P2P: MoneyThing

economic

bigadaj wrote: »

I don't use any auto invest, you are just too much at risk without information in my opinion.


I'd agree about Lendy and stopped using them last year, the MT issues recently are disappointing and they are a little caught between a rock and a hard place, people expect 1% a month but then start squealing when there is a default, so long as the security is there, and some valuations are optimistic to say the least, then return of the majority of capital shouldn't be an issue.


Just wonder why you are using ratesetter, they've had issues and returns are poor?


I've not researched all the platforms by any means, and my use of MT, Coll & Abl was working well until recently, MT default are becoming an issue and deal flow on all platforms is problematic.

never has an issue with ratesetter (yet). returns are poor if you buy loans at the wrong time. i have bought mine at around 6% which seems reasonable for the risk.

with MT i have derisked, only one loan i cant sell which is under default so just waiting for that. thing is with MT and Collateral they dont have many loans on offer, deal flow very poor. so just not worth it for me.

keyboardworrier

Anyone considering investing in the new tranche of Bollington should read the latest update, there's talk of delays to the project (Much like the Plymouth loan which recently defaulted)

AlanP_2

keyboardworrier wrote: »

Anyone considering investing in the new tranche of Bollington should read the latest update, there's talk of delays to the project (Much like the Plymouth loan which recently defaulted)

An awful lot of building projects, large and small, overrun on time and/or on budget - I know my simple "add a conservatory" project did.

MT have put Plymouth into default and technically that is the correct thing to do. It stops someone new and unfamiliar with the loan buying it on the SM for a start.

If you look at some other platforms they will show loans with a negative due date, is that more comforting?

What is important is how they and the borrower now handle the situation going forwards to achieve a satisfactory outcome.

Whilst loans going into default is never good it is when it is written off as irrecoverable that you have to accept the fact that your cash has gone. Nowhere near that with Plymouth at present.

keyboardworrier

AlanP wrote: »

An awful lot of building projects, large and small, overrun on time and/or on budget - I know my simple "add a conservatory" project did.

MT have put Plymouth into default and technically that is the correct thing to do. It stops someone new and unfamiliar with the loan buying it on the SM for a start.

If you look at some other platforms they will show loans with a negative due date, is that more comforting?

What is important is how they and the borrower now handle the situation going forwards to achieve a satisfactory outcome.

Whilst loans going into default is never good it is when it is written off as irrecoverable that you have to accept the fact that your cash has gone. Nowhere near that with Plymouth at present.

I understand delays happen, I was just making people aware of the update. If people still want to invest in this loan then it's up to them, personally I sold the majority of my holding in this loan earlier after I saw a post on the P2P forum of someone who visited the site (http://forum.p2pmoney.co.uk/post/230911/thread)

P2P is risky enough without taking undue risks when various things become apparent.

takesyourchances

keyboardworrier wrote: »

I understand delays happen, I was just making people aware of the update. If people still want to invest in this loan then it's up to them, personally I sold the majority if my holding in this loan earlier after I saw a post on the P2P forum of someone who visited the site (http://forum.p2pmoney.co.uk/post/230911/thread)

P2P is risky enough without taking undue risks when various things become apparent.

Thanks for this I'd already decided I'd enough in this development to invest more. It'll not go down well if this causes problems too.

bigadaj

AlanP wrote: »

An awful lot of building projects, large and small, overrun on time and/or on budget - I know my simple "add a conservatory" project did.

MT have put Plymouth into default and technically that is the correct thing to do. It stops someone new and unfamiliar with the loan buying it on the SM for a start.

If you look at some other platforms they will show loans with a negative due date, is that more comforting?

What is important is how they and the borrower now handle the situation going forwards to achieve a satisfactory outcome.

Whilst loans going into default is never good it is when it is written off as irrecoverable that you have to accept the fact that your cash has gone. Nowhere near that with Plymouth at present.

It's one of the problems with only operating a secondary market at par. So long as information is freely available then variable pricing would allow people to allocate their own understanding of risk and so value of the loan.

economic

bigadaj wrote: »

It's one of the problems with only operating a secondary market at par. So long as information is freely available then variable pricing would allow people to allocate their own understanding of risk and so value of the loan.

variable pricing also makes it more liquid which is good. thats why ablrate is a good platform.

jamesd

keyboardworrier wrote: »

Much like the Plymouth loan which recently defaulted

It was probably cheaper for the borrower to pay the default interest rate than extend. With a buyer apparently ready when the buildings are it shouldn't take more than a few months to sort out.

Since Bollington is the same firm any profit from the Plymouth student loan will presumably help Bollington make progress.

takesyourchances

Good to see you back posting again James. Do you feel the quality of loans being offered on MT are not as good as earlier in the year for example? the recent loans, I am reading a lot of drawbacks on the P2P forum and I am holding out for some better loans on MT for new cash.

ams25

Yes good to see you back james. Hope all is ok

With the recent spate of defaults on MT have been wondering about building up my P2P holdings. Have you changed anything...given your high allocation.