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Post by badboyyardy on Jan 22, 2018 15:43:00 GMT
Same thing happened with (MTBA822) Newcastle - grab and sell on SM. Too many negatives for me still out
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,742
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Post by jonno on Jan 22, 2018 15:43:33 GMT
It's quite reassuring that the market in general agrees with most of us on here that this one is a pile of poo
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dovap
Member of DD Central
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Post by dovap on Jan 22, 2018 16:04:04 GMT
well if you can't polish it there's always sprinkling a bit of glitter on it.
no doubt it'll do the trick and then be squitted back out onto the sm after drawdown.
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Post by df on Jan 22, 2018 16:13:46 GMT
How does the cashback thing work. So if l invest £100 , l get £1 returned to my account as soon as the loan is 100% occupied? Your return will depend on how many days you have invested for until the loan is drawndown.
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archie
Posts: 1,838
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Post by archie on Jan 22, 2018 16:27:44 GMT
How does the cashback thing work. So if l invest £100 , l get £1 returned to my account as soon as the loan is 100% occupied? Your return will depend on how many days you have invested for until the loan is drawndown. Not for the cashback element, you get 1% of your total investment when the loan draws down. Unless you meant the percentage return depends on how long you have to wait for it then I agree.
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Post by sannytwist on Jan 22, 2018 17:13:43 GMT
Hmmm... l don't think l will be tempted either. I rather invest my pennies on the odd bits and bobs from the sm.
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Post by df on Jan 22, 2018 17:51:47 GMT
Your return will depend on how many days you have invested for until the loan is drawndown. Not for the cashback element, you get 1% of your total investment when the loan draws down. Unless you meant the percentage return depends on how long you have to wait for it then I agree. Thank you archie . I had completely wrong idea of how cash back works. Received cash back pennies before, but never bothered to calculate its value against my investment. I always thought you get 1% on the top of the original interest for the period until drawdown. So if I invest £100 1 day before the loan is filled I still get £1? Is this the same with COL and Ly?
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star dust
Member of DD Central
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Post by star dust on Jan 22, 2018 17:58:45 GMT
Not for the cashback element, you get 1% of your total investment when the loan draws down. Unless you meant the percentage return depends on how long you have to wait for it then I agree. Thank you archie . I had completely wrong idea of how cash back works. Received cash back pennies before, but never bothered to calculate its value against my investment. I always thought you get 1% on the top of the original interest for the period until drawdown. So if I invest £100 1 day before the loan is filled I still get £1? Is this the same with COL and Ly? Yes, but the trigger may vary i.e. sometimes it could be draw-down rather than just fill.
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archie
Posts: 1,838
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Post by archie on Jan 22, 2018 18:12:31 GMT
Not for the cashback element, you get 1% of your total investment when the loan draws down. Unless you meant the percentage return depends on how long you have to wait for it then I agree. Thank you archie . I had completely wrong idea of how cash back works. Received cash back pennies before, but never bothered to calculate its value against my investment. I always thought you get 1% on the top of the original interest for the period until drawdown. So if I invest £100 1 day before the loan is filled I still get £1? Is this the same with COL and Ly? Yes, plus any interest. Cashback is tax free. You'll lose interest selling on the sm on the other platforms.
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Post by df on Jan 22, 2018 18:45:10 GMT
Thank you archie . I had completely wrong idea of how cash back works. Received cash back pennies before, but never bothered to calculate its value against my investment. I always thought you get 1% on the top of the original interest for the period until drawdown. So if I invest £100 1 day before the loan is filled I still get £1? Is this the same with COL and Ly? Yes, plus any interest. Cashback is tax free. You'll lose interest selling on the sm on the other platforms. Wow! Tax free as well! I'm not into flipping, but it's good to know how it works. I only recently learned that I don't loose interest whilst in queue with MT, always thought the selling rules are the same as SS's
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Post by woodyalan on Jan 22, 2018 19:12:37 GMT
Does the 1% offer apply to all loans or is it just new loans after the offer has been made?
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oldgrumpy
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Post by oldgrumpy on Jan 22, 2018 19:15:32 GMT
It's only for this loan MTBE924, including any money already lent on this loan before the offer was made.
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ali
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Post by ali on Jan 22, 2018 19:16:45 GMT
It's only for this loan MTBE924. But for all loan parts in that loan bought both before and after the offer.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jan 22, 2018 19:19:00 GMT
Ah! Clarified by good old ali while I was clarifying with my prompt edit.
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Post by sannytwist on Jan 22, 2018 21:49:46 GMT
Its a good incentive if u already wanted to invest in this loan but 1% cashback isn't enuff for me lol
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