upperdeane
Member of DD Central
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Post by upperdeane on Dec 12, 2023 11:55:38 GMT
Sadly mixed feelings. Good to get a few quid back today of my initial investment, but sad to see so much of the investment vanish. I guess a little is better than nothing.
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duck
Member of DD Central
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Post by duck on Dec 12, 2023 12:15:08 GMT
Money now showing in accounts ready for withdrawal.
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Post by ndblog on Dec 12, 2023 12:34:30 GMT
Will there be more?
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dh1
Member of DD Central
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Post by dh1 on Dec 12, 2023 12:56:48 GMT
ndblog - probably yes but reading the statement - which is both clear and expensive for lenders - not that much.
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Post by bracknellboy on Dec 12, 2023 12:58:31 GMT
another > £500 loss.
Still, at least I have in my head, and spreadsheets, written off all my P2P investments (bar a little with AC) some time back. That at least makes it a more sane headspace.
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huxs
Member of DD Central
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Post by huxs on Dec 12, 2023 13:03:53 GMT
Sickening that Money thing takes 390k in fees for such a terrible loan !!
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toffeeboy
Member of DD Central
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Post by toffeeboy on Dec 12, 2023 13:42:56 GMT
another > £500 loss. Still, at least I have in my head, and spreadsheets, written off all my P2P investments (bar a little with AC) some time back. That at least makes it a more sane headspace. I feel the same until things like this happen. Once again everyone else getting rich off of our money. What are the chances of ever seeing a breakdown of what was received and how that money was distributed, £550,000 returned to investors on a building valued at £4 million less than 6 years ago leaves a lot of money unaccounted for.
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tony9239
Member of DD Central
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Post by tony9239 on Dec 12, 2023 17:05:31 GMT
Sickening that Money thing takes 390k in fees for such a terrible loan !! The security was sold for £1.733m, about 69% of the oruginal £2.5m loan. But by the time all the recovery costs, fees, disbursements & provisions are taken out, we're left with just £556k (which is only 32% of the amount it was sold for). When I'm re-incarnated I think I'll come back as a Receiver/Administrator/Liquidator!
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Post by captainconfident on Dec 12, 2023 18:02:46 GMT
Damn I misunderstood, an LTV of 75% actually meant Loss to Value. Oh the lessons I've learned from P2P.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
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Post by ilmoro on Dec 12, 2023 18:11:19 GMT
another > £500 loss. Still, at least I have in my head, and spreadsheets, written off all my P2P investments (bar a little with AC) some time back. That at least makes it a more sane headspace. I feel the same until things like this happen. Once again everyone else getting rich off of our money. What are the chances of ever seeing a breakdown of what was received and how that money was distributed, £550,000 returned to investors on a building valued at £4 million less than 6 years ago leaves a lot of money unaccounted for. You mean breakdown other than the one provided?
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Post by maxm2023 on Dec 12, 2023 18:50:25 GMT
Does anyone have any idea how long it will take the money to be sent out to our accounts? Moneything always seem to take a few days at the best of times
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dh1
Member of DD Central
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Post by dh1 on Dec 12, 2023 18:59:08 GMT
maxm2023 - should be a few days, I think.
On a general note (ie not related to when the money will turn up) people who are interested should really have a read of the document provided. This particular one is especially clear, providing a quick and accurate - if distasteful - picture.
This picture allows you to be specific about questions you want answered, which is helpful for everyone.
That doesn't mean I like what I read in the document; clearly, I am paying rather handsomely for Moorfields Christmas celebrations which I don't like at all. And not just because they haven't invited me...
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averageguy
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Post by averageguy on Dec 12, 2023 22:08:09 GMT
Sigh…..nice to see the pittance distributed….annoyance that I’d forgotten to update my bank details with MT ..what a tit
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Post by captainconfident on Dec 12, 2023 23:45:31 GMT
Well at least I've got all you guys to share the feeling of being mugged with. I really feel that we should all go to a nice pub together and share the gloom. But nobody can afford to get a round in anymore. Thanks, Moneything, I guess you're not buying.
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Post by overthehill on Dec 13, 2023 9:26:15 GMT
Well at least I've got all you guys to share the feeling of being mugged with. I really feel that we should all go to a nice pub together and share the gloom. But nobody can afford to get a round in anymore. Thanks, Moneything, I guess you're not buying.
If any administrator doesn't produce a detailed costs report of where the money went or how the value disappeared then you know it's fraud.
This company has never been mentioned on 4thway so no transparency and the location (not the only one) is somewhere I stopped P2P investing in years ago.
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