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Post by mrclondon on Jul 18, 2019 19:24:58 GMT
Was the bond listed at the end? There is nothing on the NEX Exchange website that suggests it has, or is even imminent.
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coop
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Post by coop on Jul 19, 2019 11:15:00 GMT
Was the bond listed at the end? There is nothing on the NEX Exchange website that suggests it has, or is even imminent. Mum, I'm scared...
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micky
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Post by micky on Jul 19, 2019 12:44:14 GMT
Come on MoneyThing, time for an update.
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Post by Badly Drawn Stickman on Jul 19, 2019 12:46:06 GMT
There is nothing on the NEX Exchange website that suggests it has, or is even imminent. Mum, I'm scared... Looking at the steady drop in price on the SM, it's a common symptom. Taking an holistic view, I am content to let it play out. I do however think MT need to make every effort to get at least a partial repayment of the outstanding interest, my belief is that funds exist to do this.
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micky
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Post by micky on Jul 19, 2019 12:56:26 GMT
I would have been very happy to see the deal for the private lenders loan finalised.
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Post by Badly Drawn Stickman on Jul 19, 2019 13:07:17 GMT
I would have been very happy to see the deal for the private lenders loan finalised. Just for the sake of debate, lets assume a private loan was obtained (for far less than the MT loan) on the strength of the pending listing. Lets further assume for the sake of further debate, that money is being used to fund work on site as opposed to servicing the loan, would that be an entirely bad thing?
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Post by mrclondon on Jul 19, 2019 13:15:17 GMT
I would have been very happy to see the deal for the private lenders loan finalised. My fear is that this facility is conditional on the bond being listed ... i.e. its the provision of short term funding/liquidity whilst the bond is being funded.
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coop
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Post by coop on Jul 19, 2019 13:40:21 GMT
Looking at the steady drop in price on the SM, it's a common symptom. Taking an holistic view, I am content to let it play out. I do however think MT need to make every effort to get at least a partial repayment of the outstanding interest, my belief is that funds exist to do this. I used to think like that. On my braver days I still do. The entire point of secured lending, afaics, is that if it goes pear shaped you shouldn't be too concerned as long as the fundamentals of the loan were steady and the security secure and correctly valued. Through various p2p disasters (mostly not on MT it must be said) I now don't have the confidence to not get nervous about loans when they go non-performing/defaulted/etc. Which is a real shame as I really like P2P in principle but at the moment I just don't think the risk/reward on these loans is where it ought to be. I currently have about £600 in MT uninvested now. I might put some more in tick tock tranche A but I don't really see anything I particularly like the look of enough to keep investing at the moment.  Looks like my options are either piddly interest rates or just bite the bullet and pay off all my 0% cards and save myself some admin...
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Post by Badly Drawn Stickman on Jul 19, 2019 14:11:16 GMT
Looking at the steady drop in price on the SM, it's a common symptom. Taking an holistic view, I am content to let it play out. I do however think MT need to make every effort to get at least a partial repayment of the outstanding interest, my belief is that funds exist to do this. I used to think like that. On my braver days I still do. The entire point of secured lending, afaics, is that if it goes pear shaped you shouldn't be too concerned as long as the fundamentals of the loan were steady and the security secure and correctly valued. Through various p2p disasters (mostly not on MT it must be said) I now don't have the confidence to not get nervous about loans when they go non-performing/defaulted/etc. Which is a real shame as I really like P2P in principle but at the moment I just don't think the risk/reward on these loans is where it ought to be. I currently have about £600 in MT uninvested now. I might put some more in tick tock tranche A but I don't really see anything I particularly like the look of enough to keep investing at the moment. Looks like my options are either piddly interest rates or just bite the bullet and pay off all my 0% cards and save myself some admin... The holistic view does only relate to this loan, if I had more than 71p in my account I would probably buy at 97% (but would not consider adding funds). The only real concern I have with it, is that it is more valuable with the borrower, than it would be as a 'project for somebody else'. That makes it necessary to tolerate certain behavior that on a gold plated asset, would not be. More generally. Yeah its grim out there.
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averageguy
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Post by averageguy on Jul 19, 2019 14:23:25 GMT
Looking at the steady drop in price on the SM, it's a common symptom. Taking an holistic view, I am content to let it play out. I do however think MT need to make every effort to get at least a partial repayment of the outstanding interest, my belief is that funds exist to do this. One of the reasons why they should have persisted with the second charge ..the borrower might not have liked the extra costs involved but tough! It should be servicing it’s borrowings!
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agent69
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Post by agent69 on Jul 19, 2019 20:25:48 GMT
The holistic view is how long will MT survive after this and other debacles. Hopefully long enough to sort out Bolli
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mikeh
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Post by mikeh on Jul 19, 2019 21:14:33 GMT
Update on site along with lots of others including a crystallized loss.
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micky
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Post by micky on Jul 26, 2019 15:11:51 GMT
Don't you just love it  26/07/2019 Further to our last update, whilst there is nothing to report just yet, we should be able to do so early next week. |
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amwinv
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Post by amwinv on Jul 26, 2019 16:32:30 GMT
Well in fairness to MT... This is what people have been complaining for. Pointless holding updates.
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averageguy
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Post by averageguy on Jul 26, 2019 18:55:21 GMT
Don't you just love it 26/07/2019 Further to our last update, whilst there is nothing to report just yet, we should be able to do so early next week. I noticed you said it with a smile......I look forward to a more informative and hopefully positive update next week
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