SteveT
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Post by SteveT on Mar 29, 2016 12:03:27 GMT
Sorry for asking what may seem an obvious question... I'm new to MT. Can proportions of loan parts be sold or does the whole part have to be sold? Do you have to wait for the whole part to sell before cashing out? Is interest paid up until the point the part has sold and been credited or does it stop accusing as soon as the loan is put up for sale? Thanks in advance! Any proportion can be sold (down to £1 minimum). Cash is credited to your account as soon as any partial purchase occurs, the rest remaining on sale. Parts on the SM carry on earning interest until they sell. Much more flexible than SS!
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pom
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Post by pom on Mar 29, 2016 12:07:57 GMT
And if you change your mind/strategy you can cancel parts for sale if they've not yet sold  |
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Post by flobberchops on Mar 29, 2016 19:50:43 GMT
Maybe I'm missing something, but browsing the available loans, is there any way of knowing whether they're PM/SM? And at any rate is there a difference in how they're funded, pay interest, etc?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Mar 29, 2016 20:06:08 GMT
Maybe I'm missing something, but browsing the available loans, is there any way of knowing whether they're PM/SM? And at any rate is there a difference in how they're funded, pay interest, etc? There is no difference from an investors point of view, apart from cashback, so it is not important for us to know, but there is a big difference to MT as they pre-loan all loans. Currently only the two Bolton tranches and AE372 are PM.
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star dust
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Post by star dust on Mar 29, 2016 20:08:44 GMT
Maybe I'm missing something, but browsing the available loans, is there any way of knowing whether they're PM/SM? And at any rate is there a difference in how they're funded, pay interest, etc? Well, at the moment the ones flagged 'open for cashback' are the PM, and all the rest are the SM. There's not really any difference other than you will not be able to put any of your PM parts up for sale until the whole loan has filled. In normal times you'd really have to look at the loan detail to see when the start date is/was, if only a few days ago and a sizeable amount on the market then very likely PM. All the MT loans are fully funded (by MT) when they go on the platform. Most of us are a bit oblivious as we have been watching closely and know what's new and what's not, but could well be a bit confusing for a newbie - over to ED
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Post by MoneyThing on Mar 29, 2016 20:32:08 GMT
Maybe I'm missing something, but browsing the available loans, is there any way of knowing whether they're PM/SM? And at any rate is there a difference in how they're funded, pay interest, etc? Well, at the moment the ones flagged 'open for cashback' are the PM, and all the rest are the SM. There's not really any difference other than you will not be able to put any of your PM parts up for sale until the whole loan has filled. In normal times you'd really have to look at the loan detail to see when the start date is/was, if only a few days ago and a sizeable amount on the market then very likely PM. All the MT loans are fully funded (by MT) when they go on the platform. Most of us are a bit oblivious as we have been watching closely and know what's new and what's not, but could well be a bit confusing for a newbie - over to ED Interesting discussion. I have to admit that I hadn't anticipated lenders would find this information useful (i.e. PM or SM available loan parts). Regards, Ed.
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registerme
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Post by registerme on Mar 29, 2016 22:10:31 GMT
Well, it's a valid point of interest (ahhemm), even if only in terms of remaining term (ahhemm).
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Post by flobberchops on Mar 29, 2016 23:30:07 GMT
I see Bolton Tranche 2 just got funded! Congrats MT. So, about that cashback...  |
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SteveT
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Post by SteveT on Mar 30, 2016 6:50:26 GMT
I see Bolton Tranche 2 just got funded! Congrats MT. So, about that cashback... Both tranches presumably need to fill before cashback is paid and SM trading enabled. * This loan highlights one or two headaches caused when multiple tranches are offered in parallel. Most platforms fill one tranche before launching another, not least because it allows them to focus / tailor "support" (cashback, bonus interest, etc.) where it is most needed. If the large Cardiff further loan goes forward, I suspect that will be the better approach. [Edit: * Just spotted Ed's confirmation of this on the next thread]
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treeman
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Post by treeman on Mar 30, 2016 15:12:29 GMT
Shockingly - there is still a bit (c. £1300) left on todays MP renewal after 10 mins !
When did that last happen ?!?
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paulg
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Post by paulg on Mar 30, 2016 15:18:52 GMT
Shockingly - there is still a bit (c. £1300) left on todays MP renewal after 10 mins ! When did that last happen ?!? : It seems that if you were in the rollover of this loan then you are not able to bid. 
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ben
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Post by ben on Mar 30, 2016 15:31:11 GMT
Shockingly - there is still a bit (c. £1300) left on todays MP renewal after 10 mins ! When did that last happen ?!? With all the other activity on secondary market few might have not noticed it
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stevio
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Post by stevio on Apr 1, 2016 18:01:13 GMT
What happens with the interest and capital payments when a loan is sold on the SM for MoneyThing? I know MoneyThing have said interest will still accrue whilst on sale, but is this then paid at the next time that interest is paid on the loan? and what about the capital payment? |
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hendragon
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Post by hendragon on Apr 2, 2016 16:14:40 GMT
What happens with the interest and capital payments when a loan is sold on the SM for MoneyThing ? I know MoneyThing have said interest will still accrue whilst on sale, but is this then paid at the next time that interest is paid on the loan? and what about the capital payment? Interest accrued prior to the sale is paid when the next interest payment is due. That is what has happened to loan parts I have sold.
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paulg
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Post by paulg on Apr 2, 2016 18:38:23 GMT
What happens with the interest and capital payments when a loan is sold on the SM for MoneyThing ? I know MoneyThing have said interest will still accrue whilst on sale, but is this then paid at the next time that interest is paid on the loan? and what about the capital payment?The capital repayment is instantly credited to your available funds as each part of your loan part is sold. You don't have to wait for the whole loan part to sell before you get access to the funds.
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