Cashing out because of court case (UB)

Due to the lack of my own understanding of the platform and cash drag in the beginning, I over-invested this borrowers "standard" loans a bit via Auto-Lend. Although my portfolio in UB have been re-balanced over the past 12 months, I am unable to reduce accrued interest due to this case. XIRR (excluding accrued interest) is 6.88%. 

People need to define cash drag after taking out the alternative.  In my case Marcus 1.4%. Therefore anything not earnings interest is loosing me 1.4%.  

I looked on the home page and they said "60% maximum loan to value". I take it there is page which gives average LTV? Who are the lending partners? Us?

I might need a refer a friend link!!

Hi sd2, not sure where you saw the 60% LTV figure, I couldn't seem to find it. They currently have 22 loans with an average LTV of 25% and a maximum LTV of 50%. The stats are available on the Live Data Feed once logged in. 

There is an intention to use more loan partners, but they currently use just one; HandF Finance Limited. The partner takes on the junior position in each loan (the second charge), so they (HandF) stand to lose all of their investment in a loan before we, senior partners, lose a penny, hence they have a very big incentive to choose projects wisely.

Really! I thought I would be limited to 10%, not that I have anywhere near enough friends for that 😥. Or do you have some other Early Adopter or Big Hitter bonus that I'm unaware of? 

Going back to Sept and the failed application for disclosure of the names of the 612 individual lenders for his 42 UB loans.

Not sure how long this has been available, but I have found the full judgment is open access on a website called Casemine. Can't give a link as it would identify the borrower.

This is the judge setting out his reasons for not granting the application, and it tells you everything about the character of this borrower and the judge's disdain for his attitude. Also reveals what is sought - damages and release from paying the interest or repaying the loans. UB's team offered (not taken up) to lodge a £25K bond as likely to be more than required should damages be awarded against them (in the future hearing). 

Also some IMO veiled criticism of the 'London Loan' judge who set the precedent for disclosing lenders' names to a P2P borrower. And that case, incidentally, is also available on the same website.

Lenders in the loans should look at the judgment, if they want an insight into the toxicity of this character and the malice towards us that he was stupid enough to reveal in a long threatening letter to UB, which clearly appalled the judge. 

He may have connections