Kyrios
Member of DD Central
Posts: 90
Likes: 135
|
Post by Kyrios on May 16, 2018 12:39:18 GMT
Now : 0.50% pm on loans protected by the Gold trust (vs 0.65%) 0.70% pm on loans protected by the Provision trust (vs 0.85%) 0.70 on Bespoke sale advanced loans (vs 0.75-0.80%)
The absence of competition on the bling is an issue...
|
|
stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
|
Post by stub8535 on May 16, 2018 12:41:57 GMT
Now : 0.50% pm on loans protected by the Gold trust (vs 0.65%) 0.70% pm on loans protected by the Provision trust (vs 0.85%) 0.70 on Bespoke sale advanced loans (vs 0.75-0.80%) The absence of competition on the bling is an issue... Did you notice the date error that the new rates apply from? They are amending the email to a future date.
|
|
Kyrios
Member of DD Central
Posts: 90
Likes: 135
|
Post by Kyrios on May 16, 2018 12:44:10 GMT
Yes, I noticed indeed. I think that has to be a mistake...
|
|
amwinv
Member of DD Central
Posts: 198
Likes: 282
|
Rate drop
May 16, 2018 12:44:57 GMT
via mobile
Post by amwinv on May 16, 2018 12:44:57 GMT
That's upsettingly low.
Glad I got some good chunks of the pawnbroker bling on moneything for 12%.
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Rate drop
May 16, 2018 12:45:03 GMT
via mobile
Post by stokeloans on May 16, 2018 12:45:03 GMT
Date amended to 18th may.
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on May 16, 2018 12:45:58 GMT
That's upsettingly low. Glad I got some good chunks of the pawnbroker bling on moneything for 12%. You're not wrong. Unbolted has become my favourite platform....until this !
|
|
invester
P2P Blogger
Posts: 612
Likes: 618
|
Post by invester on May 16, 2018 12:46:26 GMT
Damn, that's a fair old chop.
Bet the rates paid by borrowers isn't going down by an equal amount either...
|
|
marka
Member of DD Central
Posts: 224
Likes: 175
|
Post by marka on May 16, 2018 12:51:41 GMT
Very disappointing - especially when the email arrives just an hour or two after from from Assetz informing of a rate rise!
However, if I look hard enough I can find a silver lining to this. My unbolted investments were on the verge of going over my nominal "platform limit", so this will make the decision not to add any more new funds here easier.
|
|
Kyrios
Member of DD Central
Posts: 90
Likes: 135
|
Post by Kyrios on May 16, 2018 12:53:19 GMT
Damn, that's a fair old chop. Bet the rates paid by borrowers isn't going down by an equal amount either... Yep They typically charge 20%-60% APR to clients. And they justify the rate drop by the actual small level of losses. So for them, it's a marginal gain, but for us, it is a significant cut.
|
|
sarahcount
Member of DD Central
Posts: 359
Likes: 815
|
Post by sarahcount on May 16, 2018 12:54:01 GMT
This will teach us to sing their praises.
Funnily enough Lendy haven't reduced their rates for some time and on some loans have been putting them up.
Can't think why.
|
|
|
Post by jakebullet on May 16, 2018 12:54:24 GMT
If / when they get it spectacularly wrong and we lose money will they be putting the rates up? I don't think so!
Suppose you can't blame them for taking easy profits as long as they can still fill the loans.
|
|
amwinv
Member of DD Central
Posts: 198
Likes: 282
|
Post by amwinv on May 16, 2018 12:57:43 GMT
unbolted.com/uk/interestrates/Currently they charge lenders about 2-4% a month (plus hundreds of pounds in platform setup fees) And they now give us 0.5% of that for funding their business and taking all the risk of losing money? Cool..... Thanks unbolted. Very generous.
|
|
IFISAcava
Member of DD Central
Posts: 3,661
Likes: 2,984
|
Post by IFISAcava on May 16, 2018 13:05:01 GMT
So now not adding to my decent 5 figure sum here unless and until they offer an ISA.
|
|
|
Post by df on May 16, 2018 13:10:19 GMT
Didn't put me off. Still very good rates for the risk involved.
|
|
amwinv
Member of DD Central
Posts: 198
Likes: 282
|
Post by amwinv on May 16, 2018 13:13:24 GMT
Didn't put me off. Still a very good rates for the risk involved. While part of me agrees with you, it's exactly that sentiment being continually vocalized on this board which has led them to realise they can squeeze extra money out of us. I can't say I'm happy with this.
|
|