mikeh
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Post by mikeh on Jun 14, 2019 13:01:02 GMT
I've been hoping for something like this for some time. Great move in my opinion as long as it's less interest for less risk.
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ahowlin
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Post by ahowlin on Jun 14, 2019 13:07:46 GMT
I've been hoping for something like this for some time. Great move in my opinion as long as it's less interest for less risk. I totally agree. Right now there is a shortage of new loans, the failure of Lendy has had an unsettling effect, in fact I wonder if that is why rates on Ratesetter are rising this last week. If this rectifies Moneything's flow of new deals and allows greater diversification together with lower risk I am all for it.
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Post by spareapennyor2 on Jun 14, 2019 13:09:58 GMT
long time coming increase in more good loans more than welcome
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bramhall17
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Post by bramhall17 on Jun 14, 2019 13:10:40 GMT
Yes I agree with you. Presuming that is that the ability to be more competitive enables MT to attract more solid investment opportunities for us to consider. But I don't think we can just assume that 8% is for higher quality loans and need to test each opportunity as it comes along. I don't want to receive 8% for a 12% risk !
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m2btj
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Post by m2btj on Jun 14, 2019 13:13:21 GMT
Investors have become more wary & risk averse since COL was wound up by the FCA. I believe this be a pragmatic move by MT which should see it compete successfully once again. The days of the 12 & 14% high risk loans are over for now & I wish MT the very best in putting together a range of sensible loan offerings to tempt investors & borrowers alike.
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dovap
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Post by dovap on Jun 14, 2019 13:36:11 GMT
presumably there's some sort of sales puff floating around regarding this new quality of offering ?
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jcb208
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Post by jcb208 on Jun 14, 2019 14:01:43 GMT
I thought this would happen as there has been very few loans of as late.I agree with the move as long as the risk is lower an the valuations are accurate with lower LTV's.I have liked the moneything platform and get the feeling they care more about their customers then the likes of Lendy and Fundingsecure
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mikeh
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Post by mikeh on Jun 14, 2019 14:03:43 GMT
presumably there's some sort of sales puff floating around regarding this new quality of offering ? There's an email and a general update on the site.
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dovap
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Post by dovap on Jun 14, 2019 14:16:48 GMT
Thanks. No email (as yet) but I've now learnt there's a general update tab which I'd never noticed/looked at before cheers
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Post by df on Jun 14, 2019 16:56:22 GMT
Yes I agree with you. Presuming that is that the ability to be more competitive enables MT to attract more solid investment opportunities for us to consider. But I don't think we can just assume that 8% is for higher quality loans and need to test each opportunity as it comes along. I don't want to receive 8% for a 12% risk ! That's my main worry. We don't know whether these will carry a lower risk. If I'm not mistaken, all Lendy 7% loans have eventually repaid. However, I don't think Lendy's 8%-10% were at any lower risk than 12%-ers. Of course, MT and SS/Ly working ethos and practices are not the same, so I consider MT loans generally somewhat lower risk than Ly's. Assuming the probability of failure of 8%-er and 12%-er is the same, reduced risk can come with the increase of origination (I suppose AC has done it about 2 years ago) so we have more loans to diversify our funds. I'm not sure whether MT will be able to bring enough new loans to make it worthwhile, we'll have to see. Overall, I think this is the right (probably a little overdue) move. The current competition is tough and decreasing the rates is probably the only way for business to survive. If it goes well, the former rates will be almost forgotten and investors will perceive new rates as a norm - UB, LC, AC are some examples of this happened in recent past.
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jester
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Post by jester on Jun 14, 2019 16:57:37 GMT
Can I take any credit for the change of tact ...... p2pindependentforum.com/thread/14945/grinding-halt .... payment accepted in chocolate form although perhaps only worth a Freddo! On a more serious note I think we've been crying out for this! MT is a platform that operates openly and professionally but it needs to offer loans that match up to their operation. Hopefully the change of a few percent pave the way for this step change!
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hazellend
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Post by hazellend on Jun 14, 2019 17:26:51 GMT
Well Huddle have just put up a loan today. 16% secured with first charge against residential property at 13% LTV. Yes that’s not a typo.
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cwah
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Post by cwah on Jun 14, 2019 18:02:51 GMT
Well Huddle have just put up a loan today. 16% secured with first charge against residential property at 13% LTV. Yes that’s not a typo. Whats huddle? Another platform?
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hazellend
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Post by hazellend on Jun 14, 2019 18:25:18 GMT
Well Huddle have just put up a loan today. 16% secured with first charge against residential property at 13% LTV. Yes that’s not a typo. Whats huddle? Another platform? Yes, part owned by ABLrate
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Post by df on Jun 14, 2019 18:33:35 GMT
Well Huddle have just put up a loan today. 16% secured with first charge against residential property at 13% LTV. Yes that’s not a typo. Yes, and filling up very quick because it's very small and 1st charge and LTV. I'm sure it will be fully funded on Monday when deposits arrive
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