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Post by ashwinp on Jul 29, 2015 12:33:43 GMT
Hi This is Ashwin Parameswaran, the founder of Unbolted. We have had a significant increase in loan volume over the last couple of months and there are currently two loans on sale on our platform for approximately £10,000 (collateralised by antiques and jewellery respectively). We also expect more than £100,000 in new loans over the next month. Just to highlight, our loans pay 0.85% per month net to the lenders (we charge no fees to lenders). Loans made against gold and silver are protected by our Gold Trust within which we purchase put options to protect against a fall in the price in gold and silver. Your principal on other loans are protected by a Provision Trust into which we transfer 1% of the notional of every loan originated on our platform. You can either purchase the loans on your own or provide us with Autolend instructions to allocate your funds to every loan we originate (subject to constraints such as maximum amount per loan and maximum proportion of each loan chosen by you). For more details please visit us at unbolted.com/uk/how-lending-works/ - you can also email me personally at ashwin@unbolted.com if you have any queries on our operations.
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n
Member of DD Central
Yet another Nick
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Post by n on Oct 28, 2016 10:24:11 GMT
I logged in after getting an email to say I had lent something, and there was a tiny loan there which hadn't been auto-lent. I had a bite. There is still £110.50 available at 11:23
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nush
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Post by nush on Oct 28, 2016 18:45:18 GMT
its gone now though, just 1 loan available and i have as much of that as i want, im new to unbolted and i like it but think getting invested to the level that i would like to is going to take some time.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Dec 15, 2016 15:22:09 GMT
In case anyone's interested, there are three small loans available to buy at the moment.Having spoken to Unbolted, loans under £500 are not purchased via Autolend so it's total pot luck if you happen to spot them; they are considering emails but in the meantime, this thread could be a way of alerting colleagues.
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Post by dan1 on Feb 9, 2017 16:47:17 GMT
£464.70 available now on...
A diamond single stone ring, set in platinum and stamped Tiffany and co
A diamond half hoop eternity ring, stamped Tiffany and co 70% LTV 0.85% monthly interest
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n
Member of DD Central
Yet another Nick
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Post by n on Feb 9, 2017 16:52:58 GMT
£464.70 available now on... A diamond single stone ring, set in platinum and stamped Tiffany and co A diamond half hoop eternity ring, stamped Tiffany and co 70% LTV 0.85% monthly interest Thanks for the heads up - I left a little bit for someone else.
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Post by dan1 on Feb 9, 2017 16:53:52 GMT
£258.28 still left!
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Post by dan1 on Feb 11, 2017 13:35:52 GMT
If anyone is interested...
2DFDC2DE7 (Business Loan):
Aston Martin Vantage V8 coupe, 2006, 32000 miles
LTV 69%, 0.7% monthly interest
£111.86 remaining
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Post by dan1 on Mar 1, 2017 17:28:17 GMT
An omega Seamaster - £469.40 remaining
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littonowl
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Post by littonowl on Mar 1, 2017 19:37:19 GMT
Thanks for letting us know, Dan, I used what spare cash I'd got to take a little.
Do you or anyone else know the current status of auto bid allocations?
I only started with unbolted this year, with a small 'test' deposit, but am loathed to add more if I can't get any more than £5 per loan on autobid, as it'll take forever to build a decent sized port. It seems that loans like the ones you've identified only come along very rarely and are down to pot luck if you get any? It's a shame cos I do like the diversification the platform offers.
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n
Member of DD Central
Yet another Nick
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Post by n on Mar 1, 2017 21:36:40 GMT
Thanks for letting us know, Dan, I used what spare cash I'd got to take a little. Do you or anyone else know the current status of auto bid allocations? I only started with unbolted this year, with a small 'test' deposit, but am loathed to add more if I can't get any more than £5 per loan on autobid, as it'll take forever to build a decent sized port. It seems that loans like the ones you've identified only come along very rarely and are down to pot luck if you get any? It's a shame cos I do like the diversification the platform offers. I believe loans under £500 are put up for sale without autobid. As far as I know they are few and far between, but then I don't constantly monitor so maybe I just miss loads? Been building for just under 9 months. I have autobid set for £200 and keep my balance topped up to about £300. I now have about £8000 invested, and climbing. New loans seem to be like sardines. They come in shoals. There might be 5 or 6 in a day, then maybe none for a week. As far as I know the allocation algorithm is pretty much a black box, maybe deliberately to spoil any chance of gaming. I really like this platform - no hassle, no competetive aggrevation, no bots. Hope this helps.
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Post by dan1 on Mar 1, 2017 21:53:16 GMT
My Auto-Lend is set to £25 for all loan types. From my auto-lend loans allocated more than the minimum £5 then I calculate that there's approximately £43k of auto-lend for 0.65% & 0.85% loans and £35k for 0.85% loans. Therefore, an individual loan of below ~£10k will get the default £5 allocation. Book loan apart, the loans not on auto-lend are those below £500 (as I understand). Yes, it takes time to get invested. Not much that you can do apart from up your auto-lend to pick up larger portions of the bigger loans but a) you have to hold a bigger cash balance and b) you may get more than you want. I prefer to take the lower risk/reward option of opting in to the lower rate 0.65% loans. On the plus side, it is pretty much a hands-off platform apart from the occasional top-up.
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ben
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Post by ben on Mar 1, 2017 22:07:03 GMT
I keep my balance at about £1000 and top it up every so often, some loans will only get about £5 but in the bigger loans will get more. I would guess I lend out about £1000 a month if i am lucky so takes time to build up. Although they occasionaly issue a fairly big loan which is quite easy to sink a decent amount into. Currently a loan up that you can have as much as you want of.
For pawn it is my favourite site, no losses yet and when they sell the items at auction it has always covered the interest and loan amount so the valuations must be pretty good.
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littonowl
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Post by littonowl on Mar 1, 2017 22:54:48 GMT
Thanks very much for your replies, guys, very useful. I like it for its pawn too, especially as Coll seems to be moving away from this niche. The added bonus here is the provision/trusts. I'd also heard that they were pretty adept at recovering funds of any defaulted items via auctions, so their valuations must be on point. One of my concerns was whether or not their business is actually sustainable, on such low value loans, but as others have said, they do have a decent deal flow, and I read in their last newsletter they're also considering expanding into cars. Think I'll add some more funds, set my autobid and learn to be patient!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 2, 2017 0:51:11 GMT
Thanks very much for your replies, guys, very useful. I like it for its pawn too, especially as Coll seems to be moving away from this niche. The added bonus here is the provision/trusts. I'd also heard that they were pretty adept at recovering funds of any defaulted items via auctions, so their valuations must be on point. One of my concerns was whether or not their business is actually sustainable, on such low value loans, but as others have said, they do have a decent deal flow, and I read in their last newsletter they're also considering expanding into cars. Think I'll add some more funds, set my autobid and learn to be patient! Cars! what is it with cars at the moment? Zopa are talking about moving into secured lending on cars. Meanwhile, financial commentators are regularly suggesting that dodgy car loans are the next source of financial crisis.
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