hazellend
Member of DD Central
Posts: 2,361
Likes: 2,179
|
Post by hazellend on Jan 26, 2021 10:05:40 GMT
Why recover the loan if the borrower continues to service the interest? I’d rather wait for them to default and then recover it.
|
|
|
Post by Badly Drawn Stickman on Jan 26, 2021 10:40:49 GMT
Why recover the loan if the borrower continues to service the interest? I’d rather wait for them to default and then recover it. Given the interest payments have been maintained (so clearly the borrower is making reasonable commitment) it seems bizarre to say the least. Perhaps if they were a 'mate' like the Putney borrower they could have got cheaper rates and unlimited licence to do as they please with never any mention of reprimand. I doubt we will ever get a full return on that one.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Jan 26, 2021 12:50:24 GMT
It's Moo****s modus operandi. They will sit in, get comfortable, and use their statutory powers to profit as much as they can.
|
|
ptr120
Member of DD Central
Posts: 1,197
Likes: 1,346
|
Post by ptr120 on Jan 26, 2021 17:42:14 GMT
DO they even have the contractual entitlement to withhold interest payments in this way?
|
|
boundah
Member of DD Central
Posts: 367
Likes: 430
|
Post by boundah on Jan 26, 2021 18:31:23 GMT
This has been my only consistent payer for quite a while. I may be an exception, I'm not too bothered that the latest interest (and partial capital repayment?) has been retained if it increases the likelihood of full capital return over the next few weeks.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Jan 26, 2021 20:50:10 GMT
This has been my only consistent payer for quite a while. I may be an exception, I'm not too bothered that the latest interest (and partial capital repayment?) has been retained if it increases the likelihood of full capital return over the next few weeks. It's interest only. Unfortunately the interest retained will not, in any shape or form, increase the probability of a successful refinance in the next few weeks.
|
|
|
Post by marcusponds on Jan 27, 2021 10:06:46 GMT
DO they even have the contractual entitlement to withhold interest payments in this way? Surely not? It's due under a contract between lender and borrower.
|
|
tony9239
Member of DD Central
Posts: 101
Likes: 202
|
Post by tony9239 on Mar 25, 2021 11:48:56 GMT
Interest payments have been restored starting from payment received this week, so Admins still holding Jan & Feb interest payments as a "contingency".
|
|
ptr120
Member of DD Central
Posts: 1,197
Likes: 1,346
|
Post by ptr120 on Mar 25, 2021 12:39:50 GMT
And yet no hint of the progress of refinance, or strategy for this loan
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Apr 22, 2021 14:46:32 GMT
Monthly interest payment has been credited to lender accounts
|
|
tony9239
Member of DD Central
Posts: 101
Likes: 202
|
Post by tony9239 on May 24, 2021 14:16:55 GMT
And again this month, but seems a bit short. Mine is about 8% down on usual - was April a very short month this year??
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on May 24, 2021 14:48:12 GMT
I agree that it looks a bit short. I make it 6.67% down on what I would expect for a 30-day month (e.g. comparing with last Nov).
The payment seems to agree with what I would expect for 28 days. My guess is that after the administrators paused the interest payments, they are now releasing them two months behind schedule. So we have now just received the payment that we should have got in March (i.e. the payment that included February's 28 days).
|
|
tony9239
Member of DD Central
Posts: 101
Likes: 202
|
Post by tony9239 on May 25, 2021 9:18:00 GMT
I agree that it looks a bit short. I make it 6.67% down on what I would expect for a 30-day month (e.g. comparing with last Nov).
The payment seems to agree with what I would expect for 28 days. My guess is that after the administrators paused the interest payments, they are now releasing them two months behind schedule. So we have now just received the payment that we should have got in March (i.e. the payment that included February's 28 days).
Gosh, I think you're right. Did you used to be a detective by any chance?
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on May 25, 2021 11:40:18 GMT
I agree that it looks a bit short. I make it 6.67% down on what I would expect for a 30-day month (e.g. comparing with last Nov).
The payment seems to agree with what I would expect for 28 days. My guess is that after the administrators paused the interest payments, they are now releasing them two months behind schedule. So we have now just received the payment that we should have got in March (i.e. the payment that included February's 28 days).
Gosh, I think you're right. Did you used to be a detective by any chance?
If only I had been that exciting. I used to be an actuary...
|
|
neeps
Posts: 79
Likes: 118
|
Post by neeps on Jul 22, 2021 16:35:08 GMT
Interest has been paid chaps!!
|
|