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Post by d_saver on Dec 14, 2016 15:49:46 GMT
Hi,
I've been paying attention to the secondary market in SS - It seems extreemly liquid. I was wondering if anyone had any opinions on the FS secondary market? I looked a few times and there always seems to be a lot in there, not moving, vs SS, where they don;t stay long enough for you to click on them!
I was just considering dumping some money in there for a couple months, then selling off to invest elsewhere, but wanted a little feedback on how easy that would be.
Thanks.
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SteveT
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Post by SteveT on Dec 14, 2016 15:58:16 GMT
FS newsletters give the weekly SM volumes; latest one is here: p2pindependentforum.com/post/156864Personally I wouldn't treat FS as a short term play. You should probably be able to find a buyer but you may find you have to discount your holding by more than you'd want in order to sell. |
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archie
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Post by archie on Dec 14, 2016 16:00:24 GMT
I would never buy on the sm because of the tax issues. I have sold quite a few loans though so there is some demand.
I wouldn't do it but it may work if the loans are long dated enough, loans can't be sold with 30 days or less to go.
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jamesc
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Post by jamesc on Dec 15, 2016 12:16:11 GMT
For anyone that may care there are a number of £1000 chunks now available of fairly recent loans on 2% discounts
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Post by mrclondon on Dec 15, 2016 13:00:37 GMT
To echo jamesc , there are a number of decent property loans currently on the SM at 1.5% to 2.5% discounts, and the impressionist paintings at a 1% discount; all with 100 days plus remaining so attractive to basic rate and non tax payers. Unfortunately I have no cash* otherwise I would be buying as most will be re-sellable immediately at a much lower discount. Someone is really desparate to get their money back. * About to break open the piggy bank and raid my last £1000 cash .... |
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tarq
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Post by tarq on Dec 15, 2016 13:24:30 GMT
IMO, it's virtually impossible to sell on the SM. I've had some for sale for weeks!
The trick FS do is after a while (2weeks?) they stop the sale saying 'expired', you then have to relist.
I'll bet it then goes to the bottom of the pile.
Can't wait for my remaining loans to mature & get my cash out!
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jamesc
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Post by jamesc on Dec 15, 2016 13:45:16 GMT
IMO, it's virtually impossible to sell on the SM. I've had some for sale for weeks! The trick FS do is after a while (2weeks?) they stop the sale saying 'expired', you then have to relist. I'll bet it then goes to the bottom of the pile. Can't wait for my remaining loans to mature & get my cash out! IMHO I would disagree with you, its easy to sell on the SM you just have to price it correctly you clearly are not going to sell at 0.5% discount if there is loads for sale at 1% discount. I personally have bought 10's of thousands in the last few weeks all in the SM so someone must have been selling for me to make the purchases.
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fp
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Post by fp on Dec 15, 2016 18:48:31 GMT
I've only ever not managed to sell a sum total of two loans, everything else i've had has sold at a figure favourable to me
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stevio
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Post by stevio on Dec 15, 2016 22:17:49 GMT
I've only ever not managed to sell a sum total of two loans, everything else i've had has sold at a figure favourable to me Whats your secret?
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stevio
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Post by stevio on Dec 15, 2016 22:22:48 GMT
FS newsletters give the weekly SM volumes; latest one is here: p2pindependentforum.com/post/156864Personally I wouldn't treat FS as a short term play. You should probably be able to find a buyer but you may find you have to discount your holding by more than you'd want in order to sell. Is it possible to work out what % of active loans are sold to get a ballpark idea of what proportion are selling?
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bigfoot12
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Post by bigfoot12 on Dec 15, 2016 22:34:30 GMT
I agree with fp and jamesc. I put a few parts up for sale 3 days ago and have sold more than 1/3 of them. I have been selling at a discount roughly equal to basic rate tax. |
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fp
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Post by fp on Dec 15, 2016 22:54:03 GMT
I've only ever not managed to sell a sum total of two loans, everything else i've had has sold at a figure favourable to me Whats your secret? Luck? 😂
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elliotn
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Post by elliotn on Dec 16, 2016 14:05:39 GMT
IMO, it's virtually impossible to sell on the SM. I've had some for sale for weeks! The trick FS do is after a while (2weeks?) they stop the sale saying 'expired', you then have to relist. I'll bet it then goes to the bottom of the pile. Can't wait for my remaining loans to mature & get my cash out! What discount were you offering?
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tarq
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Post by tarq on Dec 16, 2016 14:51:07 GMT
Have upped it and a couple have been sold.
A couple more to go.
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mikes1531
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Post by mikes1531 on Dec 19, 2016 1:18:22 GMT
I've only ever not managed to sell a sum total of two loans, everything else i've had has sold at a figure favourable to me Whats your secret? - Offer a larger discount than anyone else trying to sell that loan
- Sell loans with high interest rates
- Sell loans with low LTVs
- Sell loans that aren't property loans
- If you do sell property loans, sell those where the security is a first charge
- Sell small amounts
- Sell small loans (The bigger the loan, the more people already will have all they want to hold.)
But I expect most people could have guessed those thoughts themselves! 
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