Moneything Review – My Unbiased Lender Experiences After 3+ Years

moneything review

Moneything Peer To Peer Lending Review

** Moneything review updated November 7th, 2018 **

Read my comprehensive unbiased Moneything review highlighting my experiences after more than two years of lending. See why it remains in my top five peer to peer lending choices.

I’m disappointed in some of Moneything’s loan defaults. At this point I’ve decided not to invest further with Moneything until I see positive default recovery results. Moneything’s defaults magnify some of the risks presented to lender’s who dabble in high interest paying property backed loans.

On a positive note, several loans have been repaid including a £2.26m hotel development loan.

My October 2018 Investment: Reduced
My annual rate of return: 10.9% (Net return after bad debt and fees but before tax)
Est. Annual Returns:10% - 13%
Recent Return Rate Trend:← →
My Risk Rating *:
Early Exit:
ISA Available:
Loan Types:Property development, pawn, managed portfolios
Loan Security:Property, cars, jewellery, equipment
Provision Fund:
Lender Fees:None
Min Investment:£1
Time to Become Invested:Slow
Time Needed Managing:
Lending Agreements With:Borrowers
FCA Regulation:Interim
Cashback Offer:
No current cashback offers

* This opinion risk rating factors in types of loans offered, interest rates, platform history, default numbers and my own investing experience. My risk rating explained.

The Moneything Review: What You Need To Know

Thumbs Up
  • Competitive interest returns for lenders
  • Diversified selection of secured loans
  • Secondary market to buy and sell loans / no premiums
  • No secondary market markups / all loans bought and sold at par
  • Easy to use website with frequent improvements
  • Fast deposits and withdrawals
  • ISA
Thumbs Down
  • Increasing level of defaults
  • Less default handling history
  • Loan valuation issues
  • Loans don’t amortise, increasing risk
  • Multiple loans to same borrowers increases risk
  • No website statistics page showing default rates
Equivalent Competitors

Funding Secure

Moneything: My experiences so far….

I have been investing through Moneything since June 2015 but property loan defaults have been increasing so I’m keeping a watchful eye on default recovery effectiveness. The website is very easy to use and deposits and withdrawals are handled swiftly.

What Is A Moneything?

Moneything began as an online pawnbroker that used peer to peer lenders to finance pre-funded. Pawnbroking is an extremely profitable business and one I understand because my late father was a pawnbroker. This is partly why I decided to invest through Moneything even though it was a new platform and I considered it to be in the high-risk category.

Since I started investing through Moneything, they have moved away from the original pawnbroking loan model in favour of property and development bridging loans, grouped asset loans and stocking loans consisting of car hire purchase agreements, cars and debentures.

How Can I Contact Moneything ?

UK Tel: 0800-066-3344

When Did Moneything Launch?

February 2015

Are they regulated? 

Yes, by the Financial Conduct Authority #703549 under full permissions granted March 23rd, 2017. Investments made through Moneything are not covered under the FSCS (Financial Services Compensation Scheme). FCA regulation is nothing like the FSCS, which covers consumers when they deposit money in banks. The FCA reports to the UK government and has the ability to pursue criminal action against companies which violate its standards and codes of conduct.

How Do I Sign Up / Any Offers?

Click here to sign up. Currently, there are no cashback offers.

Who Can Open An Account?

Anyone who can pass the usual verification identity checks.

What’s The Signup Process Like?

Moneything runs the usual i.d. checks however some readers have reported that a certified passport copy is required. The cost of obtaining the passport copy isn’t covered by Moneything so be prepared for this additional expense.

How Much Time Will It Take To Become Invested?

This can vary on demand and supply but as of September 2018, there was plenty of loans available on the market and secodary market.  New loans can be intermittent.

How Are Deposits Made And How Quickly Are They Credited?

Deposits are made via bank transfer and usually show up within an hour or two during business hours.

How Quickly Are Withdrawals Processed And Received?

I have received my withdrawals extremely quickly, the last one being processed and credited to my bank account within two hours on a business day.

What’s The Minimum Deposit / Investment?

Deposit: No minimum
Loans: No minimum

Does Moneything Offer An Innovative Finance ISA?

Yes, Moneything launched its ISA to all in June 2018.

How Much Interest Does Moneything Pay Lenders / Investors?

10-18% annually

Does Interest Accrue Immediately On Loan Purchase Or When the Loan Begins?

Interest accrues immediately on loan purchase.

When Is Interest Paid?

Interest payments are staggered throughout the month depending on when borrowers make payments.

