Funding Circle slow selling

Investor Liquidity

Now at least 90 days to sell loan parts.

See the following.

Close gap between, ' . com'

http://p2pindependentforum. com/thread/14673/selling-loans-frame-updated-daily?page=1

Since 25/6/19, average selling times have extended by 1.7 days for every passing calendar day

If this trend continues, a sale started today (13/8/19) would complete in 243 days time (12/4/20)

Investor Liquidity

Now at least 93 days to sell loan parts.

Funding Circle state 'loan parts sold between 07/08/19 and 13/08/19 took on average 88 days to sell.' .

This is rather misleading, as it is based on a sale that was initiated 88 days previous to those dates, around mid May.

Selling times are extending by an average of 1.7 days for every passing calendar day, since 25/6/19, when processing loans were kept in the selling queue.

If the trend continues, a sell instruction initiated today (18/8/19) would take 8 months for the sale to go through.

However, if FC stand by their terms & conditions, selling could become impossible & I quote :-
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'10.6. There is no guarantee that your Loan Parts will be transferred, nor any assurance as to how long it may take to do so. If a transfer has not been successful within 120 days after you make your request, we will delist the Loan Parts from the secondary market of the Funding Circle Platform. We will notify you if the transfer is not successful and you will continue to be the Investor in respect of the unsold Loan Parts.'
_____________________________________________________

Hopefully Funding Circle will not allow the queue to extend that long, by changing their priorities.

The loans sold by sellers are all free from bad dept & late payments.

FC quote in their lending facts "Your funds will be lent to businesses who borrow over 6 months to 5 years, but you have options to access your money at any stage". This is also misleading.

Unable to ascertain if the wind down of the FC Investment Trust is jumping the queue.

If you are selling loans please visit the following & give your sell instruction date, especially if you have a date that fills in the gaps on the list.

http://p2pindependentforum.com/thread/14673/selling-loans-frame-updated-daily?page=1

27th may listed

9th September sold

When listed was told average of 56 days
Actual time was 104 days

Second lot listed 7th July

Thrugelmir wrote: »

2.6% beats both Gilts and Blue Chip Corporate bonds.

Only because I have it in an ISA wrapper. I hold $JPST which has out-performed Funding Circle.