registerme
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Post by registerme on Jan 17, 2018 15:24:26 GMT
Great post jjc. For various reasons I'm negative about Scotland, pubs, and property but that was a well constructed argument and has given me reasons to think again about this loan. Thank you.
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rocky1
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Post by rocky1 on Jan 17, 2018 15:59:07 GMT
i agree excellent post maybe p2p platforms might be able to come up with this sort of background work any time soon.
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Post by Deleted on Jan 17, 2018 16:28:17 GMT
I agree great post and was more or less the view of the company that I came to when I initially invested in the AC loan. I suspect that borrowing from P2P needs the FD to develop a special sort of mind set, keep it simple, ensure there is good cash flow, there is an attractive fall back asset and that all of the Director's dodgy secrets are out in the open.
With my knowledge of Glasgow I liked the AC loan, good position, good strategy, good name and I was prepared to put up with the debt overhang. But this MT loan feels more complicated with some pretty poor assets that need unloading. I don't think lenders want to have to do the due dilligence required to understand multiple holdings etc, I know I don't. I think the company has done good work turning the debt around and I've enjoyed my run with them.
Good luck to all that take on this loan, clearly an experienced crew which has to help, just not for me today.
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easylender
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Post by easylender on Jan 17, 2018 17:43:33 GMT
Following the excellent commentary from jjc and all the FAQs from SophieThing I am now convinced that this is a good bet and have decided to invest.
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liso
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Post by liso on Jan 17, 2018 18:34:30 GMT
@magenta14
I'm not sure that I agree with you. AIUI, it is generally expected that the supermarkets will be the ones hardest hit by Unit pricing. There is even an argument to be made that pubs/bars will be the beneficiaries as customers may return.
As for the pubs being "the poorest of the poor and down at heel", the valuer's comments on some of the pubs are at odds with that, as are some of the Tripadvisor reviews.
And MT's update makes it clear that the purchasers will have the choice to buy/run the pub as Tied or Free.
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Post by df on Jan 17, 2018 18:56:48 GMT
Good news I managed to sell almost all my AC loans with the same melange of companies. Me too - with thanks to whomever bought my last £7.51 late last night. The same here. I was surprised how quick I sold them, providing that 2 of them are overdue. The funds went straight to MTBE924 in addition to what I already invested yesterday.
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Post by elephantrosie on Jan 18, 2018 0:26:45 GMT
agree 2 monthly updates with photos will be great
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woodie
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Post by woodie on Jan 18, 2018 0:46:57 GMT
Great post jjc ( please post more often). I won't pretend that I understood all of it but I do appreciate the gist.
With you comments and MT's reassurance I'm pleased that I made yesterday's investment.
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elliotn
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Post by elliotn on Jan 18, 2018 2:11:02 GMT
i agree excellent post maybe p2p platforms might be able to come up with this sort of background work any time soon. Agree, this should be from the pro-active - but standard - efforts of the investment company to persuade investors rather than the heroic efforts of individual investors (time for a due diligence suite with repayments' status in place of a paragraph and ad hoc faq's MoneyThing ?). I may sip at last chance saloon .
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copacetic
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Post by copacetic on Jan 18, 2018 9:37:59 GMT
Only 41% filled so far. Unfortunately mid January is the worst time to launch a p2p loan with people paying Christmas credit card bills and perhaps diverting their income for tax bills. I wonder if this one is going to need some cashback to tempt people into bringing out their cash reserves.
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bugs4me
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Post by bugs4me on Jan 18, 2018 9:58:11 GMT
Only 41% filled so far. Unfortunately mid January is the worst time to launch a p2p loan with people paying Christmas credit card bills and perhaps diverting their income for tax bills. I wonder if this one is going to need some cashback to tempt people into bringing out their cash reserves. It is a slow mover but maybe if they (MT) and other platforms presented their loan opportunities as laid out by jjc here they would come across far more professional IMO.
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oldtimer
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Post by oldtimer on Jan 18, 2018 9:58:43 GMT
Only 41% filled so far. Unfortunately mid January is the worst time to launch a p2p loan with people paying Christmas credit card bills and perhaps diverting their income for tax bills. I wonder if this one is going to need some cashback to tempt people into bringing out their cash reserves. I think it would help if they got their IFISA underway or at least gave an indication as to where they are with it. I for one will not be investing any more in MT until their IFISA comes about. In fact I will be reducing my holding to pay money back into a flexible ISA elsewhere so I do not loose the flexibility of previous years ISA holdings. There is a deafening silence every time MoneyThing are asked for an update.
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archie
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Post by archie on Jan 18, 2018 10:11:51 GMT
A default repaying would help.
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bugs4me
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Post by bugs4me on Jan 18, 2018 10:13:11 GMT
<snip> There is a deafening silence every time MoneyThing are asked for an update. I think MT decided a few months ago to stop engaging with the forum. Every time they answered a query it automatically seemed to throw up several more so their time would be better spent managing the business in their opinion. Unfortunately this 'rule' by MT has resulted in 'genuine' questions failing to be addressed. MT are not alone in this. However, often the way in which loans are presented, not just by MT, leaves a great deal to be desired and many subsequent questions/queries could easily have been answered from day one. The amount of time required to carry out meaningful DD seems to be increasing as known information to the platform is withheld. This failure to disclose what many would consider are material facts simply casts an aspertion on what could be a worthwhile investment.
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r00lish67
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Post by r00lish67 on Jan 18, 2018 10:18:44 GMT
<snip> There is a deafening silence every time MoneyThing are asked for an update. I think MT decided a few months ago to stop engaging with the forum a few months ago. Every time they answered a query it automatically seemed to throw up several more so their time would be better spent managing the business in their opinion. Unfortunately this 'rule' by MT has resulted in 'genuine' questions failing to be addressed. MT are not alone in this. However, often the way in which loans are presented, not just by MT, leaves a great deal to be desired and many subsequent questions/queries could easily have been answered from day one. The amount of time required to carry out meaningful DD seems to be increasing as known information to the platform is withheld. This failure to disclose what many would consider are material facts simply casts an aspertion on what could be a worthwhile investment. Agree with your second para, but re: the first, to be fair they have uploaded two sets of answers to questions from this forum on their platform for this loan. I think it is actually a better way of responding as it saves the need for investors to pore through every post of a thread and ensures that all information is available in one consolidated place.
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