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Post by df on May 31, 2019 13:47:28 GMT
Do the loans each have a debenture against the company in addition to the security of the assigned pawn, and is the company prohibited from taking out additional loans against the 'repaid stock'? I don't think so. They are straight forward group asset pawn loans.
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Post by trentenders on May 31, 2019 14:06:21 GMT
So not amortising for lenders then.
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cwah
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Post by cwah on May 31, 2019 14:19:23 GMT
So MT get paid back capital + interest but only pay back interest to lenders?
What happens to the capital returned?
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archie
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Post by archie on May 31, 2019 14:33:49 GMT
So MT get paid back capital + interest but only pay back interest to lenders? No. Every 3 months another tranche repays so the total debt reduces.
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ptr120
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Post by ptr120 on May 31, 2019 15:09:55 GMT
lots of tasty stuff there i haven't seen in ages... The sweet can turn sour.
How many believe that these loans pawn loans will actually ever pay back the capital?
Well the tranch due to repay tomorrow won't be paying back on time (although interest will be serviced on time). We are expected to receive capital on Tuesday next week and I believe this is the first time this has happened with this borrower.
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amwinv
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Post by amwinv on May 31, 2019 15:44:31 GMT
Not the best week for them to suddenly be having cash flow issues. MT lenders seem to be having a bit of a crisis of confidence at the mo.
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pickles
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Post by pickles on Jun 1, 2019 16:30:46 GMT
What's on the SM? Almost everything! The only thing *not* on the SM now is the Scottish pubs!
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Nomad
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Post by Nomad on Jun 1, 2019 17:21:28 GMT
What's on the SM? Almost everything! The only thing *not* on the SM now is the Scottish pubs! The day I signed up for MT in May 2017 the SM was totally empty.
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Post by df on Jun 1, 2019 17:40:13 GMT
So not amortising for lenders then. Technically not, but the loan was split into small segments with different terms so that the capital is continuously repaid. iirc originally it was one loan, later restructured in this way.
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hazellend
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Post by hazellend on Jun 1, 2019 18:09:39 GMT
I’ve just done a bank transfer into my MT account. Do they process them over the weekend?
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Post by eascogo on Jun 1, 2019 18:31:38 GMT
I’ve just done a bank transfer into my MT account. Do they process them over the weekend? Would expect they probably will process payments later on today. If not tomorrow morning. MT used to have an unusually rapid response time (often minutes) even out of office hours. Response time is now more relaxed but still better than P2P average I guess.
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star dust
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Post by star dust on Jun 1, 2019 18:37:57 GMT
I’ve just done a bank transfer into my MT account. Do they process them over the weekend? They always used to but I'm not so sure anymore. I've been waiting all afternoon for a withdrawal and still nothing and IIRC it's not the first weekend recently that I've had to wait until Monday for the withdrawal to be actioned. Maybe they'll be more accommodating to deposits though
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liso
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Post by liso on Jun 1, 2019 18:47:21 GMT
I’ve just done a bank transfer into my MT account. Do they process them over the weekend? They always used to but I'm not so sure anymore. I've been waiting all afternoon for a withdrawal and still nothing and IIRC it's not the first weekend recently that I've had to wait until Monday for the withdrawal to be actioned. Maybe they'll be more accommodating to deposits though Nope. I did a bank transfer this morning. Still not credited.... ...and 10 minutes after I typed, MT confirmed deposit!
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hazellend
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Post by hazellend on Jun 1, 2019 19:50:45 GMT
They must have been reading this. Transfer went through.
I took a large chunk of Liverpool, I have confidence in the loan being repaid and got a large discount.
Sentiment in P2P is rock bottom at the moment.
Hopefully MT will provide some reassurance as to the stability of the platform
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star dust
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Post by star dust on Jun 1, 2019 20:29:54 GMT
Well, glad it all worked out for your deposits My suggestion they'd favour deposits was somewhat tongue in cheek, but my withdrawal from early afternoon still hasn't been processed . Maybe if MoneyThing have changed the withdrawal process or timescales they should inform investors, I hope this isn't because I still haven't signed the new new t&cs? I would've waited until Monday to sell some loan parts if I'd known.
In Edit: Funds hit my bank account Sunday afternoon - so sort of working at the weekend.
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