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Post by elephantrosie on Nov 10, 2019 23:15:54 GMT
I see many investors are selling on SM. Not been very active or observing MT closely. Anything that has happened recently to it?
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Post by Ace on Nov 10, 2019 23:40:25 GMT
There seems to be a general lack of confidence in P2P at the moment, particularly in the 12%+ bracket. Probably exacerbated by the recent, though long anticipated, FS demise.
MT have quite a few loans that have been dragging their feet for far too long. With no new loans for several months, despite their stated new direction towards the lower rate/risk end of the market, it gives me the feeling of a platform in controlled rundown. Not that there's anything wrong with that if they can't make it work. It's better than putting the platform into administration, I think.
Having said that, I'm happy to reinvest any payments at the discounts offered for my preferred loans. I doubt I'll be adding any new money though.
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Post by Badly Drawn Stickman on Nov 12, 2019 17:24:13 GMT
There seems to be a general lack of confidence in P2P at the moment, particularly in the 12%+ bracket. Probably exacerbated by the recent, though long anticipated, FS demise. MT have quite a few loans that have been dragging their feet for far too long. With no new loans for several months, despite their stated new direction towards the lower rate/risk end of the market, it gives me the feeling of a platform in controlled rundown. Not that there's anything wrong with that if they can't make it work. It's better than putting the platform into administration, I think. Having said that, I'm happy to reinvest any payments at the discounts offered for my preferred loans. I doubt I'll be adding any new money though. I tend to agree, but personally I am going against the tide a bit by adding funds (Ex Lendy, battle hardened money ideal for the job). There seems to me to be viable loans at a discount that makes it 'the right time'. Needless to say it does very much hinge on Moneything staying in business which I suspect is the big worry for most investors. I take their recent comments on future plans as genuine and think that after a period of as you put it managed rundown, will reset the business model. Maybe I am wrong but they have retained goodwill for a lot longer than any other platform despite their problem loans.
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KoR_Wraith
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Post by KoR_Wraith on Nov 12, 2019 17:54:42 GMT
I tend to agree, but personally I am going against the tide a bit by adding funds (Ex Lendy, battle hardened money ideal for the job). There seems to me to be viable loans at a discount that makes it 'the right time'. Needless to say it does very much hinge on Moneything staying in business which I suspect is the big worry for most investors. I take their recent comments on future plans as genuine and think that after a period of as you put it managed rundown, will reset the business model. Maybe I am wrong but they have retained goodwill for a lot longer than any other platform despite their problem loans. I share your thoughts on some of the loans but, having been burned by Lendy and FS, I wouldn't forgive myself for depositing funds without some sign of new activity.
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Post by Badly Drawn Stickman on Nov 12, 2019 18:32:48 GMT
I tend to agree, but personally I am going against the tide a bit by adding funds (Ex Lendy, battle hardened money ideal for the job). There seems to me to be viable loans at a discount that makes it 'the right time'. Needless to say it does very much hinge on Moneything staying in business which I suspect is the big worry for most investors. I take their recent comments on future plans as genuine and think that after a period of as you put it managed rundown, will reset the business model. Maybe I am wrong but they have retained goodwill for a lot longer than any other platform despite their problem loans. I share your thoughts on some of the loans but, having been burned by Lendy and FS, I wouldn't forgive myself for depositing funds without some sign of new activity. I have to admit it was not an easy decision. I am well passed counting my chickens whilst hatching is awaited, but the Scotland loan is looking a possibility, and after that options may be more restricted hence the 'right time'. Luckily FS won't hurt me, but I do have collateral instead, I might well just be trying to balance the books a bit by ripping pages from the back to match the front and should have my laptop confiscated.
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KoR_Wraith
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Post by KoR_Wraith on Nov 12, 2019 18:40:23 GMT
I have to admit it was not an easy decision. I am well passed counting my chickens whilst hatching is awaited, but the Scotland loan is looking a possibility, and after that options may be more restricted hence the 'right time'. Do you mean the Holiday Park? If so, trading on it is currently suspended.
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Post by Badly Drawn Stickman on Nov 12, 2019 19:00:47 GMT
I have to admit it was not an easy decision. I am well passed counting my chickens whilst hatching is awaited, but the Scotland loan is looking a possibility, and after that options may be more restricted hence the 'right time'. Do you mean the Holiday Park? If so, trading on it is currently suspended. I meant a possibility to repay adding funds to the platform. Few others in the frame to repay that are live, but not really where I am looking. I was not going to mention any live loans as targets, that could quite easily be interpreted as 'talking up' my own holdings.
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tommo
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Post by tommo on Nov 12, 2019 19:27:43 GMT
I too am buying on the secondary market. Confident that Scotland will repay, which should give a nice injection of mgmt fees for MT. Fees which I presume haven't been paid to them since Feb/Mar.
But it would be good to hear from them to settle a few nerves.
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cwah
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Post by cwah on Nov 12, 2019 21:57:39 GMT
I'm waiting for the resolution on the liverpool loan... If it fails it's going to be an additional torrent of discounted loan and much higher risk of platform failure
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