SteveT
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Post by SteveT on Sept 11, 2015 15:51:37 GMT
When you sell a loan on SS, what happens with the interest accrued to date, do you just lose that interest? When I sell a loan, it seems to just add the amount that I paid for the loan ton my account without any interest? You get it at the month end as usual.
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stevio
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Post by stevio on Sept 11, 2015 15:58:33 GMT
Thanks Stevet
Can I just confirm interest is added end of month?
This tends to suggest when loan is repaid?
Once your designated loan part sells completely, the loan part value will be credited to your available balance less the interest earned. The interest earned will be credited to your available balance upon repayment of the loan. Interest will cease to accrue on your loan part at the point at which you confirm you wish to sell it.
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Investor
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Post by Investor on Sept 11, 2015 16:02:03 GMT
Left over information from the old Boaty loans days I'm afraid. Hopefully savingstream will spot this and edit it. You will get it at the end of the month for the number of days you have held it that month UP UNTIL the time you put it up for sale, not until the time it is sold although these dates are usually the same with the current liquidity of the SM. The buyer will then have the remaining interest from the purchase date until the month end. |
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stevio
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Post by stevio on Sept 11, 2015 16:15:16 GMT
Great thanks for the confirmation! Good that the investors know more than the information on the actual site lol  |
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Investor
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Post by Investor on Sept 11, 2015 16:19:51 GMT
In all honesty it wouldn't be far from the truth in saying that many of the P2P websites have been designed with significant input from this forum. Obviously RS is the exception, no one on this forum would ever have been involved in that
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jonah
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Post by jonah on Sept 11, 2015 16:32:27 GMT
In all honesty it wouldn't be far from the truth in saying that many of the P2P websites have been designed with significant input from this forum. Obviously RS is the exception, no one on this forum would ever have been involved in that Purple anyone?
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