corto
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one-syllabistic
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Post by corto on Dec 10, 2019 9:16:00 GMT
This is due to the new settings. I can't remember exactly but most of my lending settings were reset to zero at the end of last week. Judging from what I have received today I would guess that most lenders have not looked at the new settings and adjusted them yet and are therefore getting zero allocations on loans at the moment. I would think it may take a little while for this situation to rectify itself but in the meantime am enjoying getting a decent amount of money invested at the new higher interest rates. Does anybody know they are screening this board? If the above is true it may make sense to send them an email. Many (like me) may have missed the reset limits. Added: sent them a message
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upperdeane
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Post by upperdeane on Dec 10, 2019 9:47:08 GMT
Click on the loan and scroll down to "active loans to the same borrower". But I'm not in that particular loan myself (2DFDC5F12) so I dont have the option to do that do I? I can't find that loan as the URLs don't match the loan ID. Is there a way to look at loans I'm not in myself? Thanks for the PM applets
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upperdeane
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Post by upperdeane on Dec 10, 2019 9:50:35 GMT
This is due to the new settings. I can't remember exactly but most of my lending settings were reset to zero at the end of last week. Judging from what I have received today I would guess that most lenders have not looked at the new settings and adjusted them yet and are therefore getting zero allocations on loans at the moment. I would think it may take a little while for this situation to rectify itself but in the meantime am enjoying getting a decent amount of money invested at the new higher interest rates. Does anybody know they are screening this board? If the above is true it may make sense to send them an email. Many (like me) may have missed the reset limits. Added: sent them a message I definaty had to re-enter my auto-lend settings Saturday as all but gold were changed to zero. I got lot more £ per contract yesterday than any day since I joined Unbolted a few weeks ago. It will be interesting to see what the reply to your email states.
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IFISAcava
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Post by IFISAcava on Dec 10, 2019 9:59:34 GMT
I reduced my amount per loan (so as not to end up with a very large unprotected 4 figure slice) but have still been getting decent sized 2-3 figure chunks, which is all good for now! The challenge will be where to set the limit when people are up to speed - too low and too much cash drag, too high and risk of lack of balance with overexposure to now unprotected loans. I do wonder where the unbolted algorithm works less well in an unprotected setting - flat rate allocations up to the maximum bid rather than percentages of the maximum bid might be preferable to keep portfolio more balanced.
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Post by ashwinp on Dec 10, 2019 10:16:12 GMT
As we have removed the Provision Trust, we have removed that autolend option as it would not be appropriate to allocate new loans based on an instruction that lenders provided us assuming that the loans would be protected by the Trust.
All new loans (except Gold Loans) are done via what used to be the Unprotected Loan autolend amounts (which are now the Standard Loan autolend amounts) - hence the message to check and update your autolend instructions. Obviously many of our lenders are relatively passive investors and have not yet gotten around to doing so. Hence the higher allocations at the moment.
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Post by Ace on Dec 10, 2019 10:17:41 GMT
Oddly, my auto-invest limits were NOT reset to zero!
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Post by ashwinp on Dec 10, 2019 10:29:33 GMT
Oddly, my auto-invest limits were NOT reset to zero! Just to clarify, we did not set them to zero. We merely set them to whatever you had set for unprotected loans. In the case of many investors who only wanted to invest in loans protected by the trusts, the number was zero which meant that in practice it may have appeared that we reset them to zero. Hope that makes sense.
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Post by df on Dec 10, 2019 11:36:47 GMT
Click on the loan and scroll down to "active loans to the same borrower". But I'm not in that particular loan myself (2DFDC5F12) so I dont have the option to do that do I? I can't find that loan as the URLs don't match the loan ID. Is there a way to look at loans I'm not in myself? I don't think we can view the entire loan book, but the other loans to 2DFDC5F12 borrower are 2DFDC6A55, 2DFDC654B, 2DFDC6022, 2DFDC601C and 2DFDC5F81.
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Ukmikk
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Post by Ukmikk on Dec 10, 2019 13:56:44 GMT
Hi ashwinp, would it be possible to un-combine secured loans and business loans for setting auto lend limits please?
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upperdeane
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Post by upperdeane on Dec 10, 2019 15:13:54 GMT
Hi ashwinp , would it be possible to un-combine secured loans and business loans for setting auto lend limits please? I second that request.
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markyg61
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Post by markyg61 on Dec 10, 2019 15:34:50 GMT
Hi ashwinp , would it be possible to un-combine secured loans and business loans for setting auto lend limits please? I second that request.
