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Post by df on Nov 14, 2019 22:49:03 GMT
So 2DFDC5E3DA - a diamond ring against which over £1500 was loaned - apparently sold at auction for £0.01, so that the trust stepped in to protect capital (and no interest paid). Not sure how that can be - did something else happen here? I don't have 2DFDC5E3D in my loan book, may be someone else can provide some information about what been said on the overdue page. unbolted.com/uk/lenders/overdue-loans/Was it sold at auction? or the Trust paid out to cover the principal without an auction? I have no idea. Whatever happened, somebody must have donated 1p I'm not sure if one can have a £0.01 reserve price at auctions - very little profit for auctioneer.
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thedog
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Post by thedog on Nov 16, 2019 16:17:17 GMT
I don't have 2DFDC5E3D in my loan book, may be someone else can provide some information about what been said on the overdue page. unbolted.com/uk/lenders/overdue-loans/Was it sold at auction? or the Trust paid out to cover the principal without an auction? I have no idea. Whatever happened, somebody must have donated 1p I'm not sure if one can have a £0.01 reserve price at auctions - very little profit for auctioneer. If anyone with a position in this (I don't have one) gets an answer be interesting to know.
My pure guess - failed to reach reserve at auction, UB took view that simpler to have PF step in now rather than wait, did so and when item is ultimately relisted at auction and sold proceeds will go to PF (with surplus should there be any back to borrower). Not even a a plastic ring for a Chrimbo cracker sells at auction for 1p....
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sd2
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Post by sd2 on Dec 9, 2019 21:35:13 GMT
2DFDC5267 loan defaulted. This is the big (initially) loan on pledged wines. £43 repaid still owed £9. Interest 0.90% and 9% ltv. No rush unbolted I can live with this default with 0.90% on a 9% ltv....how about forborne..again! Note Monthly Lender Interest Rate (net of expected loss**) 0.85% I am not sure if knocking 0.05% of all loans for expected losses is all that accurate!
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