14-05-2018, 08:43 AM
Both Haydock and Dublin were due to repay over the weekend, neither did. I see MT have quietly extended the end dates (again) without bothering to mention it to anyone.
MoneyThing (lack of) updates
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14-05-2018, 08:43 AM
Both Haydock and Dublin were due to repay over the weekend, neither did. I see MT have quietly extended the end dates (again) without bothering to mention it to anyone.
25-05-2018, 02:08 PM
...and once again both loans extended into the weekend with no notice to lenders.
25-05-2018, 02:25 PM
(25-05-2018, 02:08 PM)lloydwright Wrote: ...and once again both loans extended into the weekend with no notice to lenders.Also: The Antiques centre in Newcastle was due to have payment received "later this week" (From the 13th May) - no update. The Self-storage unit was meant to complete refinancing last Tuesday/Wednesday - no update. The Bradford site update from the 18th advised that the borrower expected to bring payments back up to date today - no update yet (to be fair, the day is not quite over).
29-05-2018, 09:14 PM
Extending loans is a way of manipulating default rates down. - many platforms use it
13-06-2018, 04:06 PM
Defaulted loans all updated....apart from Birkenhead (as yet)
13-06-2018, 07:12 PM
And a belated explanation of why nothing sooner (vacations, and a screw up).
13-06-2018, 07:41 PM
Most of them in my opinion were worth the wait, whilst it can be frustrating waiting for updates on a loan which is in default i personally cant see the point in giving a pointless update, didn't Lendy used to update with "no change"or something along those lines? All MT are doing is waiting until there is something worthwhile to report, and that will do for me.
The numbers being banded around for recovery are IMO a lot better than you see on some of the other 12% platforms we all know. Its always nice to think you are going to get 100% of your investment plus interest back, but in reality this is a rarity, think wind turbines, IOW land, castles, etc, etc. MT seem to have been in the firing line of late due to the defaults etc, but they aren't doing to bad with recoveries IMO 100% plus bonus interest for the supercars. 90-95% on prestbury, with the possibility of more recovery 74% likely from LSA, with the possibility of more to follow. 97% likely from Plymouth 2 (fingers crossed) Bollington however may be the exception Updates seem like they are few and far between, but they are dealing with the defaults and positive progress can be seen when the updates come along, instead of kicking the problem down the road for months, no, years as the likes of FS, Lendy and others appear to do.
14-06-2018, 08:13 AM
(13-06-2018, 07:41 PM)uggie Wrote: Most of them in my opinion were worth the wait, whilst it can be frustrating waiting for updates on a loan which is in default i personally cant see the point in giving a pointless update, didn't Lendy used to update with "no change"or something along those lines? All MT are doing is waiting until there is something worthwhile to report, and that will do for me.Agreed. Isn't there a matter of 'trust' here? In my world trust is earned and that takes time. I've found the latest batch of MT updates informative which is a big plus for me. Did we have to wait for them, yes, but the wait was (IMHO) worthwhile. I have for a long time hated the formulaic 'no update' type of update but I can see why platforms did/do it, nobody likes to feel forgotten. MT have had a bad patch for defaults and many investors are feeling very edgy (not sure if that is the right word) and a lot rests on the recoveries. If an update gave information that subsequently failed to materialise the baying hoards would descend. I for one wish them well and hope to see the recoveries in due course.
14-06-2018, 08:41 AM
I too was pleased with the updates. Providing they actually deliver their contents, it'll be a big boost for the platform.
However, although I'll now tentatively peer through their shop-front window again, there are 2 aspects here in judging their performance. There's the % recovery of defaulted loans, but firstly the % of loans that are defaulted in the first place. Judging by their recent updates, I'd say there's a not insignificant further risk of trouble ahead for our beloved antiques centre, whilst progress on Metalworks is way way behind schedule. Meanwhile, the Everton loan has been on the refinancing table for 3 months now with no offers put forward. I could pick a couple of others which look (more subjectively) 'iffy'. So, for me, to be redeemed, they need to both deliver on their recoveries and also manage their other loans that look on distinctly 'Plan B' territory. Two of the three I've mentioned above are MT's largest and 2nd largest loans (and Bollington, already defaulted, is their 3rd). I hope they don't, but if they do default then the % of defaulted loans by capital lent is going to be absolutely eye-watering. I'm going to find it very difficult to trust their judgement again, and with no variable SM there's no easy escape If I give them the benefit of the doubt.
14-06-2018, 12:39 PM
Totally agree with the above. What I find disconcerting about MT's future is their business plan. They stated a while back that they weren't looking for any new business that wasn't property related.
