Ukmikk
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Post by Ukmikk on Nov 23, 2022 11:18:25 GMT
are institutional funds still willing to fund some of these high risk loans for what seems a low return?
The loans still seem to be funding without too much problem. Not with my money. I'm still waiting for a loan which is nearly 8 weeks overdue to have an update which even recognises that fact. If lenders don't see that as a distant warning bell then good luck.
Same here, I'm no longer investing into new loans and will be taking my funds elsewhere as the (usually late) repayments trickle in. I've lost faith in CP. I've noticed that loans are taking longer to fill so maybe retail investors are pulling out, but I don't think that's of any concern to CP now.
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Ukmikk
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Post by Ukmikk on Oct 5, 2022 17:39:54 GMT
It seems the additional marketing we funded by reduced interest rates isn't working.
Have you even seen any additional marketing because I haven't !
Quite.
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Ukmikk
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Post by Ukmikk on Oct 5, 2022 14:51:39 GMT
It seems the additional marketing we funded by reduced interest rates isn't working.
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Ukmikk
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Post by Ukmikk on Jun 1, 2022 12:48:53 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation. So here is the full extent of the response from CP, which in my opinion is verging on contemptuous; Many thanks for getting in touch. Retained interest will be paid out monthly. Kind regards,
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Ukmikk
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Post by Ukmikk on May 31, 2022 9:14:01 GMT
Also, I wonder when CP are going to realise that interest rates are rising.
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Ukmikk
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Post by Ukmikk on May 31, 2022 9:00:55 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation. In the description for tomorrow's first loan it says "Interest is to be retained on these funds and repaid to lenders monthly at a rate of 7.8% per annum equivalent". Has this changed since you last read it? Yes I think so. Both today's loans appear to have been updated. I haven't received a reply to my query yet but hopefully will at some point. I'll be keeping a close eye on this going forward.
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Ukmikk
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Post by Ukmikk on May 30, 2022 14:06:54 GMT
At first glance this policy appears to be completely unacceptable. I have emailed CP for an explanation.
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Ukmikk
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General EUR P2x Discussion
Russian loans
Mar 1, 2022 16:29:40 GMT
via mobile
Post by Ukmikk on Mar 1, 2022 16:29:40 GMT
I only have loans on Peerberry. If I interpreted correctly, when they announced they were suspending Russian and Ukrainian loans they suggested the lenders had enough liquidity to pay back those loans already issued ie. would honour the buy-back guarantees. Am I mistaken?
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Ukmikk
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Post by Ukmikk on Feb 16, 2022 15:20:14 GMT
Multiple loans to the same borrower are a great idea until it isn't. Unbolted have personal experience of that not to mention the lenders waiting for their capital and hopefully interest back. Fundingsecure were a prime example but they endemically concealed it. Ablrate is another. There are a number of scenarios that can 'crop up' where the train comes off the rails, unexpected debt or bankruptcy, fraud, ponzi borrower, legal loophole borrower, death. My advice is stick to your per loan limit per borrower.
Whilst I completely agree with your advice on most platforms, I think unbolted is in a slightly different situation. First, you can't select your loans the vast majority of the time. The autoloan allocates parts and you have to take what you are given. However, a key difference between UB and the other platforms is that the collateral is held by the platform and not by the borrower. It makes it far easier for it to be sold if the worst happens and UB have an excellent track record in reclaiming debt. Additionally, they charge quite high fees that, in the event of a default, go back into the pot to pay lenders back. overthehill Advice much appreciated thank you. Having given this some thought I do think the key factors with UB are asset valuation and possession as tallsuk says, so does it matter if lending on a single large valuation or a number of smaller ones providing the valuations are realistic? Limits on standard or gold loans do not limit loans to the same borrower.
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Ukmikk
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Post by Ukmikk on Feb 15, 2022 21:38:35 GMT
Do you know if most of this got swallowed up by business loans? Or was it much more going into standard and gold loans? Hi Ukmikk, good question. Most of that investment (about 75%) was swallowed up by just two lots. The first (Feb 9th) was the Audemars Piguet Royal Oak Openworked Rosegold Skeleton, which looks really cool when I googled it. And the other lot (Feb 11th) was "a collection of 24 antique books, manuscripts, works on paper and etchings". You'll note, I run with very high investing limits, so occasionally I end up with rather large chunks of very valuable items. A couple of years ago I had about eight grand in a red 1955 Bentley Continental, probably the value of its part-worn spare tyre. However, in over three years with UB I've never lost a penny on anything, and I'm earning about 8.8% with low LTVs for my trouble. I wonder if UB might pick up some of Connective Lending's slack. Thanks for your reply. I've tended to shy away from having too much in a single loan so kept limits down. However I have a lot of faith in UB after a few years trouble free lending, so maybe it's time to be a little less cautious if I want to get my additional capital lent out. Limits raised, let's see how that goes. Cheers for your input.
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Ukmikk
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Post by Ukmikk on Feb 14, 2022 19:26:52 GMT
I seem to be on a roll with UB. In January I noticed a marked reduction in my cash drag as I increased my balance and limits, so on Feb 4th I put in an extra £5k into my two accounts. 1 week later, and £4.5k extra has been lent out. An outstanding result, so I'm topping up again. (NB: my limits are £3-4k in both accounts) Do you know if most of this got swallowed up by business loans? Or was it much more going into standard and gold loans?
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Ukmikk
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Post by Ukmikk on Feb 14, 2022 19:24:53 GMT
Are you sure? As far as I know 'cash balance' doesn't differentiate between the returns and deposits. I haven't seen any evidence that new money gets priority. It may seem like that when a new account is funded as it won't be troubled by repayments for the first 6 months. OK happy to be corrected, it was a vague recollection which may not have any basis.
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Ukmikk
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Post by Ukmikk on Feb 13, 2022 11:24:34 GMT
I seem to be on a roll with UB. In January I noticed a marked reduction in my cash drag as I increased my balance and limits, so on Feb 4th I put in an extra £5k into my two accounts. 1 week later, and £4.5k extra has been lent out. An outstanding result, so I'm topping up again. (NB: my limits are £3-4k in both accounts) Hmmm, I've had 3-4k uninvested for a long time and nothing seems to shift it. Did we not establish ages ago that new money gets priority over reinvested money? To be fair my limits are all around the £1k mark which I thought was pretty high so maybe I need to go higher.
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Ukmikk
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Post by Ukmikk on Jan 19, 2022 10:51:49 GMT
It's another CP fiasco, seems to be a regular occurrence. Getting tiresome now and I'm questioning my involvement with such an amateurish outfit.
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Ukmikk
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Post by Ukmikk on Jan 11, 2022 10:57:26 GMT
I use a Starling Euro account for the same reasons.
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