m2btj
Member of DD Central
Posts: 626 
Likes: 749
|
Post by m2btj on Aug 13, 2018 15:52:57 GMT
Notice to lenders:
(MTBG936, 937, 938, 941, 942, 943, 951, 952 & 953) P******e Asset Finance Limited
NOW REPAID
|
|
ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on Aug 13, 2018 16:07:31 GMT
What a shame that these have repaid so early and without warning that this was likely. We are told that the borrower wants to come back to Moneything at a later date for further funding but I think they would be better suited to the (yet to get off the ground) ablrate portfolio loan product if they are looking to dip in and out of funds. |
|
|
|
Post by GSV3MIaC on Aug 13, 2018 16:17:27 GMT
Yep, annoying. 4 days ago we were told they were 'performing', with no hint they were about to retire. I liked these, but I'll like any new ones less next time, given the cash drag they provoke.
|
|
zendog
Member of DD Central
Posts: 137
Likes: 83
|
Post by zendog on Aug 13, 2018 17:02:36 GMT
It was a surprise repayment for me, but also maybe to Moneything as well. They will have lost out financially as well as us.
|
|
ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on Aug 13, 2018 17:05:30 GMT
It may well have been a surprise to MoneyThing too and of course they could engage with us here on the forum and perhaps tell us why these loans have been repaid (but why they are likely to come back to us for further finance in the future), but hoping for that seems rather unlikely these days |
|
|
|
Post by MoneyThing on Aug 13, 2018 17:14:41 GMT
It may well have been a surprise to MoneyThing too and of course they could engage with us here on the forum and perhaps tell us why these loans have been repaid (but why they are likely to come back to us for further finance in the future), but hoping for that seems rather unlikely these days Evening ptr120 - we are still here! We do engage where we can on the forum, however as stated previously, for any loan specific info we will always post the information on the platform so as to be fair to all MT lenders. (We do however monitor the questions which do arise here and post updates on the platform where appropriate, for example FAQs for new loans). Regards, Ed
|
|
archie
Posts: 1,839
Likes: 1,842
|
Post by archie on Aug 13, 2018 17:16:36 GMT
My favourite loan.  I'd managed to build up quite a large holding compared to the original bid limits. |
|
|
|
Post by trentenders on Aug 13, 2018 17:22:14 GMT
Shame - I liked these loans a lot. The silver lining might be that some of the sales queues move a little faster these next few days.
|
|
ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on Aug 13, 2018 17:38:20 GMT
It may well have been a surprise to MoneyThing too and of course they could engage with us here on the forum and perhaps tell us why these loans have been repaid (but why they are likely to come back to us for further finance in the future), but hoping for that seems rather unlikely these days Evening ptr120 - we are still here! We do engage where we can on the forum, however as stated previously, for any loan specific info we will always post the information on the platform so as to be fair to all MT lenders. (We do however monitor the questions which do arise here and post updates on the platform where appropriate, for example FAQs for new loans). Regards, Ed Hi Ed, The platform is of course the right place for 'information', but to 'engage' with us here (now that the information is on the record), perhaps you can advise why we were advised just days ago that this loan was performing with no issues to report, and now we get full payment without previously being given a heads-up? If the borrower is to return in future, perhaps it makes sense for a minimum period to be included in the proposal?
|
|
|
|
Post by MoneyThing on Aug 13, 2018 18:29:25 GMT
Evening ptr120 - we are still here! We do engage where we can on the forum, however as stated previously, for any loan specific info we will always post the information on the platform so as to be fair to all MT lenders. (We do however monitor the questions which do arise here and post updates on the platform where appropriate, for example FAQs for new loans). Regards, Ed Hi Ed, The platform is of course the right place for 'information', but to 'engage' with us here (now that the information is on the record), perhaps you can advise why we were advised just days ago that this loan was performing with no issues to report, and now we get full payment without previously being given a heads-up? If the borrower is to return in future, perhaps it makes sense for a minimum period to be included in the proposal? Acknowledged. From the borrower’s perspective, it was also unforeseen due to a spike in cash flow which only happened at the weekend. Somewhat understandably the borrower was reluctant to service interest on money that they were not going to utilise short term, hence decided to repay the facility. As noted in the loan listing, each of the loans had a minimum guaranteed term of 1 month (lenders were paid an extra 4 days interest on tranches 7, 8 & 9 as part of this). However, since this facility is redeemed in full, we will take the opportunity to revisit the new one(s) so that it provides some greater certainty / continuity for lenders in future. Regards, Ed
|
|
ganymede
Member of DD Central
Posts: 299
Likes: 207
|
Post by ganymede on Aug 13, 2018 18:37:41 GMT
A great pity I had all repay. Up to my limit on what's available on SM, I've ended up withdrawing the funds.
|
|
IFISAcava
Member of DD Central
Posts: 3,665
Likes: 2,989
|
Post by IFISAcava on Aug 13, 2018 19:10:52 GMT
I think this might need renaming the P2P Goldilocks Forum: loan pays back late - wrath; loan pays back early - more wrath; loan pays back at *just* the right time - contentment. Watch out for those three bears.
|
|
ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on Aug 14, 2018 5:28:29 GMT
Acknowledged. From the borrower’s perspective, it was also unforeseen due to a spike in cash flow which only happened at the weekend. Somewhat understandably the borrower was reluctant to service interest on money that they were not going to utilise short term, hence decided to repay the facility. As noted in the loan listing, each of the loans had a minimum guaranteed term of 1 month (lenders were paid an extra 4 days interest on tranches 7, 8 & 9 as part of this). However, since this facility is redeemed in full, we will take the opportunity to revisit the new one(s) so that it provides some greater certainty / continuity for lenders in future. Regards, Ed Thanks Ed, the fuller explanation / engagement is appreciated. I can understand the borrowers position. As long as I don't need to wait too long for new investment opportunities I'll leave the funds on the platform for now.
|
|
m2btj
Member of DD Central
Posts: 626
Likes: 749
|
Post by m2btj on Aug 16, 2018 8:55:54 GMT
(MTAD894) Alfa Romeo Spider & MGB Roadster
NOW REPAID
Another good loan repays! I like these classic car loans & the excellent security underpinning them.
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Aug 16, 2018 9:09:38 GMT
That should mean MTAD901 - Jensen & Jag repays as well, although no signs of it yet, and it's still showing repayment on the 18th. Indeed, I think it was the Jensen sale that was supposed to be re-paying the Spider.
In Edit: apparently not according to the latest MT update that has just appeared ~ repayment early next week.
|
|
