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Post by davids on Jan 20, 2019 11:08:24 GMT
2DFDC500B (Renewed Standard Loan (Provision Trust)) due 9th Nov now has an update to be sold at auction in March/April
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picnicman
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Post by picnicman on Jan 20, 2019 11:32:40 GMT
2DFDC500B (Renewed Standard Loan (Provision Trust)) due 9th Nov now has an update to be sold at auction in March/April davids - not in this one, but have seven other loans which are in the same category. Looking at the asset, they are the types of asset that require a properly controlled auction. The timing delay is that they are not every week and UB have to think about the best time/date to get the best price - if an auction in two weeks has lots of similar assets for sale, then probably best not to put in that auction and wait for the next one - just surmising/guessing though!! +side -All seven of mine are protected and so I will not lose any capital. -side might not get any/all interest (but been ok on every other loan so far - may be just very lucky). I think what concerns me more and probably ozboy is the growing number of loans that are having sales to recover funds - as long as they are protected, then should be ok as long as UB's pot for shortfalls lasts, although there is a risk to interest. Problems for investors will arise when non protected loans default - none to date - but this will test the valuations as raised by ozboy in December. Sorry for the waffle - just my thoughts/opinions for what they are worth. Cheers P
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Post by davids on Jan 21, 2019 7:38:11 GMT
I've only been on UB for approximately 12 months and drip fed small amounts in each month. To add my two pence to everything, I've had 35 repayments to date, 8 of which were overdue, 18 early and 9 on time, currently have 47 loans, of which 4 are overdue. I only have a very very small amount, mainly interest, in unprotected loans.
The thing that concerns me, probably being a bit of a newbie to the platform is the overdue loans are 3.5x my actual 'paid' interest and almost 2x my interest accrued and paid. But as long as the provision fund does its job and no capital is lost I'm okay for now
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sd2
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Post by sd2 on Jan 31, 2019 11:12:26 GMT
First default also first loan! Started lending July 27th. Decided I didn't like the bespoke loans so changed it to £5 the others are set at £30. Its a bespoke loan to the Mayfair watch dealer £21.12. Assuming the 2 watches that unbolted still have, are sold at 75% + of there loan to value I'm okay. I will stick with £5 at most for bespoke I have changed it to zero a few times. No problem with bespoke auction loans just not happy with business loans. Sooo many watches on unbolted I often wonder how much they would fetch in distressed (recession) market? Or to be more precise would defaults increase in a recession? I also wonder if people pawn more goods in a recession. Its certainly a good way to get money quickly and I suspect with no intentions of paying it back. Up to now I have only loaned out £2200 and 6 months into lending but I am still increasing my loan total but suspect that's going to be near my maximum unless the supply/demand situation changes.
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picnicman
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Post by picnicman on Jan 31, 2019 13:24:36 GMT
First default also first loan! Started lending July 27th. Decided I didn't like the bespoke loans so changed it to £5 the others are set at £30. Its a bespoke loan to the Mayfair watch dealer £21.12. Assuming the 2 watches that unbolted still have, are sold at 75% + of there loan to value I'm okay. I will stick with £5 at most for bespoke I have changed it to zero a few times. No problem with bespoke auction loans just not happy with business loans. Sooo many watches on unbolted I often wonder how much they would fetch in distressed (recession) market? Or to be more precise would defaults increase in a recession? I also wonder if people pawn more goods in a recession. Its certainly a good way to get money quickly and I suspect with no intentions of paying it back. Up to now I have only loaned out £2200 and 6 months into lending but I am still increasing my loan total but suspect that's going to be near my maximum unless the supply/demand situation changes. sd2 - what are you classifying as default (I think you are saying it is overdue) - I have 3 similar loans which are overdue by less than a week. That does mean that it is defaulted, it just means that the loan has not yet repaid (lots of loans overdue on different platforms does not mean they are defaulted). I have about 14-15% of my loans overdue on UB. My definition of a default on UB is when the asset goes for sale (about half of my overdue loans). If they are protected, then you may lose some/all interest, but your capital is 'safe'. It is only where the loan is not protected (as the one you are referring to seems to be) that you are in danger. There have not been any losses so far on unprotected loans that I have spotted (happy to be corrected), but that is no guide to the future obviously. The three loans I refer to are only just overdue and are hopefully to be sorted soon if other past loans are anything to go by. The other comfort is that UB has (I hope) control of the assets, but as you point out, lots of watches all at once may be problematical. You can of course opt to not invest in such non protected loans, unless you really like the look of them, when they are put up for sale, which is the strategy I use (NOT ADVICE). All P2P is risky and your anticipated returns should expect losses. The above is just my opinion. Hope this helps a bit? Cheers P
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Post by df on Feb 1, 2019 14:20:55 GMT
