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Post by martin44 on Jul 16, 2020 6:29:54 GMT
No update now for 3 months..." Nothing further to add" would be better than nothing.
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Post by waryinvestor on Jul 16, 2020 17:27:19 GMT
Where do they specify MT Fees ? The only update that is on the website is :
The full and final offers for the property were submitted and the best offer that was accepted by the Administrator was £787,500. After some delay, the sale was completed on Friday. After the costs of the sale, fees and administration the net proceeds to lenders are £513,113.
So, the Total Fees / Charges are £274,387. How much is actual Legal Fees/Disbursements, how much is 3rd Party Administrator Fee and how much is MoneyThing Fee (Additional). Any ideas ?
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withnell
Member of DD Central
Posts: 550
Likes: 491
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Post by withnell on Jul 16, 2020 18:12:15 GMT
Where do they specify MT Fees ? The only update that is on the website is :
The full and final offers for the property were submitted and the best offer that was accepted by the Administrator was £787,500. After some delay, the sale was completed on Friday. After the costs of the sale, fees and administration the net proceeds to lenders are £513,113.
So, the Total Fees / Charges are £274,387. How much is actual Legal Fees/Disbursements, how much is 3rd Party Administrator Fee and how much is MoneyThing Fee (Additional). Any ideas ?
It's on the update at the time: www.moneything.com/p2p/index.php/support/update/id/3524
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Post by waryinvestor on Jul 28, 2020 11:19:00 GMT
Where do they specify MT Fees ? The only update that is on the website is :
The full and final offers for the property were submitted and the best offer that was accepted by the Administrator was £787,500. After some delay, the sale was completed on Friday. After the costs of the sale, fees and administration the net proceeds to lenders are £513,113.
So, the Total Fees / Charges are £274,387. How much is actual Legal Fees/Disbursements, how much is 3rd Party Administrator Fee and how much is MoneyThing Fee (Additional). Any ideas ?
It's on the update at the time: www.moneything.com/p2p/index.php/support/update/id/3524But there is No Breakdown of any Fees/Disbursements/Charges - just that £513,113 were received ?
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rocky1
Member of DD Central
Posts: 1,119
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Post by rocky1 on Jul 28, 2020 11:42:58 GMT
it seems MT are now clawing in all sorts of fees from these loans that they were so quick to bring to the platform.now charging roughly the same as administrators for monitoring the administrators.nice work if you can get it.honesty and transparency that's what p2p is all about.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,845
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Post by ilmoro on Jul 28, 2020 11:44:37 GMT
But there is No Breakdown of any Fees/Disbursements/Charges - just that £513,113 were received ? Need to look at the EOS pdf at the bottom of the update
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Post by waryinvestor on Jul 28, 2020 14:55:06 GMT
it seems MT are now clawing in all sorts of fees from these loans that they were so quick to bring to the platform.now charging roughly the same as administrators for monitoring the administrators.nice work if you can get it.honesty and transparency that's what p2p is all about. Thanks Ilmoro for the pointer.
So, they have charged <redacted> as Pre-Appointment Monitoring Fees. Note that this is on top of their regular earnings from each Loan. Then they have charged <redacted> again as costs,charges,expenses & liabilities. Note that this is on top of all their Legal Fees & Disbursements -
MT Legal Fee (<redacted>) + Glaisyers Legal Fees (<redacted>), Admin Fees (<redacted>), etc.
So, MT Fees are <redacted> out of Total Costs of <redacted>, which is a whopping 50.56%. This becomes 56.77% if you add MT Legal Fees.
If you consider the total recovered amount of <redacted>, then just the MT Fees (apart from their own Legal Fees and other Disbursements) is <redacted> out of <redacted> = 17.62%. With their own Legal Fees this becomes 19.78 %.
Just unbelieveable. FS Admins are cheaper and professional.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,845
Likes: 11,072
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Post by ilmoro on Jul 29, 2020 11:30:50 GMT
For the record, proceedings were filed against a relevant party week before last.
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Post by queenvictoria on Jul 29, 2020 14:49:33 GMT
For the record, proceedings were filed against a relevant party week before last. lmoro, could you expand on this in DD?
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Post by martin44 on Aug 21, 2020 18:22:18 GMT
it seems MT are now clawing in all sorts of fees from these loans that they were so quick to bring to the platform.now charging roughly the same as administrators for monitoring the administrators.nice work if you can get it.honesty and transparency that's what p2p is all about. Thanks Ilmoro for the pointer.
So, they have charged <redacted> as Pre-Appointment Monitoring Fees. Note that this is on top of their regular earnings from each Loan. Then they have charged <redacted> again as costs,charges,expenses & liabilities. Note that this is on top of all their Legal Fees & Disbursements -
MT Legal Fee (<redacted>) + Glaisyers Legal Fees (<redacted>), Admin Fees (<redacted>), etc.
So, MT Fees are <redacted> out of Total Costs of <redacted>, which is a whopping 50.56%. This becomes 56.77% if you add MT Legal Fees.
If you consider the total recovered amount of <redacted>, then just the MT Fees (apart from their own Legal Fees and other Disbursements) is <redacted> out of <redacted> = 17.62%. With their own Legal Fees this becomes 19.78 %.
Just unbelieveable. FS Admins are cheaper and professional.
There's no reason why Mr Ed shouldn't get his teeth into some tasty free money... Just horsing around.
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Nomad
Member of DD Central
Posts: 727
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Post by Nomad on Aug 23, 2020 7:15:18 GMT
Thanks Ilmoro for the pointer.
So, they have charged <redacted> as Pre-Appointment Monitoring Fees. Note that this is on top of their regular earnings from each Loan. Then they have charged <redacted> again as costs,charges,expenses & liabilities. Note that this is on top of all their Legal Fees & Disbursements -
MT Legal Fee (<redacted>) + Glaisyers Legal Fees (<redacted>), Admin Fees (<redacted>), etc.
So, MT Fees are <redacted> out of Total Costs of <redacted>, which is a whopping 50.56%. This becomes 56.77% if you add MT Legal Fees.
If you consider the total recovered amount of <redacted>, then just the MT Fees (apart from their own Legal Fees and other Disbursements) is <redacted> out of <redacted> = 17.62%. With their own Legal Fees this becomes 19.78 %.
Just unbelieveable. FS Admins are cheaper and professional.
There's no reason why Mr Ed shouldn't get his teeth into some tasty free money... Just horsing around. youtu.be/6GAbc5uQXJo
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rocky1
Member of DD Central
Posts: 1,119
Likes: 1,940
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Post by rocky1 on Nov 12, 2020 17:30:20 GMT
anything happening on this complete farce of a loan MT? i suppose there is no rush as your interest /default interest/fees etc are building up quite nicely.how platforms can claim all this interest on what is lenders money in the first place is beyond me.huge capital losses for lenders,huge gains for platforms for basic mismanagement and incompetance when dishing out our money. or maybe these things were known a long time ago.
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tommytaylor
P2P - The new wild west
Posts: 234
Likes: 375
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Post by tommytaylor on Nov 13, 2020 12:40:57 GMT
Just a bunch of con men the lot of em. They will get there just desserts
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on Dec 22, 2020 10:37:39 GMT
Any one nearby to be able to see if anything is happening on this site?
SXLR
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stokeloans
Member of DD Central
Posts: 400
Likes: 484
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Post by stokeloans on Jan 27, 2021 14:18:21 GMT
Demolition begins on 1st february
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