Secondary market simple instructions

To create an offer to sell something you already hold. You can sell any portion of your holding and a buyer can buy any part of what you offer to sell. You continue to accrue interest until sold, the accrued interest on the portion sold will be credited to your account when it is sold:

• Log in and click on "Current Investments" in the Dashboard section.
• Look at the list of your current investments and click on the "Buy or Sell Loans" link on its line.
• Click on the "CREATE OFFER" button near the lower middle of the page.
• To the right of the word "Sell" put the amount you want to sell, up to your total holding. The other screen will still have your current amount if you need to look that up.
• To the right of the word "Price" put 100 or some higher amount if you want to try to sell at a profit. The maximum percentage that you can successfully sell at depends on the loan so I won't try to guide you.
• To the right of "valid until" clock on the DD/MM/YY and then click on a date a month or so in the future, doesn't really matter much for your purpose.
• Click on the "Novation Agreement" box, that's you agreeing to the sales contract.
• Click on Submit.
• If told that you can't sell more than you own, reduce the amount you're trying to sell by a penny and ask Ablrateandy to fix it once you've done all possible selling.
• Now wait to see whether there are any interested buyers. Expect it to take several days at least because the speed of selling depends partly on the chance of who looks when and partly on the price you seek.
• If you haven't sold in a week go to your active bids and offers screen then secondary offers and cancel the offers and relist at a lower percentage. Repeat until all sold.

When changing an offer you can only change it in place if it's for no more than half your current holding because a bug means that the current amount and the new amount are added and compared to your total holding. Either use a £1 temporary amount then edit a second time or delete the offer and create a new one. A similar bug used to exist when changing bids but that was fixed, this one will probably be fixed soon as well.

An alternative is not to create an offer to sell but instead to sell to someone who is offering a bid price to buy from anyone at that price:

• go to secondary market page and pick a loan you have. If you see any bids in the left column you can sell to people who are offering you a price there.
• Put in the amount you want to sell in the box on the lower left and it'll take the bids in best value to least value order. These transactions happen immediately after you agree on the confirmation screen.

To create a bid to buy at a price that you specify, you'll be charged the whole possible accrued interest at the time you make the bid and any extra will be refunded to you when the bid is accepted. It works much like the process of creating an offer to sell except you're saying what you'll buy at.

At any time you can go to your current bids and offers list from the overview screen and change the pricing or amount you want to sell, just pick bids or offers and you'll get a list of loans and your bids and/or offers for each.