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Post by dan1 on Aug 31, 2018 11:38:37 GMT
I've not accepted the new terms so won't be investing in this loan but I'd recommend those considering investing to look at CH. Try searching for the sole directors first name & surname and investigating those matching the DoB. There appear to be several active and resigned directorships. Oh, and please report your findings in DDC, thanks! I'm curious as to why not? Apologies if you've explained this before elsewhere. I'm not comfortable with the new confidentiality clause and believe it's a regressive step. Probably best to have a read of... p2pindependentforum.com/thread/12170/new-released-3rd-april-2018
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Nomad
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Post by Nomad on Aug 31, 2018 11:47:28 GMT
FAQ posted on MT site.
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star dust
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Post by star dust on Aug 31, 2018 11:50:04 GMT
I haven't signed the 'new' t&c's either and am thus exiting by default. Nearly shot of all the property loans, (well eight months of trying on one and I'm approaching the beginning of the sales Q), and just running down the rest of the bling & cars loan book. I may accelerate it as the end (of my loan-book) is nigh.
Actually the poll dan1 linked to had a substantial proportion reporting they wouldn't sign the new t&c's - I wonder what the position is now.
In Edit: Times have changed - not sure the bidding limit was required an hour later and only ~£80k ~6% gone.
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hazellend
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Post by hazellend on Aug 31, 2018 12:19:53 GMT
I’m in for a bite should get decent instant returns
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picnicman
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Post by picnicman on Aug 31, 2018 12:48:28 GMT
I haven't signed the 'new' t&c's either and am thus exiting by default. Nearly shot of all the property loans, (well eight months of trying on one and I'm approaching the beginning of the sales Q), and just running down the rest of the bling & cars loan book. I may accelerate it as the end (of my loan-book) is nigh.
Actually the poll dan1 linked to had a substantial proportion reporting they wouldn't sign the new t&c's - I wonder what the position is now.
In Edit: Times have changed - not sure the bidding limit was required an hour later and only ~£80k ~6% gone.
@star dust - do you mean you are getting out of bling and cars as they naturally repay or are you selling up early - surely these are reasonable loans earning good interest and you like many would surely hold on to them? Just want to make sure I am not missing something - Cheers P ps thanks for the work you do keeping the wheat from the chaff over on Col - appreciated.
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coop
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Post by coop on Aug 31, 2018 13:03:51 GMT
I haven't signed the 'new' t&c's either and am thus exiting by default. Nearly shot of all the property loans, (well eight months of trying on one and I'm approaching the beginning of the sales Q), and just running down the rest of the bling & cars loan book. I may accelerate it as the end (of my loan-book) is nigh.
Actually the poll dan1 linked to had a substantial proportion reporting they wouldn't sign the new t&c's - I wonder what the position is now.
In Edit: Times have changed - not sure the bidding limit was required an hour later and only ~£80k ~6% gone.
feel free to let me know exactly when you're putting the bling and cars up for sale!
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star dust
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Post by star dust on Aug 31, 2018 13:30:24 GMT
I haven't signed the 'new' t&c's either and am thus exiting by default. Nearly shot of all the property loans, (well eight months of trying on one and I'm approaching the beginning of the sales Q), and just running down the rest of the bling & cars loan book. I may accelerate it as the end (of my loan-book) is nigh.
Actually the poll dan1 linked to had a substantial proportion reporting they wouldn't sign the new t&c's - I wonder what the position is now.
In Edit: Times have changed - not sure the bidding limit was required an hour later and only ~£80k ~6% gone.
@star dust - do you mean you are getting out of bling and cars as they naturally repay or are you selling up early - surely these are reasonable loans earning good interest and you like many would surely hold on to them? Just want to make sure I am not missing something - Cheers P ps thanks for the work you do keeping the wheat from the chaff over on Col - appreciated. Getting out of the bling etc as it repays, but still making sure I'm happy to hold with on-going checks on borrower's /companies etc. However, as time goes by I'm going to end up with a smaller and a rather skewed loan book on the platform, so I may just decide to sell out. Might review again on the handling of the Birkenhead and Lytham defaults too, both of which I'm in unfortunately.
