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Post by Badly Drawn Stickman on Jun 24, 2019 8:41:51 GMT
That it what happens in some shape or other on every platform I am aware of (The now defunct lendy bonus interest, being the only variation I can recall). Of those platforms I've used historically, Funding Circle, Funding Secure, Ablrate, Huddle and Blend all operate SM's on the basis that the Buyer takes over the right to receive as-yet-unpaid accrued interest from the Seller (either explicitly or implicitly paying the Seller for this as part of the purchase price). I dare say there are others. Yes, but its the same principle just different 'shapes'. It could be argued that the MT variant is better for the buyer. Although I have no knowledge of Huddle or Blend I have heard tales of people on FC (admittedly not possible these days) selling loans knowing fairly well that the buyer had a slim chance of ever recovering the interest they had purchased, shocking behavior.
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micky
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Post by micky on Jun 27, 2019 16:44:24 GMT
More importantly is it being repaid tomorrow?
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averageguy
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Post by averageguy on Jun 27, 2019 19:19:41 GMT
More importantly is it being repaid tomorrow? Did email MT earlier today about repayment this week...no reply to date
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badersleg
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Post by badersleg on Jun 27, 2019 21:25:56 GMT
More importantly is it being repaid tomorrow? Did email MT earlier today about repayment this week...no reply to date I don't think they'd be allowed to tell you by email as it would be unfair on everyone else, especially those who had it on sale on the SM I expect the first we know about a repayment will be the loans disappearing off the SM.
Tim
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ptr120
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Post by ptr120 on Jun 27, 2019 22:22:40 GMT
Based on their form to date (both the platform and the borrower) there is no chance this is going to repay in time.
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averageguy
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Post by averageguy on Jun 28, 2019 8:58:17 GMT
Did email MT earlier today about repayment this week...no reply to date I don't think they'd be allowed to tell you by email as it would be unfair on everyone else, especially those who had it on sale on the SM I expect the first we know about a repayment will be the loans disappearing off the SM.
Tim
No I wasn’t expecting them to..but generally I’ve found once emailed they do tend to update the site within the next few days
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micky
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Post by micky on Jun 28, 2019 9:37:05 GMT
Could be today. Update on the site.
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Post by sirkillalot on Jun 28, 2019 9:47:09 GMT
Yes looking more likely that this one will pay off very soon. Will be interesting to see how circa $2.5m of repayments impacts the SM.
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robski
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Post by robski on Jun 28, 2019 10:13:18 GMT
I was trying to work out, was it really early Feb last time we had any interest on this?
Will be sad to see this one gone, personally I think it was a very strong reward vs risk balance, the security looked good and had an obvious out should it have fallen into trouble (assuming previous updates we fair)
Cant see many using repayments from this for SM purchases, I bet most of us have enough of those other loans as well
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KoR_Wraith
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Post by KoR_Wraith on Jun 28, 2019 10:32:42 GMT
Moneything will be wishing they had some of those new 8-10% loans ready to launch when this repays...
This loan is amongst my largest holdings on the platform, I'm very relieved to see a positive end in sight.
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coop
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Post by coop on Jun 28, 2019 10:40:21 GMT
Still loads at 1% discount fora few hour long loan for anyone brave enough
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Post by Badly Drawn Stickman on Jun 28, 2019 10:57:32 GMT
Well the rotund lady may have entered stage right, but to date has not sang.
Hopefully completes today would certainly restore a bit of faith, and pay for my next holiday with the interest.
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coop
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Post by coop on Jun 28, 2019 11:14:06 GMT
Well the rotund lady may have entered stage right, but to date has not sang. Hopefully completes today would certainly restore a bit of faith, and pay for my next holiday with the interest. Speaking of which when did this last pay interest?
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ali
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Post by ali on Jun 28, 2019 11:18:02 GMT
Well the rotund lady may have entered stage right, but to date has not sang. Hopefully completes today would certainly restore a bit of faith, and pay for my next holiday with the interest. Speaking of which when did this last pay interest? 19th Jan by my reckoning.
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coop
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Post by coop on Jun 28, 2019 11:21:04 GMT
Speaking of which when did this last pay interest? 19th Jan by my reckoning. So we're due about 6%ish. which by my reckoning means village idiot either has quite a lot in this loan or very cheap holidays
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