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Post by Badly Drawn Stickman on Oct 9, 2018 19:52:57 GMT
Currently as up to date as I can get it 20/11/18 I am moving into withdrawal mode, the returns don't really warrant my continued involvement. I will however happily update this area if anybody has anything they wish adding or altering. Recent post here from benaj which may be of interest linkPlatform Interaction with forumThere seems to be no monitoring of the forum by the platform, I think there was some interaction in the early days I will locate and insert any names I come across at some point. Product Range
Unbolted Gold Trust Loans Protected for loss of principal and interest. Fixed interest rate of 0.50% per month. Unbolted Provision Trust Loans Protected for loss of principal. Fixed interest rate of 0.70% per month. Sale Advance Loans Low LTV and short duration loans. Fixed interest rate of 0.70% per month with minimum interest payment of 3 months. Business Loans Collateralised with pledged stock and covered by a personal guarantee from the Director(s). Fixed interest rate of 0.80% per month. The above rates are correct on 10/10/18 This link provided by dan1 should give current state unboltedLoans are 6 month duration? Secondary Market
No secondary market (probable 6 months full withdrawal period - unless defaults) Reinvestment
Automatic subject to settings No Option to separate interest from capital on reinvesting settings IFISA Not as far as I know, may be pending? FCA Status register.fca.org.uk/shpo_searchresultspage?search=unbolted&TOKEN=3wq1nht7eg7trDeposits and Withdrawals
I have no recent experience, but deposits are bank transfer only currently. Evidence later in this thread would suggest transfers made before 12pm will be available the next day, I would assume this only to apply to working days. Withdrawals, My experience is two days but more information needed, useful post hereInitial set up of bank accounts is by uploading documents or a slightly dubious feeling letting them access your bank account Decision after uploading documents (bank statement was all I required) was within a few hours. Small additional point of interest (literally) Unbolted pay a small amount of interest on money on account not invested. Loan types
Pawn type Jewellery mainly? Typically fairly small allocations, £5 minimum allocation fairly common and distributed by a lucky dip process Below is examples of the kind of things they deal in, supplied by dawn , I notice no cuddly toy in the list but there probably should be. Lots of jewellery - huge number of very expensive watches Various collections of coins Handbags (!!) (I had no idea that some of these had such value until I joined Unbolted) "Classic"? cars (including several Bentleys, a Delorean and various others) Various collections of Silver (some of it from 17C) Various Art works (including Banksey's) Wine collections Musical Instruments (including Cellos and Guitars) and a few other odd things - eg a medal. Any others? Email Notifications
Can become fairly intense, various options are available from the ‘My preference section’ on the home page. Referal scheme
Currently seems no paid version available
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invester
P2P Blogger
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Post by invester on Oct 9, 2018 20:13:53 GMT
Deposits have been quite fast for me. Not instant, but same working day within a few hours.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Post by Ukmikk on Oct 9, 2018 20:16:32 GMT
I've been told twice (early last year, early this year) that an IFISA is on the way but so far no sign of it. Unfortunately, as I would be very keen.
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dawn
Member of DD Central
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Post by dawn on Oct 9, 2018 21:11:11 GMT
Scene one, take one Very much a work in progress, all information currently subject to confirmation. The ambition is to give as much detail as possible on the mechanics of the platform Product Range
Provision Trust and Gold Trust loans benefit from a PF; Bespoke loans to do not. Loans are 6 month duration? Secondary Market
No secondary market (probable 6 months full withdrawal period - unless defaults) Reinvestment
Automatic subject to settings No Option to separate interest from capital on reinvesting settings IFISA Not as far as I know, may be pending? FCA Status Link needed here. when I remember where to look. register.fca.org.uk/shpo_searchresultspage?search=unbolted&TOKEN=3wq1nht7eg7trDeposits and Withdrawals
I have no recent experience, but deposits are bank transfer only? And take a while Withdrawals, My experience is two days but more information needed Initial set up of bank accounts is by uploading documents or a slightly dubious feeling letting them access your bank account Decision after uploading documents (bank statement was all I required) was within a few hours. Loan types
Pawn type Jewellery mainly? Typically fairly small allocations, £5 minimum allocation fairly common and distributed by a lucky dip process Email Notifications
Can become fairly intense, various options are available from the ‘My preference section’ on the home page. Referal scheme
Currently seems no paid version available If anybody wants to throw in some more facts I will add and amend. If anybody wants to throw in some more facts I will add and amend. Loan types - at least for me Lots of jewellery - huge number of very expensive watches Various collections of coins Handbags (!!) (I had no idea that some of these had such value until I joined Unbolted) "Classic"? cars (including several Bentleys, a Delorean and various others) Various collections of Silver (some of it from 17C) Various Art works (including Banksey's) Wine collections Musical Instruments (including Cellos and Guitars) and a few other odd things - eg a medal. Any others?
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Oct 10, 2018 9:03:53 GMT
PF works differently with regard to Provision Trust loans and Gold trust loans;
Provision Trust loans: capital only covered;
Gold Trust: capital AND interest covered (hence lower rate).
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Post by dan1 on Oct 10, 2018 9:37:15 GMT
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james100
Member of DD Central
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Post by james100 on Oct 10, 2018 10:09:33 GMT
Re deposits & withdrawals: they are batch processed 1 working day after the working day on which they are received.
