dh1
Member of DD Central
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Post by dh1 on Nov 1, 2022 20:28:29 GMT
Thanks for that, df. Good to know that your loans have sold, lending some credence to the large volume of transactions, theory. Fully agree about the FSCS rates and uncertainty; these are probably factors in (eg) SOMO as well. I live in hope that hope that KF will say something....
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Post by kuflinkirlisa on Nov 2, 2022 11:37:02 GMT
I've just visited the SM again and there are 110 loans for sale. I know that some have sold (or been withdrawn) but there have been 100+ for sale for ages (about 1 month) now. The loan amounts range from 5 figures to 2 so I'm struggling to work out the pattern here. If a big lender were exiting you would expect just big loans but that's not what's happening.
Given that the SM is effectively not working for ordinary lenders (unless there is a really large turnover that is masked by the apparent stability in the number of loans on offer) I'd have hoped that kuflink would have commented publicly by now. It would be useful to understand what's going on from its perspective. Good morning all, and thanks for the tag dh1 SM is a place for lenders to sell to other lenders - a place to create liquidity for our clients. It is something we do not control other than operationally. Ever since Brexit, the recent mini budget, inflation, covid-19, and higher interest rates, these together have resulted in all of us having higher costs in all aspects of life. This is why the SM is there so that clients can sell their loan parts to help them through this high cost environment, should they need to. Other than one large client exiting in August for personal reasons, we have seen increased but levelled out activity on the secondary market for September 2022 and October 2022. Best wishes, The Kuflink team
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Post by uksoul on Nov 3, 2022 0:55:51 GMT
Other platforms have also seen an increase in SM transactions. This is likely to continue well into 2023 as high inflation remains and likely tax hikes in 2023. The liquidity of the SM can be a lifesaver in this time of economic turbulence.
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Post by jules221 on Nov 13, 2022 9:00:42 GMT
I am exiting loans I bought when interest rates were lower, a P2P loan returning 6% looked good then but when BoE base gets to 6% I am never going to be able to sell those loans so acting now. I think that is why the SM's are so busy but don't really understand the buyers reasoning for buying loans that were initiated when rates were lower. Just my Sunday morning thoughts
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rscal
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Post by rscal on May 11, 2023 17:36:08 GMT
Just checking the option, it appears when you select 'sell' in the select secondary market both standard and ISA list - implying to my mind that ISA loan parts are redeemable on the same basis as standard (I had assumed - or thought I'd seen somewhere that ISA investments weren't).
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rscal
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Post by rscal on May 13, 2023 14:34:13 GMT
Selling in the Secondary Market: accrued but unpaid interest?
Logically selling a loan part in the secondary market ought not alter the payment of interest per your own chosen frequency (monthly or maturity) but since you have effectively exited before maturity - possibly sometime before maturity - is your accrual paid immediately or only at the actual loan's redemption?
[There, I think that is the question I was trying to satisfy my curiosity over!]
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Post by df on May 13, 2023 19:37:24 GMT
Selling in the Secondary Market: accrued but unpaid interest? Logically selling a loan part in the secondary market ought not alter the payment of interest per your own chosen frequency (monthly or maturity) but since you have effectively exited before maturity - possibly sometime before maturity - is your accrual paid immediately or only at the actual loan's redemption? [There, I think that is the question I was trying to satisfy my curiosity over!] The accrual interest is paid immediately, don't need to wait for redemption.
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rscal
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Post by rscal on Jul 13, 2023 15:45:44 GMT
Some issues arising for me trying to use the Secondary Market this week:
I found out that they won't list any loan that has received a partial capital repayment. This is a poor show since it makes it a matter of 'luck' whether loans with relatively many months (or 'months + 1' if you prefer) to run whilst nominally 'performing' can be taken off the table by Kuflink themselves whenever a little bit is shaved off in this way. It also undermines the SM itself through limiting which loans remain available to incoming investors wanting to deploy funds. (It isn't the 'fault' of anyone but Kuflink's the SM is set up like this.)
