bugs4me
Member of DD Central
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Post by bugs4me on Mar 4, 2015 21:11:03 GMT
Hi Ed
There are a couple of loans or three which are due for repayment during the next few days. What is the position regarding rolling these over into a new loan against the same item.
Will existing lenders/investors automatically be permitted for example to renew or would it go to a new auction.
It's possible of course that the facility does not exist but if it does......any plans......thoughts.......etc
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Post by MoneyThing on Mar 5, 2015 9:34:48 GMT
Hi Ed There are a couple of loans or three which are due for repayment during the next few days. What is the position regarding rolling these over into a new loan against the same item. Will existing lenders/investors automatically be permitted for example to renew or would it go to a new auction. It's possible of course that the facility does not exist but if it does......any plans......thoughts.......etc Morning bugs4me, At the present time, renewed loans are treated the same as redeemed or defaulted in that the capital and final interest payment is paid back to the investors. If it is a renewal then it will be made available to us to buy again and treated as a completely new loan to be invested in. We can certainly look at developing a facility whereby the investor is given a choice as to whether they want to stay invested in the event of a renewal. Kind regards, Ed
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bugs4me
Member of DD Central
Posts: 1,841
Likes: 1,466
|
Post by bugs4me on Mar 5, 2015 9:39:52 GMT
Hi Ed There are a couple of loans or three which are due for repayment during the next few days. What is the position regarding rolling these over into a new loan against the same item. Will existing lenders/investors automatically be permitted for example to renew or would it go to a new auction. It's possible of course that the facility does not exist but if it does......any plans......thoughts.......etc Morning bugs4me, At the present time, renewed loans are treated the same as redeemed or defaulted in that the capital and final interest payment is paid back to the investors. If it is a renewal then it will be made available to us to buy again and treated as a completely new loan to be invested in. We can certainly look at developing a facility whereby the investor is given a choice as to whether they want to stay invested in the event of a renewal. Kind regards, Ed MoneyThing - Ed - thanks for the prompt response - it would certainly be an advantage for an auto renew facility to exist with the balance of those not wishing to renew going to auction. There is another platform that has introduced this and it has certainly IMO reduced the 'scrum' at auction time.
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