SteveT
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Post by SteveT on Dec 7, 2016 20:42:20 GMT
I'm puzzled: I've received interest on Tranche 4 of a loan (MTA1579), but apparently none for Tranche 2 (MTA1577) which ends at the same time. Has the interest-thing simply not got round to tranche 2 yet, or am I missing something? Can anyone clarify? You're right. Tranches 1, 3 and 4 paid interest first thing today but not tranche 2. One for MoneyThing hopefully to prod tomorrow.
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ali
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Post by ali on Dec 7, 2016 20:52:19 GMT
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fasty
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Post by fasty on Dec 7, 2016 20:55:10 GMT
Ahh, very observant, thank you ali
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Post by rock500 on Dec 9, 2016 8:28:42 GMT
No interest payment for MTAH531 this morning in either mine or my wife's a/c.
Anybody else the same ?.
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SteveT
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Post by SteveT on Dec 9, 2016 8:31:29 GMT
No interest payment for MTAH531 this morning in either mine or my wife's a/c. Anybody else the same ?. It's only 8.30am! [Now paid, circa 8.50am]
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Post by rock500 on Dec 9, 2016 8:52:23 GMT
Thanks SteveT, to be honest i thought interest is paid just after midnight, never logged in and its not been there hence the message.
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SteveT
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Post by SteveT on Dec 9, 2016 9:06:26 GMT
It's the right to receive another day's interest that is earned at midnight, which is why some people wait until just after midnight to sell parts. However monthly interest payments tend to be credited as soon as the office opens.
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Post by MoneyThing on Dec 9, 2016 10:20:26 GMT
Morning,
Whilst the interest calcs are all undertaken at midnight and we could easily automate the part where it credits it to lenders accounts, I like to review all the figures before pressing the button. Just for my comfort really.
Kind regards,
Ed
EDIT: My apologies for the slight delay this morning.
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elliotn
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Post by elliotn on Dec 9, 2016 14:55:17 GMT
Hi, could I ask how the monthly interest payments are funded - MT float/ retained at drawdown/borrower payments (what happens if paid late?). Thanks.
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jonah
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Post by jonah on Dec 9, 2016 20:04:33 GMT
Hi, could I ask how the monthly interest payments are funded - MT float/ retained at drawdown/borrower payments (what happens if paid late?). Thanks. I asked this a while back. The answer then was that cash was paid monthly. I.e. Not retained, in most cases I believe.
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elliotn
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Post by elliotn on Dec 10, 2016 7:38:44 GMT
Hi, could I ask how the monthly interest payments are funded - MT float/ retained at drawdown/borrower payments (what happens if paid late?). Thanks. I asked this a while back. The answer then was that cash was paid monthly. I.e. Not retained, in most cases I believe. Thanks Jonah, I am (slowly) making my way back through the threads' history (Broadoak have just introduced themselves and the SM is about to be introduced ). This is either further testament to MT's borrower selection for apparently timely interest payment or perhaps MT/partners will dip into their floats for any delayed payments. I do like the monthly borrower engagement/proof of cash flow this would suggest as opposed to, say, retaining at drawdown and then providing no more (or even deleting) comms for 12 months hoping the borrower hasn't long ago abandoned their latest PP SPV gamble!
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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 Dec 10, 2016 10:14:16 GMT
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elliotn
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Post by elliotn on Dec 10, 2016 11:04:02 GMT
Perfect, tvm for your help (notes updated, Ed de-tagged!).
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elliotn
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Post by elliotn on Dec 10, 2016 11:17:06 GMT
Not knowing how the interest is paid by the borrower means we cannot compare property only LTV %s vs FS or by deducting interest/fees from SS property loans.
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blink
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Post by blink on Jan 7, 2017 11:44:22 GMT
Just wondering. Has everyone received their interest payment today for loan MTA1577 Presbury Hotel and Restaurants loan 2 of 4. I have received interest for Loans 1,3 and 4.. Just asking in case I am missing something. I have emailed MoneyThing
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