There is a 1.5% transaction fee for both Buyers and Sellers on the Secondary Market. For more information on the transaction fees, please read the Secondary Market Terms & Conditions

Additionally, if the Seller makes a profit (the sell price after paying the transaction fee is greater than the initial purchase price), then a 7.5% carry fee will be charged on any profit earned. 

For example:
If you buy at £100 (after the transaction fee) and sell at £100 (after the transaction fee), you pay £0
If you buy at £100 (after the transaction fee) and sell at £90 (after the transaction fee) you pay £0
If you buy at £100 (after the transaction fee) and sell at £200 (after the transaction fee) you pay £7.50 (7.5% of £100 profit).

This carry fee is also known as the "Administration Fee" that is described in the “Administration Fee” section of the Investment Agreement entered into when the Seller made his or her investment (which can be found in the Seller’s Investment Account). 

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