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Post by savingstream on Apr 11, 2014 7:41:11 GMT
We can confirm there will be a secondary market for Saving Stream loans by 1st May 2014.
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Post by elljay on Apr 11, 2014 14:27:37 GMT
We can confirm there will be a secondary market for Saving Stream loans by 1st May 2014. Good stuff. Are you able to give more details about how it will work, or would that spoil the fun? 
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Post by pepperpot on Apr 16, 2014 19:00:00 GMT
savingstream - I'd like to know whether the secondary market will have a fee attached to it. I want to increase my stakes in the bridges to take advantage of the cashback offer, but am reluctant to go OTT if when I come to diversify later it will cost more than the 0.5% on offer, thanks.
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j
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Post by j on Apr 17, 2014 8:26:14 GMT
savingstream - I'd like to know whether the secondary market will have a fee attached to it. I want to increase my stakes in the bridges to take advantage of the cashback offer, but am reluctant to go OTT if when I come to diversify later it will cost more than the 0.5% on offer, thanks. It would be great if SS do an AC & not charge any fees for buying & selling on AM. Is that possible SS?
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Apr 17, 2014 9:44:18 GMT
It would be great if SS do an AC & not charge any fees for buying & selling on AM. Is that possible SS? To me it would seem to be a very wise move to make it fee-free - it would surely encourage investments that might not otherwise be made and create liquidity at times when there would otherwise be no investing opportunities for new lenders. I didn't have AC involvement before the AM went fee-free, but my perception of it now is that it creates traffic and investment for AC.
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j
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Penguins are very misunderstood!
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Post by j on Apr 17, 2014 10:37:20 GMT
It would be great if SS do an AC & not charge any fees for buying & selling on AM. Is that possible SS? To me it would seem to be a very wise move to make it fee-free - it would surely encourage investments that might not otherwise be made and create liquidity at times when there would otherwise be no investing opportunities for new lenders. I didn't have AC involvement before the AM went fee-free, but my perception of it now is that it creates traffic and investment for AC. You would not believe the difference the removal of fees made to AC's AM. Completely different dynamic altogether. It was a wise move indeed
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Apr 17, 2014 13:15:18 GMT
We can confirm there will be a secondary market for Saving Stream loans by 1st May 2014. , can we have clarification on whether the secondary market will be fee-based or free to use? Thanks
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Post by savingstream on Apr 18, 2014 9:44:23 GMT
Hi j, after discussion on this point we can confirm the secondary market will be fee free.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Apr 18, 2014 9:49:19 GMT
Hi j, after discussion on this point we can confirm the secondary market will be fee free. Hurrah for SS  . I'm very much looking forward to seeing how this is going to work.
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Post by elljay on Apr 18, 2014 10:44:04 GMT
I'm very much looking forward to seeing how this is going to work. Me three. Less than two weeks to wait! 
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Post by Duane Dibley on Apr 18, 2014 10:50:03 GMT
Be nice if we could make a little bit of profit from the secondary market too.  But it's good to see S/S growing from a rather inauspicious start to the present position and giving lenders what they really want rather than faffing about with additions which may look and sound nice but in reality add very little. The only thing I'm waiting for is to see how they cope with a default, which I'm sure will happen sooner or later. |
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Post by savingstream on Apr 18, 2014 11:09:01 GMT
We have experienced one default to date which was the 2005 Jeanneau Cap Camarat 715. We had to sell the asset to recoup the debt plus interest which was done within the month and investors were repaid.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Apr 18, 2014 11:12:23 GMT
The only thing I'm waiting for is to see how they cope with a default, which I'm sure will happen sooner or later. Yes - they've previously indicated that they would not pass on the losses to lenders, but it remains to be seen. My desire for an active SM stems from the fact that I would ideally like to be more diversified than I am on SS until we can be confident around how defaults are handled.
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spockie
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Post by spockie on Apr 18, 2014 13:55:02 GMT
Completely agree with MONEY. As someone who is struggling to get out of FC due to their clogged up AM, I would not want to see premium selling allowed. Let the flippers in, and your already small lender base will shrink as the rest of us won't be able to get a look in without paying a premium. |
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spockie
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Post by spockie on Apr 18, 2014 14:56:33 GMT
...and to think I'd always had you down as being one of the more level-headed members of the forum, spockie. That's why I'm getting OUT of FC (Take it that's what you're referring to). Dipped my toe in and decided to take it out again quickly. Not got much in but finding it hard to get it out again! Totally agree about not making a profit out of fellow lenders. Given there are only 100 or so of us with SS so far, hopefully savingstream will be listening. They seem to be so far.
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. I'm very much looking forward to seeing how this is going to work.
