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Post by df on Nov 16, 2018 21:12:02 GMT
It will be interesting to see how much repaid money actually ends up in this loan. I'm not sure the wine money will be that good a clue, I suspect a fair amount of the investors who had been hoarding that would not by nature head for this type of loan with that money. More likely to sit on it in the hope of a more traditional pawn type offering. There is a sound logic to like for like assets with different cash piles. Newcastle may be a nearer match, but that is a while away yet. 8% of my wine money went to add to what I've already committed to relaunched C*********, which is not much, but every little helps. I like MT and borrower's message also appealed. The rest is withdrawn and going to warehouse to wait for new offerings. IIRC there is another posh car in pipeline.
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GeorgeT
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Post by GeorgeT on Nov 16, 2018 21:27:18 GMT
I'm afraid 16% + 1% cashback sends shivers down my spine in terms of risk.
I wonder if the rate can sometimes be too high and actually put investors off.
After a few losses I was rather hoping MT would bring forward some lower risk / lower rate offerings because my P2P experience has made me more risk-averse but I still like this platform and it scores highly with me on the trust chart.
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copacetic
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Post by copacetic on Nov 16, 2018 23:17:20 GMT
I'm afraid 16% + 1% cashback sends shivers down my spine in terms of risk. I wonder if the rate can sometimes be too high and actually put investors off. IMO no. Risk is determined by the quality of the security and also to some extent the publicly researchable history of the borrower. Rate is determined by the good people at MT or whatever platform a loan is listed on and is priced according to how they think the loan will fill, which in turn depends on a number of factors including the size of the loan, how risky us lenders perceive the loan, how fast the loan is filling and how much capital is available at the time (eg. less around Christmas and Jan when spending is high or card payments are due, or end of Jan/July when self assessment tax is due, more when another loan on the platform has just repaid or when p2p mania is in full swing as in a couple of years ago).
It's not the rate which puts me off, it's my admittedly limited sample size of 2 out of 2 100% losses in higher charge loans in p2p which keeps me from investing in tranche B. I did have a modest punt in tranche A though. Offer tranche B to me at a rate of 30% though and I might risk a bit in it.
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Post by mrclondon on Nov 21, 2018 12:08:56 GMT
Unsurprisingly the company under its current owners is under strike-off action presumably for the lack of accounts, the first Gazette notice to be published on 27th Nov. Hopefully the current lenders are sufficeintly awake to apply for a suspension of the strike-off.
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amwinv
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Post by amwinv on Nov 21, 2018 13:11:51 GMT
Unsurprisingly the company under its current owners is under strike-off action presumably for the lack of accounts, the first Gazette notice to be published on 27th Nov. Hopefully the current lenders are sufficeintly awake to apply for a suspension of the strike-off. Hmmmmm... What are they hiding? This loan might stand a better chance of filling if they would just submit them already?!?
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Post by eascogo on Nov 30, 2018 21:50:45 GMT
Wow! Over a week without a word about this large loan. The initial offer didn't fill but the loan was relaunched in a new format a couple of weeks ago. I can imagine that MT, the borrower, and many of those who already have pledged money in this loan are watching the progress with great interest. Over £1M is already pledged, another 525k is needed to cross the line.
MT will no doubt hope that their hard work pays off and the loan fills. The borrower has sent warm words to lenders and agreed to cover the interest while the loan is filling. Some lenders have committed substantial sums to that loan. I have seen a 20k punt in tranche B.
Comments on this forum have outlined the risk element of this loan. The risk however only comes about once the loan fills; if it doesn't the interest earned is a bonus with no risk incurred. What I wonder is the proportion of money pledged with the expectation that the loan might not fill?
I have watched the percentage gap between the two tranches narrowing over time, it is now nearly equal at just above 30% remaining available. I foresee some anxiety for those lenders that gamed the outcome (ie loan not filling). For MT and the borrower's sake I hope it will fill. For my part I have greatly exceeded a cautious allocation but will gratefully accept the cashback whilst hoping for a good ending.
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Post by Badly Drawn Stickman on Nov 30, 2018 23:11:51 GMT
Wow! Over a week without a word about this large loan. The initial offer didn't fill but the loan was relaunched in a new format a couple of weeks ago. I can imagine that MT, the borrower, and many of those who already have pledged money in this loan are watching the progress with great interest. Over £1M is already pledged, another 525k is needed to cross the line.
MT will no doubt hope that their hard work pays off and the loan fills. The borrower has sent warm words to lenders and agreed to cover the interest while the loan is filling. Some lenders have committed substantial sums to that loan. I have seen a 20k punt in tranche B.
