upperdeane
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Post by upperdeane on Dec 9, 2019 14:00:46 GMT
Has anybody else noticed that Unbolted auto-lend is going mad today. I've had lots of transactions go through in my standard and ISA accounts at MUCH higher loan values than normal.
Maybe it's because a lot of people haven't re-set their new settings since the provision finds were scrapped on Friday evening and therefore aren't getting a cut of the loans today?
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Post by Ace on Dec 9, 2019 15:05:07 GMT
I think you're right, I'm getting much larger chunks than normal.
Another reason will be that some lenders will have decided not to lend due to the removal of the provision trusts for new loans.
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benaj
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Post by benaj on Dec 9, 2019 17:01:17 GMT
I haven't updated my settings / UB strategy for at least 2 months, so I don't notice any difference.
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upperdeane
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Post by upperdeane on Dec 9, 2019 17:51:51 GMT
I haven't updated my settings / UB strategy for at least 2 months, so I don't notice any difference. I maybe wrong, but i think if you don't update them since the change on Friday, the default was to only lend into gold loans. The other options seemed to have changed to zero for my accounts.
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applets
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Post by applets on Dec 9, 2019 19:52:45 GMT
Alternatively, some lenders may be deterred by the fact that at least one of the large watch dealer loans is now almost 2 months overdue and technically in default. While Unbolted hopes to renew the loan in a couple of months time in conjunction with the implementation of a secondary market, in the current p2p climate the failure to repay a large loan (with potentially more to this same dealer to follow) may not be viewed as good news.
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sd2
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Post by sd2 on Dec 9, 2019 20:28:10 GMT
Alternatively, some lenders may be deterred by the fact that at least one of the large watch dealer loans is now almost 2 months overdue and technically in default. While Unbolted hopes to renew the loan in a couple of months time in conjunction with the implementation of a secondary market, in the current p2p climate the failure to repay a large loan (with potentially more to this same dealer to follow) may not be viewed as good news. Secondary market? Not read anything about that??
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sd2
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Post by sd2 on Dec 9, 2019 20:46:38 GMT
Had about £950 cash balance this morning. Gold was set at £500.....got a staggering £225 gold loan! With 4 more loans (1gold) adding up to £52. Alas 1 is a watch loan at 79.5% ltv. 4 of the 5 were renewals. 65% to 80% ltvs. With borrow rate of 52% APR for the 80% ltv which was a gold loan. All those numbers look a little riskier than I expect. Opinions and not on a postcard!
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sd2
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Post by sd2 on Dec 9, 2019 20:50:51 GMT
Alternatively, some lenders may be deterred by the fact that at least one of the large watch dealer loans is now almost 2 months overdue and technically in default. While Unbolted hopes to renew the loan in a couple of months time in conjunction with the implementation of a secondary market, in the current p2p climate the failure to repay a large loan (with potentially more to this same dealer to follow) may not be viewed as good news. A lot of watches all possibly going to be auctioned at the same time. Glad my standard loan is set much lower than my gold loans.
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applets
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Post by applets on Dec 9, 2019 20:51:46 GMT
Alternatively, some lenders may be deterred by the fact that at least one of the large watch dealer loans is now almost 2 months overdue and technically in default. While Unbolted hopes to renew the loan in a couple of months time in conjunction with the implementation of a secondary market, in the current p2p climate the failure to repay a large loan (with potentially more to this same dealer to follow) may not be viewed as good news. Secondary market? Not read anything about that?? Loan 2DFDC5F12: - "These loans were issued with a maturity date of six months and are therefore technically overdue. We wish to renew these loans but we would ideally like to create a secondary market for these loans and issue them for longer periods of 24 months. Hence the delay in renewing them. We wish to get this implemented in the next two months. Please bear with us."
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sd2
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Post by sd2 on Dec 9, 2019 21:05:18 GMT
Thanks applets
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upperdeane
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Post by upperdeane on Dec 9, 2019 21:57:13 GMT
Alternatively, some lenders may be deterred by the fact that at least one of the large watch dealer loans is now almost 2 months overdue and technically in default. While Unbolted hopes to renew the loan in a couple of months time in conjunction with the implementation of a secondary market, in the current p2p climate the failure to repay a large loan (with potentially more to this same dealer to follow) may not be viewed as good news. Interesting. I'm fairly new to the platform... A few weeks. How do I identify if I'm in the other newer loans to the same borrower you refer to?
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Post by df on Dec 9, 2019 22:31:05 GMT
Has anybody else noticed that Unbolted auto-lend is going mad today. I've had lots of transactions go through in my standard and ISA accounts at MUCH higher loan values than normal. Maybe it's because a lot of people haven't re-set their new settings since the provision finds were scrapped on Friday evening and therefore aren't getting a cut of the loans today? Yes, large chunks today. I recall experiencing the same when they've cut the rates. It's a common trend across platforms - when the rates go down or when less favourable T&C is introduced many lenders are exiting and in UB's case that increases the chunk sizes for those who decided to stay. Despite large hand outs today, my uninvested cash has increased because I had more repaid than invested.
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Post by df on Dec 9, 2019 22:36:46 GMT
Alternatively, some lenders may be deterred by the fact that at least one of the large watch dealer loans is now almost 2 months overdue and technically in default. While Unbolted hopes to renew the loan in a couple of months time in conjunction with the implementation of a secondary market, in the current p2p climate the failure to repay a large loan (with potentially more to this same dealer to follow) may not be viewed as good news. Interesting. I'm fairly new to the platform... A few weeks. How do I identify if I'm in the other newer loans to the same borrower you refer to? Click on the loan and scroll down to "active loans to the same borrower".
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upperdeane
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Post by upperdeane on Dec 9, 2019 22:46:14 GMT
Interesting. I'm fairly new to the platform... A few weeks. How do I identify if I'm in the other newer loans to the same borrower you refer to? Click on the loan and scroll down to "active loans to the same borrower". But I'm not in that particular loan myself (2DFDC5F12) so I dont have the option to do that do I? I can't find that loan as the URLs don't match the loan ID. Is there a way to look at loans I'm not in myself?
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alanh
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Post by alanh on Dec 9, 2019 23:37:38 GMT
This is due to the new settings. I can't remember exactly but most of my lending settings were reset to zero at the end of last week. Judging from what I have received today I would guess that most lenders have not looked at the new settings and adjusted them yet and are therefore getting zero allocations on loans at the moment. I would think it may take a little while for this situation to rectify itself but in the meantime am enjoying getting a decent amount of money invested at the new higher interest rates.
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