In case you have missed out on our weekly videos this month, here’s a recap for you. We gave a walk-through on how to buy and sell loans on the Secondary market. We also gave some tips on what to consider when you want to choose an investment platform. Get right in below to catch up.
How to buy loans on the Secondary Market
Did you know that you can buy secondhand loans from other investors? Well, you can! On the Secondary Market, investors can exchange their loans amongst themselves. Here’s how to buy loans on the Secondary Market.
First, log into your account and click on the Secondary Market tab on the left side of your screen.
On the Bondora Secondary Market page, you can buy both individual loans and entire portfolios. If you want to buy a portfolio, check the “Show portfolios” box in the upper right corner.
Select the magnifying glass to find the exact type of loans you are looking for. You can filter the available loans on the Secondary Market according to your desired criteria. If you can’t find a specific filter in the overview, select “Add More Filters” in the lower-left corner. Input a name and select “Save filter,” so you don’t have to re-enter the criteria on your next search.
Next, click on the shopping cart icon found on the far right of each row for the investments you wish to buy. Once you’ve added all the loans you want to purchase to your cart, click on the “Buy All” button at the top of the page. Finally, enter the verification code sent to your registered email address to confirm the purchase. You now have successfully purchased loans from the Secondary Market.
How to sell loans on the Secondary Market
In our last video, we explained how to buy loans on the Secondary Market. Today, we’ll show you how to sell them.
To sell your loans on the Secondary Market, switch to the Investments tab on your dashboard main menu. On the right side of each row, you will find the settings options for selling your loans. In the “Discount/Markup” column, enter a negative numeric value if you want to sell the loan at a discount, or enter a positive numeric value if you want to sell it at a premium. Then click on the shopping cart icon next to the loan to add it to your basket.
Once you’ve added all the loans you wish to sell, click the “Sell all” button at the top of the page.
In the following window, you can:
- sell the loans as a portfolio and set a price,
- sell the loans to a specific user,
- or cancel the sale if payment is received or rescheduled.
Once finished, click “Continue”. On the next page, enter the verification code sent to your registered email address to confirm the sale.
Things to consider when choosing an investment platform
If you’re new to investing, it might seem like a daunting task. You might not know how to start or how to decide where to invest your money. Well, we’re here to help! Here are 4 things to consider when choosing an investment platform.
1. Type of investment
There is a wide range of investment options, but most platforms do not offer them all. Decide how you want to invest your money and review platforms that have those products.
2. Fees
The point of investing is to earn money, but high fees can reduce your returns. Review the platforms’ administration fees and determine which ones align with your budget.
3. Usability
Some platforms are catered toward seasoned investors and are more complex to use. Find a platform that is suited to your experience and investment knowledge.
4. Service
If you have questions about the products or need help troubleshooting an issue, you will have to reach out to someone for support. Quality customer service can make a difference in your experience. Read feedback about what customers are saying about the support available.
Have other tips for what to consider? Share them in the comments!
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