LandlordInvest temporarily removes secondary market re-listing restriction
LandlordInvest has temporarily removed a restriction on letting investors remove and later relist a loan on the secondary market.
The peer-to-peer buy-to-let lender overhauled its secondary market in April with new rules stating that investors may not relist a loan that they have removed from the market for 14 days.
But it is conducting a new trial that will allow investors to do this until 27 October.
“You may during the trial period remove a listed loan or loan part from the secondary market without any restrictions on re-listing the same loan or loan part,” LandlordInvest said.
It is the latest change to the platform’s secondary market since it added a new discount option in June.
Investors can now sell loan parts at up to 20 per cent below par value on the peer-to-peer buy-to-let lending platform.
The platform also increased its sale fee from 0.25 per cent to 0.5 per cent.
LandlordInvest said last month that it expects to break even or make a small profit in 2020, despite a challenging first half of the year due to Covid-19.
Filip Karadaghi (pictured), chief executive of the peer-to-peer property lender, told Peer2Peer Finance News that the pandemic played a part in the platform experiencing an annual reduction in revenues and loan originations in the first six months of the year.
He said that revenues halved from the second quarter of 2019 to the second quarter of 2020.