hendragon
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Post by hendragon on Oct 8, 2020 13:59:28 GMT
If I can still count correctly it appears that 17 out of the last 20 "new loans" have been renewals. I am NOT suggesting UB are doing anything wrong but the ratio of new to renewal seems a little high to me.
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Post by Badly Drawn Stickman on Oct 8, 2020 14:18:43 GMT
If I can still count correctly it appears that 17 out of the last 20 "new loans" have been renewals. I am NOT suggesting UB are doing anything wrong but the ratio of new to renewal seems a little high to me. I think it has been a fair percentage for as long as I can remember. I have always taken it as more to do with the loan length being comparatively short than a negative as such. Presumably the current climate is going to make paying off even more tricky for the 'borrowers' (not sure what they are classed as). I have noticed more funds building up over the last few weeks, which surprised me a bit as I would have expected business to have gone up a notch (this could just be me and not a trend). They seem to usually manage to dispose when necessary at a good enough price to repay in full, so without getting over complacent feel fairly confident to 'leave well alone' with them. Nice to see somebody keeping an eye on them though.
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mogish
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Post by mogish on Oct 8, 2020 15:33:30 GMT
I've noticed the same. I also now have 25% of funds not on loans. Maybe a lack of new customers causing reloans/cash drag?
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benaj
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Post by benaj on Oct 8, 2020 16:41:51 GMT
Renewal is better than a forever court case. At least the interest has been paid.
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Ukmikk
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Post by Ukmikk on Oct 9, 2020 15:03:36 GMT
I'm more concerned by my steadily rising cash balance than renewals. Suggests they are short of business. I would be interested to find out the reasons behind that.
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Post by df on Oct 9, 2020 15:32:04 GMT
If I can still count correctly it appears that 17 out of the last 20 "new loans" have been renewals. I am NOT suggesting UB are doing anything wrong but the ratio of new to renewal seems a little high to me. It has been going like this for a while. I think this is a result of pandemic (less new borrowing). In the past 7 months my investment in UB has reduced by 35%. I haven't changed my strategy, there are simply more returns than new loans.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Oct 9, 2020 21:33:05 GMT
Also, the number of loan pledged items being sent to auction seems to have rapidly increased recently. This probably means, in the absence of sufficient new lending, our balances will increase further by end November.
Nerve has usually held in respect of lending criteria at Unbolted when this has happened before. No race to the bottom to generate business.
Also reducing my cash holdings before month end for other reasons so its handy for me. My invested and cash balance is now less than received interest from Unbolted over time.
I really hope it picks up again in the future.
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dermot
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Post by dermot on Oct 12, 2020 11:00:10 GMT
I now have a total portfolio value of almost 5 figures with a net funds transferred in value of ... £0, which is interesting.
I had quite a few older and overdue loans pay off over the last few weeks and decided that £1K of float was sufficient, so drew out cash to hit the magic zero.
To be fair, I had been redirecting returned funds to my UB ISA since April, but it filled up some months back.
Unless renewals/new loans fall to an unacceptably low level, I'll probably just let it mount up until next ISA year begins.
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Post by rover on Oct 13, 2020 16:21:58 GMT
An alternative possibility to a lack of borrowers could be a surfeit of lenders.
I wonder how many new lenders UNB has acquired since interest rates have dropped again?
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sd2
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Post by sd2 on Oct 16, 2020 9:33:46 GMT
I'm more concerned by my steadily rising cash balance than renewals. Suggests they are short of business. I would be interested to find out the reasons behind that. Ask!
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