ding
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Post by ding on Mar 4, 2018 12:18:50 GMT
Similarly people were buying Holiday Park 1, over the smaller loan 2 with cashback. We need these type of people
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jlend
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Post by jlend on Mar 7, 2018 15:40:02 GMT
Was there a deadline set for filling this tranche? Or are they normally open ended?
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archie
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Post by archie on Mar 7, 2018 15:52:17 GMT
Was there a deadline set for filling this tranche? Or are they normally open ended? No deadline set yet.
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Post by MoneyThing on Mar 8, 2018 10:19:39 GMT
Morning. Deadline set for 10am on Monday (see update on platform). Regards, Ed.
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Post by oktaeder on Mar 8, 2018 11:01:25 GMT
Sorry @mt most of my money is stuck on loans that don't repay on time. Defaulted loans. Or extended and extended again loans. So even if I like the borrower no way to invest in 2nd stage. Money in MT isn't liquide these days so to bring in more? Sorry, no.
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jlend
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Post by jlend on Mar 8, 2018 11:01:26 GMT
Morning. Deadline set for 10am on Monday (see update on platform). Regards, Ed. I do wonder if the challenge will get even harder for filling later tranches of this loan, even if this tranche fills which it may do given it is nearly there. It does make me wonder what is the best for the borrower generally.
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Post by Badly Drawn Stickman on Mar 8, 2018 11:33:46 GMT
Morning. Deadline set for 10am on Monday (see update on platform). Regards, Ed. I do wonder if the challenge will get even harder for filling later tranches of this loan, even if this tranche fills which it may do given it is nearly there. It does make me wonder what is the best for the borrower generally. Arguably there is a general loss of appetite for development loans on all platforms at the moment (for good reasons given there are many outstanding). Your point should be considered by Moneything, there is a serious danger of merely delaying the inevitable. I do feel it is unfortunate for this loan, in truth refinancing in the current market would be an unenviable task, Lenders however should protect their own interests first.
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jlend
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Post by jlend on Mar 8, 2018 11:40:18 GMT
I do wonder if the challenge will get even harder for filling later tranches of this loan, even if this tranche fills which it may do given it is nearly there. It does make me wonder what is the best for the borrower generally. Arguably there is a general loss of appetite for development loans on all platforms at the moment (for good reasons given there are many outstanding). Your point should be considered by Moneything, there is a serious danger of merely delaying the inevitable. I do feel it is unfortunate for this loan, in truth refinancing in the current market would be an unenviable task, Lenders however should protect their own interests first. Agree. I do wonder if the borrower would be better sourcing finance away from p2p at the moment.
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ali
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Post by ali on Mar 8, 2018 11:42:06 GMT
Arguably there is a general loss of appetite for development loans on all platforms at the moment (for good reasons given there are many outstanding). Your point should be considered by Moneything, there is a serious danger of merely delaying the inevitable. I do feel it is unfortunate for this loan, in truth refinancing in the current market would be an unenviable task, Lenders however should protect their own interests first. That's certainly true. It's pretty clear that there's also a lack of funds available this tax year and that things will ease up somewhat after Apr 6th. Whether that will be enough to cover the remainder of this development is unknown. Personally, I invested in the first tranche to the level I was comfortable with and the cash back on offer for this loan hasn't been enough to tempt me to exceed that (it has on some other loans).
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oldgrumpy
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Post by oldgrumpy on Mar 8, 2018 12:23:57 GMT
I'm hoping Ed is well aware (and will be striving to remedy) that a lot of lenders' cash is now locked into defaulted loans (35·7% of my money is unavailable for reinvestment).
Does he really think we are going to keep putting new money through the platform on risky development loans while this situation continues?
Probably not. I wonder if he will back off such loans (as Col announced before their misdemeanour came to light) and leave them to the big boys.
Nottingham £16M? Yeah, right!!!
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Post by spareapennyor2 on Mar 8, 2018 12:34:39 GMT
i can do worse 56.85% default
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oldgrumpy
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Post by oldgrumpy on Mar 8, 2018 12:41:42 GMT
i can do worse 56.85% default
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SteveT
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Post by SteveT on Mar 8, 2018 12:50:25 GMT
With just £74k left, I'd hope this one manages to fill by Monday (I've done my bit!). MoneyThing Ed, any chance of some pictures and/or a bit more detail about the progress of the development? All we have so far is " Our monitoring surveyor and valuer have confirmed that works have begun in earnest on site and c£390,000 has been expended to date by the client"
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elliotn
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Post by elliotn on Mar 8, 2018 12:51:23 GMT
On the upside, MT is about to become my top platform again and my default % has plummeted as a result; from a recent high of nearly 20% to a now far more manageable c13%. #inedwetrust
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Post by retired2005 on Mar 8, 2018 13:06:32 GMT
Hi MoneyThing Ed..... Your interaction with this forum has always been good and I would be interested in a straight 'reply' to oldgrumpys post - 6 above this one ... I have 100% of my cash in p2p now tied up in defaulted loans ( because when several defaulted in quick succession on this platform and others, I lost faith and sold out of everything else.....) It is obvious from the state of the SM on Moneything and on other platforms that investor money is drying up and we need some defaulted loans to repay - even if not 100% - before confidence will return. I would love to invest again but fear that some of these defaults may not pay back for years .... as is the case for some already on another platform. Is there anything you can say to convince us any recoveries are forthcoming apart from the usual 'we're doing our best ....' BTW I have a particular interest in B********D - unfortunately, tranche 2
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