archie
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Post by archie on May 24, 2017 9:24:05 GMT
Do loans now only pay interest from when they are fully-funded? Did they always? I thought I recalled that interest was paid from investment, and so expected a day's interest on this loan this morning (as it ends on the 24th). The interest is an insignificant amount so not bothered either way just curious. I suspect you'll get the interest from investment but not until next month.
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Post by sannytwist on May 24, 2017 10:29:13 GMT
Never seen a such a big loan been lent out so quickly, 35% only left !
Wished l had more spare cash
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fasty
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Post by fasty on May 24, 2017 10:39:21 GMT
Do loans now only pay interest from when they are fully-funded? Did they always? I thought I recalled that interest was paid from investment, and so expected a day's interest on this loan this morning (as it ends on the 24th). The interest is an insignificant amount so not bothered either way just curious. Under the new T&C's, pre-drawdown "interest" is paid for by MT, at the point the loan draws down, for the number of days you've held the loanpart. The borrower then takes over paying monthly thereafter. Ah, does that mean it's not eligible for tax until drawdown? (i.e. is it an incentive to trade rather than interest?)
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SteveT
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Post by SteveT on May 24, 2017 11:24:55 GMT
In which case, MoneyThing, it would be better to categorise payments for any pre-drawdown period as "Credit" in the transaction statement (or something else new), rather than as "Interest". Otherwise they will presumably get included along with normal borrower-paid interest in next year's Tax Statement.
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jamesc
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Post by jamesc on May 24, 2017 14:25:38 GMT
Nearly £2mln funded in less than 24 hours congrats MT (Its amazing what difference what that extra 1% makes !).
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Post by MoneyThing on May 24, 2017 14:40:46 GMT
In which case, MoneyThing , it would be better to categorise payments for any pre-drawdown period as "Credit" in the transaction statement (or something else new), rather than as "Interest". Otherwise they will presumably get included along with normal borrower-paid interest in next year's Tax Statement. Acknowledged. I just want to see if I can seek some advice on this first. (As I have often found with tax matters, for every expert there seems to be an equal and opposite expert). Regards, Ed.
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mikeh
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Post by mikeh on May 24, 2017 14:56:20 GMT
Nearly £2mln funded in less than 24 hours congrats MT (Its amazing what difference what that extra 1% makes !). I'm thinking this could fill up very quickly now.
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vmail
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Post by vmail on May 24, 2017 15:00:30 GMT
Got my 2nd lot before 16:00:11
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treeman
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Post by treeman on May 24, 2017 15:05:41 GMT
Nearly £2mln funded in less than 24 hours congrats MT (Its amazing what difference what that extra 1% makes !). I'm thinking this could fill up very quickly now. Indeed - just had a couple of sales which have topped me up bit. Seen plenty of decent 5 figs go through - one of £50k
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SteveT
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Post by SteveT on May 24, 2017 15:07:25 GMT
I'm thinking this could fill up very quickly now. Indeed - just had a couple of sales which have topped me up bit. Seen plenty of decent 5 figs go through - one of £50k Followed by a £150k
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treeman
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Post by treeman on May 24, 2017 15:09:17 GMT
Indeed - just had a couple of sales which have topped me up bit. Seen plenty of decent 5 figs go through - one of £50k Followed by a £150k possibly by the same bidder - both shown as r***e
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Post by scoobydoo on May 24, 2017 15:14:38 GMT
Who is this r***e? He/She also did multiple 10k buys before 4pm even though the max was 10k for the 24 hours! Strange...
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treeman
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Post by treeman on May 24, 2017 15:18:07 GMT
The non-literal redaction makes it impossible to know how many investors would show as r***e ............
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archie
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Post by archie on May 24, 2017 15:21:42 GMT
45K left
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GeorgeT
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Post by GeorgeT on May 24, 2017 15:22:37 GMT
£2.5 million invested in 1 day. A few weeks ago, the question was posed - Is the loan too big for MT? Today we have an emphatic answer. No! 13% was skilfully deployed to ensure this one took off, but this has done much more than that. There is now record enthusiasm for MT and more investors than ever. All waiting in the wings for the next offering. 12.5% on the next biggie should fill it in a day.
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