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Post by dan1 on Dec 13, 2017 15:57:31 GMT
Likewise, they have the borrower's diamond ring in their possession already, and although it is a second charge and ends up close to 100% LTV if you include interest (at a glance didn't actually work it out), I thought that was good enough for a small punt. However, once again I have the forum to thank for being able to do so. I was oblivious until I spotted a post about it here, luckily there was just under £2k still left - transpires my Unbolted email had been sent to the junk folder which is the first time this has ever happened with their emails. In Edit: Just under £600 left now if anyone still fancies some Edit: Gone - noticed at 15:40 I logged on soon after the e-mail and it was already sold out. I don't understand why it keeps appearing and disappearing again? Lenders can change their investment amount until the funds are released to the borrower. I suspect it's lenders who grabbed what they can before the loan filled and then have gone back to do their DD and some have decided to reduce their holding so releasing it back for others to purchase.
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Post by df on Dec 13, 2017 15:57:48 GMT
Interesting! I was allocated only 10% of my target on 'gold' loans. I wonder if anyone knows how exactly the loan parts are distributed? I've set my targets for 'Gold' and 'Trust' at much higher than I really want, but I never get any near to these targets. Well I'm beginning to wonder, given the variable %target reported today. However, I understood it was supposed to be based on your target and the amount of cash you have in your account, so if there wasn't enough to fulfil the target it would be downgraded in some way. Either that was posted/confirmed here somewhere or quite possibly I had an on-line chat about it with Unbolted when I first signed up with them. I'll post back if I find anything here. Thank you, this beginning to make some sense to me. I never have enough cash on the platform to fulfill my oversized targets. Yet, this loan consumed only about 60% of my cash balance.
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Post by df on Dec 13, 2017 16:02:20 GMT
I logged on soon after the e-mail and it was already sold out. I don't understand why it keeps appearing and disappearing again? Lenders can change their investment amount until the funds are released to the borrower. I suspect it's lenders who grabbed what they can before the loan filled and then have gone back to do their DD and some have decided to reduce their holding so releasing it back for others to purchase. Yes, that explains. Thank you. I forgot that most non-standard loans come with this facility, I did change my amount up and down previously.
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msenanna
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Post by msenanna on Dec 13, 2017 16:10:25 GMT
I logged on soon after the e-mail and it was already sold out. I don't understand why it keeps appearing and disappearing again? Lenders can change their investment amount until the funds are released to the borrower. I suspect it's lenders who grabbed what they can before the loan filled and then have gone back to do their DD and some have decided to reduce their holding so releasing it back for others to purchase. oooo - I didn't know that! Thank you for explaining. Good to know as I logged on at 13.40 & saw it had sold out so didn't bother to refresh and re-look a little later. Will try and remember that if another manual loan pops up whilst I am not at work.
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msenanna
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Post by msenanna on Dec 13, 2017 16:17:33 GMT
The loan at 1.1% was gone in few minutes. I was too late for it, but not too disappointed as I didn't particularly like the security arrangement (or lack of it). These non-standard loans are rare. Some of them go in seconds, but some stay available for manual investment for few days and have no limit on how much you can invest. It is also good to keep in mind that they are not covered by provision fund. Ah, thank you for the reminder that they are not covered by the provision fund. One can read T&Cs over and over but not all the pertinent points stick until someone mentions them in passing on a thread. Wouldn't automatically stop me from investing but does give pause for thought and highlights the need for extra/proper DD.
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Post by dan1 on Dec 13, 2017 16:24:51 GMT
Quite a large £78k Gold Trust 0.65% loan has just been allocated. I've got a low autolend target on these type of loans and I was allocated just over 50% of my target on this loan. That's fine by me as it's not out of proportion with other above average allocations I have on some other loans, but it illustrates the dangers of gaming if your target is considerably higher than you really want. I suspect some people might have got a bit caught out on this. Interesting! I was allocated only 10% of my target on 'gold' loans. I wonder if anyone knows how exactly the loan parts are distributed? I've set my targets for 'Gold' and 'Trust' at much higher than I really want, but I never get any near to these targets. Here's my guess... Some prerequisites first: Lenders Maximum = minimum of AutoLend setting and available cash balance - calculated for each lender Total Lender Funds = sum of Lenders Maximum Initial Allocation = number of investors x £5 If Loan Value < Initial Allocation then operate random allocation system, otherwise.... Lender Allocation = £5 + (Lenders Maximum - £5) * (Loan Value - Initial Allocation) / (Total Lender Funds - Initial Allocation) hastily put together so no doubt inaccurate. no error checking (e.g. if Loan Value > Total Lender Funds) and all that, sorry for the pseudo-code.
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Post by beeje13 on Dec 13, 2017 18:28:45 GMT
Interesting! I was allocated only 10% of my target on 'gold' loans. I wonder if anyone knows how exactly the loan parts are distributed? I've set my targets for 'Gold' and 'Trust' at much higher than I really want, but I never get any near to these targets. Here's my guess... Some prerequisites first: Lenders Maximum = minimum of AutoLend setting and available cash balance - calculated for each lender Total Lender Funds = sum of Lenders Maximum Initial Allocation = number of investors x £5 If Loan Value < Initial Allocation then operate random allocation system, otherwise.... Lender Allocation = £5 + (Lenders Maximum - £5) * (Loan Value - Initial Allocation) / (Total Lender Funds - Initial Allocation) hastily put together so no doubt inaccurate. no error checking (e.g. if Loan Value > Total Lender Funds) and all that, sorry for the pseudo-code. It's actually a beautifully simple formula in my eyes. Also, good for UB as they have the data from Autolend settings and cash balances to know how a big loan would be taken up.
