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Post by df on Jun 17, 2019 20:13:53 GMT
Since about a week ago my auto-lending became very active. I'm getting much larger chunks than normal for my cash balance and auto-lend settings - I keep depositing more than once a day because my cash balance gets emptied within few hours. Some unusual allocations like £31 in 7.3k loan or £107 in 33k Gold Trust... I'm wondering if there's some sort of mass exodus is taking place???
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Post by dan1 on Jun 17, 2019 21:00:45 GMT
Since about a week ago my auto-lending became very active. I'm getting much larger chunks than normal for my cash balance and auto-lend settings - I keep depositing more than once a day because my cash balance gets emptied within few hours. Some unusual allocations like £31 in 7.3k loan or £107 in 33k Gold Trust... I'm wondering if there's some sort of mass exodus is taking place??? Knock-on effect of the ongoing court case? Perhaps a BH or two decided to reduce/remove their auto-lend settings, could even be the founders/backers/friends+family etc. It could be as simple as an influx of new loans emptying investors cash but with the launch of the IFISA this is less likely than pre-IFISA. Might be worth keeping an eye on the number of renewed loans, and loans to the same borrower. It'll make mid-Dec interesting.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jun 17, 2019 21:06:17 GMT
Since about a week ago my auto-lending became very active. I'm getting much larger chunks than normal for my cash balance and auto-lend settings - I keep depositing more than once a day because my cash balance gets emptied within few hours. Some unusual allocations like £31 in 7.3k loan or £107 in 33k Gold Trust... I'm wondering if there's some sort of mass exodus is taking place??? Knock-on effect of the ongoing court case? Perhaps a BH or two decided to reduce/remove their auto-lend settings, could even be the founders/backers/friends+family etc. It could be as simple as an influx of new loans emptying investors cash but with the launch of the IFISA this is less likely than pre-IFISA. Might be worth keeping an eye on the number of renewed loans, and loans to the same borrower. It'll make mid-Dec interesting. I've turned off auto lending until the court case is sorted. Sure many others have too.
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corto
Member of DD Central
one-syllabistic
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Post by corto on Jun 17, 2019 21:34:14 GMT
did somebody call?
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jun 17, 2019 21:38:29 GMT
Possible the multiple large manual orders have sucked a large portion of cash balance out of the market temporarily.
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Post by df on Jun 17, 2019 21:42:18 GMT
Since about a week ago my auto-lending became very active. I'm getting much larger chunks than normal for my cash balance and auto-lend settings - I keep depositing more than once a day because my cash balance gets emptied within few hours. Some unusual allocations like £31 in 7.3k loan or £107 in 33k Gold Trust... I'm wondering if there's some sort of mass exodus is taking place??? Knock-on effect of the ongoing court case? Perhaps a BH or two decided to reduce/remove their auto-lend settings, could even be the founders/backers/friends+family etc. It could be as simple as an influx of new loans emptying investors cash but with the launch of the IFISA this is less likely than pre-IFISA. Might be worth keeping an eye on the number of renewed loans, and loans to the same borrower. It'll make mid-Dec interesting. I've never though UB could be suitable for BH appetite. That would be very worrying if it's founders/backers/friends+family... There are few to the same borrower, but can't control it by auto-invest settings. The same as I** on AC's Green - all four were distributed as separate loans.
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Post by df on Jun 17, 2019 21:46:45 GMT
Knock-on effect of the ongoing court case? Perhaps a BH or two decided to reduce/remove their auto-lend settings, could even be the founders/backers/friends+family etc. It could be as simple as an influx of new loans emptying investors cash but with the launch of the IFISA this is less likely than pre-IFISA. Might be worth keeping an eye on the number of renewed loans, and loans to the same borrower. It'll make mid-Dec interesting. I've turned off auto lending until the court case is sorted. Sure many others have too. Yes, that's probably the most likely cause.
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amwinv
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Post by amwinv on Jun 18, 2019 1:32:11 GMT
Collateral, then UB court case, then Lendy. Each one has stamped p2p confidence and people seem to pull out/reduce on all platforms a little more each time. Nothing to worry about I'm sure. If you believe in the valuations, there's no point panicking like the rest of the flock. Enjoy the extra allocations.
