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Post by elephantrosie on Jun 1, 2017 21:57:20 GMT
Taking forever to sell a loan. Have all investors left/ leaving MT?
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Post by sannytwist on Jun 1, 2017 22:27:40 GMT
When you put your loans on SM to sell, the interest effectively stops rite? Just wanted to make sure, my loans are also not selling  |
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Post by lendinglawyer on Jun 1, 2017 22:50:21 GMT
Actually I suspect investors have flocked to MT recently. The slow selling is because there have been so many new loans (on various platforms) recently. So people have put and continue to put their money into those rather than SM purchases. Probably the SM will be empty again in future at which point you can sell quickly but until then you'll have to join the queue. The SM is only a viable path to liquidity when there are willing buyers. You should never assume you'll be able to sell out on demand as recent history on the major platforms shows.
This sounds a lot like a few of my posts on the Lendy board. Shoxk horror similar investor gripes have appeared re fundamentally similar offerings...
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mikeh
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Post by mikeh on Jun 1, 2017 23:00:06 GMT
When you put your loans on SM to sell, the interest effectively stops rite? Just wanted to make sure, my loans are also not selling No. On MT interest continues as normal.
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bababill
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Post by bababill on Jun 1, 2017 23:00:57 GMT
My Edinburgh loan not selling either.
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Post by Deleted on Jun 1, 2017 23:30:58 GMT
There are some chunky repayments imminent too, should free up some money for the new stuff
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Post by eascogo on Jun 2, 2017 0:06:22 GMT
There are some chunky repayments imminent too, should free up some money for the new stuff Almost instant liquidity has been a feature of MT's SM over many months. This has dramatically changed in the last couple of weeks. A glut of loans has slowed absorption. Over £900k of new 12% loans is available on the primary market in addition to some £500k on the secondary market. Much of what is on sale on the SM is not that attractive because it is either due to repay shortly or comes with a lower rate of 10% or 11%. I guess that some lenders who may have relied on that liquidity to invest short-term money at great rates may now feel trapped. However some help is on the way with a big repayment due in the next few days.
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archie
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Post by archie on Jun 2, 2017 6:13:02 GMT
I have sold some bits and pieces but only listed loans with low/zero availability. There does seem to be a shortage of funds across several platforms at the moment.
Everything should resolve itself when the repayments hit unless another large loan is launched. Total availability on the platform does seem to have fallen by around 300k in the last couple of days.
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kaya
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Post by kaya on Jun 2, 2017 7:14:55 GMT
I see a trend developing right across the spectrum. As p2p companies seek to expand and draw in more & more lender cash, new loans are becoming larger and/or more frequent. Secondary markets are suffering a resultant lack of liquidity. This is also happening at Property Moose - a wholly different offering - where market dynamics have changed markedly in the last couple of months, collapsing the secondary market (I think).
Unless p2p companies start to experience a sustained drought of new money to fill new loans, then things may be changing...and a default or two here or there (resulting in loss) could then really upset the p2p boat.
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oik
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Post by oik on Jun 2, 2017 8:57:30 GMT
Not enough new loans and we can't get invested. Too many new loans and we can't sell quickly on the SM. I guess it's inevitable that the balance won't always suit our needs. A few weeks ago it was a waste of time trying to pick up a few crumbs: good for sellers, frustrating for buyers. Now buyers can have their pick and it's the sellers grinding their teeth. So perhaps a time to do some buying and to wait for an easier time to sell. As with any investing, always keep some powder dry.
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archie
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Post by archie on Jun 2, 2017 9:04:13 GMT
New money tends to go into the new loans before SM is looked at. Difficult to get money out of some of the other platforms as SMs are slow there too.
Unusually today's interest hasn't been credited yet.
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littonowl
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Post by littonowl on Jun 2, 2017 9:47:35 GMT
Perhaps if MT had given more priority to launching their IFISA, then this SM glut wouldn't be an issue, and some of the recent PM loans would have moved much quicker too.
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jlend
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Post by jlend on Jun 2, 2017 10:08:17 GMT
I have sold some bits and pieces but only listed loans with low/zero availability. There does seem to be a shortage of funds across several platforms at the moment. Everything should resolve itself when the repayments hit unless another large loan is launched. Total availability on the platform does seem to have fallen by around 300k in the last couple of days. I only joined Moneything a couple of weeks ago and I've been buying up bits from loans with low availability to help spread the risk so thanks for that.
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Post by Deleted on Jun 2, 2017 10:13:23 GMT
There are definitely still buyers out there, I unloaded a few bits and pieces yesterday and they sold in minutes.
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copacetic
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Post by copacetic on Jun 2, 2017 10:33:10 GMT
When you put your loans on SM to sell, the interest effectively stops rite? Just wanted to make sure, my loans are also not selling No. On MT interest continues as normal. This is one of the reasons I continue to increase my investments in Moneything's platform, not that I sell out of many loans. They just seem to have a 'play fair' attitude, like a couple of weeks ago when they had a repayment late in the day and repaid it the next morning so lenders would earn an extra day's interest when it otherwise would have been too late to process withdrawals.
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