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Saturday, 18 July 2015

Money Thing – Another 12% interest, Asset-based Loan Platform

Money Thing is, in many ways, similar to Saving Stream, which I wrote about in my last post.  All Money Thing loans offer 12% interest and are typically secured against personal property such as art, cars, planes or jewellery.  It’s a bit like a high Street Pawnbroker.

The Loan to Value Ratio (LTV) is typically 50%, ensuring that selling the asset should cover the loan.  The terms are usually 6 months.  This gives good liquidity as you can get your money plus interest back over a relatively short period.

The web site is easy to use and the customer support also appears to be good.  You can check what loans are coming on stream on the P2P Independent Forum.  As with other high interest platforms, new loans are in great demand but the platform currently, typically limits the size of your investment, in a 24hr period, ensuring that as many lenders as possible get a bite of the cherry.


The platform also lumps smaller loans together into a portfolio of typically £10k to £50k.  This makes lending easier to manage.

Fast Transfers

Money Thing deposit your incoming cash very quickly so if you do a ‘fast’ bank transfer they typically acknowledge the deposit in less than an hour so you can then invest.

Note: Saving Stream go one step further and allow you invest as long as you have made a transfer (ie they don’t wait to receive the transfer).


PRENDING can be soulless but adding varied objects adds interest to lending.  My loans include security against a Porsche, a portfolio of electronics, a Piper plane plus 4 paintings.  Much easier to visualise rather than endless lists of bricks and mortar! 

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