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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 Dec 15, 2017 19:16:48 GMT
And another pair of loans totalling £75k ish for the learning curve new investors. And a £350 return from overdues. Happy days.
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msenanna
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Post by msenanna on Dec 15, 2017 19:56:20 GMT
And another pair of loans totalling £75k ish for the learning curve new investors. And a £350 return from overdues. Happy days. Yep, got a chunk of those and had to re-read the T&Cs cos they were noted as being outside the provision trust/fund. I had read this but not having had any since investing in UB I had of course forgotten so a timely reminder. Not an issue as such as already invest via other platforms without a PF. With those 2 business loans and it being a Friday, I need to top up again given I was going on suggestions to drip feed £100 a time and likely take up rate of approx £30-40pw - only topped up on Weds this week! Nice problem to have, not complaining
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Post by df on Dec 16, 2017 7:26:45 GMT
And another pair of loans totalling £75k ish for the learning curve new investors. And a £350 return from overdues. Happy days. Yep, got a chunk of those and had to re-read the T&Cs cos they were noted as being outside the provision trust/fund. I had read this but not having had any since investing in UB I had of course forgotten so a timely reminder. Not an issue as such as already invest via other platforms without a PF. With those 2 business loans and it being a Friday, I need to top up again given I was going on suggestions to drip feed £100 a time and likely take up rate of approx £30-40pw - only topped up on Weds this week! Nice problem to have, not complaining I've reset my unprotected "business loans" limit down after this fiasco Never stop learning with Unbolted. These two nearly emptied my cash account, top up won't arrive there until Tuesday, so there isn't much chance for getting much of standard loans on Monday.
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Post by GSV3MIaC on Dec 16, 2017 7:44:30 GMT
Here's my guess... Some prerequisites first: Lenders Maximum = minimum of AutoLend setting and available cash balance - calculated for each lender Total Lender Funds = sum of Lenders Maximum Initial Allocation = number of investors x £5 If Loan Value < Initial Allocation then operate random allocation system, otherwise.... Lender Allocation = £5 + (Lenders Maximum - £5) * (Loan Value - Initial Allocation) / (Total Lender Funds - Initial Allocation) hastily put together so no doubt inaccurate. no error checking (e.g. if Loan Value > Total Lender Funds) and all that, sorry for the pseudo-code. It's actually a beautifully simple formula in my eyes. Also, good for UB as they have the data from Autolend settings and cash balances to know how a big loan would be taken up. And it'll work better for UB than it did for LY, since with UB you can only overbid/game with real money .. at Ly a lot of people were gaming with INPL funds (to an ever increasing level).
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ding
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Post by ding on Dec 16, 2017 9:56:38 GMT
And another pair of loans totalling £75k ish for the learning curve new investors. And a £350 return from overdues. Happy days. Yep, got a chunk of those and had to re-read the T&Cs cos they were noted as being outside the provision trust/fund. I had read this but not having had any since investing in UB I had of course forgotten so a timely reminder. Not an issue as such as already invest via other platforms without a PF. With those 2 business loans and it being a Friday, I need to top up again given I was going on suggestions to drip feed £100 a time and likely take up rate of approx £30-40pw - only topped up on Weds this week! Nice problem to have, not complaining Reading this came as a surprise, as the autolend emails don't list the loan category. Previously there have been email announcements of a "new loan" where you could reduce your bespoke autolend instruction. Perhaps not this time due to the small size, and being fully funded. These have an LTV +70% of the disposal price. Automatic Lending Instructions for New Loans: 'Bespoke Loans' are restricted to the following two categories of loans: business loans with recourse to the company and a director's guarantee, and auctions financing loans with our auction partners such as F**** A******* where the loan amount is less than 40% of the low auction estimateThat said if this was on Collateral I would have invested a similar amount.
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msenanna
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Post by msenanna on Dec 16, 2017 15:47:54 GMT
Yep, got a chunk of those and had to re-read the T&Cs cos they were noted as being outside the provision trust/fund. I had read this but not having had any since investing in UB I had of course forgotten so a timely reminder. Not an issue as such as already invest via other platforms without a PF. With those 2 business loans and it being a Friday, I need to top up again given I was going on suggestions to drip feed £100 a time and likely take up rate of approx £30-40pw - only topped up on Weds this week! Nice problem to have, not complaining I've reset my unprotected "business loans" limit down after this fiasco Never stop learning with Unbolted. These two nearly emptied my cash account, top up won't arrive there until Tuesday, so there isn't much chance for getting much of standard loans on Monday. Luckily my 'business loans' limit was not very high, just hadn't expected the outlay on top of a good week! I have a few pennies left for Monday so might just scrape through till Tuesday. I know more about UB and how the various loans work so a good week for me even if I am running on pennies for 24 hours
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star dust
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Post by star dust on Dec 20, 2017 18:38:47 GMT
In response to the thread title - not today it seems. Bit of a bumper loans day, 11 of them including a new medium sized one against a car, although 5 4* of those were renewals. Hoping it wasn't a final Friday style fling before the Xmas shut-down I've just transferred over a mini top up . Edit: * something changed, I think a loan was withdrawn and another new one issued?
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Post by dan1 on Dec 20, 2017 19:53:02 GMT
In response to the thread title - not today it seems. Bit of a bumper loans day, 11 of them including a new medium sized one against a car, although 5 4* of those were renewals. Hoping it wasn't a final Friday style fling before the Xmas shut-down I've just transferred over a mini top up . Edit: * something changed, I think a loan was withdrawn and another new one issued? Predictable given that I'd made a withdrawal yesterday! I was lucky enough to get 7 standard and 1 gold trust loans today and only one of those was a renewal. Hope for another Banksy tomorrow for a hat-trick
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