PEER-TO-PEER lender JustUs is introducing an auto-buy function on its secondary market in an effort to increase liquidity for investors.
This follows the news that the platform is allowing lenders to sell off ‘slices’ of their loans on the JustUs marketplace.
From 5pm on Friday 29 June, JustUs investors who put a micro-loan up for sale will be randomly matched with a buyer based on their pre-set auto-bid profiles. The sellers will be able to ‘auto-buy’ loan slices up to a certain pre-agreed maximum. This means that sellers can offload loan parts more quickly while buyers are less likely to miss out on new investment opportunities.
Read more: A guide to liquid IFISAs
“We continue to provide great liquidity on our open secondary market,” said JustUs founder and chief executive Lee Birkett. “Positive feedback from lenders has led to the development of a more automated and equitable secondary market.”
ISA and non-ISA lenders with cash on account will be continue to receive 1.2 per cent interest on un-lent cash, even if they have signed up to the auto-bid facility.
Lenders who do not wish to use the auto-bid function can log in to their bid settings and opt out manually.
Read more: JustUs opens first IFISA accounts