stevio
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Post by stevio on Oct 19, 2017 9:28:34 GMT
Given that the borrower has track record with ubl, the asset is well known and held securely and there is a personal guarantee that means something this one is excellent. I too went in large on the first loan. I hope it hangs around as it did before😊 then I can invest returning cash. 33% LTV, 9.6% interest, and the assets held by the platform works for me! Humour me, what is the asset?
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Nomad
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Post by Nomad on Oct 19, 2017 9:32:20 GMT
33% LTV, 9.6% interest, and the assets held by the platform works for me! Humour me, what is the asset? "A collection of 33 antique books, manuscripts, works on paper and etchings".
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Post by dan1 on Oct 19, 2017 9:39:50 GMT
Humour me, what is the asset? "A collection of 33 antique books, manuscripts, works on paper and etchings". I can PM a link to the valuation, should it be of use.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Oct 19, 2017 10:16:51 GMT
Thanks all for your comments. stub8535, why does this personal guarantee mean something, what's different about it? It's a genuine question, as my understanding is that they have very little value if push comes to shove. Sorry for not respinding sooner ukmikk only just got to the thread. The personal guarantee on loans for various asset classes are "worth" different levels of confidence normally. A personal guarantee on an asset physically held by lenders representative has more value than on a company loan as the borrower is likely to use the asset to keep a company going longer in the hope of better times in the last case rather than the first. We also have the evidence of the borrowers past behaviour in the previous loan. The asset that is held has a high probability that valuations can change significantly but the ltv is low in this case. Many collectors of written artefacts are active in markets which should support the price. The addition of the new condition yesterday will make the loan less attractive to some but I am encouraged by platform operations that this will be well managed. I will not be reducing my bid on this loan as I am happy with it. My opinion not a recommendation. A warning though, if you put a large multiple of your normal amount into any loan and it pays back only at term, rather than repaying during the course of the loan term, you will have the spike to get invested at the end of the loan leading to cash drag which concerns many that post.
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Ukmikk
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Post by Ukmikk on Oct 19, 2017 10:35:13 GMT
Thanks for your reply stub8535, agree with all your comments and had already considered the repayment spike. Not sure that you have convinced me that this personal guarantee has any more value than any other though, as it is a separate issue to the holding of the collateral, which is where the security lies irrespective.
I have increased my investment in this loan a little as a result of the responses here, thank you all, but still remain relatively cautious about overdoing it in a single loan. Good luck to all investors and borrowers alike :-).
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ben
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Post by ben on Oct 19, 2017 11:59:13 GMT
Thanks for your reply stub8535, agree with all your comments and had already considered the repayment spike. Not sure that you have convinced me that this personal guarantee has any more value than any other though, as it is a separate issue to the holding of the collateral, which is where the security lies irrespective. I have increased my investment in this loan a little as a result of the responses here, thank you all, but still remain relatively cautious about overdoing it in a single loan. Good luck to all investors and borrowers alike :-) Personally I usually ignore personal guarantees as they are pretty easy to get out of. I am not taking the personal guarantee into account on this investment either but with this kind of business reputation is everything. Unlike the building trade where people will happily carry on trading with the morally corrupt. So I think in this case the reputation is worth something to the borrower and if he is able to he will want to repay the loan. This is not an area that many people on here will probably know but we do know the assets have value to the borrower as he has previously repaid an similar loan. So we know he is not going to be laughing all the way to the bank like plenty of other borrowers do. The valuations are from a reputable company too.
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Post by keyboardworrier on Oct 19, 2017 13:28:24 GMT
Taking everything into account, I would be quite happy doubling my current investment pledge but I am going to wait until the loan fills up some more before transferring money due to the cash drag issue. I assume there is no investor deadline for this one?
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Post by dan1 on Oct 19, 2017 13:30:24 GMT
ashwinp - It may help to fill the larger loans, such as the antique book loan currently on sale, if you were to identify the borrower to named investors (i.e. not on a public forum). On that note, I assume you realise that the valuation PDF is accessible to all (i.e. doesn't require a user to be logged in to view)?
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ben
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Post by ben on Oct 19, 2017 13:42:48 GMT
Taking everything into account, I would be quite happy doubling my current investment pledge but I am going to wait until the loan fills up some more before transferring money due to the cash drag issue. I assume there is no investor deadline for this one? Last time they got underwriters in as it did not fill up, although this time it has filled up quicker then it did last time round.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Oct 19, 2017 13:49:43 GMT
Taking everything into account, I would be quite happy doubling my current investment pledge but I am going to wait until the loan fills up some more before transferring money due to the cash drag issue. I assume there is no investor deadline for this one? Last time they got underwriters in as it did not fill up, although this time it has filled up quicker then it did last time round. The loan is much less this time and the number of lenders has increased significantly. The levels of cash holdings on the lenders cash account has also increased significantly if allocation percentages are a guide.
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Post by beeje13 on Oct 20, 2017 9:46:55 GMT
Makes you wonder if Unbolted would have been in a position to offer this loan 3 months ago?
Built up the lenders first so they can then be sure of funding these large loans?
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Ukmikk
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Post by Ukmikk on Oct 20, 2017 9:54:09 GMT
It's not fully funded yet. And it should have gone out 2 days ago. You're right, it does make you wonder..
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registerme
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Post by registerme on Oct 20, 2017 14:18:26 GMT
86k of 252k still available on a loan that went up a few seconds ago.
I wonder was this the remainder of yesterday's big loan that didn't fill? Because I now have double my original investment.....
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Ukmikk
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Post by Ukmikk on Oct 20, 2017 14:24:02 GMT
86k of 252k still available on a loan that went up a few seconds ago.I wonder was this the remainder of yesterday's big loan that didn't fill? Because I now have double my original investment..... Yes, it's the same one.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Oct 20, 2017 14:41:58 GMT
It's unwanted lots that are up for sale according to platform message. Automatic allocation has not operated afaics.
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