bob76
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Post by bob76 on Sept 18, 2015 17:46:46 GMT
I don't think it's very clear when interest is actually paid to investors.
I am assuming that interest is only paid when a loan is repaid, to whoever owns the loan part at that time?
If I buy a loan today, and sell it tomorrow, I wouldn't get an interest paid?
B.
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Post by marek63 on Sept 18, 2015 17:55:37 GMT
Interest is paid monthly on the 1st in arrears on normal loans. If you put a loan on SM then you cease to get interest. When it is listed you are eligible to get the interest up to the date of sale (when the interest is paid) and then the buyer gets interest from date of purchase.. The interest in between goes to SS.
This is my understanding (I certainly get paid on 1st) but happy to be enlightened further.
As you say, If you buy a loan today and sell it tomorrow then you might well get no interest because of the SM rules. Compared with TC (1%) and FC (0.25% ??) then this is a great SM.
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SteveT
Member of DD Central
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Post by SteveT on Sept 18, 2015 18:13:42 GMT
That's right. If Lender A owns a loan part at the start of a (30 day) month, lists it for sale after 14 days, and it is bought by lender B 2 days later, then both A and B will receive 14 days interest at the month-end. The interest relating to the 2 days the loan part spent on the SM is not paid out (effectively helps pay for the Provision Fund!)
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Post by pepperpot on Sept 18, 2015 18:25:48 GMT
Interest is paid monthly on the 1st in arrears on normal loans. If you put a loan on SM then you cease to get interest. When it is listed you are eligible to get the interest up to the date of sale (when the interest is paid) and then the buyer gets interest from date of purchase.. The interest in between goes to SS. This is my understanding (I certainly get paid on 1st) but happy to be enlightened further. As you say, If you buy a loan today and sell it tomorrow then you might well get no interest because of the SM rules. Compared with TC (1%) and FC (0.25% ??) then this is a great SM. I bought a bit of pebble 32 last night, at least, after normal office hours. I got 1 days interest today when it repaid. All loans you hold that are not up for sale accrue at midnight.
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awk
Posts: 276
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Post by awk on Jan 1, 2016 16:19:25 GMT
Does anyone know when December interest will be credited given when the 1st falls ?
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ben
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Post by ben on Jan 1, 2016 16:58:32 GMT
think its already started
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ablender
Member of DD Central
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Post by ablender on Jan 1, 2016 17:03:57 GMT
think it has already finished.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jan 1, 2016 20:02:57 GMT
Well done Saving Stream, very prompt. I doubt anyone else will pay out on a Bank Holiday!
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Post by snappyfish on Jan 1, 2016 20:06:34 GMT
My very first ss payment today.  |
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agent69
Member of DD Central
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Post by agent69 on Jan 1, 2016 20:06:44 GMT
All we need now is something to spend it on.
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ben
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Post by ben on Jan 1, 2016 20:09:51 GMT
All we need now is something to spend it on. there been a bit of movement on secondary market today I would think another loan would be coming next week would think they were holding back due to 73 and Christmas/new year
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Post by snappyfish on Jan 1, 2016 20:10:35 GMT
I'm to tight.. it's going back in, something about making money from money I just made |
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Post by trentenders on Jan 1, 2016 20:16:09 GMT
Well done Saving Stream, very prompt. I doubt anyone else will pay out on a Bank Holiday! MT did
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 1, 2016 20:29:33 GMT
All we need now is something to spend it on. there been a bit of movement on secondary market today I would think another loan would be coming next week would think they were holding back due to 73 and Christmas/new year Should be 2 at least. Nobody can be on extended holidays as apparently there's no snow 
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ben
Posts: 2,020
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Post by ben on Jan 1, 2016 20:30:51 GMT
Well done Saving Stream, very prompt. I doubt anyone else will pay out on a Bank Holiday! MT did think MT is automatic rather then once a month, although not sure how much manual work SS need to do doubt somebody sat there with their calculator the pence on each loan segment
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