Post by webwiz on Aug 16, 2015 11:00:34 GMT
Can someone tell me what happens when:
1) A property with a first charge to a p2b platform is sold by the owner. Does the buyer's cash go via the seller to the platform or directly to the platform?
2) A property with a second charge to a p2b platform is sold because the borrower defaults. Does the first charge holder take possession and dispose of the property (and so will be motivated to get his money back asap)? If so can the p2b platform buy out the first charge holder so as to take charge of the disposal to maximise the return?
3) Any other relevant tit bits.
1) A property with a first charge to a p2b platform is sold by the owner. Does the buyer's cash go via the seller to the platform or directly to the platform?
2) A property with a second charge to a p2b platform is sold because the borrower defaults. Does the first charge holder take possession and dispose of the property (and so will be motivated to get his money back asap)? If so can the p2b platform buy out the first charge holder so as to take charge of the disposal to maximise the return?
3) Any other relevant tit bits.