Am I Lending To The Moneything Platform Or To Borrowers?

Loan agreements are directly between lenders and borrowers.

What Are The Fees?

Lenders pay no fees.

What Are The Length Of The Loans?

Most loans are six months to one year but some are as long as five years. Loans can renew at the end of the term or be paid off early.

What Security Does Moneything Loan Against?

All loans are secured by items such as property, gold, cars, property, debentures, boats, electronics and planes etc. Loan To Values are in the 13-69% range. If the borrower defaults, Moneything or its loan partners can attempt to recover and sell the assets to recover lenders’ money.

What Are The Loan Default Rates? 

Moneything doesn’t provide default or late payment statistics on its website.

What Is Moneything’s Default Handling Like? 

I currently have eight property back loans that are in default. This is a troubling number but in my experience, Monertyhing has acted in a timely fashion when loans became non-performing.

Some of the default recovery results have been less than stellar. One property sold for approximately 50% of its RICS appraised value. This will likely result in capital losses to lenders’. This loan took about 14 months to go through the recovery process.

Another loan that was put into administration was found to have subpar building materials resulting in significant remediation which means increased costs and probably less recovered capital.

On a positive note, another defaulted loan was fully recovered in two weeks but I find this isn’t the norm and I expect the rest of the defaults to take time to recover.

Moneything provides periodic default updates on the loan information pages.

Is There a Secondary Market?

Yes, there is and lenders can sell loan pieces anytime for free. The secondary market can go from a buyers’ market to a sellers’ market on any given day. Currently, there is an abundance of loans for sale on the secondary market mainly due to the default issues.

What Are The Main Risks?

Platform failure: As with every peer to peer company, platform failure presents the greatest risk to lenders. If Moneything were to go out of business, there are many unknowns as to whether lenders capital and interest would be recovered.

Some loan partners have multiple loans: Moneything has a close lending relationship with a few borrowing partners. This means that some borrowers hold multiple loans, thus presenting diversification risk. If a multiple loan borrower defaults, a large proportion of lenders funds could be in jeopardy. This is one of my biggest concerns.

Economic downturns: Since Moneything pays lenders high return rates, this means borrowers are paying even higher interest rates. When economies fail, high-interest loan default rates increase and asset values can fall, making recovery challenging.

Limited default recovery history: Moneything has several loans on its books that are in default but its recovery experience and success is limited. Time will tell.

Valuation errors: Moneything uses third parter surveyor for property valuations. If the surveyor values a property incorrectly, there might be a shortfall in capital and interest recovery if the property needs to be sold in a default event.

Lowering of underwriting quality: If Moneything lowers its underwriting standards, lower quality loans could be presented to lenders. So far Moneything’s loan selections and due diligence have been impressive.

Is There A Provision Fund?


What Happens If Moneything Goes Bust?

This isn’t clearly explained on their website so I emailed Ed the owner. This is what he said:

“There is a Deed of Assignment (DoA) in place for each loan on the MoneyThing platform. Each DoA contains a Schedule of all investments in that loan, the investor’s name and % they hold. This DoA then explicitly describes how the investors (as listed in the Schedule), have an equitable interest in the underlying security of the loan, the proportion being the % listed in the Schedule. The DoA also stipulates that the investor earns 12% (apportioned) annualised interest for the duration of the loan until such time as the borrower redeems or defaults (and the asset is disposed of to recover the capital & interest).

Thus, in the event that MoneyThing were to go ‘pop’, the administrator/liquidator would have access to these DoA (to be able to pass this onto someone to wind-down the loan book), but crucially that the security behind the loans could not be considered as part of the company assets.”

In reality, no one knows how this would play out and this is all part of the risk of peer to peer lending.


Interest Return Rates Of 10-18%

Rates vary on the types of loans and interest payments are staggered throughout the month. When loans are paid back in full, I have always promptly received capital and interest back as promised. Remember that higher interest returns likely means higher risk.

Loan Security and Low Loan-To-Value (LTV)

Low LTV’s are essential to successful default recovery. Moneything’s LTV’s are usually in the 13-60% range and all loans are backed by physical asset security such as property, cars, jewellery, art and electronics.

The Secondary Market

Moneything’s secondary market is very easy to use with no premiums or discounts to confuse things or decrease liquidity. Have a loan piece you want to sell? Simply click sell, decide how much you want to offload and voila! Selling loans can be slow but this is all demand and supply based but I tested the market on September 19th, 2018 and was able to sell some non-perfoming loan parts within a couple of hours.