Comments on this forum have outlined the risk element of this loan. The risk however only comes about once the loan fills; if it doesn't the interest earned is a bonus with no risk incurred. What I wonder is the proportion of money pledged with the expectation that the loan might not fill?
I have watched the percentage gap between the two tranches narrowing over time, it is now nearly equal at just above 30% remaining available. I foresee some anxiety for those lenders that gamed the outcome (ie loan not filling). For MT and the borrower's sake I hope it will fill. For my part I have greatly exceeded a cautious allocation but will gratefully accept the cashback whilst hoping for a good ending. I think you have summed it up fairly well, which is probably why its not getting much attention. Personally I invested in expectation of it filling so the amount of investment reflected what I felt was my comfort level in that case, and wont be adding to that. I suspect that is the case for many others (apart from those you probably quite rightly suggested were speculating on the loan not filling, who are unlikely to risk adding and moving it over the finish line), the question that poses is where is the balance of the funds going to come from? It is still moving, so who knows.
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SteveT
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Post by SteveT on Dec 3, 2018 14:55:21 GMT
Some big chunks of Tranche B must recently have been taken, now just 18% remaining (£72k)
Tranche A steadily decreasing too, less than 1/3rd to go (£388k).
Seems increasingly likely this loan will fill in due course.
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picnicman
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Post by picnicman on Dec 3, 2018 17:10:09 GMT
Some big chunks of Tranche B must recently have been taken, now just 18% remaining (£72k) Tranche A steadily decreasing too, less than 1/3rd to go (£388k). Seems increasingly likely this loan will fill in due course. SteveT - come on be honest, you have been hoovering down the back of the sofa again have you not!! Cheers P
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SteveT
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Post by SteveT on Dec 3, 2018 17:19:18 GMT
Some big chunks of Tranche B must recently have been taken, now just 18% remaining (£72k) Tranche A steadily decreasing too, less than 1/3rd to go (£388k). Seems increasingly likely this loan will fill in due course. SteveT - come on be honest, you have been hoovering down the back of the sofa again have you not!! Cheers P Actually no, tranche B is rather too racy for my tastes. But I admit to preferring the new dual-tranche structure to the original large single tranche, and the lower LTV this affords to my tranche A stake. Hoping to receive some cashback soon! 🙂
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coop
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Post by coop on Dec 3, 2018 18:14:15 GMT
SteveT - come on be honest, you have been hoovering down the back of the sofa again have you not!! Cheers P Actually no, tranche B is rather too racy for my tastes. But I admit to preferring the new dual-tranche structure to the original large single tranche, and the lower LTV this affords to my tranche A stake. Hoping to receive some cashback soon! 🙂 i put about 7 quid from an interest payment into B to roll the dice... too risky for me to put more than a trifling amount in. However with the new lower risk tranche A i might be tempted to put in a larger amount if i have a repayment. for what its worth i think its a good model
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Post by eascogo on Dec 3, 2018 18:18:58 GMT
Tranche A needs another 386k to fill. It progressed at a snail's pace over the last week. In contrast tranche B advanced rapidly over the same period with only 69k left to fill. As I said in an earlier post my hunch is that B includes a high proportion of chancers hoping that A will not fill so earning a high interest without risk.
The borrower has agreed to pay the interest whilst the loan fills but this is now costing over 3k/wk in interest. It's a lot of money to pay for an uncertain outcome. Now how likely is it that the self-storage (308k) or the Res Pk Devt (1560k) will repay shortly? Or, looking a couple of weeks further ahead, could the Hol Park (2636k) and/or the AE loans (600k) repay before the year end? It seems to me that the fate of this loan hangs in the balance and depends on a few substantial repayments.
I have a substantial 5 digits in tranche A but feels reasonably confident this is a good place to be should the loan fills. If I had the same amount in B I would rest uneasily.
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elliotn
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Post by elliotn on Dec 4, 2018 14:57:04 GMT
Some big chunks of Tranche B must recently have been taken, now just 18% remaining (£72k) Tranche A steadily decreasing too, less than 1/3rd to go (£388k). Seems increasingly likely this loan will fill in due course. Still quite a big ask imo, >0.4M after being open already for a month or two - any more multi- million repayments in the offing? Edit - crossed with eascago noting A's escagot pace & possible repayments into next year.
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cwah
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Post by cwah on Dec 6, 2018 1:10:10 GMT
I'm think it will fill... Just very slowly. Many of FS big loans took forever to fill. Some took up to 3 months.
For the chancer it would be a wrong bet!
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Post by ladywhitenap on Dec 6, 2018 10:28:44 GMT
Shame we can't publish the borrowers name lol We could then say that this loan is not going like "C****W***" LW
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