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Post by andrewholgate on Nov 27, 2013 9:33:15 GMT
Again, thoughts please
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317 
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Post by JamesFrance on Nov 27, 2013 9:45:27 GMT
Voted yes, this could make a quicker sale for anyone in urgent need of cash.
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Post by batchoy on Nov 27, 2013 9:51:30 GMT
As I mentioned in an another thread I am not against being able to give a discount or charge a premium on loan in the secondary market, there are times when people may need to rapidly liquidate their assets and are willing to take the hit in order to do so and no one is forced to pay the premium. However this needs to be predicated on two factors. - That access to the primary market is free and fair.
- That sales in the secondary market should not distort the operation of the primary market
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Post by jackpease on Nov 27, 2013 10:04:05 GMT
I am not aware of any possible downside to allowing unlimited discounting for those needing money quick
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Post by jevans4949 on Nov 27, 2013 10:07:58 GMT
Also, as I mentioned elsewhere, necessary for executors when market interest rates have risen since the loan was made.
In addition, it would be useful to have the ability to sell loan bids not yet drawn down
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on Nov 27, 2013 10:45:01 GMT
This would be a sensible and reasonable facility fo reasons already expressed above. I think most loan parts might well be snapped up at par anyway, and solicitors/executors don't need the cash in a day. My late brother's estate unravelling took three years!
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Post by oldnick on Nov 27, 2013 11:02:58 GMT
Yes to the after market discount option. We should have the freedom to sell whatever the prevailing market conditions are. That might necessitate a discount to 'shift the goods'.
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jo
Member of DD Central
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Post by jo on Nov 27, 2013 11:03:49 GMT
Yes.
Ability for lenders/estates to liquidate books quickly.
Difficult to see underlying market rates falling - so would allow adjustment for eventual official market rate rises.
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mark
Posts: 163
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Post by mark on Nov 27, 2013 12:11:32 GMT
Yes, of course, all premiums and discounts should be allowed
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TFTO
Member of DD Central
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Post by TFTO on Nov 27, 2013 12:42:39 GMT
I have voted yes as sellers may need to recoup their investment quickly and also if we allow a premium we should allow discount.
Chris.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 27, 2013 14:28:00 GMT
Yes for lots of reasons.
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Post by batchoy on Nov 27, 2013 15:45:56 GMT
One thought which comes to mind would the selling fee apply to the full price or the discounted price?
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mark
Posts: 163
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Post by mark on Nov 27, 2013 16:20:46 GMT
Two interesting polls. On premiums, it seems that there is a view that could be portrayed as a position of fairness but could also be veiwed as petty envy, that wants to stop, restrict, limit , ban the opportunity for investors to have the facility to offer their loan parts for sale to other investors at a premium.
Yet on discounts ,the position of the same investors is that discounts should be allowed. Of course, those arguing this position, I guess, would like the opportunity to benefit from buying a discounted loan part, and rightfully so, and therefore they should be able to benefit from lenders selling their loan parts at a discount and a loss. As long as ' they ' can make a buck I guess.
My position is whilst I have never flipped a loan part I defend the right of all lenders to do so if they wish to.
Lets keep mock Socialism and the politics of envy out of Assetz Capital.
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on Nov 27, 2013 16:25:49 GMT
Good wheeze that! Buy at 3% discount, wait a few days until all the discount parts have gone, then resell them at 3% premium to new investors wanting to spread their money. Better than FC!!  edit: Hey, Andrew.... the worms are surfacing in this thread now!!  |
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Nov 27, 2013 18:12:38 GMT
Two interesting polls. On premiums, it seems that there is a view that could be portrayed as a position of fairness but could also be veiwed as petty envy, that wants to stop, restrict, limit , ban the opportunity for investors to have the facility to offer their loan parts for sale to other investors at a premium. Yet on discounts ,the position of the same investors is that discounts should be allowed. Of course, those arguing this position, I guess, would like the opportunity to benefit from buying a discounted loan part, and rightfully so, and therefore they should be able to benefit from lenders selling their loan parts at a discount and a loss. As long as ' they ' can make a buck I guess. My position is whilst I have never flipped a loan part I defend the right of all lenders to do so if they wish to. Lets keep mock Socialism and the politics of envy out of Assetz Capital. Don't know where politics and Socialism comes into this? Just trying to keep out some of the bad stuff like quantitative flipping by a small but cash rich minority as per FC.
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