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Post by Badly Drawn Stickman on Aug 31, 2018 14:42:56 GMT
I haven't signed the 'new' t&c's either and am thus exiting by default. Nearly shot of all the property loans, (well eight months of trying on one and I'm approaching the beginning of the sales Q), and just running down the rest of the bling & cars loan book. I may accelerate it as the end (of my loan-book) is nigh.
Actually the poll dan1 linked to had a substantial proportion reporting they wouldn't sign the new t&c's - I wonder what the position is now.
In Edit: Times have changed - not sure the bidding limit was required an hour later and only ~£80k ~6% gone.
Its an interesting challenge not to sign them, given that the acceptance button takes up most of the landing screen, I see no point accepting them unless I feel I want to invest further, and right now I don't. I'm not saying never, but thinking unlikely. Which brings me to this choice offering. Do I need to lend on another chunk of land with possible potential, but no real exit route? Maybe not If I did would this be the one? Maybe not Do I think first cashback will be offered and then a deadline (usually movable) set before this loan is dragged over the line? For sure Do I think it would be worth sticking a bit in hoping for a cancellation? Yes, but not enough to sign the new t&c's Well I think that's quite enough DD for one day.
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Post by flobberchops on Sept 2, 2018 19:25:51 GMT
I would have thought any new loan on MT would have been snapped up in seconds. Evidently not.
Could somebody explain to me like I'm a five-year old what's wrong with this one?
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78
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Post by 78 on Sept 2, 2018 20:01:23 GMT
Loan Value £1.4m Market value from the valuation assuming special assumption 1 (sale within 180 days) £1.2m
IF (and its a big IF) planning consent for the proposed use is granted then the site is worth much more.
Thats my read of the documents supplied.
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TitoPuente
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Post by TitoPuente on Sept 2, 2018 20:04:20 GMT
I would have thought any new loan on MT would have been snapped up in seconds. Evidently not.
Could somebody explain to me like I'm a five-year old what's wrong with this one?
It’s dross.
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cedarcourtcapital
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Listening is not the same as understanding
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Post by cedarcourtcapital on Sept 2, 2018 21:43:49 GMT
Could somebody explain to me like I'm a five-year old what's wrong with this one?
Have you seen Moneything's track record on property loans? They built a stellar reputation on small pawn, motor etc. Loans, tried to scale up with property loans with at best, mixed, at worst, disastrous results. Plus their previous good track record for communication has been shot to pieces with the communication fiasco they are currently presiding over on a very large property loan default, which looks like it will costs lenders an awful lot of money, because of a worthless inaccurate valuation. I actually fear for the future of the platform because in this climate the only loans they are likely to be able to get away economically, ie without substantial cashback, are small pawn or motor loans, which Moneything lenders know they do well, and there are not enough of these for any kind of business model.
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dovap
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Post by dovap on Sept 2, 2018 22:15:10 GMT
I would have thought any new loan on MT would have been snapped up in seconds. Evidently not.
Could somebody explain to me like I'm a five-year old what's wrong with this one?
Could someone explain what's right with it? No planning permission is an instant turn off for me. Is this the one that's already had two failed attempts at getting planning ? tbh I don't bother too closely with MT prop loans these days and just assume they are iffy - saves a bit of time.
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derbyfella
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Post by derbyfella on Sept 3, 2018 18:43:03 GMT
shant be touching this.
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hazellend
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Post by hazellend on Sept 6, 2018 6:10:51 GMT
Don’t see this one ever being funded, even if CB is added. Point proven tonight. Just shy of £1million in tonight and this has barely moved. I don’t like to see MT wasting money in interest. Why hasn’t is been pulled? Might be waiting for hotel to repay ? I’ve invested on day 1 so don’t mind either way
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