adrianc
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Post by adrianc on Apr 6, 2016 10:05:46 GMT
OK, here's a really simple question. If a loan is refinanced, does that mean that it just carries on, or is the old loan wound up, with a payout to all of the investors? If it just carries on, then doesn't that mean that a loan could be refinanced over and over, with the lenders never getting paid back (unless they go to the secondary market)? Yep. Is there a problem with that?
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Post by caveman38 on Apr 7, 2016 14:29:26 GMT
Where would you see the interest earned on a loan sold. Say you sell it on 20th. of month and earned 20 days interest, where would it appear. I can only see interest earned on current holding. Thanks
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SteveT
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Post by SteveT on Apr 7, 2016 14:31:00 GMT
Where would you see the interest earned on a loan sold. Say you sell it on 20th. of month and earned 20 days interest, where would it appear. I can only see interest earned on current holding. Thanks At the next month end's interest run, when it will be itemised in your statement
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Post by wonder on Apr 7, 2016 18:15:01 GMT
OK, here's a really simple question. If a loan is refinanced, does that mean that it just carries on, or is the old loan wound up, with a payout to all of the investors? If it just carries on, then doesn't that mean that a loan could be refinanced over and over, with the lenders never getting paid back (unless they go to the secondary market)? Yep. Is there a problem with that? No, it's fine, so long as the secondary market works well. However, if nobody wanted a loan for some reason on the secondary market, and if it gets refinanced over and over, then the time until you get paid back could, theoretically, be very long indeed. Unless, of course, I'm missing something, which is certainly more than possible.
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adrianc
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Post by adrianc on Apr 7, 2016 18:25:27 GMT
However, if nobody wanted a loan for some reason on the secondary market, and if it gets refinanced over and over, then the time until you get paid back could, theoretically, be very long indeed. Yep, it could.
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Post by turtle on Apr 7, 2016 18:35:29 GMT
Hello, very new person here. I have read this entire thread and can't find the answer I'm looking for (apologies if it is elsewhere).
This morning I deposited £100 to prefund a loan in the pipeline section (all prefunding is pipeline I think?). The £100 is showing in my available funds at the moment, when will this move to the 'live loan parts' section? When does the loan actually launch, is it when it is fully pre-funded? Do I start earning interest at the point it launches or from today as I deposited and pre-funded today? Sorry if some of these questions don't make sense, I am just trying to piece all this together in my mind.
In addition, if I invested in an SM loan and it said, for example, remaining time 12 days, does that mean (in theory) that the loan is due to be repaid by the borrower in 12 days? So if they repaid it on time you'd get 12 days interest?
Thanks in advance for any help, very much appreciated.
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Post by Deleted on Apr 7, 2016 18:55:49 GMT
Hi,
Loan goes life at random period. So we don't get to predict when they'll. We get an advance notice, but they can be cancelled at last moment (happened few times)
You earn interest from the day they go live.
