kaya
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Post by kaya on Dec 10, 2015 12:30:54 GMT
What kind of secondary market do you want to see at Lending Crowd? Please only vote if you are investing here (or would invest here if a change were made).
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ablender
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Post by ablender on Dec 10, 2015 12:37:56 GMT
I personally prefer at par with no fees like in SS. There is nothing that can increase a platform more than a liquid SM.
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SteveT
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Post by SteveT on Dec 10, 2015 12:59:29 GMT
I personally prefer at par with no fees like in SS. There is nothing that can increase a platform more than a liquid SM. That really only works if everyone is getting the same rate on the PM (ie. fixed rate loans). Otherwise how can those that bought at lower rates ever hope to sell until those with higher rate parts are sold. If the PM is to remain a variable rate bidding auction then the SM really needs to support premiums and discounts. Even though the current model is supposed to give everyone an equal chance of selling by offering an "average" rate made up from multiple different parts, it's clear that top-rate parts still sell faster than those at lower rates. I assume this is because buyers are cute enough to play around with the loan part size they are buying to squeeze out the very best rate; almost by definition, this will include more parts at the higher rates. At the moment the SM does nothing to encourage larger / more bidding in the PM auctions, and the planned doubling of LC's selling fee will throttle this back further. Crazy
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Post by nanniema on Dec 10, 2015 14:40:23 GMT
One reason I have not increased my investment from the original 1K is that, not being ultra rich, I may need cash in a hurry.
Therefore the balance of my withdrawals from FC is in a platform where I can literally cash out in minutes.
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Post by Deleted on Dec 10, 2015 15:41:00 GMT
One reason I have not increased my investment from the original 1K is that, not being ultra rich, I may need cash in a hurry. Therefore the balance of my withdrawals from FC is in a platform where I can literally cash out in minutes. I hope, for you, that this secondary fast platform is not LC... They have had serious problems with withdrawal timings and selling on the secondary market is really not easy (clearly there is a very low cashflow from outside). For fast cash outs I recommend SavingStream. Really instant sales for the last few months (so fast that a lot of people cannot invest enough...).
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Post by nanniema on Dec 10, 2015 16:08:17 GMT
yes it is Saving Stream. Although I have managed to buy some bits a few moments ago it is normally difficult to buy but so, so easy to sell.
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ablender
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Post by ablender on Dec 10, 2015 16:17:29 GMT
I personally prefer at par with no fees like in SS. There is nothing that can increase a platform more than a liquid SM. If the PM is to remain a variable rate bidding auction then the SM really needs to support premiums and discounts. Even though the current model is supposed to give everyone an equal chance of selling by offering an "average" rate made up from multiple different parts, it's clear that top-rate parts still sell faster than those at lower rates. I assume this is because buyers are cute enough to play around with the loan part size they are buying to squeeze out the very best rate; almost by definition, this will include more parts at the higher rates. At the moment the SM does nothing to encourage larger / more bidding in the PM auctions, and the planned doubling of LC's selling fee will throttle this back further. Crazy Yes, you are right. I did not consider that. At least if premiums and discounts are considered, I hope that they are not in large steps (like in fs) and that they do not go as deep as -20% (fc).
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kaya
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Post by kaya on Dec 11, 2015 16:43:07 GMT
I personally prefer at par with no fees like in SS. There is nothing that can increase a platform more than a liquid SM. Fine enough, but there is no way that they will scrap the selling fees now. Personally, it annoys me that they charge us a fee for selling, but do not let us at least recoup.
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grahamg
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Post by grahamg on Dec 11, 2015 17:15:56 GMT
There is £463047 available on the SM most of which i guess belongs to "Sal"
as we are locked in for a year. That's only £23152 in fees assuming everyone has to pay including the fairy godmother.
As everyone there has presumably diversified as far as they want that's 463 people who need to join and diversify to £1000 to wipe that out.
Not sure what they hope to gain by charging fees if its mostly internal.
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jimbob
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Post by jimbob on Dec 11, 2015 18:34:59 GMT
There is £463047 available on the SM most of which i guess belongs to "Sal" as we are locked in for a year. That's only £2315.20 ? £23152 in fees assuming everyone has to pay including the fairy godmother. As everyone there has presumably diversified as far as they want that's 463 people who need to join and diversify to £1000 to wipe that out. Not sure what they hope to gain by charging fees if its mostly internal.
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grahamg
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Post by grahamg on Dec 11, 2015 18:49:56 GMT
There is £463047 available on the SM most of which i guess belongs to "Sal" as we are locked in for a year. That's only £2315.20 ? £23152 in fees assuming everyone has to pay including the fairy godmother. As everyone there has presumably diversified as far as they want that's 463 people who need to join and diversify to £1000 to wipe that out. Not sure what they hope to gain by charging fees if its mostly internal. Thanks for correction. Maybe it will pay for next years Christmas party if anyone is still there !
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ablender
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Post by ablender on Dec 11, 2015 20:25:28 GMT
So, please correct me if I am misunderstanding this. LC is saying that they need to earn an extra £2315 and 20p otherwise their business is in trouble. Did I understand that correctly? In this case, should I trust them with my money, £100 or not?
Can I please have some comments directly from an LC representative?
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TheDriver
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Slightly bonkers
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Post by TheDriver on Apr 24, 2016 22:24:22 GMT
What kind of secondary market do you want to see at Lending Crowd? Please only vote if you are investing here (or would invest here if a change were made).
The poll closed before I saw this, but my vote would have been for B C, although C B would at least be an improvement.
Less than 10% voted for the status quo but I've seen nothing from LC acknowledging the fact.
I note from FC that most sellers expect buyers to pay a premium for their investments, although I don't see why I should give someone else a quick profit; if you don't want the loan don't buy it in the first place! If you need to sell then it would be worth taking a hit to make it attractive to others - why stop at 20%?.
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grahamg
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Post by grahamg on Apr 24, 2016 22:50:45 GMT
What kind of secondary market do you want to see at Lending Crowd? Please only vote if you are investing here (or would invest here if a change were made).
The poll closed before I saw this, but my vote would have been for B, although C would at least be an improvement.
Less than 10% voted for the status quo but I've seen nothing from LC acknowledging the fact.
I note from FC that most sellers expect buyers to pay a premium for their investments, although I don't see why I should give someone else a quick profit; if you don't want the loan don't buy it in the first place! If you need to sell then it would be worth taking a hit to make it attractive to others - why stop at 20%?.
My understanding from another thread is that we are already selling at Par, it's just that when you buy on the SM mostly you get the very low interest rate that "in house" bid, as most of the SM seems to be them unloading, and of course the annoying fee. Never had any problem selling though.
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treeman
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Post by treeman on Apr 25, 2016 10:12:36 GMT
The poll closed before I saw this, but my vote would have been for B, although C would at least be an improvement.
Less than 10% voted for the status quo but I've seen nothing from LC acknowledging the fact.
I note from FC that most sellers expect buyers to pay a premium for their investments, although I don't see why I should give someone else a quick profit; if you don't want the loan don't buy it in the first place! If you need to sell then it would be worth taking a hit to make it attractive to others - why stop at 20%?.
My understanding from another thread is that we are already selling at Par, it's just that when you buy on the SM mostly you get the very low interest rate that "in house" bid, as most of the SM seems to be them unloading, and of course the annoying fee. Never had any problem selling though. Really ? I've had parts on a few loans listed for weeks now without so much as a nibble .................... 
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