Ukmikk
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Post by Ukmikk on Sept 25, 2017 18:57:07 GMT
New loans has slowed to a trickle of dribs and drabs, repayments are outstripping investments and my cash balance is creeping upwards. I'd love to deposit more but for the first time I am considering the opposite.. withdrawal. ashwinp I would welcome an update on future plans, how you see your business growing to meet demand, your IFISA plans and how that will be managed, loans pipeline growth etc as it feels to me that currently the wind is dropping out of the Unbolted sails. Or is this it, take it or leave it?
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agent69
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Post by agent69 on Sept 25, 2017 19:05:05 GMT
I wish you had told me that before I put money into a new account.
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applets
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Post by applets on Sept 25, 2017 19:28:32 GMT
I am not sure that the number of new loans has changed that much in recent months. However, I am guessing that the growing publicity for Unbolted in various places has significantly increased the number of lenders. The introduction of £5 loan parts being issued to a random selection of lenders is a response to this growth and has certainly reduced the number of loans that each lender can participate in (I have so far only achieved a 35% allocation). As the platform's popularity increases so the threshold for £5 loan parts will increase - already it looks as if any loan under £1400 is subject to random allocation. It is not surprising therefore that there are now many days when repayments exceed what can be invested.
Where does Unbolted go from here? By their vary nature, many of the items pawned are of relative low value and any increase in their number will just lead to more randomly allocated £5 loan parts. Perhaps more business loans? Although these of course are not (currently) subject to any of the protection arrangements.
Sadly, I think the best days of Unbolted may be behind us.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Sept 25, 2017 19:37:24 GMT
Got to agree with your assessment of the current situation. It's not unusual in p2p land atm for lender demand outstrips supply of decent opportunities whatever the asset.
It looks to be moving back to the lumpy early days of getting what we can of the bigger loans. Just delays the issue for 6 months though.
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applets
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Post by applets on Sept 26, 2017 6:10:33 GMT
Having given further thought, I wonder if it would be helpful for Unbolted to group the various pawn loans each day and allocate parts in the grouped loans each day. Depending on the total value of the loans each day, this may permit all lenders to receive a daily allocation instead of the current random £5 approach. With the amount of money sitting uninvested in lender accounts, Unbolted would know with a high degree of certainty that the funds are there each day to cover any approved loans.
With advice on MSE from a leading poster for a cautious investor to put £13k to £21k into Unbolted over a six month period, it is inevitable that the current over supply of funds will only continue or get worse.
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savernake
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Post by savernake on Sept 26, 2017 9:38:45 GMT
Having given further thought, I wonder if it would be helpful for Unbolted to group the various pawn loans each day and allocate parts in the grouped loans each day. Depending on the total value of the loans each day, this may permit all lenders to receive a daily allocation instead of the current random £5 approach. With the amount of money sitting uninvested in lender accounts, Unbolted would know with a high degree of certainty that the funds are there each day to cover any approved loans.
With advice on MSE from a leading poster for a cautious investor to put £13k to £21k into Unbolted over a six month period, it is inevitable that the current over supply of funds will only continue or get worse. I'd be surprised if anyone could manage to get £13k to £21k invested in Unbolted! Newer investors to the platform who may have joined only in the last few months will be lucky to reach the £2k required to qualify for the cashback. I've been here for 2 months and I'm still nowhere near. I had initially hoped to invest a five figure sum, but I've had to lower my expectations. I still love the platform, but I don't see how they can scale up without moving away from pawn loans. This is what FS have done and it doesn't seem to have been very successful judging by the frequent grumbling on their board. I hope Unbolted don't fall into the same trap. Maybe someone should post a reply on MSE informing its readers of this situation before they start piling in and making the situation worse.
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jimc99
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Post by jimc99 on Sept 26, 2017 9:49:31 GMT
As an early investor in Unbolted I am happy with my total investment and find that the new loans outweigh those completing. My uninvested money slowly gets put to work.
Can imagine that newer investors get frustrated with the slow loan allocations they get but hang in there and the money gets invested eventually.
