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Post by webbski9 on Sept 14, 2015 8:11:13 GMT
Good morning Twino. Do you have any plans to offer longer maturity loans ? Also, does a Secondary Market feature in your development ideas?
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Sept 14, 2015 8:33:39 GMT
I have sold a few loans on the secondary market, If you look at your list of investments there is a sell button beside every loan.
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Post by webbski9 on Sept 14, 2015 8:41:04 GMT
James.Thank you for pointing that out.Specsavers will be receiving a call !!!
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Rob
Posts: 138
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Post by Rob on Oct 7, 2015 10:04:13 GMT
I don't understand why lots of people are selling their loan shares. As far as I can tell from the website (explanations are sketchy), you can only sell your share at face value (no premium or discount), though there is no fee by Twino for doing so. With the buyback guarantee, why sell your share? Am I missing something?
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mikeh
Member of DD Central
Posts: 499
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Post by mikeh on Oct 10, 2015 12:40:21 GMT
I don't understand why lots of people are selling their loan shares. As far as I can tell from the website (explanations are sketchy), you can only sell your share at face value (no premium or discount), though there is no fee by Twino for doing so. With the buyback guarantee, why sell your share? Am I missing something? On joining a new P2P site I like to try out all the features to see how they work. So this is one possible reason for the sale offers.
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Post by wiseclerk on Oct 10, 2015 12:42:26 GMT
My perception is that they sell to have cash available to invest into higher interest rate offers
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jimc99
Member of DD Central
Posts: 284
Likes: 115
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Post by jimc99 on Oct 19, 2015 7:59:35 GMT
Has anyone knowledge of loans actually being bought back by Twino? It looks like they simply extend the term of the loans rather than ever write them off?
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Rob
Posts: 138
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Post by Rob on Oct 19, 2015 8:48:59 GMT
Has anyone knowledge of loans actually being bought back by Twino? It looks like they simply extend the term of the loans rather than ever write them off? The borrower can extend the loan 6 times before Twino will then buy it back. But I haven't invested here long enough to actually see this myself.
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Rob
Posts: 138
Likes: 36
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Post by Rob on Oct 25, 2015 13:37:45 GMT
The borrower can extend the loan 6 times before Twino will then buy it back. But I haven't invested here long enough to actually see this myself. I now have a loan which was extended for the 6th time on 21/10/2015, but it hasn't been bought back yet!! I have asked customer support for info.
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Post by Deleted on Oct 26, 2015 8:07:04 GMT
Think this might be last time it'll be extended.
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Rob
Posts: 138
Likes: 36
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Post by Rob on Oct 26, 2015 11:37:41 GMT
I now have a loan which was extended for the 6th time on 21/10/2015, but it hasn't been bought back yet!! I have asked customer support for info. Twino tell me that the loan will be bought back if one more extension is made. So when they say in the FAQ's "After six extensions, TWINO will buy back the loan.", what they really mean is that it will be bought back on the 7th. extension.
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Post by red_panda on Oct 26, 2015 17:52:45 GMT
I always understood it correctly. Loan can get 6 extensions, if it is late 7th time it will no longer be allowed to be extended and Twino will buy it back.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Oct 27, 2015 8:20:38 GMT
I just had a loan bought back by Twino which was never extended but had not made any payments. The third payment was due today and the loan was bought back with the full 3 months interest.
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Rob
Posts: 138
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Post by Rob on Oct 27, 2015 9:28:08 GMT
I just had a loan bought back by Twino which was never extended but had not made any payments. The third payment was due today and the loan was bought back with the full 3 months interest. So when they say "All TWINO investors reserve an option to put their shares of loans up for sale. However, investors who have invested in the BuyBack guaranteed loans may benefit from postponing this sale, as TWINO would buy any of these loans back after a 60 day period of delinquency.", what they really mean is 2 months (a month counts as 30 days) after a payment was due but not paid, they will buy it back.
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shimself
Member of DD Central
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Post by shimself on Oct 27, 2015 11:11:18 GMT
Given the utter paucity of information about the borrowwer which are just supposed income X supposed outgiongs Y isn't the thing to do just go for highest interest rate full stop?
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