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Post by jmpt on Mar 24, 2016 15:18:53 GMT
Hi,
Just joined MT and this forum.
Can someone explain what does the column Interest Paid under Loans > Completed Loans mean?
Was it the total interest paid for that loan?
Cheers, JM
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SteveT
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Post by SteveT on Mar 24, 2016 15:31:48 GMT
Hi, Just joined MT and this forum. Can someone explain what does the column Interest Paid under Loans > Completed Loans mean? Was it the total interest paid for that loan? Cheers, JM Yes, exactly that. (and welcome on board!)
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Post by jmpt on Mar 24, 2016 15:43:38 GMT
Thanks!
So for the completed loans, I guess they were all short term, like 6 months? Or the total amount was not always funded?
JM
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ben
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Post by ben on Mar 24, 2016 15:50:44 GMT
Thanks! So for the completed loans, I guess they were all short term, like 6 months? Or the total amount was not always funded? JM yes completed loans are the ones paid back and the rather large loan that did not get funded before Christmas
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Post by jmpt on Mar 24, 2016 15:55:07 GMT
Thank you for your reply.
JM
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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 24, 2016 16:32:39 GMT
Thanks! So for the completed loans, I guess they were all short term, like 6 months? Or the total amount was not always funded? JM Most loans are 6 months. Some including all the various types of portfolios renew at that point, keeping the same number but can be considered as a new loan with interest reseting.
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Post by jmpt on Mar 24, 2016 16:37:53 GMT
Thank you.
It is clear now.
JM
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Post by flobberchops on Mar 27, 2016 16:10:32 GMT
Hi all, Apologies for hijacking the thread but my question probably doesn't merit its own. I notice that most MT loans are at 12%. However there are a few 10%ers listed, and one at 13% that unfortunately I was too late to buy into. What circumstances or factors would lead to individual loans being higher/lower than the standard 12%? Also - a very candid question if I may - looking at other P2P sites, the kind of rates being offered absolutely pale in comparison to MT, or else are for 1/3/5 year terms. To put it bluntly, why is MT so good? I don't see evidence of huge risk or frequent defaults.
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ben
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Post by ben on Mar 27, 2016 16:31:15 GMT
MT is pretty new so defaults have not really come through yet, a lot of the offering are for pawn items so the pawn shop makes far more then we get and hopefully they do not get to many defaults.
SS for property and FS have similar rates and would guess risk is about the same. The higher percentage one was a second charge so ranks below the first one so ie if it went bad and you were in the second charge you would get nothing until the first had been repaid completely so higher risk. The lower percentage ones are usually ones with a partner or are lower risk as the work has already begun so the underlying asset value should increase from the initial valuation
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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 27, 2016 17:06:47 GMT
. The higher percentage one was a second charge so ranks below the first one so ie if it went bad and you were in the second charge you would get nothing until the first had been repaid completely so higher risk. 3rd charge in fact, so a higher LTV than the 2nd charge, though actually lower risk than several of the loans on site at 70%LTV.
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jonah
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Post by jonah on Mar 27, 2016 18:56:01 GMT
...and one at 13% that unfortunately I was too late to buy into In addition to the responses above, it it worth knowing that it is likely that there will be more of this 13% loan coming. See the pipeline thread and specific thread on that loan for the details.
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johnfleet
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Post by johnfleet on Mar 27, 2016 19:05:31 GMT
MT is pretty new so defaults have not really come through yet, a lot of the offering are for pawn items so the pawn shop makes far more then we get and hopefully they do not get to many defaults. SS for property and FS have similar rates and would guess risk is about the same. The higher percentage one was a second charge so ranks below the first one so ie if it went bad and you were in the second charge you would get nothing until the first had been repaid completely so higher risk. The lower percentage ones are usually ones with a partner or are lower risk as the work has already begun so the underlying asset value should increase from the initial valuation in fairness, you'll get the same rates on Saving Stream and Ablrate, which is why I'm majoring on these 3 sites - and so far - touching every bit of wood in sight - I've not had any defaults on any of these sites, which are providing me with a very reasonable monthly pension.... long may it continue!!!!
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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 27, 2016 20:23:49 GMT
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Post by flobberchops on Mar 28, 2016 11:17:36 GMT
In addition to the responses above, it it worth knowing that it is likely that there will be more of this 13% loan coming. See the pipeline thread and specific thread on that loan for the details. Excellent, I'll try to grab a (small) slice of that! That's good to know, thanks. I'm a very small-time investor but I'll look into those for the future.
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Post by flobberchops on Apr 1, 2016 18:25:21 GMT
Hi, quick question. What day of the month do loans earn interest? I had assumed the first, but evidently not.
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