Practically, this means if you place an instruction on Monday night, it will not take effect until Wednesday (because it was received after the end of the bank's working day cut off on Monday, so goes in the "received" batch of working day = Tuesday, then is processed one working day later).
I can't remember the cut off time for "end of working day" but anything instructed before 4pm seems to be received as part of that day's batch and is sorted the following working day morning.
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dawn
Member of DD Central
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Post by dawn on Oct 10, 2018 11:45:56 GMT
Re deposits & withdrawals: they are batch processed 1 working day after the working day on which they are received. Practically, this means if you place an instruction on Monday night, it will not take effect until Wednesday (because it was received after the end of the bank's working day cut off on Monday, so goes in the "received" batch of working day = Tuesday, then is processed one working day later). I can't remember the cut off time for "end of working day" but anything instructed before 4pm seems to be received as part of that day's batch and is sorted the following working day morning. I think they have improved deposits now (I haven't tried a withdrawal yet). I generally deposit during the day and normally my account is credited within 3-4 working hours (sometimes quicker) so if I deposit very late in the day it will appear very early the next morning, otherwise it appears later the same day.
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Post by df on Oct 11, 2018 13:10:29 GMT
Re deposits & withdrawals: they are batch processed 1 working day after the working day on which they are received. Practically, this means if you place an instruction on Monday night, it will not take effect until Wednesday (because it was received after the end of the bank's working day cut off on Monday, so goes in the "received" batch of working day = Tuesday, then is processed one working day later). I can't remember the cut off time for "end of working day" but anything instructed before 4pm seems to be received as part of that day's batch and is sorted the following working day morning. Not anymore. It used to be 4pm cut off time for next day arrival. Now I do it after daily summary (7.30pm) and money are on the account next morning. Not sure what cut off time is now, but on some occasions I've sent money at around 10-11pm and the result was the same.
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snowmobile
Member of DD Central
Posts: 230
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Post by snowmobile on Oct 11, 2018 13:22:50 GMT
Re deposits & withdrawals: they are batch processed 1 working day after the working day on which they are received. Practically, this means if you place an instruction on Monday night, it will not take effect until Wednesday (because it was received after the end of the bank's working day cut off on Monday, so goes in the "received" batch of working day = Tuesday, then is processed one working day later). I can't remember the cut off time for "end of working day" but anything instructed before 4pm seems to be received as part of that day's batch and is sorted the following working day morning. Not anymore. It used to be 4pm cut off time for next day arrival. Now I do it after daily summary (7.30pm) and money are on the account next morning. Not sure what cut off time is now, but on some occasions I've sent money at around 10-11pm and the result was the same. Same for withdrawals. I have queried this with UB previously and been told the cut off time is midnight. Withdrawals up to that time normally arrive to my bank account on the next banking day.
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Post by df on Oct 11, 2018 13:39:05 GMT
Loans are 6 month duration?I have no recent experience, but deposits are bank transfer only? And take a while Withdrawals, My experience is two days but more information needed Normally all loans are 6 months, but I recall at least one non-standard unprotected 12 months loan. Deposits are bank transfers only, this is correct. I only made 2 or 3 withdrawals, but all arrived to my bank account next day.
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orvilorvil
Member of DD Central
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Post by orvilorvil on Oct 11, 2018 14:50:10 GMT
Logged on for the first time recently. Good to see some website development has happened making it more user friendly. Good work.
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benaj
Member of DD Central
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Post by benaj on Jan 28, 2019 12:19:48 GMT
Thanks Badly Drawn Stickman for sharing. I am willing to share my bits: Auto LendIt is important to set the maximum per loan (Provision Trust / Gold Trust / Bespoke Loan) for diversification purpose. Min allocation per loan is £5. I set mine incorrectly on my initial deposit and my largest loan allocation is 12%, but the rest of my allocation are mostly £5 per loan even it was set incorrectly. 6 months loan termMost borrowers do not repay anything before 6 months term except Business Loans. It takes at least 7 months to understand how investment on Unbolted perform. My first 6 months earned 2.5% interest from actual repayment. Overdue loansMost my loans are invested on Provision Trust, and I haven't lost a penny yet. However, due to my incorrect settings in Auto Lend, now I have 40% loan overdue on my initial deposit, largest loan allocation is 12%. UB provides update for these overdue loans. Business LoansThere are 2 types of business loans (Provision Trust / not protected ). Some business borrowers repay full loans pretty quickly within one month. Most of them make repayments or even complete the loan before due date. RecoveryRecovery speed and returns on defaulted loans vary. UB sometimes carry speedy recovery, one of my loans recovered 192 days after start date, XIRR on that recovery is 9.32%. Some other time, the loan is recovered 232 days after start date, XIRR on that loan is 8.52%. Some items can take longer to recover, I have one loan to be recovered 292 days after start date.
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Post by Badly Drawn Stickman on Jan 28, 2019 23:03:19 GMT
Hi benaj I am currently about 4 months into withdrawing from the platform, not due to any great concern, more a case of the diminishing returns and some of your points. I should leave comfortably in profit which is a good way to part company. Very much wish I could do the same with a few other platforms. I will add a link from the original post to yours so that current thinking is reflected.
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Post by GSV3MIaC on Jan 29, 2019 11:12:59 GMT
Yes, me too .. impossible to (safely) keep enough invested to justify the time and effort of managing another platform. Platform is, IMO, running well, but oversupplied with lenders (hence the rate drop) vs suitable borrowers.
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