hazellend
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Post by hazellend on May 28, 2017 7:31:44 GMT
Interesting days for asset backed p2p.
Will this one require an extra incentive to get it over the line?
My gut feel
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hazellend
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Post by hazellend on May 28, 2017 7:32:31 GMT
Interesting days for asset backed p2p.
Will this one require an extra incentive to get it over the line?
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archie
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Post by archie on May 28, 2017 7:37:33 GMT
Interesting days for asset backed p2p. Will this one require an extra incentive to get it over the line? My gut feel Problem seems to be lack of funds so incentives would only help a bit. Even the 14% on Collateral isn't exactly flying.
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Post by settersam on May 28, 2017 8:21:17 GMT
Is there a risk that lenders won't renew their older loans with the aim of using the cash to invest in these newer ones? If so who will fund the non-renewed loan parts?
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archie
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Post by archie on May 28, 2017 8:39:58 GMT
Is there a risk that lenders won't renew their older loans with the aim of using the cash to invest in these newer ones? If so who will fund the non-renewed loan parts? There should be two loans repaid in the next two weeks which will certainly help. The transition to new agreement loans will be in batches so hopefully won't add too much to what's available at any one time. There is a risk people might not renew, not sure what will happen then. There was a fair bit of interest paid out today and lots more due on Tuesday and Wednesday. I like this loan so I'll buy what I can.
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Post by lendinglawyer on May 28, 2017 8:45:24 GMT
Is there a risk that lenders won't renew their older loans with the aim of using the cash to invest in these newer ones? If so who will fund the non-renewed loan parts? I assume MT must have brought underwriters in to finance the renewals because they have said anyone who doesn't opt in will be repaid in full, and so far as I know MT are not allowed to do it themselves. Maybe the SM will be closed while the underwriters exit their bits like on the recent Edinburgh loan. Edit: for balance I'd like to point out that this is a negative for MT vs Lendy where underwriters have to accept subordination on SM to selling investors. MT get a lot of praise, and rightly so, but it's only fair to point out the negatives where they exist.
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SteveT
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Post by SteveT on May 28, 2017 8:46:29 GMT
Is there a risk that lenders won't renew their older loans with the aim of using the cash to invest in these newer ones? If so who will fund the non-renewed loan parts? AIUI, the job of converting existing loans to the new T&Cs will be via a phased sequence of renewals. Presumably, the time it takes to get this done will be determined by the speed at which the renewals fill, possibly helped by some underwriting upfront so that existing loans can still be repaid when the renewals launch. Either way, I doubt there's a hard deadline by which MT have to finish the process (or one that couldn't be extended with FCA agreement). (crossed with the 2 posts above)
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Doc
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Post by Doc on May 28, 2017 10:40:15 GMT
Loan is filling very slowly for a 12% loan, not sure how easy it will be to resell should I need to, think I might stick the £3k in last weeks 12% loan in Plymouth instead.
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am
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Post by am on May 28, 2017 11:09:38 GMT
Loan is filling very slowly for a 12% loan, not sure how easy it will be to resell should I need to, think I might stick the £3k in last weeks 12% loan in Plymouth instead. The Plymouth loan is connected (same borrower), so there is reason to expect some correlation in demand for two loans. Come Tuesday, or whenever Bolton repays, we'll find out whether this loan is genuinely unpopular, or whether there is a technical reason for it being slow to fill. I didn't expect this loan to be hugely popular, but I did expect it to go faster than it has - 20% (£300,000) in 24 hours.
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elliotn
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Post by elliotn on May 28, 2017 11:10:57 GMT
Is there a risk that lenders won't renew their older loans with the aim of using the cash to invest in these newer ones? If so who will fund the non-renewed loan parts? I assume MT must have brought underwriters in to finance the renewals because they have said anyone who doesn't opt in will be repaid in full, and so far as I know MT are not allowed to do it themselves. Maybe the SM will be closed while the underwriters exit their bits like on the recent Edinburgh loan. Edit: for balance I'd like to point out that this is a negative for MT vs Lendy where underwriters have to accept subordination on SM to selling investors. MT get a lot of praise, and rightly so, but it's only fair to point out the negatives where they exist. I've asked MoneyThing repeatedly about the recognition and treatment of "private individual" sales on the MT "primary market". So far studiously ignored. Loans that are not renewed in the transition to new t&c will only throw this further in to the headlights. For me at least worth being acknowledged, our agent apparently thinks not.
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archie
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Post by archie on May 28, 2017 11:12:10 GMT
I've tried to invest more but I keep getting timeouts on processing. Edit : Just gone through
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 28, 2017 18:50:04 GMT
Note also that it's a Bank Holiday weekend, the weather is glorious, and the FA Cup Final is about to start . ozboy 's posts would indicate that there are some serious challengers for the FA Cup this year. Or have I misunderstood.... There are, ahem, many contenders for The FA Cup Final, and nearly all are Winners to varying degrees ..........................
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Post by p2ples on Jun 3, 2017 10:36:18 GMT
Loan is filling very slowly for a 12% loan, not sure how easy it will be to resell should I need to, think I might stick the £3k in last weeks 12% loan in Plymouth instead. The Plymouth loan is connected (same borrower), so there is reason to expect some correlation in demand for two loans. Come Tuesday, or whenever Bolton repays, we'll find out whether this loan is genuinely unpopular, or whether there is a technical reason for it being slow to fill. I didn't expect this loan to be hugely popular, but I did expect it to go faster than it has - 20% (£300,000) in 24 hours. The summary confirms that this is the same borrower as the Plymouth loan. However, Plymouth is on the SM today and the notes for that loan (updated on 19th May) quite correctly state 'there are currently no related loans. MoneyThing is however looking at a number of other development projects with the borrower which we may look to fund on the platform'. The point I make is that investors in SM loans will be unaware of newer related loans unless older summaries are updated when the same borrower takes out a subsequent loan.
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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
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Post by ilmoro on Jun 3, 2017 11:05:00 GMT
The Plymouth loan is connected (same borrower), so there is reason to expect some correlation in demand for two loans. Come Tuesday, or whenever Bolton repays, we'll find out whether this loan is genuinely unpopular, or whether there is a technical reason for it being slow to fill. I didn't expect this loan to be hugely popular, but I did expect it to go faster than it has - 20% (£300,000) in 24 hours. The summary confirms that this is the same borrower as the Plymouth loan. However, Plymouth is on the SM today and the notes for that loan (updated on 19th May) quite correctly state 'there are currently no related loans. MoneyThing is however looking at a number of other development projects with the borrower which we may look to fund on the platform'. The point I make is that investors in SM loans will be unaware of newer related loans unless older summaries are updated when the same borrower takes out a subsequent loan. Linked loans have the same prefix in the identifier so you dont need to read the spiel to know they are linked
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Post by p2ples on Jun 3, 2017 11:43:57 GMT
Thanks ilmoro - that makes life a lot easier!
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