"the time to buy is when there's blood in the p2p streets" And all that....
(Famous last words?)
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IFISAcava
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Post by IFISAcava on Jun 18, 2019 7:35:42 GMT
Collateral, then UB court case, then Lendy. Each one has stamped p2p confidence and people seem to pull out/reduce on all platforms a little more each time. Nothing to worry about I'm sure. If you believe in the valuations, there's no point panicking like the rest of the flock. Enjoy the extra allocations. "the time to buy is when there's blood in the p2p streets" And all that.... (Famous last words?) The valuations + PF on UB are fine and I have had and still have decent amounts invested. But if the court case costs were to put them into administration then fees eat into everything. With that added risk the UB rates (6% & 8.4%) aren't quite enough for me at the moment to reinvest. But in all likelihood yes UB will be fine. I'll be back once court case sorted.
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archie
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Post by archie on Jun 18, 2019 9:02:01 GMT
I'm still investing with the same auto-invest levels.
In the unlikely event the court case is lost I'll reconsider.
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alanh
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Post by alanh on Jun 18, 2019 9:24:35 GMT
I'm very pleased to see allocation levels going up. The security levels on unbolted are second to none. I have been with them for 18 months now and have had a grand total of zero losses. Their business model works very well - defaults are quite high but security is properly valued and easy to sell at levels which result in full repayment to lenders, so I have more confidence in UB than many other platforms that I use. Having been part of the Lendy court case I have pretty much completely dismissed the UB one. This guy appears to have seen the Lendy case and used it as a blueprint for his case. Having subsequently seen it completely fail he must be wondering why he has even bothered.
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IFISAcava
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Post by IFISAcava on Jun 18, 2019 9:52:44 GMT
I should also say that I was investing via a limited company which (since the court case, not sure if it is linked, but perhaps was promoted by looking at the fine print of regulations) is no longer allowed, so am being forced to withdraw as it repays in any case. I was shifting money into the ISA but have put this plan on hold until the court case settles (and have switched of reinvest for the amount already in there for now).
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Post by df on Jun 18, 2019 10:37:14 GMT
Collateral, then UB court case, then Lendy. Each one has stamped p2p confidence and people seem to pull out/reduce on all platforms a little more each time. Nothing to worry about I'm sure. If you believe in the valuations, there's no point panicking like the rest of the flock. Enjoy the extra allocations. "the time to buy is when there's blood in the p2p streets" And all that.... (Famous last words?) I'm not too worried about "court case" loans. If I'm not mistaken, they are all covered by PT so in theory there should be no capital loss for us, just a long cash drag.
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Ukmikk
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Post by Ukmikk on Jun 19, 2019 18:07:56 GMT
Collateral, then UB court case, then Lendy. Each one has stamped p2p confidence and people seem to pull out/reduce on all platforms a little more each time. Nothing to worry about I'm sure. If you believe in the valuations, there's no point panicking like the rest of the flock. Enjoy the extra allocations. "the time to buy is when there's blood in the p2p streets" And all that.... (Famous last words?) I'm not too worried about "court case" loans. If I'm not mistaken, they are all covered by PT so in theory there should be no capital loss for us, just a long cash drag. Me neither. I'm currently moving funds across to ISA plus additional money and I'm happy at the way it's being taken up. Just keep the settings for unprotected business loans at a sensible level.
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Post by df on Jun 21, 2019 13:39:55 GMT
I'm not too worried about "court case" loans. If I'm not mistaken, they are all covered by PT so in theory there should be no capital loss for us, just a long cash drag. Me neither. I'm currently moving funds across to ISA plus additional money and I'm happy at the way it's being taken up. Just keep the settings for unprotected business loans at a sensible level. Yes, it's very important if you don't want to be overexposed. I keep this setting very low. When I get allocation I look at how much I already lending to the same borrower and add if I feel I can stretch more (these loans usually stay available for a while).
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