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Post by Deleted on Feb 17, 2015 17:07:41 GMT
Well, "tomorrow" is nearly over and no news yet?
I hope it won't be a case of 7th time unlucky (I checked back and so far there have been 7 weekly updates in which SS have said this loan will drawdown on x week or x day (going back to Dec 19th update) and every date has come and gone.
Fingers still crossed here! Champagne on ice ...
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star dust
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Post by star dust on Feb 17, 2015 17:16:11 GMT
Wot, you spending your cash-back before you've got it?  .
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Feb 17, 2015 17:23:05 GMT
Wot, you spending your cash-back before you've got it? . He might as well - nothing to invest it in 
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star dust
Member of DD Central
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Post by star dust on Feb 17, 2015 17:40:45 GMT
Wot, you spending your cash-back before you've got it? . He might as well - nothing to invest it in Well I don't know, there's a bit of negative equity in there at the moment.  .
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webwiz
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Post by webwiz on Feb 17, 2015 20:43:31 GMT
If I sell a loan part before it has been drawn down do I still keep the interest accrued to date?
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Post by Deleted on Feb 17, 2015 21:01:35 GMT
If I sell a loan part before it has been drawn down do I still keep the interest accrued to date? Yes. But you won't get the cashback. The cashback is payable to the holder of the loan part when it draws down. It's a bit like musical chairs really. Whoever is holding on draw down gets the cashback. But you'd still get your 12% for the time you had been invested in it.
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webwiz
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Post by webwiz on Feb 17, 2015 21:06:15 GMT
If I sell a loan part before it has been drawn down do I still keep the interest accrued to date? Yes. But you won't get the cashback. The cashback is payable to the holder of the loan part when it draws down. It's a bit like musical chairs really. Whoever is holding on draw down gets the cashback. But you'd still get your 12% for the time you had been invested in it. Thanks ff. And how can I tell from my loan book whether I qualify for cashback?
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Post by pepperpot on Feb 17, 2015 21:29:45 GMT
Yes. But you won't get the cashback. The cashback is payable to the holder of the loan part when it draws down. It's a bit like musical chairs really. Whoever is holding on draw down gets the cashback. But you'd still get your 12% for the time you had been invested in it. Thanks ff. And how can I tell from my loan book whether I qualify for cashback? You can't tell from the loan book, but each loan that still shows the " 0.5% CASHBACK available for pre-drawdown investments" under the 'descriptions & documents' tab in the main Loans list should still qualify if you hold it at the point it draws, so you'd need to check the loan pages of the ones that are listed as 'No' in the drawndown column.
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paulg
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Post by paulg on Feb 17, 2015 22:02:12 GMT
Yes. But you won't get the cashback. The cashback is payable to the holder of the loan part when it draws down. It's a bit like musical chairs really. Whoever is holding on draw down gets the cashback. But you'd still get your 12% for the time you had been invested in it. Thanks ff. And how can I tell from my loan book whether I qualify for cashback? The loans still qualifying for cashback are PBL 016, 017, 018, 019 and 020.
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mikes1531
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Post by mikes1531 on Feb 18, 2015 10:30:06 GMT
Wiil it or won't it .. that is the question. Fingers crossed. It won't. Not Monday or Tuesday, anyway.
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paulg
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Post by paulg on Feb 18, 2015 10:51:18 GMT
Wiil it or won't it .. that is the question. Fingers crossed. It won't. Not Monday or Tuesday, anyway. Well, actually PBL 020 may have been drawn down yesterday. PBL 005 has been over-funded for nearly 24 hours now, so the SS website hasn't been updated since then.
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mikes1531
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Post by mikes1531 on Feb 18, 2015 12:13:52 GMT
It won't. Not Monday or Tuesday, anyway. Well, actually PBL 020 may have been drawn down yesterday. PBL 005 has been over-funded for nearly 24 hours now, so the SS website hasn't been updated since then. There's a chance that's possible, but I'd have expected SS to announce that drawdown had occurred as soon as they had confirmation of that because so many people have been waiting so long. And they're usually very quick at crediting the pre-drawdown interest and cashback to lenders. Perhaps today will be our lucky day.
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Post by savingstream on Feb 18, 2015 13:28:40 GMT
Sorry to be the bearer of bad news but it is not looking like it will be today either. We are ready to go, our solicitors are ready to go but the purchase is very complicated and relies on other funding to cover all stock. The finance company that is providing this line of finance to the buyer are dragging their feet considerably. There is nothing we can do to speed this process up at present. We are as keen for this to complete as you guys are.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Feb 18, 2015 16:22:08 GMT
Sorry to be the bearer of bad news but it is not looking like it will be today either. We are ready to go, our solicitors are ready to go but the purchase is very complicated and relies on other funding to cover all stock. The finance company that is providing this line of finance to the buyer are dragging their feet considerably. There is nothing we can do to speed this process up at present. We are as keen for this to complete as you guys are. My experience of these "complicated" deals on other p2p platforms, is that they take many weeks to sort out, and some get aborted. Is the borrower covering the interest payments that are accruing ?
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elgerod
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Post by elgerod on Feb 19, 2015 23:56:47 GMT
Wiil it or won't it .. that is the question. Fingers crossed. It won't. Not Monday or Tuesday, anyway. Nor Wednesday  Nor Thursday  
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