Their track record to date shows that they're pretty good at managing pawn, cars and other non property related assets but quite poor at sourcing and managing property loans. Birkenhead notwithstanding, MoneyThing benefitted greatly from the BPF exposure to property loans. Since they (understandably) went their separate ways, MT haven't demonstrated to me that they're capable of managing a substantial property portfolio. I feel there's a lot of future bad news brewing in their portfolio and is a platform to be treated with caution.
12-07-2018, 06:24 PM
I dont know why I have been banned from P2P independent forum and my fixed IP address has been blocked from that forum. My posting on this forum was also removed.
I have lots of information that I was willing to share. Re B****** H***** The good news the "expected sale price" of £4.48m is published on practical law The bad news is that published price is totally false How do I get my IP address unblocked on the other forum?
12-07-2018, 06:34 PM
(12-07-2018, 06:24 PM)7878 Wrote: I dont know why I have been banned from P2P independent forum and my fixed IP address has been blocked from that forum. My posting on this forum was also removed.Your post on this forum was not removed, it was moved to the loans section of the Money Thing board because it related to a loan. http://p2pfrankdiscussion.freeforums.net...birkenhead You are welcome to continue posting on this forum
12-07-2018, 07:16 PM
(12-07-2018, 06:24 PM)7878 Wrote: How do I get my IP address unblocked on the other forum?If using a VPN (favoured tool of spammers, so the IP addresses are routinely banned over there), you might consider stopping using it. If using a free VPN, you might consider using a paid for one - decent VPN review site (many are simply advertorials): https://restoreprivacy.com/best-vpn/ If not using a VPN, try turning your Internet modem / router off overnight which will hopefully cause your service provider to allocate you with a nice clean un-banned one in the morning when you switch it back on and your connection to your provider has been re-established.
12-07-2018, 07:41 PM
Or, if using a Three mobile data connection, try something else
12-07-2018, 08:11 PM
I have a fixed ip address and am not trying to use a vpn.
12-07-2018, 09:44 PM
(12-07-2018, 08:11 PM)7878 Wrote: I have a fixed ip address and am not trying to use a vpn.Ah well, looking on the bright side, at least you can get in here OK (Perhaps one of the Indy mods / admins who have an account here would be so kind as to PM you here to a: check your posts on Indy to confirm that the IP address associated with those posts isn't on the banned list; and b: confirm the IP address associated with those posts is the same as the IP address you currently have allocated to you by your Internet provider)
13-07-2018, 10:23 AM
@7878
Seems there's a few people having this issue on Indy at the moment. Recent reply on a thread by the Indy Admin.... --------------------------------- Also had PM's from a few individuals on this subject, this is typical of the response we've sent. "As a forum we face a number of major challenges with spammers - we have very high daily page views and a wealthy demographic. Spamming is now a semi-commercial enterprise employing sophisticated teams (in the far east mainly) to post (if possible) hundreds of spam posts an hour onto forums such as this. Our only weapon in this war is to ban ranges of IP addresses owned by far eastern ISP's and (global) VPN type outfits. Unfortunately the 3 mobile network has caused us similar problems in the past, and we have had to ban large parts of their IP addreses as well. If you receive the "You have been banned" message, and you are using a VPN then simply quit the VPN. In time we expect we will have banned the majority of IP ranges used by such services - inevitably its a game of whack-the-mole, it just springs back up elsewhere. (You may find disconnecting and reconnecting the VPN session assigns you with a new IP address on the VPN in address space we haven't blocked as yet)." For a number of months now there have been close to zero spam posts reaching the forum, but that is due entirely to behind the scenes efforts to prevent spammers from gaining access to the forum, one strand to this is to block entire ranges of IP's so spammers can't attempt to register new accounts in the first place. Unfortunately, the internet's IP address space is not especially well structured, and sometimes there are small blocks of IP addresses owned by UK/EU ISPs in the middle of vast blocks owned by ISPs in other countries, and these do occaisonaly get blocked by accident. If you are using a UK/EU ISP and are not on a VPN and you are being blocked, make a note of the IP address you are using (with something like whatismyip.com ) and let admin know that address next time you're able to access the forum so we can investigate. Not ideal, and a major annoyance to all, but that's the way it is.
20-09-2018, 12:03 PM
Here's as good as place as any, I think.
New recruit announced today in the Autumn Newsletter. Former Assetz Capital man. Might lead to some new loans, particularly in the Midlands area(s). pfka new2p2p
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