ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 24, 2018 0:13:31 GMT
No Ukmikk, you are not understanding correctly. Read the postings, you get paid the standard interest rate as long as the Loan is outstanding. Pretty clear actually in the comments preceding, but we'll cut you some slack, because I too sometimes (often!) raise questionable questions.
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stub8535
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Post by stub8535 on Feb 24, 2018 7:32:20 GMT
No Ukmikk, you are not understanding correctly. Read the postings, you get paid the standard interest rate as long as the Loan is outstanding. Pretty clear actually in the comments preceding, but we'll cut you some slack, because I too sometimes (often!) raise questionable questions. I read the same as Ukmikk into your previous comment as well ozboy. Maybe its a cultural thing😁
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Post by davids on Feb 24, 2018 8:55:01 GMT
No Ukmikk, you are not understanding correctly. Read the postings, you get paid the standard interest rate as long as the Loan is outstanding. Pretty clear actually in the comments preceding, but we'll cut you some slack, because I too sometimes (often!) raise questionable questions. I read the same as Ukmikk into your previous comment as well ozboy . Maybe its a cultural thing😁 It is some what ambiguous, "no additional interest", to some means there's no interest added on beyond the supposed final date, which to be honest is what i read. Or the other meaning there's nothing adding on to the original interest/ month i.e 0.65% or 0.85%
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marka
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Post by marka on Feb 24, 2018 9:01:51 GMT
Have to agree, I read it the same way. If I wasn't already aware that normal interest continues I would have been confused.
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stub8535
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Post by stub8535 on Feb 24, 2018 9:34:39 GMT
Have to agree, I read it the same way. If I wasn't already aware that normal interest continues I would have been confused. ozboy made a vocabulary error. It's not critical in the whole sceme of things.😉 Established that standard interest continues to be charged when running late.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 24, 2018 10:32:21 GMT
My sincere apologies Ukmikk, and all. I can see now that it is indeed an ambiguous statement which can be understood either way. I copied and pasted the email sent to me.
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Ukmikk
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Post by Ukmikk on Feb 24, 2018 10:38:29 GMT
Apologies ozboy for misunderstanding, although it looks like I wasn't the only one . In any case I appreciate your help and I'm happy we are all now clear on the interest situation, power to the forum Edit: crossed with ozboy's kind apology above, graciously accepted.
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ozboy
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Post by ozboy on Feb 24, 2018 11:01:07 GMT
I am at fault, I should have spotted the ambiguity. My very weak defence is that UNB's answer was in context to my question (during an extension does UNB charge additional interest on top of standard) so the meaning was quite clear, but only to me!
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jonno
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nil satis nisi optimum
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Post by jonno on Feb 24, 2018 14:41:08 GMT
I am at fault, I should have spotted the ambiguity. My very weak defence is that UNB's answer was in context to my question (during an extension does UNB charge additional interest on top of standard) so the meaning was quite clear, but only to me!
I suspect that bit happens on more than the odd occasion
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Post by dan1 on Mar 1, 2018 13:00:38 GMT
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mikeymike
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Post by mikeymike on Mar 8, 2018 20:01:09 GMT
Yes but at least they sell them and make use of the protection fund. Auction prices are fickle and auction house fees can be huge! So far pleased!
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stub8535
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Post by stub8535 on Mar 8, 2018 20:17:08 GMT
Now over 50 loans in my portfolio overdue with about 1/6 th by value. Seems to be some lax excuses creeping in that we see elsewhere. I had a lumpy investment profile with overdue loan amounts due to me between £5 and £750
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jimc99
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Post by jimc99 on Mar 9, 2018 1:24:11 GMT
Now over 50 loans in my portfolio overdue with about 1/6 th by value. Seems to be some lax excuses creeping in that we see elsewhere. I had a lumpy investment profile with overdue loan amounts due to me between £5 and £750 Me too, but as 27 overdue loans are against bullion I am not worried. Unbolted is my favourite site, great recovery record. Never lost a penny. Long may they (and investors) prosper.
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stub8535
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Post by stub8535 on Mar 9, 2018 5:28:47 GMT
Now over 50 loans in my portfolio overdue with about 1/6 th by value. Seems to be some lax excuses creeping in that we see elsewhere. I had a lumpy investment profile with overdue loan amounts due to me between £5 and £750 Me too, but as 27 overdue loans are against bullion I am not worried. Unbolted is my favourite site, great recovery record. Never lost a penny. Long may they (and investors) prosper. Just flagging a concern jimc99 as ubl are, and have been for some time, my favourite platform as well. The excuses from borrowers and leeway being given are of concern. I understand that ubl are close to their borrowers and try to be fair. However, I was expecting cash to be available to refill last year's lexible ISA b4 the end of the tax year but a massive chunk is now held back. This means I have to borrow from other places to refill the isa b4 end of 5th April. I wonder if ubl would give me a 0% loan against the overdue orders for a few days? I think not. Or would they??? Keep going good ship ubl. Newer investors just take note. Lumpy investing is less of an issue now than during the 6 month cycle just finishing due to the introduction of the ballot for little loans happening. The increased demand has also had the impact of driving down allocations.
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dermot
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Post by dermot on Mar 13, 2018 12:23:43 GMT
Relative UB newbie here, it is now six months and a week since I started with UB, a number of loans have repaid partially/early and a couple at term this last week or so.
I currently have 9 overdue loans (from a day to a week overdue) that are all bling of one sort or another (a few hundred quid in total). Do most of these tend to be repaid / renewed after a bit of prodding, or do they tend to require further action?
I'm sure it is covered someplace that I haven't spotted, but does interest continue to accrue at the nominal rate for overdue loans (and is interest covered from the provision fund, or capital only)?
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