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Post by webbski9 on Jun 14, 2014 14:20:23 GMT
Hi guys.
Is there anywhere on your platform where its possible to see upcoming repayments ( inc dates) from borrowers? A sort of cash-flow forecast if you will.
Regards
Webbski
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Post by emoney on Jun 28, 2014 6:41:23 GMT
Good morning Webbski9, We will certainly look at this option in our next planning meeting, as a guide borrowers can choose their 1st and consequent loan repayments between 5 and 24 days after loan completion. When the loan repayments hit the eMoneyUnion client account, the credit to a lenders eMoneyUnion account is the same working day.
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Post by webbski9 on Jun 28, 2014 16:28:22 GMT
Thank you EMU...I look forward to the enhancement.
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Post by rthompson8811 on Oct 22, 2014 22:21:28 GMT
Hi guys. Is there anywhere on your platform where its possible to see upcoming repayments ( inc dates) from borrowers? A sort of cash-flow forecast if you will. Regards Webbski This would be good - being able to see when you'll get repayments. I've bought my first micro loans, had the first repayment off one, but not the other, and I don't know when it's due. I also have another query. What's the difference between "Capt + Int" payments and "Int Only" payments? Does int only mean I won't get my capital back, or does it all come back in the final payment? 
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Post by emoney on Oct 27, 2014 14:14:23 GMT
Good morning, We are working on showing the loan repayment due date at the moment, all loan payments are being repaid to lenders as and when due, so eMicroLoans should be the same  Interest only loans mean that the outstanding balance gets paid in full at a predetermined time or earlier if the loan is redeemed in full, i.e. if you have a £2,000 loan part/unit and it generates 10% per annum you will receive £16.67 p.m. interest = £200 p.a. until your loan is repaid in full which is when you will received the full £2,000 back. I hope this answers your questions. |
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Post by rthompson8811 on Oct 30, 2014 0:41:49 GMT
Sorry, I'm a little new to all this... So with your example, would you only get the 2,000 back, or the 10% interest as well?
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Post by pepperpot on Oct 30, 2014 1:44:49 GMT
Sorry, I'm a little new to all this... So with your example, would you only get the 2,000 back, or the 10% interest as well? Forgive me if this is a bit OTT but it sounds like you are starting from the beginning, so... The initial £2k loan unit would generate £200 p/a of interest (10%), which you receive as monthly payments of £16.67. At the end of the term (say 5yrs) you would have received 60 x £16.67 monthly payments and then your initial stake of £2k is due to be returned to you as a bullet payment. The common alternative, is an 'amortizing' loan (i.e. cap+int), in which a portion of the initial stake is returned to you each month along with the interest payments in steadily increasing (capital portion) and decreasing (interest portion) amounts. So at the start your monthly payments are made up of more interest than capital and at the end, vice versa, all of which will total all the capital and interest due to you. Then we get onto 5 yr loans with a 20yr amortization profile, that's when it starts to get interesting, but there's time for that. Keep reading the forum and asking questions, as it's not only you but everyone doing research into P2P reading these boards that benefits from the answers. The real trick once you have a handle on the rates is getting a good 'nose' for the risk/reward ratio, i.e. is the 10% worth risking you capital for in the first place, what is the chance of the borrower defaulting and not being able to repay the initial stake. This is usually mitigated by either taking security (commonly property) to back the loan or by spreading the initial stake of £2k between 100 different borrowers, each getting £20 of your hard earned so that if one of them defaults it doesn't impact your capital too badly and the interest from the other 99 more than makes up for it whilst still giving you a reasonable rate of return. Hope I've helped more than bamboozled.
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Post by rthompson8811 on Oct 30, 2014 12:11:22 GMT
Sorry, I'm a little new to all this... So with your example, would you only get the 2,000 back, or the 10% interest as well? Forgive me if this is a bit OTT but it sounds like you are starting from the beginning, so... The initial £2k loan unit would generate £200 p/a of interest (10%), which you receive as monthly payments of £16.67. At the end of the term (say 5yrs) you would have received 60 x £16.67 monthly payments and then your initial stake of £2k is due to be returned to you as a bullet payment. The common alternative, is an 'amortizing' loan (i.e. cap+int), in which a portion of the initial stake is returned to you each month along with the interest payments in steadily increasing (capital portion) and decreasing (interest portion) amounts. So at the start your monthly payments are made up of more interest than capital and at the end, vice versa, all of which will total all the capital and interest due to you. Then we get onto 5 yr loans with a 20yr amortization profile, that's when it starts to get interesting, but there's time for that. Keep reading the forum and asking questions, as it's not only you but everyone doing research into P2P reading these boards that benefits from the answers. The real trick once you have a handle on the rates is getting a good 'nose' for the risk/reward ratio, i.e. is the 10% worth risking you capital for in the first place, what is the chance of the borrower defaulting and not being able to repay the initial stake. This is usually mitigated by either taking security (commonly property) to back the loan or by spreading the initial stake of £2k between 100 different borrowers, each getting £20 of your hard earned so that if one of them defaults it doesn't impact your capital too badly and the interest from the other 99 more than makes up for it whilst still giving you a reasonable rate of return. Hope I've helped more than bamboozled. Thanks, that really helped!
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