From 13 April 2020, we will introduce a small 0.85% fee for selling loans on the Secondary Market. We believe this is a fair and transparent fee that will help us cover the costs, and that sets us on par with or below other leading platforms in Europe and the UK. With 38% of our active investors having used the Secondary Market, and about € 700 000 worth of loans sold each day on average¹, our Secondary Market offers considerable liquidity to those investors who want to exit an investment early.
This fee will apply to investors selling their investment on the Secondary Market, and will be applied after the sale. We have no plans to introduce any other fees. Investing will continue to be free of commission on both the Primary and Secondary Markets, and so will Invest & Access cashouts. We also have no fees for depositing or withdrawing money.
¹ In the period of 30 March 2019 to 29 March 2020