On Friday 14th September, we will release an update to the Secondary Market which will change the existing view for all.
What you need to know
Going forward, all investors will have limited access to the Secondary Market unless they agree with our updated risk statements. The new default view will only allow you to sell your investments to Go & Grow and will show you a fixed offer for you to review before proceeding. This is fantastic if you’re looking for a no-hassle option to liquidate your portfolio.
What you have to do
If you choose to accept our updated risk statements, your access will revert to the same view you have today. In other words, you’ll be able to use the Secondary Market with no restrictions.
Why have we done this?
The reason for this change is to add an extra layer of protection for non-sophisticated investors. Over time, we’ve noticed some investors will transact on the Secondary Market and damage their portfolio – for example, by selling current loans with a large discount or buying defaulted loans at a significant premium.
The end result is a negative experience with Bondora and a net return that falls far below the average of the wider investor community. It’s a priority for us to protect investors from these situations.
Received this e-mail from bondora... What to expect? What is this bolded part? I have a lot of defaulted loans and I'm thinking of liquidating all - I suddenly have a vibe that I should liquidate everything before 14th of september?
I simulated selling to Go & Grow to see how much my portfolio is really worth. It' 80%. I'll stick with it as it is for now.
How do you do that? I see everything basically the same way as before?
Be careful when you do that. I went to my Investments, and clicked on the button "Add your existing Bondora investments to the Go & Grow account". It then shows how much it would be worth if you move your whole portfolio to Go&Grow. It also shows an option to confirm the transfer (which is non reversible). I don't think there is an option to move only part of the portfolio.
If you don't see the button, you have to log out and log in again
Going forward, all investors will have limited access to the Secondary Market unless they agree with our updated risk statements.
So basically they don't want our API based scripts to trade with regular customers. They feel that "human" customers are handicapped using the platform, because they don't have realistic overview and expectations based on information and UI that platform provides. And that is in fact true.
Can you post a screen on how you could sell it to go & grow? I don't see it, I only see the old style secondary market. I did accept the t&c.
Yeah, but that is only to move your existing loans to your go & grow account, imho it has nothing to do with selling. And you can only do that with current loans. Bondora is just moving more and more away from the usual method where you are in control and decide in what loans to invest etc. Imho, their long term plan is just to go fully to like a fund structure - you buy 100 bondora fund shares worth x and you don't really know what is in there.
I would think that this way you can be sure of losing money. If you wait the defaulters may pay something in a few years, although how much of that will be taken by Bondora you will find out eventually, it is unlikely to be less than the about 40% they are currently helping themselves to.