IFISAcava
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Post by IFISAcava on Jun 2, 2018 11:26:43 GMT
Just realised that someone took a chunk of a loan part for sale leaving me with an irritating £90-odd worth that I can't now sell on the SM.
Other than only selling whole loan parts (not always ideal), the solution seems to be (and what I will do for future sales):
1) for any loan part of n (where n>£200), split into two parts: £n-100 and £100
2) sell the £n-100 part first and allow part sales
3) once all gone, sell the £100 part with no part sales allowed
4) if the £n-100 ends up as <£100, re-combine the parts and sell as a whole with no part sales allowed
It's a bit involved, but I can't see another way at the moment.
Alternatively, perhaps LandlordInvest could make sure that the last £100 of any loan part is always sold whole? @filipkaradaghi
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Post by Deleted on Jun 2, 2018 12:25:31 GMT
Hi IFISAcava,
Thank you for your comment.
I will review and revert latest Monday.
Regards,
Filip
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elliotn
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Post by elliotn on Jun 2, 2018 12:54:16 GMT
Just realised that someone took a chunk of a loan part for sale leaving me with an irritating £90-odd worth that I can't now sell on the SM. Other than only selling whole loan parts (not always ideal), the solution seems to be (and what I will do for future sales): 1) for any loan part of n (where n>£200), split into two parts: £n-100 and £100 2) sell the £n-100 part first and allow part sales 3) once all gone, sell the £100 part with no part sales allowed 4) if the £n-100 ends up as <£100, re-combine the parts and sell as a whole with no part sales allowed It's a bit involved, but I can't see another way at the moment. Alternatively, perhaps LandlordInvest could make sure that the last £100 of any loan part is always sold whole? @filipkaradaghi You cannot re-constitute sub-100 loan parts per the warning when selling. If your original investment plans have changed just break sales into smaller parts and do not allow part sales.
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IFISAcava
Member of DD Central
Posts: 3,546
Likes: 2,886
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Post by IFISAcava on Jun 2, 2018 15:52:57 GMT
Just realised that someone took a chunk of a loan part for sale leaving me with an irritating £90-odd worth that I can't now sell on the SM. Other than only selling whole loan parts (not always ideal), the solution seems to be (and what I will do for future sales): 1) for any loan part of n (where n>£200), split into two parts: £n-100 and £100 2) sell the £n-100 part first and allow part sales 3) once all gone, sell the £100 part with no part sales allowed 4) if the £n-100 ends up as <£100, re-combine the parts and sell as a whole with no part sales allowed It's a bit involved, but I can't see another way at the moment. Alternatively, perhaps LandlordInvest could make sure that the last £100 of any loan part is always sold whole? @filipkaradaghi You cannot re-constitute sub-100 loan parts per the warning when selling. If your original investment plans have changed just break sales into smaller parts and do not allow part sales. I thought you could if it is a part of a part? If I have 500, and I break it into 400 and leave 100, then 350 of the 400 is sold, the remaining 50 will be cancelled automatically, so can I not then relist the remaining £150 of the original £500 that is left?
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Post by Deleted on Jun 4, 2018 7:47:34 GMT
Good morning IFISAcava,
The minimum £100 is set to be consistent with the minimum loan amount of £100.
Out of around 2,500 transactions on the secondary market, around 5 of them have resulted in the seller having a unsalable loan part (i.e. less than £100). And as you point out above, currently, the only way to prevent this is to not allow part of loan parts to be sold.
We will look into how we could potentially address this but I cannot commit to any changes at this point.
Regards,
Filip
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IFISAcava
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Post by IFISAcava on Jun 4, 2018 8:48:00 GMT
Good morning IFISAcava, The minimum £100 is set to be consistent with the minimum loan amount of £100. Out of around 2,500 transactions on the secondary market, around 5 of them have resulted in the seller having a unsalable loan part (i.e. less than £100). And as you point out above, currently, the only way to prevent this is to not allow part of loan parts to be sold. We will look into how we could potentially address this but I cannot commit to any changes at this point. Regards, Filip OK, thanks for the response Filip. I'll keep the last £100 of all loan parts separate in future.
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elliotn
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Post by elliotn on Jun 4, 2018 8:49:36 GMT
You cannot re-constitute sub-100 loan parts per the warning when selling. If your original investment plans have changed just break sales into smaller parts and do not allow part sales. I thought you could if it is a part of a part? If I have 500, and I break it into 400 and leave 100, then 350 of the 400 is sold, the remaining 50 will be cancelled automatically, so can I not then relist the remaining £150 of the original £500 that is left? Choose to sell 400 of 500 loan part and then tick not to allow partial purchases; 400 will sell in one go (willing buyer permitting) and you'll have perfectly sellable 100 left 
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