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Post by Duane Dibley on Mar 14, 2015 10:37:49 GMT
Could you send me some examples of glib answers? There's a few cases where answers to what, in my opinion at least, are perfectly reasonable questions are prefaced by 'Of course'. The questions may appear to be basic to the person answering the query, but the only way people know what happens when a loan goes into default or is renewed is by asking such questions, there's nothing on the website to indicate what the procedure is. I'm sure the person answering the question doesn't mean to be patronising or condescending but I'm afraid that's how it can come across. Of course it could just be a simple turn of phrase that this person is in the habit of using and of course there's a tendency these days to treat everything online like a conversation down the pub, but of course I'm a bit old fashioned and would of course prefer people to put a bit more thought into what they write and the language they use.
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Post by Duane Dibley on Mar 5, 2015 20:28:46 GMT
For this reason, if FS are continuing with property going forward, then I now feel a secondary market is needed. I agree with you Rose about FS property loans and a secondary market. If I was investing in their property loans then I too would want a secondary market. But I'm not so I don't. I prefer my loans to me in something more blingy and shiny. And like you I won't be investing in the property loans until they build up more of a track record and we see how they deal with defaults and other issues. However I do think that those people who are wanting a secondary market as a means of diversifying will be in for a bit of a let down. I can see a situation where the only loans available will be the very ones that they are trying to diversify out of, the larger property loans coming to the end of term, and on the off chance that any smaller non-property loans do come available they'll be gobbled up instantaneously by the ravenous pack, simply leading to frustration and disappointment. So no a secondary market isn't something that interests me at this moment in time but never say never.
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Post by Duane Dibley on Mar 3, 2015 21:34:52 GMT
Needless to say missed out again.
To give less than an hours notice by email and then to put all the loans up at once so that only a select few can pile in to them all, rather than spacing them out through the day, seems a tad unfair to my rather simplistic way of thinking.
Shame really because I did have high hopes of MoneyThing when they first started but unfortunately it seems to have been devoured by the p2p massive leaving only meagre scraps for us stragglers.
Guess I'll be taking my money back out and finding another hidey-hole for it.
Anyone know if that Ablrate plane has taken off yet?
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Post by Duane Dibley on Mar 2, 2015 21:59:29 GMT
Well well well that wasn't very successful was it, at least not for me.
There was I having deposited some money last week fully expecting to be able to snaffle up some shiny golden trinkets this evening.
Ha ha ha you silly old fool Caratacus, no chance. Absolutely no chance.
In my opinion, and ever so humble it is, an email an hour or two before loans go live really only suits those people who sit in front of a computer screen all day, those of us who work, look after family or simply have a life need a bit more notice.
Ideally, 24 hours notice would give us all time to deposit funds, make a nice pot of tea and plonk ourselves down in front of the pc with our finger hovering over the refresh button while we watch some greedy sod nick it all in front of our eyes. But then at least we'd have the nice cosy feeling of being involved, whereas now I feel it's all passed me by in a bit of a blur.
I fully appreciate you can't please all the people all the time but I hopefully a little bit of tinkering around limits and loan availability will at least produce a compromise that will please a few more people a bit more of the time.
Alternatively just post the loans up at random times throughout the day without any limits or notice to give us all that frission of excitement every time we log in.
Just think, next time it could be you.
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Post by Duane Dibley on Mar 2, 2015 8:08:36 GMT
I'm similarly surprised by the "overwhelming view" that a secondary market "would not be a major benefit". I'm one of those who don't see any need for a secondary market. The loans on FS are in general all short term loans for six months and only have small investment limits anyway. If someone really needs to access that money within the six months then I'd suggest p2p lending wasn't really suitable and they'd be better off with bank deposits or sticking their money under the mattress. The only reason I can see for a secondary market is to divest possibly defaulting loans a few days before maturity as a means of risk removal. That's a tactic I used with all the Saving Stream boat loans and there was never a shortage of people willing to buy. Either they didn't know what they were doing or were desperate to get their hands on loan parts even for two or three days.
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MoneyThing (MT) in Administration
Web suggestions
Feb 26, 2015 22:06:18 GMT
Post by Duane Dibley on Feb 26, 2015 22:06:18 GMT
From the homepage on the website, you can either click on the button 'Loans' which will take you to the loans page, however if you click on the button 'My Account' then you go straight to your account details. We have actually received feedback from users, some of which wanted to see the loans first and some their account position which is why we put both options there to try and cater for everyone. (Originally there was 'Login' or 'Register). That sounds even more convoluted I'm afraid, I'm even less inclined to go to the homepage than I am the loan page when I first log in. Maybe it's me that's doing something wrong. Thanks anyway Ed.
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MoneyThing (MT) in Administration
Web suggestions
Feb 26, 2015 21:11:58 GMT
Post by Duane Dibley on Feb 26, 2015 21:11:58 GMT
I don't know if it's just me, but whenever I log in I'm directed to the loans page rather than my account page.
It's like when you log in to your internet banking and you're faced with adverts for their great new deals on pet insurance rather than what dosh you've actually got in your account - it's tacky and annoying.
It would make more sense, to me at least, when first logging on to find out how much money you've got in your account rather than seeing what the latest trinkets and baubles on offer are.
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Post by Duane Dibley on Feb 26, 2015 20:46:41 GMT
I doubt if many existing investors will be renewing their loans given the default on the other loan.
However I don't think FS will have much difficulty filling the loan, new investors have been piling in left, right and centre recently, mesmerized by the headline rate and apparently caring little for the underlining security of the loans.
Will be glad to be out of this one.
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Post by Duane Dibley on Feb 22, 2015 13:23:48 GMT
mikes1531 is correct in that the LTV (based upon valuation at drawdown and capital outstanding) is just north of 70%. Are you posting direct from south-side Detroit or by 'north of' do you mean 'higher than'?
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MoneyThing (MT) in Administration
Web suggestions
Feb 16, 2015 17:55:34 GMT
Post by Duane Dibley on Feb 16, 2015 17:55:34 GMT
Loans sortable by LTV, End Date, Amount Available etc.
Also a further column with the date the loan was made available.
Thanks.
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Post by Duane Dibley on Feb 11, 2015 11:38:41 GMT
I missed out on the drawdown of #150 due to having funds used up elsewhere and since then I've only racked up £5.87, so yes if I can ring fence funds for use at drawdown it would be useful. Have you checked your settings? There's been a fair bit gone on to the market over the last couple of days.
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Post by Duane Dibley on Feb 11, 2015 11:34:26 GMT
Horses for courses. Risk and reward.
Personally I'm quite happy with the existing security on those loans, but if you're the type of person who always wears a belt with your braces just in case, then they'll be more up your street.
Not for me though.
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Post by Duane Dibley on Feb 2, 2015 18:45:39 GMT
Sufferin' succotash, missed out on both of today's loans yet again.
Still, managed to get my full £25 on someone's old diamond ring thanks to FundingSecure - happy days indeed.
Be nice if Saving Stream could take a leaf out of FS's book and inform us prior to loans being made available, especially as I had a few bob looking for a nice home courtesy of some AC early repayments.
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Post by Duane Dibley on Feb 1, 2015 15:59:56 GMT
Lets hope the new month brings good news for us all I don't see the problem personally, the longer the better for me, less chance of default. And if it doesn't drawdown at all, well that's just money for nothing.
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Post by Duane Dibley on Dec 13, 2014 19:27:16 GMT
For those not in the know, the loan in question is #143 Wind Turbine Portfolio.
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