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Post by petebutt43 on May 25, 2016 6:33:42 GMT
Are they precluded from p2p loans on two platforms simultaneously?
TC and MT
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Post by tybalt on May 25, 2016 6:55:01 GMT
Short answer Yes normally No in this case. More detail the ThinCats documentation said there would be a further loan secured on the property and ranking ahead of the ThinCats loan. No mention that the loan would be on MT but enough detail to explain the situation. Some debate on the ThinCats website. I did not read MT documents
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Greenwood2
Member of DD Central
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Post by Greenwood2 on May 25, 2016 6:58:13 GMT
There have been others with loans on two platforms (with agreement of both parties), but sometimes loans have been stopped because the first platform didn't know about the second loan until informed by lenders. I don't know what the situation is with this one.
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james
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Post by james on May 25, 2016 7:06:05 GMT
For reference the MoneyThing loans to the Nottinghamshire removals company via introducer F&P with LTV given as 60.12% are: FP386 tranche 1 36 months 10% £100,000 FP387 tranche 2 42 months 10% £100,000 FP388 tranche 3 48 months 10% £100,000 £29,290 available to buy, not fully funded yet FP389 tranche 4 54 months 10% £100,000 £41,687 available to buy, FP390 tranche 5 60 months 10% £75,000 none available The MoneyThing description mentions a planned loan of £300,000 via ThinCats. This discussion in the general section as well as one in ThinCats. |
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pom
Member of DD Central
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Post by pom on May 25, 2016 7:49:06 GMT
Am I the only person who saw this thread and initially assumed the 3rd letter was s?  |
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11025
Member of DD Central
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Post by 11025 on May 25, 2016 8:00:59 GMT
Am I the only person who saw this thread and initially assumed the 3rd letter was s? No , I did too , bit of a let down really 
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Greenwood2
Member of DD Central
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Post by Greenwood2 on May 25, 2016 8:16:51 GMT
When I first saw the thread, it was the whole word (must have been mod'ed) much more intriguing now.
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adrianc
Member of DD Central
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Post by adrianc on May 25, 2016 8:22:15 GMT
When I first saw the thread, it was the whole word (must have been mod'ed) much more intriguing now. There's a footnote saying it's been redacted for identifying the borrower. I'm still baffled - I wouldn't have thought the obvious pre-redaction narrowed it down ONE TINY BIT...
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 25, 2016 8:25:18 GMT
Perhaps B*ll***s would have been better .... more "on the ball" as they say.
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shimself
Member of DD Central
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Post by shimself on May 25, 2016 8:59:44 GMT
There have been others with loans on two platforms (with agreement of both parties), but sometimes loans have been stopped because the first platform didn't know about the second loan until informed by lenders. I don't know what the situation is with this one. Everybody knew from the start. Absolutely no cause for complaint. (Not that I fancy it mind)
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Post by mrclondon on May 25, 2016 13:06:28 GMT
Short answer Yes normally No in this case. More detail the ThinCats documentation said there would be a further loan secured on the property and ranking ahead of the ThinCats loan. No mention that the loan would be on MT but enough detail to explain the situation. Some debate on the ThinCats website. I did not read MT documents The introducer did identify the first charge holder would be MT in the loan Q&A section on the TC website, although it was not disclosed in the loan information pack.
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Post by yorkshireman on May 25, 2016 15:02:37 GMT
Am I the only person who saw this thread and initially assumed the 3rd letter was s? No, I expected it to be a comment about bankers. 
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