Monetus
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Post by Monetus on May 21, 2019 17:33:39 GMT
Update: "The sale is progressing positively through legals. All parties are aiming to complete w/c 10th June."
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coop
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Post by coop on May 22, 2019 10:17:32 GMT
An interesting comparison between this and the bradford loan:
Liverpool:
Latest update: "aiming to complete 10th June"
Loan - £2.5m
Available: £894k (35% of total)
Biggest discount: 2%
Bradford:
Latest update: "no completion date yet but parties aiming to do so before loan term ends (21/6)
Loan - £963k
Available - £149k (15% of total)
Biggest discount 0.5%
Looks like lenders has more confidence in Bradford than Liverpool; although important to note in both loans the vast majority of prospective sales are at par.
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hazellend
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Post by hazellend on May 22, 2019 10:42:44 GMT
An interesting comparison between this and the bradford loan: Liverpool: Latest update: "aiming to complete 10th June" Loan - £2.5m Available: £894k (35% of total) Biggest discount: 2% Bradford: Latest update: "no completion date yet but parties aiming to do so before loan term ends (21/6) Loan - £963k Available - £149k (15% of total) Biggest discount 0.5% Looks like lenders has more confidence in Bradford than Liverpool; although important to note in both loans the vast majority of prospective sales are at par. I don’t think discount amount tells you much about confidence. P2P is not an efficient market like equities. There is a lot of “dumb money” in P2P
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Post by eascogo on May 22, 2019 10:51:10 GMT
An interesting comparison between this and the bradford loan: Liverpool: Latest update: "aiming to complete 10th June" Loan - £2.5m Available: £894k (35% of total) Biggest discount: 2% Bradford: Latest update: "no completion date yet but parties aiming to do so before loan term ends (21/6) Loan - £963k Available - £149k (15% of total) Biggest discount 0.5% Looks like lenders has more confidence in Bradford than Liverpool; although important to note in both loans the vast majority of prospective sales are at par. Also worth noting that yesterday update on the Liverpool loan boosted confidence. All the parts offered at >2% discount were bought very quickly. Over the past week I bought a fair share at 4 and 5% discount knowing I was taking a gamble. I think the recent introduction of discount on the SM has made the platform a good deal more attractive.
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amwinv
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Post by amwinv on May 22, 2019 12:57:11 GMT
But hasn't this loan been aiming to complete "the following month" for about half a year? I don't get why everyone suddenly believes this last update. Or have I missed something?
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Post by eascogo on May 22, 2019 13:19:06 GMT
But hasn't this loan been aiming to complete "the following month" for about half a year? I don't get why everyone suddenly believes this last update. Or have I missed something? Aside the discount there is also the attraction of 15% interest so that further delays are no great inconvenience as long as the loan eventually repays. Some people are happy to take a gamble.
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amwinv
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Post by amwinv on May 22, 2019 14:04:22 GMT
But hasn't this loan been aiming to complete "the following month" for about half a year? I don't get why everyone suddenly believes this last update. Or have I missed something? Aside the discount there is also the attraction of 15% interest so that further delays are no great inconvenience as long as the loan eventually repays. Some people are happy to take a gamble. Oh, I'll never underestimate the power of the percentage. Don't worry. I mean you just gotta look at the m*rsey st*rage loans debacle. There was barely any availability right up until it finally popped. Its just that this one has been 15% since march. And its been persistently 94-95% right up until a few days back. If it's not any new information, then I guess I'll just never understand the sudden inexplicable herd shifts in p2p.
