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Post by khampson on Jun 9, 2020 13:22:37 GMT
Hi I have neve invested on this platform, can anyone tell me how long does it take to become invested and do they have a secondary market, and how long does it take to sell loans on this platform.
Thank you
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jonno
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Post by jonno on Jun 9, 2020 13:52:19 GMT
Hi I have neve invested on this platform, can anyone tell me how long does it take to become invested and do they have a secondary market, and how long does it take to sell loans on this platform. Thank you Hi. This is very much a "fire and forget " type of platform. Firstly there is NO secondary market so no selling of loans, you're in for the full term. To get invested, you really have to put an amount in and use "Auto lend" to purchase loans on your behalf (you can determine the type of loans you want and your Max investment in any given loan). It can take a while to build up a decent sized and diversified portfolio, but I've been with them a good few years and have found it's worth the effort. If you want to get out, you need to set "Auto Lend" to nil and then wait for the maturity of your loans. In essence the loans are pawn, but there are various categories detailed on the platform.
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benaj
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Post by benaj on Jun 9, 2020 13:55:29 GMT
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jonno
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Post by jonno on Jun 9, 2020 13:59:15 GMT
Unless I'm mistaken things have changed since this ie protection gone in exchange for higher rates??
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Post by Badly Drawn Stickman on Jun 9, 2020 14:16:25 GMT
Unless I'm mistaken things have changed since this ie protection gone in exchange for higher rates?? It is quite a bit out of date, I will update if anybody cares to highlight what has changed. I am currently just letting it tick over without any real engagement (it seems to be making steady returns) but I am only investing in the Gold and a very modest amount. Seems to lend out again as soon as it has repaid leaving a small amount idle which I withdraw intermittently.
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Post by nooneere on Jun 9, 2020 20:31:08 GMT
Hi I have neve invested on this platform, can anyone tell me how long does it take to become invested and do they have a secondary market, and how long does it take to sell loans on this platform. Thank you I recommend considering the historic loan performance information on this page: unbolted.com/uk/investing/loan-performance/The 'consumer loans' are those you buy with the 'auto-lend' function, whereas the HNW, business and watch dealer loans are bought manually in the 'We have new loans on sale' section. Personally I have 'auto-lend' set to zero and only invest in the HNW, business and watch dealer loans. You can quickly invest large sums in these latter types of loan and they are more reliable (historically), but some would say there are not enough of them for diversification of risk. I handle this last issue by only investing sums I could afford to lose.
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Post by khampson on Jun 10, 2020 6:09:17 GMT
Is interest paid monthly or on completion of the loan, also what is the duration of the loans.
Thank you for your help
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hendragon
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Post by hendragon on Jun 10, 2020 10:40:57 GMT
The standard length of most loans is 6 months.
Interest is paid with capital when the loan ends.
the occasional loan pays interest monthly.
A set of PERSONAL preferences are:
1 put in a small sum monthly to get you started.
2 set auto-lend limits low to diversify. A loan may seem to be a great prospect but judging that from our perspective can be misleading.
3 set a maximum percentage of your total free capital that you are willing to invest in UB and stick to it.
4 as your account matures be willing to bank or withdraw profits.
In fairness to UB they have chugged along quite nicely and above all stuck to areas they know such as bling and art. Many of the problems of other platforms have happened when they have strayed far from their original remit. Yes Lendy and FS I am thinking of you.
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travolta
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Post by travolta on Jun 10, 2020 15:47:04 GMT
IMO stick to gold and secure loans .Its a pawnbroker and apart from the' mad solicitor' affair, I'm well pleased with them. (I have not been paid for this recommendation)
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qwakuk
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Post by qwakuk on Jun 15, 2020 14:35:07 GMT
New to the platform and using AutoLend.
How does the AL work is it an even percentage across all lenders with cash available or is it relation to a proportion of uninvited cash in the account ?
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benaj
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Post by benaj on Jun 15, 2020 15:41:52 GMT
p2pindependentforum.com/post/291453/threadThanks Badly Drawn Stickman for sharing. I am willing to share my bits: Auto LendIt is important to set the maximum per loan for diversification purpose. Min allocation per loan is £5. It doesn't not have limit for the one borrower. You could be lending 100% of your money to the same borrower. I set mine incorrectly on my initial deposit and my largest loan allocation is 12%, but the rest of my allocation are mostly £5 per loan even it was set incorrectly. 6 months loan termMost borrowers do not repay anything before 6 months term except Business Loans. It takes at least 7 months to understand how investment on Unbolted perform. My first 6 months earned 2.5% interest from actual repayment. Overdue loansMost my loans are invested on Provision Trust, and I haven't lost a penny yet. However, due to my incorrect settings in Auto Lend, now I have 40% loan overdue on my initial deposit, largest loan allocation is 12%. UB provides update for these overdue loans. Business LoansThere are 2 types of business loans (Provision Trust / not protected ). Some business borrowers repay full loans pretty quickly within one month. Most of them make repayments or even complete the loan before due date. RecoveryRecovery speed and returns on defaulted loans vary. UB sometimes carry speedy recovery, one of my loans recovered 192 days after start date, XIRR on that recovery is 9.32%. Some other time, the loan is recovered 232 days after start date, XIRR on that loan is 8.52%. Some items can take longer to recover, I have one loan to be recovered 292 days after start date. Multiple loans from same borrowerIt's a common practice. Many borrowers have more than one loans. It is important to check and avoid over exposure.
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badersleg
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Post by badersleg on Jun 15, 2020 20:08:46 GMT
When you set your auto lend for Working Capital loans it is now "Maximum investment per Working Capital Borrower". I think this is a recent change.
Regards, Tim
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qwakuk
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Post by qwakuk on Jun 19, 2020 11:49:19 GMT
Something odd today, got cash in both the normal and ISA accounts, but only got the AutoLend email for the ISA, nothing for the standard account.
Both set with same AL limits, both had cash in them.
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