slightly less caveats? Morning jonah, Just to let you know that we will be adjusting the figures later on today to incorporate the 'pending funding' amount which is deducted from the 'available funding' amount. See image below. We will be uploading this to live this afternoon but wanted to give you some advance notice. Kind regards, Ed
|
|
|
Post by MoneyThing on Jul 13, 2016 18:47:48 GMT
Evening,
Pipeline updated (at the top of the thread).
Just wanted to mention that I am in the Manchester area tomorrow with some free time late in the afternoon if anyone would like to meet. If so please PM/email me.
Kind regards,
Ed
|
|
|
Post by MoneyThing on Jul 12, 2016 13:36:09 GMT
The 4.5% MT figure is not the total of loans listed for sale on the SM. It includes both existing new loans yet to fill completely (about £300k) and also pending loans not yet launched (£251k). The true SM figure would be about 0.45% currently (ie. £60k out of about £13m) I hadn't ever intended to separate out primary loans and true secondary market, as for MT and SS they are almost one and the same (MT you can't sell on the SM until all primary units are bought). 'Tis true though, the numbers for MT are tweaked a little based on the pending figure. If only there was a way around that.... Hint taken.... watch this space...
|
|
|
MoneyThing (MT) in Administration
MTAC322
Jul 12, 2016 12:17:25 GMT
Post by MoneyThing on Jul 12, 2016 12:17:25 GMT
Acknowledged. These cars have been off the market for loan term to be used as security for the existing facility. In the meantime, the company has used these as demo cars to sell a number of similar models and also used as company staff cars. As soon as the new facility is in place, these cars will be put back on the market as trade stock to sell. Kind regards, Ed.
MoneyThing - Ed, do you update (reduce) the vehicle values shown, to reflect them being 6 months older and in a more used state than when the load was first arranged? If not, where do you estimate the current LTV%?
Thanks in advance.
To be fair, we should have adjusted the LTV's by approx. 5% higher on average over the 6 month term. (Average of the 6 cars being 2013 models and therefore into their 3rd year of depreciation at approx. 10% from 2nd year (therefore halved to 5% for 6 month duration). Regards, Ed.
|
|
|
Post by MoneyThing on Jul 12, 2016 10:37:38 GMT
MoneyThing - I (and I'm many others) would have a preference that when the rollover to the consolidated CS loans happens our funds get spread fairly evenly between the new tranches, so the algorithm would be something like , add up parts held on current jewellery/watches GALs, divide by six and apply to each of the six new jewellery/watches loans. Similarly for the electronics.
Is this something you were planning anyway ? If not, is it feasible ?
I have to admit, that I hadn't considered the equal distribution of rolled over funds spread across the new loans (which makes complete sense). Let me discuss with The Shuang and revert back... Regards, Ed. Morning, We have established a way of distributing the rolled over funds equally into the new loans (two pots). Will provide an update on the pipeline tomorrow, however we are now looking to undertake the rollover now on the 22nd (rather than the 15th previously indicated). Regards, Ed
|
|
|
MoneyThing (MT) in Administration
MTAC322
Jul 12, 2016 10:31:35 GMT
paulg likes this
Post by MoneyThing on Jul 12, 2016 10:31:35 GMT
MoneyThing Ed, I know nothing about the second-hand car market but it seems odd to me that neither this car nor any of the other five cars MTAC469-MTAC473 have sold in 6 months. Any reassuring comments? Acknowledged. These cars have been off the market for loan term to be used as security for the existing facility. In the meantime, the company has used these as demo cars to sell a number of similar models and also used as company staff cars. As soon as the new facility is in place, these cars will be put back on the market as trade stock to sell. Kind regards, Ed.
|
|
|
MoneyThing (MT) in Administration
MTAC322
Jul 11, 2016 16:05:59 GMT
Post by MoneyThing on Jul 11, 2016 16:05:59 GMT
If you already have a holding in this loan can you still bid for an additional £100 tomorrow if anyone does not roll over ? Yes you can. Regards, Ed.
|
|
|
MoneyThing (MT) in Administration
MTAC322
Jul 11, 2016 15:16:51 GMT
archie likes this
Post by MoneyThing on Jul 11, 2016 15:16:51 GMT
It's not listed on pending. Apologies - just looking into this now... Back up now. Regards, Ed.
|
|
|
MoneyThing (MT) in Administration
MTAC322
Jul 11, 2016 14:55:23 GMT
Post by MoneyThing on Jul 11, 2016 14:55:23 GMT
It is and it is listed on pending (for 1 month term whilst we finalise the new facility). The final loan & security agreements with respect to the mentioned new facility has gone to the borrowers' solicitors for final review so not long now. Regards, Ed It's not listed on pending. Apologies - just looking into this now...
|
|