I third it (if there's such a thing )
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Post by ashwinp on Dec 10, 2019 16:56:32 GMT
Let me try and explain why we combined them. In both cases we have security on assets and take them into possession. The only differences between business loans and loans to individuals are the following. Most loans to individuals (except for HNW loans) are regulated under the Consumer Credit Act. Practically this means that we cannot enforce monthly payment of interest and we have no recourse to the individual borrower if the asset sells for less than the loan amount. Our business loan contract allows us to get recourse to both the business and the director and we often receive interest monthly sometimes by Direct Debit.
From a lender's perspective, business loans if anything have more protection and the statistics back this up ( unbolted.com/uk/investing/loan-performance/). The objective of the recent changes was to simplify the choices unless there is a manifestly higher risk for a loan type. Many of our business loans are indistinguishable from our individual loans in most respects except that the entity borrowing from us happens to be a limited liability company. A significant proportion of our individual borrowers also borrow from us to finance their business working capital requirements.
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Ukmikk
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Post by Ukmikk on Dec 10, 2019 17:38:52 GMT
Let me try and explain why we combined them. In both cases we have security on assets and take them into possession. The only differences between business loans and loans to individuals are the following. Most loans to individuals (except for HNW loans) are regulated under the Consumer Credit Act. Practically this means that we cannot enforce monthly payment of interest and we have no recourse to the individual borrower if the asset sells for less than the loan amount. Our business loan contract allows us to get recourse to both the business and the director and we often receive interest monthly sometimes by Direct Debit.
From a lender's perspective, business loans if anything have more protection and the statistics back this up ( unbolted.com/uk/investing/loan-performance/). The objective of the recent changes was to simplify the choices unless there is a manifestly higher risk for a loan type. Many of our business loans are indistinguishable from our individual loans in most respects except that the entity borrowing from us happens to be a limited liability company. A significant proportion of our individual borrowers also borrow from us to finance their business working capital requirements. Thanks for your reply, and confirming that these loan types, while similar, do have differences which may lead lenders to prefer different limits (eg. Higher limit for business loans). Therefore, would it be possible to un-combine secured loans and business loans for setting auto lend limits please?
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upperdeane
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Post by upperdeane on Dec 10, 2019 23:09:11 GMT
Let me try and explain why we combined them. In both cases we have security on assets and take them into possession. The only differences between business loans and loans to individuals are the following. Most loans to individuals (except for HNW loans) are regulated under the Consumer Credit Act. Practically this means that we cannot enforce monthly payment of interest and we have no recourse to the individual borrower if the asset sells for less than the loan amount. Our business loan contract allows us to get recourse to both the business and the director and we often receive interest monthly sometimes by Direct Debit.
From a lender's perspective, business loans if anything have more protection and the statistics back this up ( unbolted.com/uk/investing/loan-performance/). The objective of the recent changes was to simplify the choices unless there is a manifestly higher risk for a loan type. Many of our business loans are indistinguishable from our individual loans in most respects except that the entity borrowing from us happens to be a limited liability company. A significant proportion of our individual borrowers also borrow from us to finance their business working capital requirements. Thanks for your reply, and confirming that these loan types, while similar, do have differences which may lead lenders to prefer different limits (eg. Higher limit for business loans). Therefore, would it be possible to un-combine secured loans and business loans for setting auto lend limits please? Hi ashwinp - I've just paused all lending on my standard and ISA Unbolted accounts until this is all bottomed out. In my opinion, changing a) interest rates, b) loan protection and c) shrinking the loan categories on auto-invest for investor limit setting all in one go is a major change, that as far as i'm aware we had no pre-warning of. Look forward to your further explaining if Unbolted are able to consider making further changes.
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ding
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Post by ding on Dec 11, 2019 9:26:20 GMT
I reduced my amount per loan (so as not to end up with a very large unprotected 4 figure slice) but have still been getting decent sized 2-3 figure chunks, which is all good for now! The challenge will be where to set the limit when people are up to speed - too low and too much cash drag, too high and risk of lack of balance with overexposure to now unprotected loans. I do wonder where the unbolted algorithm works less well in an unprotected setting - flat rate allocations up to the maximum bid rather than percentages of the maximum bid might be preferable to keep portfolio more balanced.
I would like this too, I've always thought it unfair. I've reduced my invest settings considerably now and getting very small chunks. In the past i've had some loans that I only received capital back due to provision fund kicking in. One was where an IPAD went to auction and got £5 I think. I don't want to have large slices in these types of loans.
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