applets
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Post by applets on Feb 25, 2018 20:23:08 GMT
Not there now. Sometimes you have to be lucky with the timings and funds available 😀
Looking at the recent purchases, it appears you were beaten to it by the W*******P bot.
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applets
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Post by applets on Feb 23, 2018 9:32:04 GMT
Whilst trimming to a modest 3 fig sum (partly to prove I could still sell something on the SM - within the page refreshing in the middle of the night, thanks W...P!), hopefully, sub 60% ltv, in Coll's possession and with trade buyer lined up isn't too stern a test of their pawn model :/ . Yes, the W********P bot has been working overtime on this in the last couple of days. The F********R bot on the other hand seems to have been carefully avoiding it. However, the F********R bot has still been busy on bling loans overnight.
Clearly, Collateral still have no interest in / ability to control the bots.
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applets
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Post by applets on Feb 13, 2018 12:07:17 GMT
Whilst any payment from the PF is to be welcomed, the additional problem is when will a default actually be declared. I'm under the impression - hopefully incorrectly - that AC are professional can kickers when it comes to formally defaulting a loan. Does anyone genuinely believe there will be further recovery from loans 132 and 146 - just a couple of examples. AC IMO should formally default so we can all move on. In the unlikely event of there being further pennies recovered then these can be distributed as straightforward income and declared as such. Somewhere down the line some reality does need to be applied. No one knows how much money there is in the AC PF because AC won't tell us. I suspect it's probably not as much as we would like. The majority of lenders in the GBBA and GEIA who are sitting on defaulted/suspended (hair splitting in most cases) loans are now likely to want quick recompense from the PF of the principal amount lent, whether this recompense comes combined with interest repayments, or as a lump sum at the end of the term. This recompense will have to come from either the PF or from the sale of the held security. It's in AC's best interest to pay the invested capital on defaults back to lenders via the PF as soon as possible in order to maintain goodwill. This will act to focus the minds of AC on immediately declaring defaults and selling the security in order to replenish the PF. AC will no longer be able to keep kicking the can. Now, the only reasons for not introducing immediate repayments of capital from the PF will be either regulatory, or because the PF doesn't have enough moolah in it to cover AC's increasingly nasty amounts of bad debt.
You may or may not be right about the size of the PF being large enough to fund all defaults, but I don't think it is reasonable to expect the fund to pay out on suspended loans as soon as they are suspended (a suggestion I think that was made when the wind turbines were suspended to permit further investigation) or when the end of term is reached and a borrower fails to repay their loan. I agree that there should be a reasonable timescale for defaulting loans and period for recovery, but this will inevitably vary depending on the circumstances for each loan. It would be good for AC (and other platforms) to be clearer on the timescales for each loan once these become known.
It does strike me that for the PF to repay capital and now late interest does seem a great step forward in reducing (but not eliminating) the risk. However, as lenders we have to acknowledge and accept that we may not get our money back on time, if at all. That is the price of p2p lending.
I appreciate many lenders are unhappy with the continuing lack of diversification in AC accounts, but this has been well documented on this forum for a long while. It is also easily enough to check where your money is lent after it is deposited and, as others have said, there is an opportunity to withdraw reasonably swiftly if you don't like what you see (and in most cases before defaults arise).
The rules of engagement now seem reasonably well documented by AC and on this forum. It may be time for those who prefer the guaranteed interest/ instant availability of capital offered by most banks and building societies to look at withdrawing their remaining funds from AC.
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applets
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Post by applets on Feb 13, 2018 11:37:02 GMT
Well I am now even more baffled. I have spent hours discussing and complaining with AC that my return is nowhere near 7% - not slightly below 7%, but massively below 7%. Ben insisted twice that much of the shortfall below 7% was simply because of late payments. I have 5 figures invested in GBBA and GEA. I received the payments yesterday from the provision fund. £4.13 and £3.26 !! That represents about 0.01% of my holding! The PF payments yesterday come absolutely nowhere near making up the shortfall about which I have been complaining for some months. What on earth's going on here? I am not sure anyone on the forum will be able to answer your question. Perhaps an email or telephone call to AC might provide you with an answer?
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applets
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Post by applets on Feb 10, 2018 6:29:10 GMT
The threshold for £5 allocations now appears to have reached over £1900 as the number of new investors presumably continues to increase.
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applets
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Post by applets on Feb 10, 2018 6:18:00 GMT
Those using bots are presumably in breach of clause 9.8 of Col terms and conditions. The situation appears to have become worse in recent months and it is a pity that Col seem to have no interest/ ability to take action. This inaction does nothing to enhance the reputation of Col.
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applets
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Post by applets on Jan 12, 2018 22:19:15 GMT
..... and this from the platform voted by the members of this forum as the best in 2017.
