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Post by westcountryfunder on Jul 3, 2015 15:20:29 GMT
During mid June I bought loan parts in PBL025 and on 30 June received interest which appears to be exactly in line with the number of days I had held those loan parts. No problem with that, but I thought I remembered reading that purchasers of existing loan parts received ALL the interest for a complete month and the seller received NOTHING for that month.
Has something changed, or was it my imagination anyway? I can find no reference to this in the T & Cs.
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Investor
Member of DD Central
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Post by Investor on Jul 3, 2015 15:23:52 GMT
Your imagination I'm afraid. The seller stops earning interest on the day it is put up for sale and earns interest up to that point once (eventually) sold. The buyer receives interest from the date of purchase. If memory serves SS receive all interest for any gap between loan going on sale and being sold. This is used to fund the annual office xmas party
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Post by westcountryfunder on Jul 3, 2015 16:07:29 GMT
Your imagination I'm afraid. The seller stops earning interest on the day it is put up for sale and earns interest up to that point once (eventually) sold. The buyer receives interest from the date of purchase. If memory serves SS receive all interest for any gap between loan going on sale and being sold. This is used to fund the annual office xmas party Thanks for the explanation. Glad I had misunderstood the position! It was a strange thing for me to have imagined, but I suppose I was vaguely right in that the seller can lose out if sale of his loan parts is delayed.
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