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Post by khampson on Dec 29, 2016 16:35:25 GMT
Has anyone actually bought or sold using the premium or discount option in the manual account?
Thanks
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Post by oldnick on Dec 29, 2016 16:42:09 GMT
Has anyone actually bought or sold using the premium or discount option in the manual account? Thanks You can sell at a discount, but not at a premium - and vice versa for buying. It does happen if you're patient - very patient sometimes.
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Post by khampson on Dec 29, 2016 16:48:04 GMT
So would I be right in thinking for the diamond loan, if someone wanted to jump the queue for selling off their loan, they sell at a discount they would jump the queue selling it first? Say if I wanted to buy, would I get the loan part even if I put invest at no mark up or down? Just trying to understand how it works.
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Post by oldnick on Dec 29, 2016 16:57:35 GMT
I believe your offer to buy at par would still buy any available discounted loan parts first - that is, to your benefit.
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agent69
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Post by agent69 on Dec 29, 2016 18:17:58 GMT
Has anyone actually bought or sold using the premium or discount option in the manual account? Thanks Stick a 1% discount on, and any old dross will fly off the shelf (unless your particular pile of dross is located half way up the west coast of wales, in which case 3.5% discount may be needed).
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ilmoro
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Post by ilmoro on Dec 29, 2016 18:23:29 GMT
Indeed, your offer will fill at the best possible price, so if you set it to buy at par it will buy any discounted parts first.
There are a couple of loans which went into distress (eg the welsh hotel) where those who really wanted out did indeed jump the queue by offering discounts and buyers bought these parts first even if there request was to buy at par. Ive collected a few bits of several loans at a discount even though I havent specified anything other than a par offer.
In most cases, the market is very liquid so there is no need to offer a discount, Diamond loan would be one exception and anything distressed but tradeable depending on the seriousness of the issue eg Leeds when it was tradeable.
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Post by khampson on Dec 29, 2016 19:27:30 GMT
How would you know if you get a loan at a discounted price? Why is the diamond loan being sold off by so many?
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adrianc
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Post by adrianc on Dec 29, 2016 19:29:19 GMT
How would you know if you get a loan at a discounted price? Your balance will go up, because you've got <say> £10 of loan in return for <say> £9.80 of balance. It's just not all been bought yet.
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ilmoro
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Post by ilmoro on Dec 29, 2016 19:47:28 GMT
How would you know if you get a loan at a discounted price? Why is the diamond loan being sold off by so many? IIRC it gives the discount in your transaction statement (might be getting confused with ABL), dont have access at moment to check. It will certainly say bought x for y which wil make the discount purchase clear
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jonah
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Post by jonah on Dec 29, 2016 20:15:56 GMT
How would you know if you get a loan at a discounted price? Why is the diamond loan being sold off by so many? IIRC it gives the discount in your transaction statement (might be getting confused with ABL), dont have access at moment to check. It will certainly say bought x for y which wil make the discount purchase clear It does. Not had an example for a long time but the report details it.
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mikes1531
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Post by mikes1531 on Jan 4, 2017 4:02:01 GMT
How would you know if you get a loan at a discounted price? If there are parts for sale, there's an amount shown as "Available for instant investment" on the right side of the individual loan pages. The pop-up that appears when you hover over that amount will indicate the highest discount available if any of the parts are offered at a discount. If you click on the amount available, a box will appear showing the discounts available on all of the parts for sale. Loan #317 is a good example of this at the moment, but there's only micro-shrapnel now available at a discount and that will disappear with the next purchase, so it may not still be there by the time you look. HTH
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lobster
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Post by lobster on Apr 4, 2017 16:23:53 GMT
When selling with AC, are you able to tell where you are in the selling queue (as you are with SS for example) ?
Also with AC , if you sell "normally" ie. at par without any premium/discount, then does your sale jump the queue ahead of any selling instigated by AC themselves eg. from the QAA or 30DAA ? (Again this is indeed the case with SS).
Thanks.
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ilmoro
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Post by ilmoro on Apr 4, 2017 16:32:50 GMT
When selling with AC, are you able to tell where you are in the selling queue (as you are with SS for example) ? Also with AC , if you sell "normally" ie. at par without any premium/discount, then does your sale jump the queue ahead of any selling instigated by AC themselves eg. from the QAA or 30DAA ? (Again this is indeed the case with SS). Thanks. No. IRC AC doesnt using queuing at all. If there is more supply than demand the system will spread the purchases amongst the available sellers, or randomises it if there are too many sellers v buyers for it to be meaningful (that might not happen nowadays) Depends on what the priority is at that particularly time, AC may decide to prioritise their own accounts for business reasons but normally no, the system above applies. AC isnt like any other plaform.
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adrianc
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Post by adrianc on Apr 4, 2017 16:39:28 GMT
When selling with AC, are you able to tell where you are in the selling queue (as you are with SS for example) ? Also with AC , if you sell "normally" ie. at par without any premium/discount, then does your sale jump the queue ahead of any selling instigated by AC themselves eg. from the QAA or 30DAA ? (Again this is indeed the case with SS). Thanks. No. IRC AC doesnt using queuing at all. If there is more supply than demand the system will spread the purchases amongst the available sellers, or randomises it if there are too many sellers v buyers for it to be meaningful (that might not happen nowadays) Depends on what the priority is at that particularly time, AC may decide to prioritise their own accounts for business reasons but normally no, the system above applies. AC isnt like any other plaform. That sounds very like the way LC do SM (but with some buyers for non-toxic loans)...
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oldgrumpy
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Post by oldgrumpy on Apr 4, 2017 17:30:23 GMT
I detest AC's stance towards the secondary market. The no Q method means that when, as now, there are substantial five figure amounts available on loans at par, you have to place your loan parts in the pool and may never sell up completely while there are lots more available and new parts being added to the sales pot after yours. Randomly you will sell some, but the only way to be sure of selling when you need to is offer a discount.
For his reason I rarely go in the 8% loans and never sub 8%. Liquidity is very poor on these loans, so if that matters, steer clear.
In my opinion the Q method as on Lendy or MT is far more convenient.
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