starfished
Member of DD Central
Posts: 296 
Likes: 216
|
Post by starfished on Apr 29, 2020 19:14:46 GMT
Given the climate, I have been surprised that my cash balance has been increasing, repayments far exceeding new loans. Similarly at RS. RS have a significant amount of refunds to process, so that I understand. However, Unbolted are not in that position. I assume the process they follow to review the backing asset has had to change which may cause a slow down or do you think it is more people have cheaper options elsewhere at present?
|
|
|
|
Post by Badly Drawn Stickman on Apr 29, 2020 19:34:31 GMT
Given the climate, I have been surprised that my cash balance has been increasing, repayments far exceeding new loans. Similarly at RS. RS have a significant amount of refunds to process, so that I understand. However, Unbolted are not in that position. I assume the process they follow to review the backing asset has had to change which may cause a slow down or do you think it is more people have cheaper options elsewhere at present? Not had a problem myself, but have a fairly modest investment. I am still coming across things that are not immediately obvious as a result of lock down, but fairly obvious when you think them through. It could just be something as basic as physical difficulties valuing and taking possession of assets for new loans. Most of my loans seem to just renew regularly, so probably not an issue in those cases.
|
|
mrdc
Member of DD Central
Posts: 73
Likes: 33
|
Post by mrdc on Apr 29, 2020 19:42:13 GMT
Given the climate, I have been surprised that my cash balance has been increasing, repayments far exceeding new loans. Similarly at RS. RS have a significant amount of refunds to process, so that I understand. However, Unbolted are not in that position. I assume the process they follow to review the backing asset has had to change which may cause a slow down or do you think it is more people have cheaper options elsewhere at present? Not had a problem myself, but have a fairly modest investment. I am still coming across things that are not immediately obvious as a result of lock down, but fairly obvious when you think them through. It could just be something as basic as physical difficulties valuing and taking possession of assets for new loans. Most of my loans seem to just renew regularly, so probably not an issue in those cases. The 80k art loan today was because of covid restrictions so some business lost and some gained
|
|
|
|
Post by Badly Drawn Stickman on Apr 29, 2020 21:24:29 GMT
Not had a problem myself, but have a fairly modest investment. I am still coming across things that are not immediately obvious as a result of lock down, but fairly obvious when you think them through. It could just be something as basic as physical difficulties valuing and taking possession of assets for new loans. Most of my loans seem to just renew regularly, so probably not an issue in those cases. The 80k art loan today was because of covid restrictions so some business lost and some gained I only lend on Gold loans so would have no idea about that. Art loans have an interesting history on P2P, so good luck with that one.
|
|
starfished
Member of DD Central
Posts: 296
Likes: 216
|
Post by starfished on Apr 29, 2020 21:53:12 GMT
Given the climate, I have been surprised that my cash balance has been increasing, repayments far exceeding new loans. Similarly at RS. RS have a significant amount of refunds to process, so that I understand. However, Unbolted are not in that position. I assume the process they follow to review the backing asset has had to change which may cause a slow down or do you think it is more people have cheaper options elsewhere at present? Not had a problem myself, but have a fairly modest investment. I am still coming across things that are not immediately obvious as a result of lock down, but fairly obvious when you think them through. It could just be something as basic as physical difficulties valuing and taking possession of assets for new loans. Most of my loans seem to just renew regularly, so probably not an issue in those cases. I am pretty small fry, hence my surprise getting just a handful of new loans over the last week but significantly more repayments. Perhaps I am actually too small and therefore not experiencing a typical profile.
|
|
mrdc
Member of DD Central
Posts: 73
Likes: 33
|
Post by mrdc on Apr 30, 2020 11:12:23 GMT
starfished says "I am pretty small fry,". I like that.  |
|
sd2
Member of DD Central
Posts: 621
Likes: 224
|
Post by sd2 on May 6, 2020 10:38:11 GMT
I think the valuation will be the problem. It will be difficult to value items for auctions as no one can actually go to the auction reducing demand. The internet will not completely replace that demand but it will have some effect. Naturally items will have to be viewed by a valuer that also seems like problem.
That latest art pawn requires the borrower to pay a years interest even if paid back early? Harsh?
|
|
Nomad
Member of DD Central
Posts: 727 
Likes: 494
|
Post by Nomad on May 22, 2020 15:57:19 GMT
An interesting new loan with low LTV and paying 0.8% pcm has just been listed.
|
|
Mousey
Member of DD Central
Posts: 1,569
Likes: 6,558
|
Post by Mousey on May 22, 2020 17:20:41 GMT
An interesting new loan with low LTV and paying 0.8% pcm has just been listed. Yep, altho anyone doing due dil on the borrower should note there's a typo...The surname should end A*** instead of E***
ETA: Now corrected on the website 
|
|
sd2
Member of DD Central
Posts: 621
Likes: 224
|
Post by sd2 on May 23, 2020 10:26:23 GMT
New £260,000 loan!
Well unbolted are certainly getting some big loans in. Which we have the advantage of knowing what the ltv is before lending.
This one looks good on paper and I doubt it would sell at a loss for us lenders but I would be very surprised if unbolted wouldn't forborne this loan if asked. We may have a long time to wait for our return. I still don't know if we get the extra interest if the loan is paid before the 3 months.
Anyway I have yet to make my mind up. No rush it ain't going to get filled anytime soon.
|
|
michaelc
Member of DD Central
Posts: 4,868
Likes: 2,762
|
Post by michaelc on May 23, 2020 13:45:50 GMT
The 80k art loan today was because of covid restrictions so some business lost and some gained I only lend on Gold loans so would have no idea about that. Art loans have an interesting history on P2P, so good luck with that one. The reason they've been .... shall we say....problematic is due to the borrower and his "relationship" with the asset. If you're largely referring to the FS art loans presumably those assets could equally well have been gold and we'd still be toast. I grant you there's an extra layer of worry around whether the art is fake and its liquidity as compared to say gold.
|
|
|
|
Post by df on May 24, 2020 2:55:32 GMT
An interesting new loan with low LTV and paying 0.8% pcm has just been listed. The second in a row to the same borrower?
|
|
