Under our existing terms & conditions, when you put a loan up for sale on the Available Loans market you will cease to earn interest on that loan at the point at which you list it for sale, while the loan part is offered for sale the interest will go to Lendy as a fee for operating the secondary market.
Whilst this policy remains unchanged, we draw that to the attention of investors as this will lead to a reduction in the yield on that loan for the selling investor. The policy is to prevent misuse of the marketplace.
Since the platform launched in 2012 the average time taken to sell a loan part was around 24 hours. However, there has been periods for when it has taken longer than 24 hours, for example when there has been a number of loan parts put up for sale by investors. The Lendy Platform still has a very efficient secondary market. However, over recent times it has slowed as a large number of new loans have gone live, therefore promoting investors to sell older loan parts, as a result making the secondary market less liquid. We expect the average time now to sell a loan part to reduce over time.
*Please note if a loan part is offered for sale and then the sale of the loan part is cancelled, investors will only earn interest again from the point they cancel the sale.
*When selling loan parts on the secondary market no interest will be credited to your account, but will go to Lendy as a fee for operating the secondary market.