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applets
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Post by applets on Jan 6, 2018 10:04:41 GMT
I wonder whether this is something UB are working on or is just the case that as UB gets more popular then investor balances will inevitably fall? I think it going to be the latter. I have noticed an on going % decrease of each loan from the autobid. So it would appear new lenders joining have out paced loans. Unfortunately, the demand for loans clearly exceeds supply at present. While new lenders may well be pleased with the allocations they are currently receiving, for longer term lenders I doubt this is the case. Further, without a roll over facility, existing lenders are faced with either receiving a smaller loan part at renewal than they had previously or, if the total loan is less than around £1500, no allocation whatsoever if they are unsuccessful in the "random" allocation.
Less than a year ago the threshold for auto allocation was around £1000. It is now around £1500. Presumably the threshold will increase further as new lenders join the platform and/ or the success rate for random allocations will fall further (I am currently at about 1 in 3 success).
Like others, I don't wish to see a move to property loans and the growing number of business loans is probably a reasonable way for Unbolted to grow their business. However, when I am currently moving towards an ever larger portfolio of sub £10 loan parts, the ability to lend £100s or £1000s on a small number of unprotected loan parts does not offer great diversification.
While it would be unpopular with some, I would like to see rollovers for existing lenders introduced and a halt to new joiners until the supply of loans increases.
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applets
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Post by applets on Jan 6, 2018 9:36:52 GMT
For the amount of interest to be gained, it really isn't worth the hassle of trying to buy renewals (or stress factor judging by the replies above). There will always be some lenders with familiar initials who are successful in achieving multiple loan parts at renewal, just as there are some lenders who appear to be disproportionately successful at securing bling on the SM. Sadly, I am not among them!
The bottom line is that bling is popular with lenders, but a shrinking part of the Collateral loan book - demand exceeds supply.
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applets
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Post by applets on Dec 5, 2017 7:16:37 GMT
Hi all, I can confirm that Bridging Loan - Shepperton will go live tomorrow (around lunch time). Regards, Filip Could we have a fixed launch time please?
I assume I am not alone in being unable to spend up to two hours sitting around in the middle of the day on the off chance a loan launches.
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applets
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Post by applets on Nov 29, 2017 10:38:58 GMT
Agree.
Now lucky if I hit a one in three chance of a £5 random allocation. The absence of roll over of renewals combined with the number of repayments means a growing cash balance.
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applets
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Post by applets on Nov 19, 2017 17:59:11 GMT
Not so good for those who go to work, however. All platforms launch during their work day*. Do you only invest on abl? * There have been the odd weekend launch again most typically during work hours... Some other platforms provide details of their loans before launch which provides an opportunity to have a look at the loan in a little more detail before lending. Until the last loan, ABL have failed to provide this opportunity and, in some cases, it has been a case of hit the purchase button without DD or miss out on the loan altogether. The last ABL loan did address this issue and by making go live at 8pm meant that, for me at least, there was some time after work to try and do a little DD before deciding whether to lend. I appreciate that 8pm did not suit everyone and it may well be that I am the only p2p investor who has an employer that would take a dim view of my spending an hour or two of my working day doing some research on a lender. I am happy to accept that others are in a more fortunate position with their work/ time commitments than me and withdraw gracefully.
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applets
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Post by applets on Nov 18, 2017 17:59:18 GMT
Not so good for those who go to work, however. Every other platform, which I have experience of, release their loans during working hours and I can't remember anyone complaining about it? Maybe most people have have smart phones or something similar whereby they can access the web wherever they are? Just a thought...... You may be right about smartphone ownership, but DD takes time. I am not sure how many employers are happy for their employees to spend their working hours doing DD. Unlike some other platforms, ABL appears to have reverted to its usual practice of not providing loan details until the loan goes live - this time at 2pm. Hopefully there will not be the "bid now - all gone within the hour" frenzy that has characterised some recent loans.
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applets
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Post by applets on Nov 18, 2017 5:50:46 GMT
2pm, much better when we are given reading time for a new borrower will it be a morning/afternoon split ie within the working day ablrate ? Will accommodate overseas investors and those that prefer to spend their time with families in the evening Not so good for those who go to work, however.
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applets
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Post by applets on Nov 4, 2017 9:33:33 GMT
Try as I might I can find no mention in COL's Terms or FAQ warning lenders who sell on the SM that their interest payments will be docked. Can anyone point me in the right direction, please ? When you put a loan part up for sale it reiterates what you are selling and how much and also says "Please note, once you confirm you are selling your loan part all interest on this part will stop. Once your loan parts have been purchased we will credit the balance to your account, however any available funding on the loan will take precedence over your selling loan parts until sold. Any unpaid interest accrued prior to sale will be credited at the end of the month as usual." You have to click the blue "sell loan part" button to implement it and put the loan part up for sale. Seems pretty clear to me Yes, but the OP's point was you can't find this out in the terms and conditions, FAQs before you lend. You only find out when you come to sell. Many other platforms are more up front about their fees and charges.
A similar situation arises that COL will now unilaterally extend loans without the lender having the chance to say they agree/ disagree or do not wish to continue in the loan (unless they sell on the SM). Who knew this when they first joined COL or purchased an individual loan part?
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