On a bit of a side issue, when you put your loans in expected repayment date order it's all orange 'pending' and black 'default' near the top now and as you move 'into the blue' (your 'performing' loans) zone further along many of those could already be 'non-marketable' [to add a new category that could be there] as any capital reductions are only made visible by expanding tabs. So if you tacitly assumed these blue loans ARE marketable or even will REMAIN marketable during the countdown period allowing you to sell out well.. that's liable to be incorrect in quite a few cases.
KUF has confirmed the proposed change to allow loans parts to be sub-dividable to allow listing on the SM will include the loans affected by partial repayments at present (so that is something, at least)
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rscal
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Post by rscal on Aug 22, 2023 13:39:30 GMT
FYI: When you go to list your available to sell loan parts they are naturally ordered oldest to newest. That means they seem to include some loans held for less than 30 days (the required minimum period) toward the end, and I was able to 'List' one such part pending review - and them immediately 'de-list' it. So it seems there is no '30 day' filter in place as yet and you could be caught requesting an ineligible listing when you don't intend to. kuflink please take note.
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Post by Ace on Aug 22, 2023 16:28:35 GMT
FYI: When you go to list your available to sell loan parts they are naturally ordered oldest to newest. That means they seem to include some loans held for less than 30 days (the required minimum period) toward the end, and I was able to 'List' one such part pending review - and them immediately 'de-list' it. So it seems there is no '30 day' filter in place as yet and you could be caught requesting an ineligible listing when you don't intend to. kuflink please take note. It seems that you may have misunderstood the requirement. The requirement is not that you need to hold the loan for a full month before being able to sell it. The requirement is that you cannot sell a loan within the first month of its term; subtly different. I.e. you might have bought the loan after its term started. My loans that are less than a month into their terms are not available for sale on the SM. So, it looks to be correctly implemented to me.
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rscal
Posts: 911
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Post by rscal on Aug 22, 2023 18:15:53 GMT
FYI: When you go to list your available to sell loan parts they are naturally ordered oldest to newest. That means they seem to include some loans held for less than 30 days (the required minimum period) toward the end, and I was able to 'List' one such part pending review - and them immediately 'de-list' it. So it seems there is no '30 day' filter in place as yet and you could be caught requesting an ineligible listing when you don't intend to. kuflink please take note. It seems that you may have misunderstood the requirement. The requirement is not that you need to hold the loan for a full month before being able to sell it. The requirement is that you cannot sell a loan within the first month of its term; subtly different. I.e. you might have bought the loan after its term started. My loans that are less than a month into their terms are not available for sale on the SM. So, it looks to be correctly implemented to me. I take your point and stand corrected. (This means any loan bought on the SM could* be sold on 'without delay' assuming no intervening change of status. Useful to know) *subject of a manual review
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rscal
Posts: 911
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Post by rscal on Feb 19, 2024 12:02:19 GMT
Re. When a reduction in capital has been made in respect of a presently listed item (for instance "R******d R*w T7") I assume the payment to the current holder merely causes any attempt to bid for it to not 'complete' (The 'oops something went wrong' message) and unless the owner remembers to delist it themselves it will simply remain as advertised still 'for sale' but remain unsaleable. Has anyone tried to buy such a listing? (thanks)
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Post by paultw5 on Feb 21, 2024 10:08:12 GMT
Regarding R R..
The loans I have are not showing as being available to SELL in the secondary market place.
Around 5% has been paid back early, which seems to have effectively disabled the loan...Stuck in the never never until paid off. I would imagine a few will be a little annoyed ..
As for buying the current R R loan that's for sale, I have no available funds to test..
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Post by Ace on Feb 21, 2024 12:36:46 GMT
Only 50 of my 78 current loans are sellable.
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Post by df on Feb 21, 2024 13:19:39 GMT
Regarding R R.. The loans I have are not showing as being available to SELL in the secondary market place. Around 5% has been paid back early, which seems to have effectively disabled the loan...Stuck in the never never until paid off. I would imagine a few will be a little annoyed .. As for buying the current R R loan that's for sale, I have no available funds to test.. Yes, it has always been the case - you can't sell a loan if it has been partially repaid.
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