averageguy
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Post by averageguy on Nov 19, 2019 12:02:40 GMT
I think that it boils down to "where things matter" to each of us! In the crucial area of my household income now that I've retired, my two occupational pensions provide only annual members newsletters and the State Retirement Pension issues nothing (other than what I'll be getting in the next financial year). My equity investments provide annual reports (with quarterly updates if I go looking for them). My "loans" to banks and building societies result only in annual statements (with annual reports to members from building societies). It seems to me that it's only with high-rate P2P loans that frequent status updates are issued, perhaps because it's recognised that these loans are high-risk and that lenders have a much greater desire for reassurance. For lower-rate loans, for example at Proplend, nothing ever seems to be published until shortly before redemption. You refer the the "push" type of communications, which are generally infrequent - but there's often an online portal that gives the current pricing, or you can ring up and easily get an update. P2P in general is a long way off the transparent risk-based pricing that other markets enjoy; ABLrate is potentially closest but even then that's the ability to create a price rather than the level of information required to create an informed price My need for the information is to aid my personal planning - there's no guarantee of anything repaying, but if you have good updates then you can make informed choices about what to buy/sell elsewhere. If say my MT funds are to save for a car, if I know there's a decent chance of repayment next week I can start looking on AutoTrader or similar, but if I know it's a legal battle of c. 9 months I might look to sell some equities Agreed Also it’s mot unreasonable to expect regular updates on loans which are in default with no interest being paid
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sarahcount
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Post by sarahcount on Nov 19, 2019 12:36:27 GMT
You refer the the "push" type of communications, which are generally infrequent - but there's often an online portal that gives the current pricing, or you can ring up and easily get an update. P2P in general is a long way off the transparent risk-based pricing that other markets enjoy; ABLrate is potentially closest but even then that's the ability to create a price rather than the level of information required to create an informed price My need for the information is to aid my personal planning - there's no guarantee of anything repaying, but if you have good updates then you can make informed choices about what to buy/sell elsewhere. If say my MT funds are to save for a car, if I know there's a decent chance of repayment next week I can start looking on AutoTrader or similar, but if I know it's a legal battle of c. 9 months I might look to sell some equities Agreed Also it’s mot unreasonable to expect regular updates on loans which are in default with no interest being paid Do I detect a car joke or am I just trying too hard to find some light relief in P2P when everyone is applying the brakes on new money being invested?
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jonno
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nil satis nisi optimum
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Post by jonno on Nov 19, 2019 12:53:18 GMT
Agreed Also it’s mot unreasonable to expect regular updates on loans which are in default with no interest being paid Do I detect a car joke or am I just trying too hard to find some light relief in P2P when everyone is applying the brakes on new money being invested? As long as the interest continues to be serviced 
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averageguy
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Post by averageguy on Nov 19, 2019 14:00:16 GMT
Do I detect a car joke or am I just trying too hard to find some light relief in P2P when everyone is applying the brakes on new money being invested? As long as the interest continues to be serviced LOL ... now that’s a joke. Sorry Sarah ..poor typing on my part
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eeyore
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Post by eeyore on Nov 19, 2019 16:14:59 GMT
I think that it boils down to "where things matter" to each of us! ................ ................ ............. ............. My need for the information is to aid my personal planning - there's no guarantee of anything repaying, but if you have good updates then you can make informed choices about what to buy/sell elsewhere. If say my MT funds are to save for a car, if I know there's a decent chance of repayment next week I can start looking on AutoTrader or similar, but if I know it's a legal battle of c. 9 months I might look to sell some equities I agree! The point I was trying to make is that each of us will have different information needs, leading to potentially contrasting requirements for updates. [PS: any posts that can combine "MOTs", "cars" and "pushing" will always bring a smile of happy recollection to my face!]
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criston
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Post by criston on Nov 20, 2019 12:54:19 GMT
Moneything, this is £2.5m, not a few thousand, stop treating us with contempt.
Borrower gives misinformation.
Buyer gives misinformation.
Bond provider gives misinformation.
On Friday night Moneything said 'We are currently in communications with the borrower and other relevant parties this evening. We still hope to be in a position to update lenders this evening, but if not we should be able to do early next week.'
Now you are at it. You don't even have the care or courtesy to follow it up, one way or other.
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averageguy
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Post by averageguy on Nov 20, 2019 14:02:12 GMT
Moneything, this is £2.5m, not a few thousand, stop treating us with contempt. Borrower gives misinformation. Buyer gives misinformation. Bond provider gives misinformation. On Friday night Moneything said 'We are currently in communications with the borrower and other relevant parties this evening. We still hope to be in a position to update lenders this evening, but if not we should be able to do early next week.' Now you are at it. You don't even have the care or courtesy to follow it up, one way or other. ....and breathe out....
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criston
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Post by criston on Nov 20, 2019 14:45:28 GMT
Moneything, this is £2.5m, not a few thousand, stop treating us with contempt. Borrower gives misinformation. Buyer gives misinformation. Bond provider gives misinformation. On Friday night Moneything said 'We are currently in communications with the borrower and other relevant parties this evening. We still hope to be in a position to update lenders this evening, but if not we should be able to do early next week.' Now you are at it. You don't even have the care or courtesy to follow it up, one way or other. ....and breathe out.... That's just an opener; a copy of an email I sent to them.
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averageguy
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Post by averageguy on Nov 20, 2019 14:46:38 GMT
That's just an opener; a copy of an email I sent to them. I’ve emailed them myself today ...and yesterday
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criston
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Post by criston on Nov 20, 2019 14:53:53 GMT
That's just an opener; a copy of an email I sent to them. I’ve emailed them myself today ...and yesterday The more the merrier. support@moneything.com
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upperdeane
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Post by upperdeane on Nov 20, 2019 15:15:45 GMT
I’ve emailed them myself today ...and yesterday The more the merrier. support@moneything.com I've just emailed MT also.
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mw
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Post by mw on Nov 20, 2019 15:24:27 GMT
They've posted an update on site now.
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upperdeane
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Post by upperdeane on Nov 20, 2019 15:26:00 GMT
Mmmm - not the most encouraging update i've ever read.
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Monetus
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Post by Monetus on Nov 20, 2019 15:34:44 GMT
So we’re selling the site to someone else now?
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tony9239
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Post by tony9239 on Nov 20, 2019 15:42:14 GMT
Just what is it about property developments in the North West?
Nothing but over-valued, disastrous "lemons" that cannot be sold or refinanced strewn like some giant wasteland all across Lendy, FS, Collateral and now MT as well.
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