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30-07-2016, 02:33 AM
#111
Junior Member
Thumps up to Squirrel Money for starting AutoBid function! No news about secondary market, anyone know anything about it?
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11-08-2016, 10:46 AM
#112
Junior Member
Woo Hoo! Secondary market is here!
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11-08-2016, 11:31 AM
#113
Member
Between their automated email system detailing when large one off principal payments have been made and now autobid, these P2P funds basically look after themselves.
There is literally nothing I have to do anymore.
Not a huge fan of how little info there is on the loans available to be filled, however with autobid I guess it doesn't matter anymore.
Will be interesting to see if they separate out the secondary market loans from new ones. One only assumes this will make Squirrel more popular now that funds are (reasonable) liquid. Hopefully they are actively promoting this as a competitive advantage along with the reserve fund model as points of difference compared to the other providers.
The only thing I don't like is how only 10 lines of data are displayed on any one page, be it transaction statements or the investments. Seems silly to limit like this, I want to be able to see all of my investments on one page and not mixed in with all the repaid loans.
Otherwise both the IT and product offered from the investor side seems very good.
Last edited by unhuman; 11-08-2016 at 11:41 AM.
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11-08-2016, 11:36 AM
#114
Junior Member
Originally Posted by unhuman
Between autobid and their automated email system detailing when large one off principal payments have been made, these P2P funds basically look after themselves.
There is literally nothing I have to do anymore.
Not a huge fan of how little info there is on the loans available to be filled, however with autobid I guess it doesn't matter anymore.
Will be interesting to see if they separate out the secondary market loans from new ones.
The secondary market loans are appearing separate in the market. There is currently one 2 year and one 5 year for sale. The bids appear as bars going upwards, while the secondary market loans appear as bars going down.
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11-08-2016, 11:43 AM
#115
Member
But I can't seem to see the remaining term of those 2 and 5 year loans up for sale?
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11-08-2016, 11:47 AM
#116
Junior Member
Originally Posted by Kelvin
But I can't seem to see the remaining term of those 2 and 5 year loans up for sale?
Correct! I will email them and see what they say about this. Good observation.
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11-08-2016, 12:05 PM
#117
Nest Egg
Originally Posted by unhuman
The only thing I don't like is how only 10 lines of data are displayed on any one page, be it transaction statements or the investments. Seems silly to limit like this, I want to be able to see all of my investments on one page and not mixed in with all the repaid loans.
You can append "?pageSize=100" to the end of the Investments URL to see 100 loans.
e.g. https://app.squirrelmoney.co.nz/enti...23/investments?pageSize=100 (where 123 is your investor number)
If that's useful then create a bookmark for Ron.
(later Ron.)
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11-08-2016, 12:26 PM
#118
Member
Originally Posted by Chickens
Thank you!
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11-08-2016, 12:49 PM
#119
Junior Member
Originally Posted by Kelvin
But I can't seem to see the remaining term of those 2 and 5 year loans up for sale?
Ok. I emailed them. They said that this is clarified in their investor booklet on page 14. It says:
"A new investor will be automatically matched to and transferred an investment that is being sold if their investment order matches the amount and interest rate. The term remaining of the investment to be sold must be within 3 months of their requested term for 24 month and 36 month investment orders (12 months for 60 month investment orders). For example, this means a new investor with an investment order of 36 months will be automatically matched to an investment being sold with 34 months remaining. An email will be sent to a new investor to accept or decline an investment when the remaining term on an investment that is for sale is outside this tolerance."
They also said that they will be looking at displaying the term in future. Sounds good to me.
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11-08-2016, 01:57 PM
#120
Member
Originally Posted by AndyKiwi
The secondary market loans are appearing separate in the market. There is currently one 2 year and one 5 year for sale. The bids appear as bars going upwards, while the secondary market loans appear as bars going down.
So loans are always sold at exactly face value ?
It could be hard to sell some loans at face value quickly or at all. Eg 5 years @ 8% when there are alot of new loans going for 8.5 or 9%
What would happen if interest rates rise - you would not be able to sell loans without discounting - which I dont think you can do.
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