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Saving Stream launch secondary market
Saving Stream, one of the newer peer-to-peer providers specialising in lending against assets, has announced the launch of their secondary market. The company has interacted with lenders on the P2P Independent Forum and we believe this has been a useful discussion for both Saving Stream and existing lenders.
Here is the full statement from Saving Stream:
We are very pleased to announce the launch of the Saving Stream Secondary Market.
This feature allows you to release all or some of the capital in your loan part, prior to the loan ending. You can choose to sell all of, or a percentage of a loan part. This value is then added to the available funding on the 'Loans' page to give other investors the opportunity to purchase the loan part value.
Once 100% of your designated loan part has sold, the loan part value will be credited to your available balance for withdrawal or reinvestment. The interest earned will be credited to your available balance upon repayment of the loan. Interest will cease to accrue on your loan part at the point at which you confirm you wish to sell it.
A loan part can be sold by visiting the 'Loan Part Detail' page which can be found under Account > Dashboard > Live Loan Parts and by selecting a loan part.
You may experience an increased time for withdrawal processing if your loan part has been purchased by an investor who funded their account using the GoCardless method.