You can sell your loan parts in the "Sell Loan Parts" tab in My Account for a 0.25% fee, based on the principal amount outstanding. There are two ways to sell your loan parts:
1. Autosale – To use Autosale simply specify the amount you want to raise and click Preview Loan Parts. Autosale will then show you a list of loan parts of a value close to the amount you want to raise. If you are happy with these click Sell Loan Parts and these loan parts will be listed for sale in the Lend section of the website.
2. Sell loan parts individually – Tick the loan parts you want to sell and then click Sell Loan Parts. If you choose loan parts, you can sell these at up to a 3.0% premium or a discount of up to 20.0%. You can sell loan parts for a minimum buyer rate of 4%. These loan parts will then be listed for sale in the Lend section of the website.
Loan parts will be listed for sale for a period of 14 days, during which time other investors can review the loan parts and buy them if they wish. There is no guarantee that loan parts listed for sale will be bought by other investors.
Your ability to sell loans may be influenced by the repayment history of the loan, the interest rate it pays relative to the market, and the balance of investors looking to lend and businesses looking to borrow, at the time of sale.
There may be some circumstances which prevent loan parts from being sold. For example, loans can have their risk band ‘downgraded’ due to a credit event such as an ongoing administration process, or if they are late with repayments.
Investors will not be able to see their own loan parts listed for sale so that they do not mistakenly attempt to buy them. You can see your own loan parts listed for sale in My Account if you select “for sale” from the filter at the top of My Loan Parts. You can also see them in the sell tab under “loan parts for sale”.