registerme
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Post by registerme on Sept 22, 2017 19:06:18 GMT
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ashtondav
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Post by ashtondav on Sept 23, 2017 11:07:31 GMT
I would imagine it's a small proportion of the loan book - but may be bad for the plus market! Oh, actually they may have been classed as low risk and been put in classic.
Hopefully Zopa will make an announcement, but anyway they can operate until the appeal which will take months.
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aju
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Post by aju on Sept 23, 2017 11:53:35 GMT
I'm confused surely zopa will be vetting them just like any other borrower, its one thing to rent a vehicle from uber and another to actually have a loan. Perhaps zopa should add an additional option of allowing us lender to have a choice in the types of loans we lend. Can't see it happening but I would definitely consider it.
On the other news front, my daughter, who uses uber all the time as she works in london will not be a happy bunny!.
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ashtondav
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Post by ashtondav on Sept 23, 2017 14:38:30 GMT
I'm confused surely zopa will be vetting them just like any other borrower, its one thing to rent a vehicle from uber and another to actually have a loan. Perhaps zopa should add an additional option of allowing us lender to have a choice in the types of loans we lend. Can't see it happening but I would definitely consider it. On the other news front, my daughter, who uses uber all the time as she works in london will not be a happy bunny!. I would imagine the credit checking process was the same unless there was some special deal with uber, but it does talk of "partnership" and a "business deal", and "pre approval", and a rate of 6.9% is not high for a sole trader with no history of taxi driving.
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Post by wyndstryke on Sept 25, 2017 9:27:49 GMT
Some of Zopa's partnership deals aren't done with P2P money, but money supplied by their venture capitalists. I suspect this is one of them (because the pre-approval would not be compatible with our agreement with Zopa).
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ashtondav
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Post by ashtondav on Sept 25, 2017 9:57:02 GMT
It would be nice of them to email or blog something about such a potentially large event. I'm guessing that either the DailyWail or the DT will pick up on it soon enough...
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wapping35
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Post by wapping35 on Sept 27, 2017 6:46:11 GMT
As below on UBER:
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Good evening XXXX,
Thank you for your email.
All of the Uber loans were institutionally funded so no retail investors were involved. The loans are secured on the vehicle and our contract is directly with the drivers, not with Uber itself.
I hope I have been able to provide some clarification for you. If you do have any questions for me please do not hesitate to let me know.
Kind regards,
XXXX
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ashtondav
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Post by ashtondav on Sept 27, 2017 7:39:56 GMT
Great! So the big boys get secured loans on cars while the minnows don't.
thanks for level playing fields!
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wapping35
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Post by wapping35 on Sept 27, 2017 13:33:28 GMT
To be honest I am not very keen on having a heavily used Toyota Prius as security especially if it is being sold on mass with 40,000 others in the London car auction market all at the same time.
That said if the UBER license does end I can see buying a second hand Prius might be a bargain.
Happy for loans secured on Land and buildings but I am not very keen on a car , i.e. an asset which depreciates hugely as soon as it leaves the forecourt.
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