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Post by richardthe4th on Nov 19, 2016 15:32:22 GMT
Can anyone advise if there is a fee for listing/ selling loan parts? How does the interest work?
Wouldn't mind getting rid off some that I ended up with when the internet the internet was running slow and a pressing the button twice!
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Post by buttchopf23 on Nov 19, 2016 15:36:08 GMT
You get interest untill you sell, same as ss.
No fee for selling
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archie
Posts: 1,838
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Post by archie on Nov 19, 2016 15:38:00 GMT
No fee. Interest will be on the first of the following month as usual for the part of the month you held it.*
* Only exception is when a loan completes as interest is paid on that day instead.
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nick
Member of DD Central
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Post by nick on Nov 21, 2016 15:19:44 GMT
You get interest untill you sell, same as ss. No fee for selling So is interest accrued up to the point you list for sale or up to the point of actual sale?
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Post by buttchopf23 on Nov 21, 2016 15:22:37 GMT
To the point you put it on the market, thats the reason why there is so much activity after midnight
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Post by buttchopf23 on Nov 21, 2016 20:40:06 GMT
I don't have the experience like you, thanks for your input. collateral rep:please clarify.
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Post by buttchopf23 on Nov 28, 2016 7:25:54 GMT
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Post by Collateral Rep on Nov 28, 2016 10:03:13 GMT
Hi buttchopf23, Interest is calculated the following day a loan part is purchased. Many thanks, Gordon
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Nov 28, 2016 10:10:33 GMT
Hi buttchopf23 , Interest is calculated the following day a loan part is purchased. Many thanks, Gordon Morning Gordon. Just for clarity, when you say "interest is CALCULATED", do you mean it begins to ACCRUE from one day after the purchase?
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Post by buttchopf23 on Nov 28, 2016 10:12:49 GMT
so this would mean that if something is bought 10 min to midnight, after midnight there is one days interest on the loan part. If I understood that correctly, it is what I said at the beginning. MONEY states it differently, so I am really confused
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Post by Collateral Rep on Nov 28, 2016 10:14:15 GMT
Hi jonno , The interest calculation process runs at 11:30 pm every night and then allocates interest the next day. So if you have a part in a loan at 11:30pm you will receive interest the next day. Many thanks, Gordon
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hendragon
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Post by hendragon on Nov 28, 2016 13:12:48 GMT
Guess what time people will be selling loans from now on
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
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Post by stub8535 on Nov 28, 2016 16:13:59 GMT
Wow! 30 minutes extra sleep a night! Whoop de doo. I wonder if the 11:30 is the book grab time and how many seconds it might take in which someone might not get a few coppers in interest?
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southport
Member of DD Central
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Post by southport on May 19, 2017 10:41:13 GMT
Can someone tell me if interest stops accruing when a loan part is put up for sale or when it is actually sold?
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star dust
Member of DD Central
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Post by star dust on May 19, 2017 10:54:18 GMT
Can someone tell me if interest stops accruing when a loan part is put up for sale or when it is actually sold? A box will appear when you sell, asking you to confirm your sale, and amongst other things advising "Please note, once you confirm you are selling your loan part all interest on this part will stop." It also states "Any unpaid interest accrued prior to sale will be credited at the end of the month as usual."
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