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Post by scoobydoo on Aug 23, 2016 9:54:20 GMT
Hi, When is interest paid on moneything loans? Is it monthly, yearly or end of term? I couldn't find that info on the site. Also, is there a way of selling loans quicker in the secondary market by offering a discount? And if not at the moment, is this a consideration for the future?
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fp
Posts: 1,008
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Post by fp on Aug 23, 2016 9:59:02 GMT
Hi, When is interest paid on moneything loans? Is it monthly, yearly or end of term? I couldn't find that info on the site. Also, is there a way of selling loans quicker in the secondary market by offering a discount? And if not at the moment, is this a consideration for the future? Interest is paid monthly. There is no real need to discount loan sales, the secondary market is fairly liquid, most loans will sell within in minutes, if not seconds of being listed. Even the two which are on there right now which "appear" to be slow moving aren't that slow, there is a steady trickle of sellers, as I had chunks in both queues which went down in no time at all.
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james
Posts: 2,205
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Post by james on Aug 23, 2016 19:03:02 GMT
Interest is paid monthly on the day of the month given in the loan end date. Some platforms pay all interest on one day, MoneyThing doesn't do that.
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Post by flobberchops on Aug 24, 2016 17:18:10 GMT
In my opinion a tip for increasing desirability (and therefore liquidity) of secondary market loans is to sell off your loan parts with highest APR first. The secondary market has had a real glut of 10% loans recently (I notice b******s FINALLY shifted) so anything higher than that will be snapped up in short order.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
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Post by Neil_P2PBlog on Aug 24, 2016 17:59:38 GMT
In my opinion a tip for increasing desirability (and therefore liquidity) of secondary market loans is to sell off your loan parts with highest APR first. The secondary market has had a real glut of 10% loans recently (I notice b******s FINALLY shifted) so anything higher than that will be snapped up in short order. That would leave you with the most undesirable loans. If you want to be able to sell easily I consider avoiding 10% altogether.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Aug 30, 2016 12:21:56 GMT
In my opinion a tip for increasing desirability (and therefore liquidity) of secondary market loans is to sell off your loan parts with highest APR first. The secondary market has had a real glut of 10% loans recently (I notice b******s FINALLY shifted) so anything higher than that will be snapped up in short order. That would leave you with the most undesirable loans. If you want to be able to sell easily I consider avoiding 10% altogether. Each to his own. I actually prefer the 10% loans when they have the extra security that the platform or intermediary takes the first 5% loss. This is not so much the fact that any loss will be diminished, it is more that the platform will take more care in assessing the risk. Just have a look at SS and FS for some fairly rash loans. I would rather have a performing loan at 10% than a defaulting one at 12% even allowing for recovery prospects, PF etc.
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