Relendex, a secured peer to peer lending platform, has announced that its secondary market trading has surpassed the £1 million mark. Specific details on the number or size of trades was not provided. Relendex lists loans secured by both residential and commercial property. Lenders are both private and institutional investors, according to their website.
Launched in November 2016, the Relendex “Resale Marketplace” has facilitated more than £1 million worth of Loan Parts. Relendex says this indicates that lenders have embraced the secondary platform. On the Relendex Resale Marketplace investors are able to buy and sell Loan Parts at par with no fees charged.
Relendex states that providing a secondary market for their listed securities enables lenders to more easily diversify portfolios while providing liquidity for a traditionally illiquid asset class.
“We are glad the lenders are using the Resale Marketplace to its full advantage. Our goal has always been to provide lenders with the flexibility to diversify and liquefy their portfolios as they see fit. That is why we charge no fees for our Resale Marketplace.”