archie
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Post by archie on Feb 24, 2018 9:07:01 GMT
AFAICS this is a good loan and a good rate so why is it not filling ? Has confidence in P2P gone in general ? If one of the defaults repaid I'm sure it would attract some of the funds. I'm short of available cash but have lent what I could.
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hazellend
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Post by hazellend on Feb 24, 2018 9:12:03 GMT
There are a relatively fixed number of P2P lenders and I wonder if as a group we are fairly fully invested. I think a few big repayments will see appetite pick up.
Also, maybe people are holding money back to maximise their ISA / SIPP allowances for the year
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r1200gs
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Post by r1200gs on Feb 24, 2018 9:39:56 GMT
There are a relatively fixed number of P2P lenders and I wonder if as a group we are fairly fully invested. I think a few big repayments will see appetite pick up. Also, maybe people are holding money back to maximise their ISA / SIPP allowances for the year I've simply become a very wary investor, and I'm sure I'm not alone. No shortage of funds, just that heading for four years of experience has lead to me being very careful and in need of much reassurance. I can't say anything about MT as I have little experience with them, but I have had platforms tell me lies and hide relevant information that has lead me to lose money, and a couple of such incidences tends to change your investment behaviour. All that said this looks to be a decent loan to me, though still going through it at the moment. Looking at investments made it mostly looks like pin money which is not really very reassuring. If the big boys tend to stay away, well.. Still, I'll get back in there and keep digging. :-)
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Post by SophieThing on Mar 1, 2018 11:44:12 GMT
Morning,
Update added to the platform.
Kind regards
Sophie
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sj
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Post by sj on Mar 1, 2018 12:06:29 GMT
Thanks for the update Sophie. If this loan is pulled, what will become of the first advance? Will this stay on MT or will it be redeemed with the new lender? If the former, will it rank ahead of the 2nd advance or would it be pari passu? I suspect I know the answers already but would just like confirmation, Thank you!
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treeman
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Post by treeman on Mar 1, 2018 12:08:49 GMT
Now we know another borrower reads the forum
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jcb208
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Post by jcb208 on Mar 1, 2018 12:13:55 GMT
I like this loan as well but already up to my limit on the first tranche so will not be investing further even with cashback.I cant see this being filled by Monday
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gb007
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Post by gb007 on Mar 1, 2018 12:14:06 GMT
A BH just put in £50k
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bramhall17
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Post by bramhall17 on Mar 1, 2018 12:15:54 GMT
Personally I still think that Moneything is one of the better platforms in terms of transparency and loan management. They seem to take the stewardship of investor money seriously and are pro-active in their approach. However, there is no hiding from the fact that defaults are now IMO significant. The problem with defaults no matter how well managed, is that they are always protracted and can result in capital lost, as well as the opportunity cost of interest lost. Therefore it is inevitable that investors will become more cautious --I certainly have.
In the property P2P sphere, it seems to me that where previously investors took comfort in asset backed security, this is now being called into question because the valuations on which the declared LTV are based (and marketed) sometimes seem unrealistic. I can see retail funds drying up unless there are some successful default resolutions in the next few months and that the P2P industry takes a more 'hard line' approach to valuations with investor security the paramount priority.
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Post by Badly Drawn Stickman on Mar 1, 2018 12:21:36 GMT
Morning, Update added to the platform. Kind regards Sophie I have the feeling I have seen this film before, yet somehow remember it being set in a sweet factory and not a Scottish field. From memory Braveheart will appear in the last scene, but have trouble opening his sporran so the final battle is postponed for a while. Not the worst loan in the World in my opinion, and I do have a modest sum invested. There is an element of wrong time wrong place for sure, but I am mildly indifferent to its ultimate fate. On a positive note, nice to get an email regarding the update.
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Post by SophieThing on Mar 1, 2018 12:39:20 GMT
Thanks for the update Sophie. If this loan is pulled, what will become of the first advance? Will this stay on MT or will it be redeemed with the new lender? If the former, will it rank ahead of the 2nd advance or would it be pari passu? I suspect I know the answers already but would just like confirmation, Thank you! Hi sj, Thanks for your comments. The first advance is secured by a first-charge (as any advances would be) and that will remain the case until the loan is redeemed. The borrower will have the option to take further funding from another provider, but unless they fully redeemed all loans, they would need to take a second-charge behind MT lenders. I assume that the borrower would seek to completely refinance, but that would be for them to determine the best course of action for their business. Kind regards Sophie
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hazellend
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Post by hazellend on Mar 1, 2018 13:16:01 GMT
I hope this loan gets funded. Unfortunately I don’t have funds to put in until the new tax year.
It’s almost there but Monday is a tight deadline
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Grezza
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Post by Grezza on Mar 1, 2018 13:19:48 GMT
I certainly would put a bit more in if it wasn't for funds tied up earning/not earning 18% in Birkenhead.
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archie
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Post by archie on Mar 1, 2018 13:27:46 GMT
I'm checking the back of the sofa.
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dovap
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Post by dovap on Mar 1, 2018 13:47:09 GMT
ah it's an old familiar tune - seems to be doing the trick just need the man in Switzerland and extended 'deadline' to get this away I guess
Weird though given the already short time for the exit by refinance and now the incredible increases in 'value' that this expensive option is being pursued by the borrower rather than the raft of other lenders waiting in the wings
Be much easier to fill even these shakier loans if the large amount in default was resolved satisfactorily. Live in hope I suppose
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