fp
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Post by fp on Jun 15, 2016 8:03:26 GMT
I note on some of the loans available to invest that it gives a date when interest will be paid from, lets say an investment pays interest from the 1st June and you invest on the 10th June, but the investment does not fill until the 10th July, are you earning interest from the 1st June, investment date (10th June), the time it fills (10th July).... or from when the borrower draws down cash which may for the sake of argument be 10th August, 2 months after you committed your money to the loan?
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SteveT
Member of DD Central
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Post by SteveT on Jun 15, 2016 8:41:00 GMT
Where FS give a specific date from which interest will accrue, that's the date that you'll be credited with interest from (even if you didn't buy into the loan until a few days / weeks later). However, where no date is shown, interest generally won't start accruing until the loan is activated (which cannot happen until sometime after the loan has been filled).
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fp
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Post by fp on Jun 15, 2016 10:07:07 GMT
Where FS give a specific date from which interest will accrue, that's the date that you'll be credited with interest from (even if you didn't buy into the loan until a few days / weeks later). However, where no date is shown, interest generally won't start accruing until the loan is activated (which cannot happen until sometime after the loan has been filled). I'm guessing if the borrower does not draw down, then you wont get interest at all? Makes you dubious about bidding on the ones which have been there some time with little commitment 
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Post by doorway on Jun 19, 2016 9:56:23 GMT
??
Loan does not draw down, you get no interest even if an Interest From date has been given ?
Land in Western Rhyn for example.
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Post by fundingsecure on Jun 20, 2016 7:12:50 GMT
Just to clarify.
Where a starting date for interest is given it will be paid from that date, regardless of when the bid is made.
In the rare occasions that the loan has not gone ahead the interest was still paid for the time between the start date and when the loan was cancelled. Even though no payment was received from the (potential) borrower FundingSecure funded this interest, as we consider this is fair to those investors who have placed bids.
Hopefully this clarifies the position.
FundingSecure
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