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Post by scrumper on Feb 2, 2023 10:22:51 GMT
I thought UB have (so far) covered the cost of repaying the principle in the event of a shortfall. Some of the repayment shows as interest but the total repayments equal the principle on the last example in my case.
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Post by Ace on Feb 2, 2023 10:32:17 GMT
And another one. Loan 6225, auction proceeds 4675. And again the money handed to investors has a proportion allocated to interest despite the shortfall in capital returned. redpete (or Ace ) could you give me some example loan ref numbers of this phenomenon please. 2DFDCA86A
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Post by Ace on Feb 2, 2023 22:56:52 GMT
You can see the monthly losses on your tax statement, including for you ISA account. The Jan 2023 entry is now available.
This is the first month where I've suffered a loss since opening my accounts in March 2018, except for a 3p loss in April 2022. To put this in perspective, total losses so far for me represent about 0.1% of total profits to date, or about 0.02% of currently outstanding capital.
Total losses across the combined accounts have reduced my annualised returns (XIRR) from 9.14% to 9.13%. I'm OK with that.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Feb 3, 2023 11:35:54 GMT
redpete (or Ace ) could you give me some example loan ref numbers of this phenomenon please. 2DFDCA86A I've had a response from Chris at unbolted: "I have spotted a small operational error on the way that payment was applied. A small balancing transaction has now been added showing as 'loan fees'" Mmm......what do make of that?
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Post by Ace on Feb 3, 2023 11:50:53 GMT
I've had a response from Chris at unbolted: "I have spotted a small operational error on the way that payment was applied. A small balancing transaction has now been added showing as 'loan fees'" Mmm......what do make of that? Not sure. It's now showing as a loss of interest but no capital loss after a contribution from Unbolted. There's still a loss showing in the Jan tax statement. But this payment is showing as 1st Feb. Same thing on 2DFDCA3ED, but that payment is showing as 20th Jan on the loan details.
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elsee
Member of DD Central
Retired:D
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Post by elsee on Feb 3, 2023 12:08:57 GMT
I've had a response from Chris at unbolted: "I have spotted a small operational error on the way that payment was applied. A small balancing transaction has now been added showing as 'loan fees'" Mmm......what do make of that? Not sure. It's now showing as a loss of interest but no capital loss after a contribution from Unbolted. There's still a loss showing in the Jan tax statement. But this payment is showing as 1st Feb. Same thing on 2DFDCA3AD, but that payment is showing as 20th Jan on the loan details. I had a loss of .90 in January with a fee payment of .90 today, probably as a result of your email.
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Post by df on Feb 3, 2023 13:50:42 GMT
You can see the monthly losses on your tax statement, including for you ISA account. The Jan 2023 entry is now available. This is the first month where I've suffered a loss since opening my accounts in March 2018, except for a 3p loss in April 2022. To put this in perspective, total losses so far for me represent about 0.1% of total profits to date, or about 0.02% of currently outstanding capital. Total losses across the combined accounts have reduced my annualised returns (XIRR) from 9.14% to 9.13%. I'm OK with that. The same for me - 4p loss in April 2022 and £1.35 in January. I'm fine with that too. Not sure what "other income" is. I do receive occasional bank interest payments (usually between 1 and 3 pence), but I can see some larger "other income" on that list (one of them is £1.27), these can't be bank interest.
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Post by redpete on Feb 3, 2023 19:51:10 GMT
I got a similar reply from Chris Brown, a balancing transaction has been to applied to two loans as 'loan fees'. 2DFDCA86A & 2DFDCA3ED. Both now showing as paid in full but no interest.
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Post by Ace on Feb 3, 2023 20:10:46 GMT
Two of my three loans that were sold at auction and repaid today are showing interest losses but no capital loss.
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ganymede
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Post by ganymede on Feb 3, 2023 21:32:29 GMT
Two of my three loans that were sold at auction and repaid today are showing interest losses but no capital loss. I saw that also. not concerned, other loans repaid, it's not like every loans is defaulting just some. Not much can be done about existing loans, it the new loans, renewed loans where the valuations need to be adjusted to match current conditions.
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trium
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Post by trium on Feb 17, 2023 15:52:34 GMT
Forgive the resurrection I've just come back from holiday.
So my transactions shows two amounts of "loan fees". Intuitively that sounds like something I pay, but the amounts are positive and applied to neither capital nor interest. Have I received this money and does it represent (partial) loan repayments?
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Post by Ace on Feb 17, 2023 16:13:57 GMT
Forgive the resurrection I've just come back from holiday. So my transactions shows two amounts of "loan fees". Intuitively that sounds like something I pay, but the amounts are positive and applied to neither capital nor interest. Have I received this money and does it represent (partial) loan repayments? Yes, we were paid the "Loan fees". A strange name, but, from memory, I think this was a payment from UB to us lenders to compensate us for what would otherwise have been a loss of capital. Hopefully, someone with a better and more definitive response will be along soon.
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Post by df on Feb 17, 2023 21:16:01 GMT
Forgive the resurrection I've just come back from holiday. So my transactions shows two amounts of "loan fees". Intuitively that sounds like something I pay, but the amounts are positive and applied to neither capital nor interest. Have I received this money and does it represent (partial) loan repayments? Yes, we were paid the "Loan fees". A strange name, but, from memory, I think this was a payment from UB to us lenders to compensate us for what would otherwise have been a loss of capital. Hopefully, someone with a better and more definitive response will be along soon. This sounds like some form of provision fund, but PF was officially scrapped few years ago.
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easynow
Member of DD Central
Popcorn anyone?
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Post by easynow on Feb 18, 2023 12:05:50 GMT
They have made up losses on three loans in the past month that I am aware of, £10, £1550, £1795. In the same period, investors have lost £6514.19 in interest due to poor valuations auction returns.
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Post by Penny Pincher on Feb 24, 2023 16:47:15 GMT
Another loan (2DFDCA04B) repayment from auction proceeds today where the capital and interest repayments combine to equal the initial capital. The loan description page describes an interest loss and no capital loss. This seems to contradicts the transactions on my account which suggest full interest payment and a capital repayment shortfall.
I don't mind which way the loss is described as long as there is consistency or a valid explanation.
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