ali
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Post by ali on Jan 17, 2017 16:21:19 GMT
Slightly puzzled that people are sticking this on the SM, presumably they are foregoing 2+ weeks free interest. OK it will repay and the money be idle but as it would already have earnt to cover the dormant period thats not really a factor, especially as here should be a new Bradford loan launching any day (hint MoneyThing )to soak it up or am I missing something? I'm a bit confused too. Still, I've filled my boots so I'm not complaining
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ali
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Post by ali on Jan 12, 2017 19:27:19 GMT
MoneyThing - Ed, whilst your "IMMINENT REPAYMENT" notice on MTAG563 is commendable (as usual ) it seems to have got missed off of MTAG575 - not that there's any for sale like . Thanks - now added. I must admit that I imagined that a number of lenders would sell down their holdings to move over with it to the dark side other lender, hence the 'Imminent Repayment' addition. I am hopeful for everyone that the other Bradford loan will be going live on Monday/Tuesday so that there is something available upon repayment. Regards, Ed MTAG575 in particular is well worth holding. 14% and guaranteed interest until 14/2/17. What's not to like?
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ali
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Post by ali on Jan 7, 2017 21:20:25 GMT
Thank you for the replies It was entry number 77 on the update from Wednesdays 04/01. W... hotel development. Ah. bengilbert is your man in that case.
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ali
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Post by ali on Jan 7, 2017 20:32:06 GMT
According to the update published on Wednesday there should have been a loan be oming available today or have I dreamt it up? If there was how come I do not see any trace of it on moneything website and no discussion on here either about it ? New to the site , trying to get used to it. You might have been thinking of pipeline #73 (M********* R***) which Thin Cats (who were sharing the loan with MT) were expecting to drawdown on 6th which would normally mean that MT would list the loan today. However, Ed said in his latest update that it was due to launch middle of next week (and I see that the Thin Cats loan hasn't drawn down either despite being fully funded).
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ali
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Post by ali on Jan 5, 2017 15:25:57 GMT
£1,000 certainly gets lent out in £10 loans. still interested in what rate peops are actually achieving in +. Seems no one knows? I started mid-July and currently have a cash yield of 8.17%. Since my loans only started to default in December (because of how long it takes for Zopa to decide that a loan is in default), I would expect this yield to continue to drop as the months go by. I define cash yield as including cash waiting to be lent and valuing each loan as it's principal (ie., ignoring both the accrued interest and the probability of default).
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ali
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Post by ali on Dec 30, 2016 20:54:15 GMT
Thanks all for response - but still don't see how '000s went in no time, apparently almost all at 09:15 rather than 4pm as advertised? As archie said, the transactions at 09:15 were the roll-overs. There was only £3 that wasn't rolled over (because presumably only one person with a very small holding decided not to renew). The number of people deciding to renew on MT is typically high, but this loan had an extremely high roll-over rate.
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ali
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Post by ali on Dec 30, 2016 16:35:31 GMT
I'm new to MT and and share others' frustration any lack of available loans. I was hoping to get a small slice of MTAD617 and logged on at precisely 4pm but nothing left. Is it because it was a renewal? I noticed lots of transactions at 9:15 today when bidding was supposed to start of 4pm - only 1 transaction showing at that time for a fabulous £3 slice of the action? I've sadly withdrawn some money as I can't see how I can invest it other than £3 at a time based on Fastest Finger First. Am I missing something? Yes, and an extremely popular renewal at that. There are three loans that I am aware of that MoneyThing are hoping will turn up "soon" including a loan for £475,000 at 11% and 50% LTV which is expected to drawdown on the 6th Jan and thus be available to bid on from the 7th.
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ali
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Post by ali on Dec 30, 2016 16:22:22 GMT
I'll give £10 to the person who manages to bag this! How do I claim my prize haha? If you got the £1, then you must also have got the other £2 so I reckon you already have your prize
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ali
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Post by ali on Dec 28, 2016 11:16:17 GMT
Looking at the local council's website, it looks like the planning permission was rejected on 23/11/2016. Interesting that the recent update from SS does not mention this. Presumably you're talking about PP-05505501, but that is for Nos. 39-41 which isn't our security. I haven't been able to find a PP application for this loan to date.
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ali
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Post by ali on Dec 28, 2016 9:49:03 GMT
Apologies if this has been answered elsewhere, but if so I can't find it. I believe it is calculated on loan purchase as rate*loan-part*days-to-term/365 and then the actual interest paid each month is deducted. There is also an adjustment on (partial) sale of a loan part.
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ali
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MoneyThing (MT) in Administration
MTAG306/MTAG601
Dec 16, 2016 16:14:04 GMT
Post by ali on Dec 16, 2016 16:14:04 GMT
Can we have a bit of a discussion and openness on MT policy on loan extensions please? This loan was maturing in a few days and now is to be extended by another 3 months. Not a problem in principle but Existing lenders who may well have worked up a reasonable holding in MTAG306 will be unceremoniously repaid and have to re-bid on the extension Furthermore the bid limit is set at £50 a minute percentage of the £180k available. 0.028% !! Why are existing lenders not being offered a rollover option which I think has traditionally been the method for renewing loans in most cases and the balance re-offered? What are the Things trying to tell loyal lenders by doing this? If MT have a new policy then please be open about it so we all know you attitude to existing lenders. Just to state that I'm not in this particular loan as I missed the boat 12 months ago but I'd be mighty fed up if I was! LW I think you might be confused. MTAG306/MTAG601 is a renewal. MTAD503/MTAD606 is a repayment followed by a new loan.
