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  • FIRST POST
    jamesd
    P2P: MoneyThing
    • #1
    • 2nd Aug 16, 7:29 PM
    P2P: MoneyThing 2nd Aug 16 at 7:29 PM
    This is a discussion for things specific to the MoneyThing peer to peer lending platform, to make it easier to find those as distinct from more general P2P discussions. More discussion is available at the P2P Independent Forum MoneyThing section.

    MoneyThing does a range of lending types that often avoid the ubiquitous property development loans seen in the P2P world at the moment but still does many of those. Interest rates are typically 12% but have ranged from 10-15%. All loans are secured on some sort of physical asset.

    The platform received full FCA approval in March 2017, replacing its former interim approval.

    As of 1 April 2017 there have been no defaults but eventually this is sure to change since it's a fact of life with lending.


    TOPICS: generic P2P, Ablrate, Lendy (formerly Saving Stream), MoneyThing.
    Last edited by jamesd; 16-04-2017 at 11:22 PM.
Page 6
    • Trentenders
    • By Trentenders 14th Jun 17, 7:48 PM
    • 1,112 Posts
    • 675 Thanks
    Trentenders
    I could tell you that it's legit, but you don't know who I am, so why would you trust me?

    You could check Companies House and the FCA Register for starters...

    P.S. They are legit
    • Flobberchops
    • By Flobberchops 14th Jun 17, 8:07 PM
    • 584 Posts
    • 421 Thanks
    Flobberchops
    Very quick question - I can see from just this forum post that quite a few people have signed up for this but can people just confirm that it is legit. I have signed up but it is asking for a certified copy of documents so I want to make sure this is the case before I upload anything.
    Originally posted by Zosa
    I had to do the same. This is a fairly standard request for financial providers. Please do your own research into MoneyThing but I think you'll find they are a popular and trusted platform with overwhelmingly positive reviews.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • anselld
    • By anselld 14th Jun 17, 10:20 PM
    • 5,392 Posts
    • 4,946 Thanks
    anselld
    Very quick question - I can see from just this forum post that quite a few people have signed up for this but can people just confirm that it is legit. I have signed up but it is asking for a certified copy of documents so I want to make sure this is the case before I upload anything.
    Originally posted by Zosa
    Presumably when you signed up you were expecting to upload money. Why are you suddenly more troubled by uploading documents?
  • jamesd
    can people just confirm that it is legit. I have signed up but it is asking for a certified copy of documents so I want to make sure this is the case before I upload anything.
    Originally posted by Zosa
    It's legitimate and one of the firms that has full rather than interim permission from the FCA so they survived that scrutiny. I have many tens of thousands invested there and have paid in and withdrawn may tens of thousands.
    • takesyourchances
    • By takesyourchances 2nd Oct 17, 2:57 PM
    • 438 Posts
    • 258 Thanks
    takesyourchances
    New loans seem to have slowed up on MT recently. I've idle funds awaiting new loans as have enough in the others. Was thinking to withdraw this money as seems slow lately for new loans.
    • TheShape
    • By TheShape 2nd Oct 17, 8:16 PM
    • 1,113 Posts
    • 866 Thanks
    TheShape
    Last week's Moneything Pipeline stated that there were two expected new loans due this week. Whether the materialise is another thing and I'd be inclined to withdraw pending an actual announcement.

    I 'temporarily' invested my idle balance in an existing loan with the intention of selling when a new loan became available. I'm now stuck in a very long sales queue.
    • takesyourchances
    • By takesyourchances 2nd Oct 17, 11:10 PM
    • 438 Posts
    • 258 Thanks
    takesyourchances
    Last week's Moneything Pipeline stated that there were two expected new loans due this week. Whether the materialise is another thing and I'd be inclined to withdraw pending an actual announcement.

    I 'temporarily' invested my idle balance in an existing loan with the intention of selling when a new loan became available. I'm now stuck in a very long sales queue.
    Originally posted by TheShape
    I withdrew tonight my idle money, this was my first withdrawal from MT and it arrived in my bank straight away so that was good. I put it into my S&S ISA, I am balancing investing in it too as I was going a bit lighter on it the last 6 months with P2P.

    If new loans appear, I can always add fresh money if they seem decent.

    There seems to be a very big sales queues at the moment, I don't want to add any more to current loans than I have in and awaiting fresh ones to spread things out a bit more hopefully. Recent weeks has been a bit harder with new loans across a few platforms.

    I have some investment trust investments going out this week as well and don't want to take my eye of these investments either.

    The slow up seemed to have come after recent defaults on MT which got me wondering too....
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