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Post by Badly Drawn Stickman on May 22, 2019 15:52:41 GMT
Aside the discount there is also the attraction of 15% interest so that further delays are no great inconvenience as long as the loan eventually repays. Some people are happy to take a gamble. Oh, I'll never underestimate the power of the percentage. Don't worry. I mean you just gotta look at the m*rsey st*rage loans debacle. There was barely any availability right up until it finally popped. Its just that this one has been 15% since march. And its been persistently 94-95% right up until a few days back. If it's not any new information, then I guess I'll just never understand the sudden inexplicable herd shifts in p2p. The Scottish holiday development is technically 15% now, although moneything have not changed it on the listing. My point (I should have just put the usual bland 'new update on site', really) was that despite people asking for updates, they tend not to believe them anyway so its all a bit pointless. If there was confidence in the updates most of the loans would be at par with just an occasional small reduction by somebody wanting to release funds. Having said that I am not unhappy with the way it is currently working, if a little puzzled why some loans are excluded when they are probably the ones some people are most eager to trade.
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stevio
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Post by stevio on May 22, 2019 17:44:48 GMT
But hasn't this loan been aiming to complete "the following month" for about half a year? I don't get why everyone suddenly believes this last update. Or have I missed something? Aside the discount there is also the attraction of 15% interest so that further delays are no great inconvenience as long as the loan eventually repays. Some people are happy to take a gamble. MT has done existing lenders a huge favour, allowed them to exit this loan with full capital return and still paid them at least a 9% return (13%-4% discount = 9%) Those that buy this though, with marketed 4% discount and extra 2% interest (in reality this 2% is probably just 0.5% for the 3 months the loan maybe held, any longer and the chances of full repayment seriously decline), gain maybe 4.5% interest over 3 months, but seriously risk up to 66% loss of capital. Those odds are also at the nearest bookies, for those that dont like their money but like a "gamble" 
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Post by queenvictoria on May 22, 2019 17:58:49 GMT
Aside the discount there is also the attraction of 15% interest so that further delays are no great inconvenience as long as the loan eventually repays. Some people are happy to take a gamble. MT has done existing lenders a huge favour, allowed them to exit this loan with full capital return and still paid them at least a 9% return (13%-4% discount = 9%) Those that buy this though, with marketed 4% discount and extra 2% interest (in reality this 2% is probably just 0.5% for the 3 months the loan maybe held, any longer and the chances of full repayment seriously decline), gain maybe 4.5% interest over 3 months, but seriously risk up to 66% loss of capital. Those odds are also at the nearest bookies, for those that dont like their money but like a "gamble" I was glad to leave this and the scottish one at 4.5-5% discount exactly for the reasons you set out above. Would love to trade the N-U-L one too if I could; I'd accept a bigger discount on that one.
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noh
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Post by noh on May 22, 2019 20:11:55 GMT
Just got rid of my holding at 2.5% discount. It sold within 15 minutes £2k worth.
Happy with that result. Just one more to get rid of but not able to discount that.
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ptr120
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Post by ptr120 on May 28, 2019 19:36:06 GMT
Apparently the buyer sent the wrong interest amount and the correct sum should be received tomorrow. I don't know if that means that the loan will repay tomorrow, or if, for some reason, the buyer is already paying interest on the loan (although the borrower is legally responsible). It is quite difficult to know the status of interest payments on the MoneyThing site and I wish they would do something about it. The ABL website is quite good in this respect. |
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mikeh
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Post by mikeh on May 28, 2019 20:08:13 GMT
I assume it refers to the monthly interest repayment.
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archie
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Post by archie on May 29, 2019 10:20:41 GMT
I assume it refers to the monthly interest repayment. Interest has been paid today.
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Post by herrbert on May 30, 2019 9:27:05 GMT
Apparently the buyer sent the wrong interest amount and the correct sum should be received tomorrow. I don't know if that means that the loan will repay tomorrow, or if, for some reason, the buyer is already paying interest on the loan (although the borrower is legally responsible). It is quite difficult to know the status of interest payments on the MoneyThing site and I wish they would do something about it. The ABL website is quite good in this respect. I absolutely agree. This (the status of interest payments) is the biggest problem with MoneyThing. And the thin loan book. I would consider reinvesting, if these two would be fixed.
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