jcm9000
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Post by jcm9000 on Nov 22, 2017 1:21:56 GMT
Suppose defaulting is better than letting the date slide for months on end. Expecting a good result, although with recent repayments (yay) but nowhere on mt to put them (boo) it seems my default value is now 20pct of my entire mt holdings. That makes me a tad more thoughtful about my loan limits...
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Post by eascogo on Nov 22, 2017 1:33:00 GMT
Plymouth 2 repaid. Is this a prelude to default? No, Plymouth2 hasn't repaid. There was some temporary (panic) availability of about £40k iirc but was quickly bought off. Edit. SM now nearly back to zero.
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southport
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Post by southport on Nov 22, 2017 1:36:38 GMT
Plymouth 2 repaid. Is this a prelude to default? No, Plymouth2 hasn't repaid. There was some temporary (panic) availability of about £40k iirc but was quickly bought off. Edit. SM now nearly back to zero. Yes I see that now. I deleted my post at the same time as you replied to it....
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dermot
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Post by dermot on Nov 22, 2017 1:57:58 GMT
My account showed all the capital and interest repaid to me, but now, of course, that has been reversed by repurchasing the lot.
I wonder what would have happened if I'd withdrawn that few thousand in the intervening time?
At least this one looks hopeful for full recovery - good, since it represents over 10% of my total MT holdings, as I was lulled into a false sense of security by recent glowing updates.
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dermot
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Post by dermot on Nov 22, 2017 2:04:02 GMT
But, I suppose, 14% .....
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Post by geraldine1210 on Nov 22, 2017 2:45:13 GMT
My account showed all the capital and interest repaid to me, but now, of course, that has been reversed by repurchasing the lot. I wonder what would have happened if I'd withdrawn that few thousand in the intervening time? At least this one looks hopeful for full recovery - good, since it represents over 10% of my total MT holdings, as I was lulled into a false sense of security by recent glowing updates. I don't think Ed allows the withdrawal to go through in that case.
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Post by Deleted on Nov 22, 2017 3:04:32 GMT
My account showed all the capital and interest repaid to me, but now, of course, that has been reversed by repurchasing the lot. I wonder what would have happened if I'd withdrawn that few thousand in the intervening time? You would not have been able to. The withdrawal functionality is suspended during the process (after people tried exactly what you said when they performed the same process on a loan during daytime rather than overnight)
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keith
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Post by keith on Nov 22, 2017 3:26:31 GMT
Yet another one goes bad. At least this one seems to be purely some sort of grace period due to overruns. I have some faith that MT will be on this positively and not let it drift into a “real” default like some other platforms.
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dermot
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Post by dermot on Nov 22, 2017 3:31:43 GMT
Yet another one goes bad. At least this one seems to be purely some sort of grace period due to overruns. I have some faith that MT will be on this positively and not let it drift into a “real” default like some other platforms. One can only hope. I wonder if there will be a part repayment if not all the contracts are exchanged in time?
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johni
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Post by johni on Nov 22, 2017 7:21:06 GMT
Yet another one goes bad. At least this one seems to be purely some sort of grace period due to overruns. I have some faith that MT will be on this positively and not let it drift into a “real” default like some other platforms. One can only hope. I wonder if there will be a part repayment if not all the contracts are exchanged in time? What happened to the foreign buyer?
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carolus
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Post by carolus on Nov 22, 2017 7:31:31 GMT
Was there an email about this that hasn't made its way to me, or has there not been one yet?
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archie
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Post by archie on Nov 22, 2017 7:31:49 GMT
One can only hope. I wonder if there will be a part repayment if not all the contracts are exchanged in time? What happened to the foreign buyer? I would imagine the boiler issues would prevent the sale of either block until they are completed.
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archie
Posts: 1,854
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Post by archie on Nov 22, 2017 7:33:47 GMT
Was there an email about this that hasn't made its way to me, or has there not been one yet? I haven't seen one. I didn't get the 'Paid' email for BPF751 that some lenders received either.
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elliotn
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Post by elliotn on Nov 22, 2017 7:35:36 GMT
Plymouth 2 repaid. Is this a prelude to default? No, Plymouth2 hasn't repaid. There was some temporary (panic) availability of about £40k iirc but was quickly bought off. Edit. SM now nearly back to zero. Why “panic” instead of, say, “measured selling based on latest information”? This borrower was picked up in mixed circumstances, has been late on development, late on accounting, kept the true state of affairs from the platform and so on. In light of this latest data I trimmed Bolly due to complete in a couple of months and left the delayed 2nd student development untouched. Never panicked once whilst doing so. Disclaimer: I am looking to increase my holding in the 2nd student studios but sold out of the 1st one after previous delays; my overall borrower exposure will be neutral/to slight increase.
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nd
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Post by nd on Nov 22, 2017 7:42:44 GMT
MT have acted swiftly at the end of the term, gave a good update and the sales sound positive. At the moment no reason to think this will be anything other than a happy outcome.
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