andy1
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Post by andy1 on Jan 5, 2018 16:20:56 GMT
Could MoneyThing just clarify that this would be a minimum 1 months interest. (or not, if that is not the case) Must confess to not having read more than that it is being extended. I read both paragraphs of the update, quite diligently I thought, and it's not clear to me either.
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jlend
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Post by jlend on Jan 26, 2018 16:27:34 GMT
Hi MoneyThingThe last update said the loan would be repaid mid to late January Is this still the case ? Thanks
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Gruff
Posts: 63
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Post by Gruff on Feb 1, 2018 10:07:21 GMT
Hi Moneything
If loan doesn't complete by Feb 6th and new extension applied, what will be interest rate?
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Post by GSV3MIaC on Feb 1, 2018 11:36:00 GMT
And read about the end of rollover in the general updates on the site .. so you'll be in the extension, like it or not!
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Post by Badly Drawn Stickman on Feb 1, 2018 11:46:19 GMT
And read about the end of rollover in the general updates on the site .. so you'll be in the extension, like it or not! That very much moves an item from the 'pros' to the 'cons' list in my involvement with Moneything.
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Forward
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Post by Forward on Feb 6, 2018 3:09:18 GMT
Loan end date has been extended from 06/02/2018 to 12/02/2018
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jlend
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Post by jlend on Feb 6, 2018 8:24:03 GMT
Loan end date has been extended from 06/02/2018 to 12/02/2018 Thanks It would have been nice if they had posted an update on their website to say they had moved the date. They did have an earlier update saying they might have to do it. As it's only a few days it sounds like all is well with this loan.
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Post by dan1 on Feb 6, 2018 8:58:02 GMT
Loan end date has been extended from 06/02/2018 to 12/02/2018 I wonder who has funded the extension?
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archie
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Post by archie on Feb 6, 2018 9:03:20 GMT
Loan end date has been extended from 06/02/2018 to 12/02/2018 I wonder who has funded the extension? Probably just a realignment of the dates with the loan agreement as per the general update. I doubt there is an actual extension.
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Post by dan1 on Feb 6, 2018 9:19:13 GMT
I wonder who has funded the extension? Probably just a realignment of the dates with the loan agreement as per the general update. I doubt there is an actual extension. Thanks archie, I knew there must be a rational explanation but couldn't think what it could be.
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Post by Deleted on Feb 6, 2018 10:08:10 GMT
Really very interesting. I joined MT for a whole bunch of reasons but especially for the tightly controlled time limits on the loans. Now they have strategically moved to a property focused business and employed specialist property people to enhance Ed's input. Now the needs of one bunch of customers (in this case the borrowers) have trumped the needs of the other bunch of customers (the lenders) and will be allowed to "faff" with the completion dates, probably because there are now more people in the noise at the office who "know property" always gets its timings wrong. Well, frankly, I might prefer a bit of focus on what the lenders want. I liked the clarity of end dates, and while I have confidence that Ed will manage the problems he sees I don't know these new guys and how perceptive they are. What I do say is the day MT lose control of a property loan, that they have faffed the end date of, I will be out. MoneyThing
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archie
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Post by archie on Feb 6, 2018 10:22:04 GMT
Really very interesting. I joined MT for a whole bunch of reasons but especially for the tightly controlled time limits on the loans. Now they have strategically moved to a property focused business and employed specialist property people to enhance Ed's input. Now the needs of one bunch of customers (in this case the borrowers) have trumped the needs of the other bunch of customers (the lenders) and will be allowed to "faff" with the completion dates, probably because there are now more people in the noise at the office who "know property" always gets its timings wrong. Well, frankly, I might prefer a bit of focus on what the lenders want. I liked the clarity of end dates, and while I have confidence that Ed will manage the problems he sees I don't know these new guys and how perceptive they are. What I do say is the day MT lose control of a property loan, that they have faffed the end date of, I will be out. MoneyThing I think you may have misunderstood. The end dates are being realigned to be the loan length number of months after draw down rather than based on when the loan went live. This matches what the borrower signed. Future loans will be adjusted when they draw down..
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Post by brummiefred on Feb 6, 2018 10:29:39 GMT
Update posted 01/02/2018
We are waiting for confirmation from the borrower on the status of the sale. It is unlikely that the sale will complete before the 6th February and lenders should be aware that a further short extension may be necessary.
Interest paid this morning up to 06/02/18
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jlend
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Post by jlend on Feb 6, 2018 10:51:13 GMT
So it looks like there are a couple of potential reasons for the date change
1. A short extension as per the loan update
2. Alignment of dates on the website with actual dates on the loan agreement
I'm guessing it is the latter. Either way it's only a few days in this case so I can't get excited about it. A few words on the MT website whenever they change a date would be a simple way of avoiding any confusion and queries
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Post by sirkillalot on Feb 6, 2018 10:55:47 GMT
Agreed - communication even for small changes would be appreciated. Much easier than having to manually scan for the changes.
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