ding
Member of DD Central
Posts: 238
Likes: 132
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Post by ding on Aug 1, 2017 11:51:01 GMT
Exactly - no fee to sell out rolling. However, you cant sell the same day so you have at least one day at the lower rate before selling and reinvesting. You can. I've sold out rolling and within minutes got all my money. Then bought back into rolling at a higher rate. Not sure if you end up loosing a days interest though.
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Post by misotu on Aug 5, 2017 21:38:48 GMT
I did this for the first time this week, selling out at 2.8% and buying back in again at 3.5%. The sale took seconds, despite no funds on offer at 2.8%. Purchase was completed a couple of hours later when the rate reached 3.5% at my point in the queue.
But on the same-day sale point, I did have one weird thing. I noticed that some of my funds lent - I think - on 21 July or thereabouts had a loan start date of 24 July. Only spotted it by chance on the day they were "lent" and was in the middle of other things so noted it, thought "weird" and forgot to query it. When I sold my funds, it happened to be the 24th and I could not sell that loan because it had literally started that day, according to the system. Is this a regular thing? And if the loan is dated 3 days after my funds have been matched and lent, am I actually not receiving interest for those 3 days despite my money being tied up in a loan? I intend to query it with RS but just wondering if anyone has any experience of this?
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Post by misotu on Aug 5, 2017 21:44:39 GMT
Exactly - no fee to sell out rolling. However, you cant sell the same day so you have at least one day at the lower rate before selling and reinvesting. You can. I've sold out rolling and within minutes got all my money. Then bought back into rolling at a higher rate. Not sure if you end up loosing a days interest though. I think cavalier was saying that you can't lend and then sell that loan same day. Which is what I have found as mentioned in the previous post (even though I didn't actually lend and then try to sell on the same day (!) Conversely, you definitely can sell and lend on the same day, as you've said.
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