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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 Apr 7, 2016 19:02:07 GMT
Hello, very new person here. I have read this entire thread and can't find the answer I'm looking for (apologies if it is elsewhere). This morning I deposited £100 to prefund a loan in the pipeline section (all prefunding is pipeline I think?). The £100 is showing in my available funds at the moment, when will this move to the 'live loan parts' section? When does the loan actually launch, is it when it is fully pre-funded? Do I start earning interest at the point it launches or from today as I deposited and pre-funded today? Sorry if some of these questions don't make sense, I am just trying to piece all this together in my mind. In addition, if I invested in an SM loan and it said, for example, remaining time 12 days, does that mean (in theory) that the loan is due to be repaid by the borrower in 12 days? So if they repaid it on time you'd get 12 days interest? Thanks in advance for any help, very much appreciated. Should be covered by FAQ on prefunding but perhaps not clear. Loans launch (and become live) when they are ready and SS give 24hr email notice. Its not dependent on the level of Prefunding. Prefunding is just how SS allocate loans to prevent everyone having to log on at launch. You earn interest from launch. You wont on any available funds. You dont need to deposit funds before launch becuase of SS invest now pay later system Yes the time remaining is theorectically the point will repay but they rarely do and yes you would get 12 days interest. See the first post in this thread & the page linked to in my signature beneath this post for further info on loans
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Post by turtle on Apr 7, 2016 19:19:16 GMT
Hello, very new person here. I have read this entire thread and can't find the answer I'm looking for (apologies if it is elsewhere). This morning I deposited £100 to prefund a loan in the pipeline section (all prefunding is pipeline I think?). The £100 is showing in my available funds at the moment, when will this move to the 'live loan parts' section? When does the loan actually launch, is it when it is fully pre-funded? Do I start earning interest at the point it launches or from today as I deposited and pre-funded today? Sorry if some of these questions don't make sense, I am just trying to piece all this together in my mind. In addition, if I invested in an SM loan and it said, for example, remaining time 12 days, does that mean (in theory) that the loan is due to be repaid by the borrower in 12 days? So if they repaid it on time you'd get 12 days interest? Thanks in advance for any help, very much appreciated. Thanks. I have read the FAQ and the whole of the rest of the thread but no it's not completely clear when you've no idea! I will have a read of your signature thread as well. Can I withdraw the £100 I deposited and just put it back in when SS ask me to? If it could in theory be weeks before it goes live I might as well have the money elsewhere earning interest for me (appreciate it's not much, but still). Or I could invest it into SM then put another £100 in when SM ask me to. Think I will do that actually.
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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 Apr 7, 2016 19:28:15 GMT
Thanks. I have read the FAQ and the whole of the rest of the thread but no it's not completely clear when you've no idea! I will have a read of your signature thread as well. Can I withdraw the £100 I deposited and just put it back in when SS ask me to? If it could in theory be weeks before it goes live I might as well have the money elsewhere earning interest for me (appreciate it's not much, but still). Yes, takes about 24hrs or invest in a loan and sell when you get advance notice email (no guarentee it will sell in time)
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Post by turtle on Apr 7, 2016 19:58:00 GMT
Yes, takes about 24hrs or invest in a loan and sell when you get advance notice email (no guarentee it will sell in time) Thanks, I have invested £50 each in 2 and will leave it there. Will fund extra £100 when I get the email then see how I get on with these 3. Really appreciate your time, thank you.
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Post by boomingaway on Apr 7, 2016 20:32:02 GMT
Hey everyone, I have around 5% of my NW on P2P sites, and wanted to add SS in the mix because of the good reviews and higher rates. I wanted to invest £2000 in SS. How do people generally diversify within SS? I think I read that the minimum is £100 loans per project. Would you recommend that I just loan to the first 20 projects or should I loan larger numbers?
I am just confused because most of the other sites recommend investing no more than 1% in a particular loan. But that doesn't seem to be an option here. Thanks in advance
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jonah
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Post by jonah on Apr 7, 2016 20:36:13 GMT
The minimum is actually 1p these days, boomingaway . Personnally I invest small numbers in all the loans that I like and nothing in those I don't. On SS thats 30+ loans currently invested. Getting in unless the SM is in feast mode can be hard, so prefunding requests on new loans is probably the simplest way to do it. That said, I would only invest in loans which pass my due diligence, even at prefunding stage. |
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Post by boomingaway on Apr 7, 2016 20:43:27 GMT
The minimum is actually 1p these days, boomingaway . Personnally I invest small numbers in all the loans that I like and nothing in those I don't. On SS thats 30+ loans currently invested. Getting in unless the SM is in feast mode can be hard, so prefunding requests on new loans is probably the simplest way to do it. That said, I would only invest in loans which pass my due diligence, even at prefunding stage. Is the minimum £100 for pre-funding? I can only seem to choose increments of 100 from the drop down menu. I can't actually find the secondary market, where is it?
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mickj
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Post by mickj on Apr 7, 2016 20:50:28 GMT
The minimum defaults to £100 in prefunding, on small loans you will get a percentage of that depending. The 'AVAILABLE LOANS' under 'LOANS' tab is the SM, only 4 active but will change depending again.
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