Ukmikk
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Post by Ukmikk on Oct 2, 2017 18:01:57 GMT
A sad day. My first ever withdrawal from my rising cash balance.
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applets
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Post by applets on Oct 2, 2017 18:55:09 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. I am not sure that investors do think they have a right to invest whatever they want. The OP was expressing concern about the growth in his cash balance and asking for information on Unbolted's future plans.
If you have been a long term investor with Unbolted you will be aware that the number of new loans has in fact increased considerably. However, this growth appears to have been more than matched by an increase in the number of investors/ new money. The result is that as loans come up for renewal, automatic investment generally results in a smaller allocation than you had before. If the loan is less than £1400 or so, and therefore subject to random allocation, then you may not get any loan part at renewal or, at best, just £5. This unfortunately contributes to cash balances increasing.
Certainly, for me, the period between topping up my balance with new funds has lengthened in recent months.
My concern is that demand will continue to outpace supply and the number of loans subject to random allocation/ £5 allocations will increase. Funds deployed on the platform will therefore continue to fall naturally.
It may well be that the current situation is acceptable to the majority and the prospect of a well diversified portfolio of £5 loan parts is what they are seeking. However, even Unbolted has recognised the need to introduce business loans and auction loans as a means to grow their business/ help meet demand from investors. To date, these new format loans have performed well albeit without the benefit of the protection funds. They will probably not be for everyone therefore, but for some they may provide an alternative place to invest slightly larger sums alongside the original pawn loans that we all like and want to continue.
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archie
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Post by archie on Oct 3, 2017 6:22:51 GMT
It occurred to me that as Christmas approaches the number of loans should increase. Anyone lending last year that can provide any insight?
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Post by pmjenkins on Oct 3, 2017 9:32:16 GMT
I'm wondering if the reduction in loans on Unbolted is because another (new) P2P lender is stealing their business with more attractive rates???
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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 Oct 3, 2017 10:32:10 GMT
It occurred to me that as Christmas approaches the number of loans should increase. Anyone lending last year that can provide any insight? Post Christmas when credit card bills come in would be my guess for a peak Archie. You could be right this year, with low pay increase and increasing inflation, money for Christmas may be tighter than last year and lead to an increase in pawned items.
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dermot
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Post by dermot on Oct 3, 2017 11:10:15 GMT
I got my chunk of the artwork plus a randomised £5 this morning.
Guess I'll shuffle another few quid in.
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jonah
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Post by jonah on Oct 3, 2017 12:05:38 GMT
3x random £5 today so far, no ‘normal’ loan parts though. Added to the repayments today and it’s looking like Unbolted is getting close to capacity.
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fp
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Post by fp on Oct 3, 2017 13:26:27 GMT
Unfortunately it seems that the number of lenders is now too high to get any real level of investment in the platform.
My last deposit was 23rd August, since then i've managed to get just over £500 extra invested, I had a break from investing so have no repayments due until late November, so this is due to early repayments and smaller bites of the loans.
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Ukmikk
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Post by Ukmikk on Oct 4, 2017 9:06:38 GMT
Yesterday I had five repayments totalling £123.83 and one investment of £5. At this rate I'll be making another withdrawal very soon. It's a shame ashwinp doesn't see fit to comment here and provide some guidance for investors on what we can expect from Unbolted going forward.
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archie
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Post by archie on Oct 4, 2017 9:12:32 GMT
Yesterday I had 3x £5 and a £100.
Joined around a month ago, just over £1000 invested so far.
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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 Oct 4, 2017 10:12:24 GMT
Yesterday I had five repayments totalling £123.83 and one investment of £5. At this rate I'll be making another withdrawal very soon. It's a shame ashwinp doesn't see fit to comment here and provide some guidance for investors on what we can expect from Unbolted going forward. I share your frustration on seeing the increasing balance on account. I noted with fellow investors, at the time of the change to £5 random allocations, that I expect my automatic invested figure to halve over the next 6 month cycle. This has been further exacerbated by the statements on moneysavingexpert which have driven more money to platform than it can currently cope with. To expect Ashwin to come onto a public forum and give away the future plans for the company is unwise. Why would he give this information away to competitors until the company is ready to move?
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Post by beeje13 on Oct 4, 2017 12:03:21 GMT
I can appreciate the problems that investors with larger amounts might have.
However I personally would rather Unbolted have the odd quiet week than start lowering standards and offering poorer quality loan opportunities just to increase origination volume.
I'm positive that they are continuously looking at ways to grow business healthily.
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fp
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Post by fp on Oct 5, 2017 7:30:47 GMT
I'm wondering if the reduction in loans on Unbolted is because another (new) P2P lender is stealing their business with more attractive rates??? Do you have anyone in mind, or just a hunch?
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Post by pmjenkins on Oct 5, 2017 15:51:04 GMT
I'm wondering if the reduction in loans on Unbolted is because another (new) P2P lender is stealing their business with more attractive rates??? Do you have anyone in mind, or just a hunch? I don't have anyone in mind. I just wondered if anyone had noticed more bling loans on another P2P site.
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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 Oct 5, 2017 16:25:53 GMT
Do you have anyone in mind, or just a hunch? I don't have anyone in mind. I just wondered if anyone had noticed more bling loans on another P2P site. At least you triggered me to go do some more platform research. It would be good if one of the massive pawnbrokers began to offer p2p access.
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