Autobuy allows investors to place offers to buy loan parts in the Marketplace automatically. It is an excellent way to make sure your portfolio of investments stays balanced over time. It also prevents prevents uninvested cash building up in your account, earning no interest.
With Autobuy, you can set offers with different time limits and Effective Annual Rates (EARs) to make sure you get a good deal – and you can review or cancel your offers at any time.
You can use Autobuy in the Marketplace in three ways:
An offer to buy: you specify how much you want to purchase and the EAR you want to achieve. Sellers can view the offers and sell all or part of their loan instantly.
Single offer: you can also create a one-off single offer, for example to buy into a particular loan.
Repeat offer: this is a great way to keep your investment in a loan at a desired level over a period of time. As borrowers progressively repay their loans, the investment level of any given investor will fall. Repeat offers can be used to buy you back in automatically.
You can set up Autobuy at any time on the investor platform.