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Post by Deleted on Oct 18, 2018 10:55:00 GMT
deleted, got my facts wrong
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Post by spareapennyor2 on Oct 18, 2018 11:35:40 GMT
unsold 180K
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Post by funkymonkey on Oct 18, 2018 11:46:23 GMT
Will be interesting to see the next step
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cedarcourtcapital
Member of DD Central
Listening is not the same as understanding
Posts: 190
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Post by cedarcourtcapital on Oct 18, 2018 15:18:27 GMT
Will be interesting to see the next step Interesting it might be, but it will also be worrying for Moneything and their future reputation, and the lenders who saw 18% and thought this was a good short term home for their money. Let's hope today is not the disaster it appears.
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amwinv
Member of DD Central
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Post by amwinv on Oct 18, 2018 16:54:35 GMT
Will be interesting to see the next step Interesting it might be, but it will also be worrying for Moneything and their future reputation, and the lenders who saw 18% and thought this was a good short term home for their money. Let's hope today is not the disaster it appears. Im sorry... but anyone that saw a "one month extension" from almost a year ago still active and paying 18% (!!!!) was taking a MASSIVE gamble with their money. Any losses here and it shouldn't exactly be MTs reputation at stake. There's pages and pages of warnings and red flags on this thread. This loan was almost always without a queue, so people could sell out at any time. No sympathies at all for loses on this one.
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Post by trentenders on Oct 18, 2018 17:16:21 GMT
It wouldn't surprise me if you could still get out of this one by putting your loan parts up for sale....
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toffeeboy
Member of DD Central
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Post by toffeeboy on Oct 18, 2018 17:29:21 GMT
It wouldn't surprise me if you could still get out of this one by putting your loan parts up for sale.... It is selling still but only £450 today, with a £30k queue that means over two months to sell assuming the investment pace doesn't drop.
Will the borrower continue to pay the interest past the end of this month to keep this loan performing?
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Post by trentenders on Oct 18, 2018 17:30:07 GMT
Not everyone will read this forum and know about the auction. Then there's the £1m+ of uninvested cash sitting on the platform that needs a home, plus the Wigan repayments any minute now
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ptr120
Member of DD Central
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Post by ptr120 on Oct 19, 2018 9:36:08 GMT
Update on the site. MoneyThing you might want to check if you've done what you intended to do. The loan is showing in yellow as available to invest in as a new loan.
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Post by LucyThing on Oct 19, 2018 9:58:00 GMT
Thank you for letting us know ptr120...the yellow highlighting is an error and is currently being fixed.
Kind regards, LucyThing
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mickj
Member of DD Central
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Post by mickj on Oct 19, 2018 10:18:02 GMT
Loan now suspended, so my small investment that's in the sale queue is now locked down for a while.
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Post by eascogo on Oct 19, 2018 10:30:29 GMT
Thank you for letting us know ptr120...the yellow highlighting is an error and is currently being fixed. Kind regards, LucyThing Someone invested £1 (at 11:05) in this loan before the suspension was activated. At 18% my beady eyes might have popped out of their sockets and I might have jumped in with 30k without taking the time to look at the update, especially at the time when the yellow highlighting (mistakenly) pointed to a new loan.
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Doc
Member of DD Central
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Post by Doc on Oct 19, 2018 10:35:29 GMT
Loan now suspended, so my small investment that's in the sale queue is now locked down for a while. I am surprised this loan wasn't suspended earlier.
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Post by funkymonkey on Oct 29, 2018 11:21:41 GMT
MoneyThing Any update on whether the borrowers alternative plan was acceptable or not?
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Post by mrclondon on Nov 7, 2018 0:23:41 GMT
Auction listing is now marked as "Sold Post Auction" so this saga may be reaching the end game. Hopefully the borrower will be able to utilise the proceeds of the leasehold sales over the last 2 years to promptly make up the shortfall between the sale price for the residual freehold and the MT loan.
In the meantime the borrower's accounts are now 8 months overdue.
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