Peer-to-peer lending sites: MSE guide discussion

The MT loan is not for me either, waiting to see how all the defaults are handled (I am in most of them).

I don't agree with censorship in this case of the MT loan either but I do understand why somethings are kept under wraps sometimes.

fun4everyone wrote: »

The MT loan is not for me either, waiting to see how all the defaults are handled (I am in most of them).

I don't agree with censorship in this case of the MT loan either but I do understand why somethings are kept under wraps sometimes.

I've 750 in the default MT loans, 2 built properties under recovery sale the rest development loans. I'm finished with unbuilt development loans with aim to reduce. Too much risk. Others with Collateral as well. I've bought off plan property myself and know the risks of construction problems too well, thankfully they are ok but known others that have not been. So I am out of these going forward now

I'm buying equilty now instead in some built properties on property partner for a different approach and for general interest in it too in 250 chunks here and there.

AlanP wrote: »

It's a Bridging Loan not a Development Loan and no censorship, just one party with an interest enforcing their confidentiality agreement that they have in place with the borrower.

Unfortunate, minimises opportunity for shared DD and will put people off but censorship is too strong a term I think.

I'm not investing in it because I am up to my limit on MT and on property backed loans in general but if I wasn't then I would be in as terms, timescale and assets look good at first perusal.

NOTE - Not advice, do your own Due Diligence and reach your own conclusions.

Ah thanks for the correction I'm finished with the property type loans in general also with MT, especially with waiting on any recovery. I've 3000 with MT still, 750 in defaults out of that so I think I'd need my head looked at throwing more their way with nothing back yet on the defaults.

I'm keeping ablrate and be looking for mainly amortlising loans now going forward. I like also a lot are amortlising in general there.

On another note property partners latest commercial property looks interesting for a next buy for me there.

My source is a random post on the p2p forum which ranks up there with citing the daily mail BUT

ABL have contacted the administrators to see 'if there's anything they can do to help'

Sounds interesting.....

On looking further, the official ablrate rep on that forum "ablrate" posted this yesterday

We have contacted the administrators to see if there is anything we can do to assist.

ag120 wrote: »

There is a loan on MT that it would seem we are banned from talking about online and certainly in the p2p forum. Does anyone know why? I'm not a big fan of censorship.

The rules of that other forum do not apply here so you're free to completely ignore them.

However, the protection provided by some types of product can be reduced or eliminated if it's known that the product is in use, which is why the restriction on that specific detail exists and should be respected.

It's a bit like the solicitor who knew that glass in tall buildings is safe so had a practice of banging against them. Worked well until he encountered a faulty panel and fell to his death. Disclose the potential fault and you could make it more likely for someone to try it, increasing the risk beyond what was expected.