In line with our regulatory and/or legal requirements, we will sometimes suspend secondary market (Available Loans) trading for loans which are in term or when a loan is overdue, when we receive, or become aware of, information which we consider to be material and which we think may significantly impact upon a lender’s decision to purchase or sell relevant loan parts on the secondary market (Available Loans).
Were this to occur we would give an ad-hoc platform notification to lenders outlining the situation. Trading of the loan on the Secondary Market would remain suspended until such time as our investigations convince us that the issue is immaterial or that disclosure of the issue is sufficient to enable the suspension to be lifted.
Please note that in the event of a suspension of secondary market trading, those with loans for sale at the point of suspension will not receive or accrue interest in line with our usual policy. Lenders may therefore wish to cancel the sale of suspended loans.
Please note that any accrued interest from the point of suspension will be paid to Lendy as a secondary market fee.
For information on 'non-performing' loans please see our Collections & Recoveries policy.