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 Mar 16, 2017 13:47:20 GMT
Thank you all for your friendly replies and help. I am glad to be here and want to learn! Charges: So I understand that there is a difference according to WHEN I invest. First charge is from the Available Loans and sencond charge from the Pipeline Loans, correct? If not, sorry, I can manage English reasonably but not these special terms. Solator No. A charge is a legal term. It means that the lender has a legal claim on the security offered for the loan (in this case the property), effectively thay become the owner during the loan and the borrower cant sell the property without their consent. If the borrower fails to repay the loan then the lender can dispose of the property to cover the loan. Are you familiar with the term 'mortgage'? When you buy a house in the UK the bank lends you the money (a mortgage) and takes a charge over your house, if you dont pay they can sell the house. IS it the same in Czech Rep. Its the same principle for secured P2P lending hypotéka is mortgage (hopefully  ) zástava nemovitosti maybe (bit hard to find examples in right context) A first/second charge refers to degrees of priority. I first charge means the lender is first in the queue for money made from selling the property, a second charge means the lender only gets its money after the first charge holder has had all their's. If the property doesnt make enough money to cover both charges then the second charge holder doesnt get all their money back. I think you might want to do some research on these terms as it is quite important.
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Post by Deleted on Mar 16, 2017 13:54:04 GMT
Sorry, but no.
Primary market is when the loan first becomes available
Secondary market is when the first lender sells the loan on to someone else. Because he needs the money for something else
First and second "charge" is written in the detail of the loan.
You need to read a fair bit of English to catch these terms as sometimes they are not shouted from the roof tops.
Perhaps for you you should avoid Property and lend on simpler things like jewels, gold and cars where there is less reading, in which case move on from SS.
Good luck
(written a moro responded)
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Post by solator on Mar 16, 2017 14:48:44 GMT
Thank you both, Sirs, now I understand. Yes, hypotéka is the correct word, the principle is clear. I will read more info in English and study. I love real estate so I will stay :-).
All the Best! Solator
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Post by solator on Mar 16, 2017 17:01:57 GMT
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jun 2, 2017 11:29:20 GMT
Not sure if this question has been raised before. When a loan redeems what happens to loan parts on the SM ?1. Are they automatically cancelled ? This means the lender would get paid interest for the period that the loan part was on sale. 2. Are they not cancelled ? This means Lendy bag the interest for the period that the loan part was on sale. Can Lendy Support please answer this question. |
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toffeeboy
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Post by toffeeboy on Jun 21, 2017 11:48:27 GMT
Not sure if this question has been raised before. When a loan redeems what happens to loan parts on the SM ?1. Are they automatically cancelled ? This means the lender would get paid interest for the period that the loan part was on sale. 2. Are they not cancelled ? This means Lendy bag the interest for the period that the loan part was on sale. Can Lendy Support please answer this question. sqh slight correction, the interest to the previous month has already been lost so it wouldn't be the interest for the period the loan has been on sale it would only be since the previous month end. If a loan is on sale at month end then any interest due for the sale period is forfeited.
sorry can't actually answer your question but I would guess from the way forumites talk that the interest of a loan on sale at the time of repayment would be forfeited as well. Hopefully someone at Lendy will clarify for you as I have no affiliation with them at all.
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) zástava nemovitosti maybe (bit hard to find examples in right context)