Moneything Review

The secondary market also shows where your sale sits in the queue:

moneything review

Remember that secondary markets are provided as a bonus and it’s never a guarantee that you will be able to sell your loans.

Deposits, Payments & Withdrawals

Deposits are made via bank transfer and are usually credited within an hour or two during business hours. Same for withdrawal payments. Kudos to Moneything!

The Website

It looks great, is super easy to use and navigate and it just works. Here is the loan dashboard:

moneything review


If you need help, the Moneything team is helpful and they are open to suggestions and feedback as they truly want to provide customers with an exceptional experience. Big banks could learn a thing or two from Moneything.

Updates on live loans are sent to lenders’ via a weekly email.


Increasing Property Loan Defaults With Little History Of Property Default Recovery

Moneything has seen an increase in property defaults in 2018. As far as I’m aware, Moneything has a short track record of successful property default recovery. In peer to peer lending, default recovery is extremely important in order to recoup lenders’ funds. It will be interesting to see how Moneything’s default actions progress.

In addition, a couple of defaulted loans have been plagued by previous contractors poor building standards that have required extensive remedial work. When this happens, costs increase and full capital recovery becomes less likely.

Increased Competition Slowing Down New Loan Offerings

As the peer to peer lending sector grows, attracting new borrowers can be troublesome, especially for the smaller lending companies. As the various peer to peer companies target the same limited borrower pool, this will mean there are times when new loans are few and far between. This is especially true of the smaller peer to peer lending companies. Sometimes lender patience can run thin when waiting to invest money but patience is the key as I’ve seen many companies experience new loan droughts.

Some Loan Borrowers / Partners Have Multiple Loans

Moneything works with a smaller number of loan introducers and borrowers, resulting in some borrowers holding multiple loans at the same time. If a borrower defaults on multiple loans, this could be disastrous for lenders. Unfortunately, due to Moneything’s limited loan offerings, it can be difficult for lenders to fully diversify. Ideally, in the future, Moneything will have many more loan partnerships, giving lenders true diversification.

When a borrower has multiple loans, the information is stated in the loan description:

Loans Don’t Amortise

This means lenders receive monthly interest only payments and the loan principals don’t decrease monthly like on some other platforms. The loan principals is paid back when the loan is paid back in full. This is normal within the pawnbroking business but increases risk, so that’s something you have to evaluate within your risk tolerance.

No Information On Default Rates

The website doesn’t show any statistic information regarding late payments or default rates. Most peer to peer lending companies have a detailed statistics page so I’m surprised that Moneything doesn’t offer one.

My Strategy

When I started investing through Moneything, there were few registered investors so I was able to spread my investments over a diversified number of loans ranging from cars to property. If I were starting today, I would feel some frustration towards the lack of new loan opportunities ad I would certainly be concerned about the rising level of property-backed loan defaults.

If I were a new investor, I’d probably wait to see how successful the default recoveries were before I invested. If you do invest, patience is the key and it may take several months to become fully diversified on Moneything. I would still aim to spread my total planned investment amount over several new loans as they appear and attempt to buy older loans on the secondary market. Don’t be tempted to put too much money into a single loan as defaults have risen. Also, pay close attention to some borrowers as they may have multiple loans within Moneything. This information is shown in the loan description.

The Moneything Review Conclusion

After almost three years of lending, I continue to support Moneything despite the increased loan defaults. Moneything’s loans offer lenders returns in the 10-14% range and while only a small number of loans have defaulted, I still consider the investment risk to be higher. New loan frequency is inconsistent making it difficult for new lenders to invest and become diversified. Moneything’s secondary market makes buying loan pieces a breeze however selling is demand and supply dependent and can sometimes be slow. The overall website is very easy to use, deposits and withdrawals are quickly.

If you enjoyed my Moneything review and want to learn more about peer to peer lending, click here and receive my complimentary Top 5 Peer to Peer Lending Sites Report.

I love feedback, so if you find any errors or omissions or have any improvement suggestions, I invite you to contact me and be a part of contributing to this website.

Disclaimers: I’m not paid by or employed by any of the companies I write about. In most cases I have invested or continue to invest my own money through these companies. The sign-up links on this website are referral links. When you sign up for an account through my website, I receive a referral fee directly from the companies, at no cost to you. Your support enables me to continue to operate the Financial Thing website. You can read more about my referral links here.

** This unbiased review is for information purposes only and should not be considered investment advice. Opinions expressed in this review are based upon my investing experiences. All information was deemed to be correct at the time of writing. Peer to peer lending contains risks so never invest more than you can afford to lose. **