MoneyThing to allow discounts and premiums on secondary market
MONEYTHING is set to allow loans to be sold at premiums and discounts on its secondary market after seeking feedback from its investors.
The peer-to-peer business lender surveyed its customers and found that 65 per cent supported the changes, so the platform has said it will introduce the functionality in the new year.
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“We have always listened to our customers and feedback from customers has informed much of our product development,” Sophie Pearce, managing director at MoneyThing, said.
“While the details around premiums and discounts have been hotly debated, the overall demand is clear.”
Currently, loans are offered on the secondary market at par, but the platform says offering discounts may improve liquidity and would ensure the market is populated by serious sellers.
A separate poll on the P2P Independent Forum, a social media forum for P2P investors, asked whether the platform should introduce discounting. It found that 59.65 per cent of investors were in favour of the change, 38.01 per cent were against it, and 2.34 per cent said they do not know.