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Post by ruralres66 on Jul 29, 2016 11:03:26 GMT
I am new to this forum. It's extremely helpful. Thanks. I have dabbled in lending to both RateSetter and Zopa since 2013. I am a total novice! I have had insufficient time to really "test" or process withdrawals or sellouts as I have not needed to. In the current climate of financial uncertainty, I now wish to explore a sellout, just in case of either need or concerns about the market. I am not really bothered about maximising interest atm, I just wish to gain a better understanding of the system and secure a modest fair return on my lending "investment". I shall use a hypothetical sum invested in the 3 year market which I wish to sell out in one go, or perhaps several smaller amounts over successive days.
My question is, is it better to sellout in small chunks?
Is there a time of the day best or a day of the week that's best?
I have looked at today's rates.
For the sell out of £89,000 at 5.2 in the 3 year market, ( loans- contracts from 2013 but mainly 2015-2016), fees are estimated at about £1500 giving a return of approx £87500.
If push came to shove and I really needed to sellout, I really need some advice and feedback as to best way to do this.Thanks in anticipation.
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Post by lb on Jul 29, 2016 11:18:37 GMT
I am new to this forum. It's extremely helpful. Thanks. I have dabbled in lending to both RateSetter and Zopa since 2013. I am a total novice! I have had insufficient time to really "test" or process withdrawals or sellouts as I have not needed to. In the current climate of financial uncertainty, I now wish to explore a sellout, just in case of either need or concerns about the market. I am not really bothered about maximising interest atm, I just wish to gain a better understanding of the system and secure a modest fair return on my lending "investment". I shall use a hypothetical sum invested in the 3 year market which I wish to sell out in one go, or perhaps several smaller amounts over successive days. My question is, is it better to sellout in small chunks? Is there a time of the day best or a day of the week that's best? I have looked at today's rates. For the sell out of £89,000 at 5.2 in the 3 year market, ( loans- contracts from 2013 but mainly 2015-2016), fees are estimated at about £1500 giving a return of approx £87500. If push came to shove and I really needed to sellout, I really need some advice and feedback as to best way to do this.Thanks in anticipation. the fee generally gets bigger (%) the larger amount you try to sell out. so when you sell out the most recent loans will be sold first (lower fees) moving to the older loans (higher fees) The longer you hold a loan the more you pay to exit. Search me. some genius somewhere worked it out. it is because you pay back interest you already earned.
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