|
Post by mrclondon on Oct 24, 2015 16:00:58 GMT
But sales for the TLC loans is very slow, so the SM could be flooded for months, especially with more TLC's needing to unwind soon. This is bad if you need liquidity. But looking on the brighter side, maybe the secondary market presentation on the TC2.0 software will actually encourage more lenders to take a look at what is on offer. I use Trilight's fantastic spreadsheet posted on the old TC forum keeps me informed as to what is happening, without which the TC SM in its current form is pretty much unintelliglible.
|
|
agent69
Member of DD Central
Posts: 5,587
Likes: 4,182
|
Post by agent69 on Oct 29, 2015 19:48:51 GMT
So the big organization selling up is in fact TCL 12, which has to sell all it loan parts as it's reaching it's maturity date? Correct. Well actually its both TLC12 and TLC12a both of which meant to fully redeem in the near future. I see 12 and 12A are both listing a large number of loans on the SM. Between them up to £60k for one offering. No way that's going to shift anytime soon
|
|
pikestaff
Member of DD Central
Posts: 2,136
Likes: 1,484
|
Post by pikestaff on Oct 30, 2015 8:37:02 GMT
They have been listing for a couple of weeks under aliases. Now they have broken cover. I agree they will struggle to sell - especially the larger positions. Most lenders who like these loans will have enough already, and the flow of new money is low because TC are not doing any marketing until the new software has launched successfully.
|
|
agent69
Member of DD Central
Posts: 5,587
Likes: 4,182
|
Post by agent69 on Nov 7, 2015 11:29:27 GMT
And now TLC 1 has joined the show
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Nov 7, 2015 16:28:22 GMT
And now TLC 1 has joined the show Great, I was after some Bam and EJ!
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Jan 4, 2016 0:02:12 GMT
If I put something up for sale on the SM, and it doesn't sell, do I get charged?
|
|
|
Post by tybalt on Jan 4, 2016 7:08:50 GMT
I believe ThinCats only charge on the Debt Obligations that sell. Although they may allow free relisting where there is a partial sale. I would post on their own forums for more chance of an informed reply.
Edit - I have reviewed the latest wording and they only charge on the nominal value that you sell as opposed to list.
|
|
|
Post by jivan on Feb 4, 2016 8:37:13 GMT
Sorry to be the bearer of bad news, but the current fee policy on the SM is a straight 1% fee for the amount listed, regardless of how much of it sells. There is no cap on this fee, so if you list a loan part for £10,000 then you pay a fee of £100 irrespective of whether any or all of it sells. The only concession is that any unsold parts can be relisted at no extra charge provided you notify TC via email.
Here is a direct quote from an email on the subject from TC HQ;
"Secondary market fees are 1% of the amount put up for auction not the amount sold. However, you can relist the remaining £x fee free. When you list this loan part up, please email resale@thincats.com so that we know not to charge a fee on the listing."
It would appear that this situation is brought about by the inadequacies of TC software to do things any differently, and now that the TC2.0 upgrade has been shelved, it's unlikely this will change any time soon.
The trick, then, is to buy loan parts in small chunks (£1000) rather than one big chunk.
|
|
pikestaff
Member of DD Central
Posts: 2,136
Likes: 1,484
|
Post by pikestaff on Feb 4, 2016 11:25:54 GMT
The latest wording was published 2 days ago. More than one lender has been in correspondence with TC about it, and they have clarified today that if nothing sells there is no fee. Remains to be seen whether there will be any further climbdown.
|
|
|
Post by marek63 on Feb 23, 2016 20:41:57 GMT
Practically, we have sold a few bits on SM this month and all part sales are only charged at amount SOLD. Which works very sensibly.
|
|