elliotn
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Post by elliotn on Mar 30, 2017 12:17:59 GMT
What provision will made for investors who may be away for the transition period with no Internet for periods of time? Can we provide wholesale instructions to roll over into the loans for example? Much better than ticking all those loan parts!
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archie
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Post by archie on Mar 30, 2017 12:18:18 GMT
Do these changes have any effect on renewals? Currently MT repay all investors on the morning of a renewal.
Will those that don't renew have to wait for the renewal to fill before receiving their capital back?
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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 Mar 30, 2017 12:34:27 GMT
Excellent, so accept T&CS, then rollover so that will be 'one button to bind them, one button to renew them all' Its a MordorThing
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dermot
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Post by dermot on Mar 30, 2017 13:25:56 GMT
Excellent, so accept T&CS, then rollover so that will be 'one button to bind them, one button to renew them all' Its a MordorThing And what follows MordorThing - SauronStream?
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Post by SophieThing on Mar 30, 2017 13:29:38 GMT
Do these changes have any effect on renewals? Currently MT repay all investors on the morning of a renewal. Will those that don't renew have to wait for the renewal to fill before receiving their capital back? Hi archie, Good point. Renewals will be treated as new loans and as such we will offer any spare loan parts to other lenders in advance of the renewal date. This may mean we need to ask lenders to confirm their renewal a little earlier. Kind regards Sophie
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Post by GSV3MIaC on Aug 24, 2017 9:57:36 GMT
SophieThing, the T&Cs claim to have changed again today .. any chance of another simplified update of what, roughly, was changed and why? Given there are dozens of screen-pages, playing 'hunt the thimble' is not a lot of fun and my blink comparator seems to be on the blink. 8>.
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robski
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Post by robski on Aug 24, 2017 10:00:11 GMT
There is a track changes document on there in PDF
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robski
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Post by robski on Aug 24, 2017 10:09:02 GMT
Seem to be changes mainly around clarifying tranches, order of priority in capital, interest etc
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robski
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Post by robski on Aug 24, 2017 10:23:52 GMT
So something that I am struggling to slot onto the definitions is the case when MT have paid interest in advance that they have not collected.
In this scenario where does MT rank in order of collecting said interest. MT fees are end of the line, but this isn't a fee.
So assuming there is a default, and all the capital is recovered and interest is payable for default, would the recovery of the original interest by MT rank above the interest due on the default or not?
Numerically two scenarios, assume £1000 interest has been paid in advance by MT, after capital recovery there is £750 left
does a) the £750 go towards any default interest or b) does the £750 go to MT to offset the £1000 they already paid.
Surely its b?
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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 Aug 24, 2017 10:35:20 GMT
So something that I am struggling to slot onto the definitions is the case when MT have paid interest in advance that they have not collected. In this scenario where does MT rank in order of collecting said interest. MT fees are end of the line, but this isn't a fee. So assuming there is a default, and all the capital is recovered and interest is payable for default, would the recovery of the original interest by MT rank above the interest due on the default or not? Numerically two scenarios, assume £1000 interest has been paid in advance by MT, after capital recovery there is £750 left does a) the £750 go towards any default interest or b) does the £750 go to MT to offset the £1000 they already paid. Surely its b? MT ranks last behind lenders p2pindependentforum.com/post/208121/thread
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robski
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Post by robski on Aug 24, 2017 10:38:12 GMT
This is where I could be splitting hairs but its not MTs interest, its lenders interest paid in advance by MT
To me thats a different but subtle thing
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