First default also first loan! Started lending July 27th. Decided I didn't like the bespoke loans so changed it to £5 the others are set at £30. Its a bespoke loan to the Mayfair watch dealer £21.12. Assuming the 2 watches that unbolted still have, are sold at 75% + of there loan to value I'm okay. I will stick with £5 at most for bespoke I have changed it to zero a few times. No problem with bespoke auction loans just not happy with business loans. Sooo many watches on unbolted I often wonder how much they would fetch in distressed (recession) market? Or to be more precise would defaults increase in a recession? I also wonder if people pawn more goods in a recession. Its certainly a good way to get money quickly and I suspect with no intentions of paying it back. Up to now I have only loaned out £2200 and 6 months into lending but I am still increasing my loan total but suspect that's going to be near my maximum unless the supply/demand situation changes. sd2 - what are you classifying as default (I think you are saying it is overdue) - I have 3 similar loans which are overdue by less than a week. That does mean that it is defaulted, it just means that the loan has not yet repaid (lots of loans overdue on different platforms does not mean they are defaulted). I have about 14-15% of my loans overdue on UB. My definition of a default on UB is when the asset goes for sale (about half of my overdue loans). If they are protected, then you may lose some/all interest, but your capital is 'safe'. It is only where the loan is not protected (as the one you are referring to seems to be) that you are in danger. There have not been any losses so far on unprotected loans that I have spotted (happy to be corrected), but that is no guide to the future obviously. The three loans I refer to are only just overdue and are hopefully to be sorted soon if other past loans are anything to go by. The other comfort is that UB has (I hope) control of the assets, but as you point out, lots of watches all at once may be problematical. You can of course opt to not invest in such non protected loans, unless you really like the look of them, when they are put up for sale, which is the strategy I use (NOT ADVICE). All P2P is risky and your anticipated returns should expect losses. The above is just my opinion. Hope this helps a bit? Cheers P re unprotected loans. It could also be worth looking at active loans to the same borrower and see if you are already lending to them. Most of bespoke are multiple loans.
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sd2
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Post by sd2 on Feb 3, 2019 10:17:23 GMT
I am not that worried about the loan in the sense I would get nothing back. He has not failed to pay off loans (lots of them). I was a little worried about the last two watches he had left one was quite expensive and I am always wondering what will happen price wise to all these ludicrous priced watches (my opinion). Either way "31 Jan 2019: Will pay for renewal today or tomorrow / LH" so no worries. Asked unbolted if that latter means a new loan or a continuation of the present loan. Waiting for answer. PS I like "my perception" of the risk reward on unbolted compared to say kuflink.
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sd2
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Post by sd2 on Feb 3, 2019 10:19:19 GMT
Anyway late loans pay more interest!
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sd2
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Post by sd2 on Feb 7, 2019 23:48:07 GMT
I am not happy about this, I have 5 overdue loans but not one shows the loan number? Surely I should be able to look at the loan? Without the loan number how can I ?
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archie
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Post by archie on Feb 8, 2019 5:47:45 GMT
I am not happy about this, I have 5 overdue loans but not one shows the loan number? Surely I should be able to look at the loan? Without the loan number how can I ? Where are you looking? They do show the loan number. Login and click on 'Overdue loans'.
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sd2
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Post by sd2 on Feb 8, 2019 9:51:04 GMT
I am not happy about this, I have 5 overdue loans but not one shows the loan number? Surely I should be able to look at the loan? Without the loan number how can I ? Where are you looking? They do show the loan number. Login and click on 'Overdue loans'. Just did no loan numbers there?
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spareapennyor2
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Post by spareapennyor2 on Feb 8, 2019 10:06:33 GMT
sd2if you can`t see it try a different browser? loan number left hand side under Loan Reference
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picnicman
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Post by picnicman on Feb 8, 2019 10:07:44 GMT
Where are you looking? They do show the loan number. Login and click on 'Overdue loans'. Just did no loan numbers there? sd2 - as archie says - just tried mine and working normally - loan ref is first column on left and each loan is numbered in green and if you click on it, the whole loan detail is shown. If yours is not working e mail support@unbolted. Hope this helps - Cheers P
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sd2
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Post by sd2 on Feb 8, 2019 19:58:06 GMT
Must be my tablet, will try something else thanks
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spareapennyor2
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Post by spareapennyor2 on Feb 9, 2019 12:52:17 GMT
sd2if you can`t see it try a different browser? loan number left hand side under Loan Reference View Attachment sd2Try opera browser if you see only start date on left side / use the back arrow bottom of page will show loan reference column. Just checked it on my mobile ok Didn't work on Google chrome
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