caz
New Member
Posts: 2 
Likes: 1
|
Post by caz on Jun 6, 2016 17:10:33 GMT
Hi all,
I'm new to p2p but I have a quick question about loans on Moneything. If it says 6 months in the title, does that mean I pay £50 a month or is that just how long you have to wait to get paid back? Also, do you have any guides to help a newbie?
Cheers!
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jun 6, 2016 17:24:06 GMT
That means if everything works out well in 6 months you get your capital back, interest is paid once a month. The loan might extend or might default (ie they do not pay back) and MT has to do there best to sell the asset.
|
|
archie
Posts: 1,838
Likes: 1,842
|
Post by archie on Jun 6, 2016 17:29:04 GMT
For MT you get interest monthly and then the capital at the end of the loan term. If the loan renews you can decide whether to rollover the loan (leave your capital invested).
You only pay the amount you are comfortable to lend on each loan, there isn't a monthly instalment.
Loans may have an upper limit for investment for the first 24 hours to allow more people to invest.
You can sell your loan once the initial loan has filled. For MT, sales are usually very quick.
As a general rule on any platform you should diversify across several loans to reduce the risk.
|
|
caz
New Member
Posts: 2
Likes: 1
|
Post by caz on Jun 6, 2016 18:08:08 GMT
Thanks for the replies  |
|