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ali
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Post by ali on Dec 16, 2016 14:15:01 GMT
Afternoon, Just to let you know that MTAG503 (£10,000 against a 1964 Ford Mustang), will be ending on Monday and will be replaced by a new loan of the same value secured against two new cars which we will announce shortly (1999 Alfa Romeo Spider & 1974 MGB Roaster). Kind regards, Ed Presumably you mean MTA D503. Will our existing parts in this loan carry through into the new loan or will it count as a new loan from that point of view?
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ali
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Post by ali on Dec 14, 2016 22:15:12 GMT
I'm still struggling to understand how to verify this? rics.org doesn't allow a search by number and doing it by postcode doesn't yield a match. Would someone be kind enough to tell me how to do this? FInd a random surveyor on the rics website. Replace their membership number with the one provided by FS. Be amazed at the vast amount of information displayed.
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ali
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MoneyThing (MT) in Administration
BPF600
Dec 14, 2016 13:41:37 GMT
Post by ali on Dec 14, 2016 13:41:37 GMT
Good afternoon oh wise and learned ones! I'm probably being overly cautious here, so please forgive a foolish man asking a potentially foolish question..... Is there anything wrong with this, the 6th drawdown, on the MHD loan? I'm prompted to ask as it is practically the only available opportunity on the MT platform and yet there has been no mention of it here (that I can find), which I find... erm... slightly strange. On one hand I'm reassured by: - The lack of negative coverage on any of the other drawdowns
- The positive updates from - and engagement of - the BPF rep
- The complete absence of anything on the SM for any existing MHD drawdowns or BPF's other loans
- A general air of content with MT on this forum
- The willingness to engage and liaise with this forum by the MT rep(s)
(Incidentally, as a p2p novice, these last two criteria have been fundamental when choosing which platform I have invested through.)
On the other hand, I find it slightly strange that there's still availability after 5/6 days given the paucity of quality loans here and elsewhere.
So anything to be concerned about? Or is it a case of: "This is business as usual for an MHD drawdown / BPF loan, nothing to get excited about, just click the 'Invest now' button and relax. (And be quick about it, 'cos that availability won't last for long!)"
Many thanks, Ian..
I make the total available to lend on this to be: Drawdown
| Amount | 1st
| 1,300,000
| 2nd
| 297,700 | 3rd | 279,000 | 4th | 342,000 | 5th | 932,000 | 6th | 658,600
| Lent
| 3,809,300
| BroakOak
| 190,465
| Available
| 3,618,835
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There are currently 2469 members of MT so that means the average take up would need to be £1,466 per person before it all goes. Frankly I'm surprised it's going as quick as it is. Shows that lenders have considerable confidence in MT and Broadoak.
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ali
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MoneyThing (MT) in Administration
MTAI 582/3
Dec 13, 2016 18:03:52 GMT
Post by ali on Dec 13, 2016 18:03:52 GMT
Acknowledged. I appreciate that this has gone on far too long (and I have probably run out of any further language to be able to legitimately extend this any further anyway). Thank you for your patience, both myself & the borrower are both frustrated & embarrassed that is has gone on this long and I hope that the 18% interest has gone some way to alleviate this. I am absolutely confident that the refinance is about to happen and although the latest is that it will be within 72hrs, I wouldn't expect lenders to believe this after all this time. As such, if the loan is not refinanced by close of business on Friday (16th), MoneyThing will commit to repay lenders back on the 17th and we will hold the loan until it repays in order to give lenders some certainty. Kind regards, Ed My worry would be that if for any reason it drags on even longer than expected, if MoneyThing were to buy back the loans, this might tie up MT's float, and put a crimp in floating new loans. A possible compromise would be to commit to buy any parts present on the secondary market a particular time of day (and hold them on a first loss basis?) (Buying at a fixed time, rather than continuously, allows other people to pick up parts on the SM, and reduces the pressure on MT's float.) In this case I'd also prefer to see an update explaining why the continuing delays are occurring, to give me data on which to base a decision to sell or hold. But I recognise that commercial confidentiality might preclude this. To my mind, there is clearly lender demand (otherwise we would see much more of these loans on the SM) so I don't see any need to do anything (except to save Ed's blushes). If if got to the stage that there was a significant amount on the SM which wasn't selling, then there might well be some mileage in MT saying "We'll buy back any surplus on the SM in 24 hours" (a little like BO do with the PM). I don't think it will happen. There have been odd bits and pieces of MTAI583 on the SM over the past week or so which were picked up in minutes and I don't think I've seen any MTAI582 at all. Updates are always good, but Ed has already said that the problem is with the new lender.
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