webwiz
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Post by webwiz on Mar 2, 2015 14:02:24 GMT
If an item is not redeemed I assume that after some legal process MT's partner can sell the item. MT have said that in the event of a shortfall the partner will stand the loss. Excellent. But what happens about interest payments? Are they continued to be paid until the loan is repaid or is there a hiatus in interest payments? If the former, is there any advantage in diversifying across loans, as I have been doing, or might I just as well go big in a few loans?
And in particular what about the sole property? In view of the difficulty in getting in on any of the jewelry before it's all gone, why don't we all just stick our two pennyworth into that?
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row
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Post by row on Mar 2, 2015 14:45:37 GMT
Not sure about your first couple of points, but in regards to property, i am already exposed enough in the BTL market AND on SS.
That would be enough for me.....hence the reason i am trying to get in on jewellery and the like.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 2, 2015 15:27:51 GMT
If an item is not redeemed I assume that after some legal process MT's partner can sell the item. MT have said that in the event of a shortfall the partner will stand the loss. Excellent. But what happens about interest payments? Are they continued to be paid until the loan is repaid or is there a hiatus in interest payments? If the former, is there any advantage in diversifying across loans, as I have been doing, or might I just as well go big in a few loans? And in particular what about the sole property? In view of the difficulty in getting in on any of the jewelry before it's all gone, why don't we all just stick our two pennyworth into that? The loan is bought back by the partner at the end of term so if theres a default it falls on them to sort out. We get capital & final interest on the due date. www.p2pindependentforum.com/post/37491 In theory therefore diversification is unnecessary. The issue at the moment iswhat happens if the sole partner fails. I havent seen any clarification from MoneyThing as to what happens in that instance, particularly as the actual asserts remain with the partner.
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Post by MoneyThing on Mar 2, 2015 15:41:37 GMT
Afternoon,
Thank you il moro for the nudge - I almost missed this thread going on.
Yes, the loans originated by the Partner are bought back from us at the end of the loan term and therefore capital and final interest payment is paid back to the investor(s) on this date.
Whilst the assets are held by the Partner, the loans have been assigned to MoneyThing and therefore should the Partner fail we would collect the assets and take over the responsibility of winding down the loan book.
Kind regards,
Ed
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 2, 2015 16:09:07 GMT
Afternoon, Thank you il moro for the nudge - I almost missed th thread going on. Yes, the loans originated by the Partner are bought back from us at the end of the loan term and therefore capital and final interest payment is paid back to the investor(s) on this date. Whilst the assets are held by the Partner, the loans have been assigned to MoneyThing and therefore should the Partner fail we would collect the assets and take over the responsibility of winding down the loan book. Kind regards, Ed Thanks for the clarification. Hope you have a very big safe/vault/small army lined up in that event. 
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coop
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Post by coop on Mar 2, 2015 16:16:43 GMT
Maybe Ed could send us all a couple of addresses and we go round ourselves; like a P2P debt collection agency!
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jonno
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nil satis nisi optimum
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Post by jonno on Mar 2, 2015 16:20:48 GMT
Maybe Ed could send us all a couple of addresses and we go round ourselves; like a P2P debt collection agency! Not so sure, unless O.G. will go in first 
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oldgrumpy
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Post by oldgrumpy on Mar 2, 2015 16:43:13 GMT
Maybe Ed could send us all a couple of addresses and we go round ourselves; like a P2P debt collection agency! Not so sure, unless O.G. will go in first You mean me? Nah! I've retired. Could give my cousin Dimngrumpy and his team a call.
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jonno
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nil satis nisi optimum
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Post by jonno on Mar 2, 2015 16:50:05 GMT
Not so sure, unless O.G. will go in first You mean me? Nah! I've retired. Could give my cousin Dimngrumpy and his team a call. Sound a bit of a tasty bunch 
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 2, 2015 18:18:38 GMT
jonno You mean me? Nah! I've retired. Could give my cousin Dimngrumpy and his team a call. Sound a bit of a tasty bunch I believe the beginning of 2001 is modelled on them in action!
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oldgrumpy
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Post by oldgrumpy on Mar 2, 2015 18:24:27 GMT
daaaaaaaaaaaaaaah-daaaaaaaaaaaaaaaaaaaaaah-daaaaaaaaaaaaaaaaaaaaaah DA-daaaaaaaaaaaaaaaah....
rumble>>>> boom bo
Shut up Grumps!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 2, 2015 18:30:36 GMT
daaaaaaaaaaaaaaah-daaaaaaaaaaaaaaaaaaaaaah-daaaaaaaaaaaaaaaaaaaaaah DA-daaaaaaaaaaaaaaaah.... rumble>>>> boom bo Shut up Grumps!
In keeping with recent classical musings, did think of posting a musical accompaniment to today action launch. William Tell Overture seemed applicable at the time, though in light of speed of events Flight of the Bumblebee would have been more appropriate. (Couldnt upload file in time in end)
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jonno
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nil satis nisi optimum
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Post by jonno on Mar 3, 2015 9:28:37 GMT
daaaaaaaaaaaaaaah-daaaaaaaaaaaaaaaaaaaaaah-daaaaaaaaaaaaaaaaaaaaaah DA-daaaaaaaaaaaaaaaah.... rumble>>>> boom bo Shut up Grumps!
In keeping with recent classical musings, did think of posting a musical accompaniment to today action launch. William Tell Overture seemed applicable at the time, though in light of speed of events Flight of the Bumblebee would have been more appropriate. (Couldnt upload file in time in end) I thought the Benny Hill theme may have been more appropriate
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elliotn
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Post by elliotn on Nov 15, 2016 10:08:02 GMT
Afternoon, Thank you il moro for the nudge - I almost missed this thread going on. Yes, the loans originated by the Partner are bought back from us at the end of the loan term and therefore capital and final interest payment is paid back to the investor(s) on this date. Whilst the assets are held by the Partner, the loans have been assigned to MoneyThing and therefore should the Partner fail we would collect the assets and take over the responsibility of winding down the loan book. Kind regards, Ed Apologies for my premature posting, this would appear to summarise clearly. I promise to read all ilmoro's links before posting in future  .
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