A lender can now place a loan part on the secondary market at either par, or at a discount.
Currently, the discounts are in increments of 0.5% and the new system is proving very popular by making the secondary market more liquid.
Here are some of our very positive customer comments so far:
“Very pleased with the VSM….it was very easy to shift some funds at a discount…. while still making a good rate of return. I can now start rebalancing into other loans and other investors have profited from my sales. Seems like a win-win. Well done MoneyThing.”
“My initial impressions are very favourable, and I have just made a test purchase at a range of discounts up to a limit that was effortless. MoneyThing, I think your techies should be congratulated on a job well done.”
“I’m impressed.” “Looks very slick.” “I had some loan parts up for sale for a while….re-listed them and they were bought in less than 5 minutes.”
Since its launch, £622,464 has been sold via the new variable secondary market. This constitutes a rise of 303% on the previous 19 day’s trading, in which £205,133 was sold, proving what a popular move this has been.