Still by far my favourite site, hassle free, good protection, hands off. Long may they continue and grow.....
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n
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Yet another Nick
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Post by n on Sept 26, 2017 10:13:40 GMT
Having given further thought, I wonder if it would be helpful for Unbolted to group the various pawn loans each day and allocate parts in the grouped loans each day. Depending on the total value of the loans each day, this may permit all lenders to receive a daily allocation instead of the current random £5 approach. With the amount of money sitting uninvested in lender accounts, Unbolted would know with a high degree of certainty that the funds are there each day to cover any approved loans.
With advice on MSE from a leading poster for a cautious investor to put £13k to £21k into Unbolted over a six month period, it is inevitable that the current over supply of funds will only continue or get worse. I have deposited £8k in the last 6 months to keep my available cash at a steady level. Would have been more if it had been lent out quicker. I love it to bits and will stick with it come what may, unless they start going down the property route.
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archie
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Post by archie on Sept 26, 2017 10:29:27 GMT
I joined just under a month ago, deposited 2k, 807 invested so far.
Edit: I'm happy with this, just giving some figures so new lenders don't expect too much.
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greatmarko
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Post by greatmarko on Sept 26, 2017 11:46:32 GMT
I can understand new lender's frustrations, however, personally, I'd rather have a slower deal flow of "bling" than Unbolted moving across into property loans (like FS, COL, etc have done previously). There's more than enough property platforms out there, so good on Unbolted for sticking to the niche they're good at!
Right now, Unbolted are the only platform still exclusively offering "bling". For example, in a recent poll on these forums, 90% of Collateral's investors wanted them to "bring back the bling" since they diversified away and into property.
I don't want to see Unbolted go in the same direction, so I'm happy with a comparatively "slower" deal flow of "bling" on Unbolted - it's better than no new "bling" and all property loans!
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Ukmikk
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Post by Ukmikk on Sept 26, 2017 13:56:11 GMT
greatmarko I agree I would be happy with a steady flow of quality bling loans, however I'm finding my cash balance rising as there is not enough investment coming through. I have been investing steadily for about 6 months so not sure if that makes me a new lender. I love the site and would happily keep on increasing my holding but that seems impossible at the moment.
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ben
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Post by ben on Sept 26, 2017 21:09:49 GMT
I have never understood why some investors think they have a right to invest whatever they want and if they can't the company must do something about it.
Unbolted is pretty different to the others sites on here and although it has probably my smallest investment due to being unable to invest large amounts it is probably my favorite site. The risk/reward ratio works nicely for investors and there is a decent deal flow so I can steadly increase my investments over time.
We have seen it time and again that sites have grown to meet the demands of investors and just look how well they have worked out, the only one at the moment making a decent effort of it is MT. Greed from investors and companies have caused the majority of the issues that we see in P2P.
Just throw the odd thousand at it now and again and your balance will steadily increase over time. Surely its better for a company to have less loans but less losses then trying to find borrowers for funds, as we have all seen how that works out.
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Ukmikk
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Post by Ukmikk on Sept 27, 2017 8:35:54 GMT
As I have stated, my investment balance is not increasing over time. In fact I can't shift my remaining 250 quid so I don't think throwing another thousand at it will be very helpful. Thanks anyway for the suggestion.
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ben
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Post by ben on Sept 27, 2017 12:24:11 GMT
As I have stated, my investment balance is not increasing over time. In fact I can't shift my remaining 250 quid so I don't think throwing another thousand at it will be very helpful. Thanks anyway for the suggestion. How much have you get set as the maximum for each loan? and are you investing in all loan types or just the one
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Ukmikk
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Post by Ukmikk on Sept 27, 2017 16:32:10 GMT
As I have stated, my investment balance is not increasing over time. In fact I can't shift my remaining 250 quid so I don't think throwing another thousand at it will be very helpful. Thanks anyway for the suggestion. How much have you get set as the maximum for each loan? and are you investing in all loan types or just the one £300, All.
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