jimbob
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Post by jimbob on Sept 21, 2016 15:17:15 GMT
I may be in the minority, but I preferred the look of tranche A, anyway. Must be getting more cautious in my old age Heh me too, There is this bit in the notes too (Should the worst happen) The full order of repayments, after recovery costs (LPA receiver fees etc.) have been paid, is: 1) tranche A capital 2) tranche B capital 3) Broadoak first loss investment capital 4) tranche A accrued interest 5) tranche B accrued interest 6) Broadoak first loss investment accrued interest What interest rate will investors receive if the loan defaults? Investors in tranche A and tranche B will receive the same interest rate if the loan goes into default: 1.5% per month.
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SteveT
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Post by SteveT on Sept 21, 2016 15:17:37 GMT
I had my fill of both for now, but will be selling down B before A!
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Post by bengilbert on Sept 21, 2016 15:33:22 GMT
One final question bengilbert . What is the status of the 25% deposits that have been taken, and if there are related charges against the development, where do they rank with respect to this drawdown? Sorry to answer this a bit late. The deposits are part of the contracts between the purchasers and the borrowers, and by lending with knowledge that they exist, we have effectively consented to them. Should we or a receiver have to step in to deal with the property, we would have to honour those contracts, which include the commitment to sell the properties at the agreed price after deducting the deposits. The deposits don't form additional charges on the property, but we are obliged to fulfil the terms of the contract.
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star dust
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Post by star dust on Sept 21, 2016 15:35:15 GMT
Still a bit of A left as I type, but I don’t think Broadoak will have to buy out any on the 5th October. As a minor player I’m very pleased that I’ve got what I want in two loans on both platforms. It was altogether seamless for me, I put some faith in it all being alright in the end, and didn’t have to sell anything or transfer any money anywhere, apart from to pay for my SS loanpart. So from a happy investor, congratulations in particular to Ed and the MoneyThings, and to savingstream also. How good was that
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duck
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Post by duck on Sept 21, 2016 16:07:50 GMT
I say 'well done' MoneyThingWhilst all three accounts that I run all had repayments from Cardiff larger than the total allowed for the 2 tranches I'm happy with the end result. I fully accept that not everybody will be happy with the way that limits appeared a little later than the initial Email but the way that the Cardiff money appeared 2 hours before the launch of the new loans has to be applauded. What we don't see at 'this end' is the hard work that must have been put in to make a difficult situation easily workable for the investors. Now Ed how about something to soak up the remaining cash
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Post by scoobydoo on Sept 21, 2016 16:10:25 GMT
I might have missed it on this thread but what was the reason why the cardiff loan went from MT to SS?
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ali
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Post by ali on Sept 21, 2016 16:11:34 GMT
I say 'well done' MoneyThing Whilst all three accounts that I run all had repayments from Cardiff larger than the total allowed for the 2 tranches I'm happy with the end result. I fully accept that not everybody will be happy with the way that limits appeared a little later than the initial Email but the way that the Cardiff money appeared 2 hours before the launch of the new loans has to be applauded. What we don't see at 'this end' is the hard work that must have been put in to make a difficult situation easily workable for the investors. Now Ed how about something to soak up the remaining cash I was thinking about a bit of bubbly to celebrate with
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Sept 21, 2016 16:51:44 GMT
I might have missed it on this thread but what was the reason why the cardiff loan went from MT to SS? Too big and concentrated for MT. Of course it might prove to be so for SS if it goes down the tubes.
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archie
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Post by archie on Sept 21, 2016 17:20:09 GMT
All gone
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Post by whatif on Sept 21, 2016 17:26:34 GMT
All gone I can see the choccie biscuits being handed around at Thing Towers Well done to both MT & SS for a very smooth handover, enabling everyone (possibly) to be a winner
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Post by wickedxuk on Sept 21, 2016 17:30:37 GMT
I had literally just received confirmation of my deposit when it all sold 😣 gutted! Now I withdraw....
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Post by GSV3MIaC on Sept 21, 2016 17:41:42 GMT
MoneyThing .. 0.5% obviously ISN'T the right answer now you have more than 200 punters who want some! Guess again (I was on vacation and missed out on most of it).
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archie
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Post by archie on Sept 21, 2016 17:44:27 GMT
There's clearly demand for a further tranche, Oliver Twist springs to mind.
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fp
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Post by fp on Sept 21, 2016 17:47:01 GMT
I think we should bear in mind that there is a lot of spare cash on the platform today, usually the 0.5% limit works well and a loan is live for upwards of 24 hours for funding
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Post by eascogo on Sept 21, 2016 19:23:07 GMT
I think we should bear in mind that there is a lot of spare cash on the platform today, usually the 0.5% limit works well and a loan is live for upwards of 24 hours for funding The limits of 0.5% must have been a compromise as MT couldn't be certain that the transfer from SS would land before 4pm. Lower limits might have been set otherwise. I was on the keyboard at 4pm fortunately but a good many punters will have missed a share. Hopefully a further chunk will be coming shortly.
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