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Post by Badly Drawn Stickman on Nov 23, 2017 16:02:23 GMT
The earlier tranches have gained 'Renewal' boxes. I would take that as a good sign in one way. If the option to exit the loans on the original repayment date is there, I would be very comfortable investing. If not, maybe a good bit less so. Simply on the basis that if the 'joined' loans get back on track I would be happy to stick with it, if not then getting out makes a lot of sense.
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elliotn
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Post by elliotn on Nov 24, 2017 3:00:31 GMT
Would have also expected a much bigger reaction on the SM - or maybe that is just about to kick in. The older tranches were selling before my page refreshed yesterday so looks like still some MH on platform and people holding loans to stay invested.
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Post by snowdrop800 on Nov 24, 2017 10:00:24 GMT
Co-incidentally I was in the area and stopped by the site on 2nd November (updated valuation is for the 3rd).
To me it also looked well behind schedule with not much visible progress from the pictures in May. Phase 1 is nowhere near completion. Also, even though it was mid-afternoon there was no-one at all on site.
I am beginning to become concerned at MT's lack of oversight / monitoring of their development sites.
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Post by Badly Drawn Stickman on Nov 24, 2017 10:11:31 GMT
Co-incidentally I was in the area and stopped by the site on 2nd November (updated valuation is for the 3rd). To me it also looked well behind schedule with not much visible progress from the pictures in May. Phase 1 is nowhere near completion. Also, even though it was mid-afternoon there was no-one at all on site. I am beginning to become concerned at MT's lack of oversight / monitoring of their development sites. I am working on the assumption that everybody is aware it is highly unlikely that this will complete in the loan timescale, including MoneyThing. I guess what I want to know is what is the planned approach to this, if it is an extension by renewal I am perfectly happy to be involved. If however it is destined to become another 'soft default' I am more inclined to walk away now. Clarification of some form would be good, maybe knock once for yes and twice for no.
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oldgrumpy
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Post by oldgrumpy on Nov 24, 2017 10:12:50 GMT
Co-incidentally I was in the area and stopped by the site on 2nd November (updated valuation is for the 3rd). To me it also looked well behind schedule with not much visible progress from the pictures in May. Phase 1 is nowhere near completion. Also, even though it was mid-afternoon there was no-one at all on site. I am beginning to become concerned at MT's lack of oversight / monitoring of their development sites. An interesting report, snowdrop800Funny how MT say "Works on site are progressing and the client anticipates having phase 1 completed by Christmas. This accounts for 6 out the 10 units"
I do hope Ed and the Things are not allowing borrowers to start playing the Whitehaven game. MT, don't start believing everything our borrowers say as they ask for more money.
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snowmobile
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Post by snowmobile on Nov 24, 2017 10:24:17 GMT
Would have also expected a much bigger reaction on the SM - or maybe that is just about to kick in. The older tranches were selling before my page refreshed yesterday so looks like still some MH on platform and people holding loans to stay invested. Indeed loans are selling so quickly I'm wondering if there are bots at work. On the 4th drawdown the same lender has been purchasing all SM availability for the past few days. That is until £1 was purchased by another lender this morning - testing maybe
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djpix99
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Post by djpix99 on Nov 24, 2017 11:20:48 GMT
I'm to blame for buying that £1, had a little interest lying around and it was the only loan available at the time.
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7d7
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Post by 7d7 on Nov 24, 2017 11:31:47 GMT
The bid restriction for this loan is 24 hours. Apparently, all recent loans are identical. I wonder why. I remember the email that clarified bid limits were going to increase from 24 to 48 hours. However, I don't recall seeing one when they reverted back to the old system.
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Post by ladywhitenap on Nov 24, 2017 11:36:01 GMT
I'm confused about the appearance of the renew box on my holding in the first tranche of these loans.
The new tranche today is not enough to replay this one and in any case T1 has 3 months more to go.
So is the renew box there indicating the early tranches will overrun and hence need renewal?
I'm happy with what I have in Tranche one but don't want more so I've ticked "renew T1" to prevent any possible repayment from T5 and might well untick it after t5 has gone through.
Confused LW
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archie
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Post by archie on Nov 24, 2017 11:38:25 GMT
I'm confused about the appearance of the renew box on my holding in the first tranche of these loans. The new tranche today is not enough to replay this one and in any case T1 has 3 months more to go. So is the renew box there indicating the early tranches will overrun and hence need renewal? I'm happy with what I have in Tranche one but don't want more so I've ticked "renew T1" to prevent any possible repayment from T5 and might well untick it after t5 has gone through. Confused LW Renew boxes are on all tranches which suggests the loan is very likely to be extended (renewed, not just end date changed as on some platforms).
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m2btj
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Post by m2btj on Nov 24, 2017 11:38:32 GMT
The older tranches were selling before my page refreshed yesterday so looks like still some MH on platform and people holding loans to stay invested. Indeed loans are selling so quickly I'm wondering if there are bots at work.On the 4th drawdown the same lender has been purchasing all SM availability for the past few days. That is until £1 was purchased by another lender this morning - testing maybe I sold £650 on the SM last night & the money was credited to my account instantly! I expected to wait until morning to sell but was amazed at the speed of sale.
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Post by ladywhitenap on Nov 24, 2017 11:51:48 GMT
I'm confused about the appearance of the renew box on my holding in the first tranche of these loans. The new tranche today is not enough to replay this one and in any case T1 has 3 months more to go. So is the renew box there indicating the early tranches will overrun and hence need renewal? I'm happy with what I have in Tranche one but don't want more so I've ticked "renew T1" to prevent any possible repayment from T5 and might well untick it after t5 has gone through. Confused LW Renew boxes are on all tranches which suggests the loan is very likely to be extended (renewed, not just end date changed as on some platforms). OK thanks so no significance to the timing of the renew box then. I only see it on T1 as that is only tranche I hold. LW
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archie
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Post by archie on Nov 24, 2017 12:06:02 GMT
Renew boxes are on all tranches which suggests the loan is very likely to be extended (renewed, not just end date changed as on some platforms). OK thanks so no significance to the timing of the renew box then. I only see it on T1 as that is only tranche I hold. LW The 4/11 update suggested that the loan would likely be part-extended. The renewal boxes suggest it's now very likely.
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Post by Badly Drawn Stickman on Nov 24, 2017 12:09:14 GMT
OK thanks so no significance to the timing of the renew box then. I only see it on T1 as that is only tranche I hold. LW The 4/11 update suggested that the loan would likely be part-extended. The renewal boxes suggest it's now very likely. It looks that way to me as well, I hope so because I have been investing more.
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Post by eascogo on Nov 24, 2017 17:45:17 GMT
Tranche 5 is now fully invested in less than 6 hours. The limit was set at £500. I am sure MT do their best to satisfy as many investors as possible each having a very different investment target. I suppose a 10h-time lapse (some would say 24h) to full investment would satisfy the greatest number but I am curious to hear what criteria MT uses to decide on limits.I expect that comes with a large element of guesswork.
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