stevio
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Post by stevio on Apr 2, 2016 18:41:57 GMT
Thanks, I meant if there is a capital and interest payment every month, you sell part way through, who gets those monthly interest and capital payments or are they split based on accrued up-to the sale date?
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star dust
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Post by star dust on Apr 2, 2016 18:51:57 GMT
stevio Your accrued interest to the point of sale is paid at the next (monthly) payment date. I don't think there are any amortising loans on the platform so you just sell the capital element on and it repays at term to whoever is holding it.
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paulg
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Post by paulg on Apr 2, 2016 18:58:51 GMT
Thanks, I meant if there is a capital and interest payment every month, you sell part way through, who gets those monthly interest and capital payments or are they split based on accrued up-to the sale date? 1. There aren't capital and interest payments every month. Interest is paid monthly, capital is repaid at the end of the loan term. 2. Interest is accrued daily and paid monthly. When you sell a loan part (or part of a loan part) the interest you have accrued up to the day of sale is paid to your account on the day that all the monthly interest for that loan is paid.
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stevio
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Post by stevio on Apr 2, 2016 19:04:41 GMT
Just looked at my account and I have several loans paying capital repayments (eg CSP Managed Portfolio, Blue 1987 Series 3 Jaguar XJ Sovereign v12, 1985 BMW 635 CSI Auto, Collection of Five Cars etc etc)
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SteveT
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Post by SteveT on Apr 2, 2016 19:16:15 GMT
Just looked at my account and I have several loans paying capital repayments (eg CSP Managed Portfolio, Blue 1987 Series 3 Jaguar XJ Sovereign v12, 1985 BMW 635 CSI Auto, Collection of Five Cars etc etc) Capital repayments on MT are all at the end of the loan term. If your statement includes capital repayment transactions, those are at the point a loan renews. The old loan is repaid and the capital reinvested in the new loan.
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stevio
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Post by stevio on Apr 2, 2016 19:23:45 GMT
Just looked at my account and I have several loans paying capital repayments (eg CSP Managed Portfolio, Blue 1987 Series 3 Jaguar XJ Sovereign v12, 1985 BMW 635 CSI Auto, Collection of Five Cars etc etc) Capital repayments on MT are all at the end of the loan term. If your statement includes capital repayment transactions, those are at the point a loan renews. The old loan is repaid and the capital reinvested in the new loan. Ahh, that explains it! All the capital payments are for loans that have completed or renewed. Sorry to have been pedantic, just wanted to understand lol
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Post by ydobon on Apr 19, 2016 7:41:56 GMT
I just released £500 or so of small parts (art, property etc.) into the wild.
Those lasted all of 3 minutes!
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jonah
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Post by jonah on Apr 28, 2016 15:11:36 GMT
I think the 20 seconds the CSP renewal took to refill suggests that the MoneyThing email advertising the renewal may have been a little unnecessary... Those ones are still very popular! |
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ben
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Post by ben on Apr 28, 2016 15:14:57 GMT
Maybe when comes to renewal smaller limit might be beneficial
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SteveT
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Post by SteveT on Apr 28, 2016 15:18:29 GMT
I think the 20 seconds the CSP renewal took to refill suggests that the MoneyThing email advertising the renewal may have been a little unnecessary... Those ones are still very popular! But perhaps a good way to get people that missed out on the CSP loan to invest instead in a property loan that still has some availability ... 
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jonah
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Post by jonah on Apr 28, 2016 15:23:18 GMT
I think the 20 seconds the CSP renewal took to refill suggests that the MoneyThing email advertising the renewal may have been a little unnecessary... Those ones are still very popular! But perhaps a good way to get people that missed out on the CSP loan to invest instead in a property loan that still has some availability ... Could be. They are ticking down nicely though and as pom pointed out elsewhere, the current position on new loans suggests that the float isn't needed right now. So, could be that Ed and team aren't too worried about the levels on those loans, especially as c170k / day @ 10% per year of interest they are currently not having to pay. I wouldn't rush to clear the decks if I was them.
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gurberly
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Post by gurberly on Apr 28, 2016 17:31:21 GMT
I think the 20 seconds the CSP renewal took to refill suggests that the MoneyThing email advertising the renewal may have been a little unnecessary... Those ones are still very popular! Sadly I nipped downstairs to make a coffee and came back in at 16:00:30 .....all gone  Alan
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SteveT
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Post by SteveT on May 4, 2016 13:51:08 GMT
Quite a few bits popping up on the SM this afternoon, presumably on account of the FS cashbacks announced earlier.
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davex
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Post by davex on May 11, 2016 13:06:40 GMT
Just sold 3 tranches of AE315, taking an opportunity to tidy up.
interestingly they had all gone by the time I had navigated back to the loans screen.
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Post by flobberchops on May 15, 2016 23:46:37 GMT
It looks like somebody has just cashed in all their chips as the SM is currently awash with loan parts, most £1000 or less. Act fast!
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