Ukmikk
Member of DD Central
Posts: 452 
Likes: 306
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Post by Ukmikk on Oct 5, 2022 17:39:54 GMT
It seems the additional marketing we funded by reduced interest rates isn't working.
Have you even seen any additional marketing because I haven't !
Quite.
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Post by overthehill on Oct 27, 2022 14:11:09 GMT
New loans finally seem to be exceeding repaid loans. I can't say I'm surprised given the economy but our rates should be 1% higher.
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Post by df on Oct 27, 2022 16:31:22 GMT
New loans finally seem to be exceeding repaid loans. I can't say I'm surprised given the economy but our rates should be 1% higher. I had to deposit new money yesterday and again today when my cash account went to zero. 7.8% is still ok for today and probably for the next 6 months.
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Post by scrumper on Oct 28, 2022 10:05:51 GMT
New loans finally seem to be exceeding repaid loans. I can't say I'm surprised given the economy but our rates should be 1% higher. I had to deposit new money yesterday and again today when my cash account went to zero. 7.8% is still ok for today and probably for the next 6 months. From the look of my autoinvested loans this is mainly due to a single borrower taking 5 large loans in the last 2 weeks, so in 6 months there may be a significant amount of repaid money waiting to be lent again.
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Post by redpete on Oct 28, 2022 10:35:37 GMT
For the first time in ages there is a loan available as 'Buy Now' option, but as I am already in for this borrower at around £870 across 5 loans I won't be adding to it.
That does expose a flaw in the Auto-lend limit per loan, it doesn't account for multiple loans to the same borrower, quite possibly for the same purpose.
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Post by geofft on Oct 28, 2022 12:09:26 GMT
For the first time in ages there is a loan available as 'Buy Now' option, but as I am already in for this borrower at around £870 across 5 loans I won't be adding to it. That does expose a flaw in the Auto-lend limit per loan, it doesn't account for multiple loans to the same borrower, quite possibly for the same purpose. Yeah, fell victim to this autolend quirk on this loan, already had a share of it, topped up the account with some more cash and found another chunk of it going to this same loan. Shouldn't be a problem I guess but would like to have had a choice in the matter...
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Post by scrumper on Oct 28, 2022 13:33:08 GMT
And the autoinvest page still states:
"You can choose to invest different amounts depending on loan types and limit your exposure per working capital loan borrower."
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Post by df on Oct 28, 2022 16:06:23 GMT
For the first time in ages there is a loan available as 'Buy Now' option, but as I am already in for this borrower at around £870 across 5 loans I won't be adding to it. That does expose a flaw in the Auto-lend limit per loan, it doesn't account for multiple loans to the same borrower, quite possibly for the same purpose. We used to be able to put a limit per borrower for this type of loans. It's a shame UB scrapped this feature. My exposure to this borrower is now far too high for my liking and the only way to avoid it is to set my limit to £0, which in turn would prevent me from getting allocations to other borrowers. They could've at least warned that there will be 5 loans to the same borrower within a short period of time...
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Post by scrumper on Oct 28, 2022 17:18:51 GMT
For the first time in ages there is a loan available as 'Buy Now' option, but as I am already in for this borrower at around £870 across 5 loans I won't be adding to it. That does expose a flaw in the Auto-lend limit per loan, it doesn't account for multiple loans to the same borrower, quite possibly for the same purpose. We used to be able to put a limit per borrower for this type of loans. It's a shame UB scrapped this feature. My exposure to this borrower is now far too high for my liking and the only way to avoid it is to set my limit to £0, which in turn would prevent me from getting allocations to other borrowers. They could've at least warned that there will be 5 loans to the same borrower within a short period of time... I'm in a similar position, leaving my balance at zero while the loan remains unfilled, but the same borrower may take another loan as soon as I deposit more. This needs a rethink.
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Post by redpete on Oct 28, 2022 20:20:46 GMT
For the first time in ages there is a loan available as 'Buy Now' option, but as I am already in for this borrower at around £870 across 5 loans I won't be adding to it. That does expose a flaw in the Auto-lend limit per loan, it doesn't account for multiple loans to the same borrower, quite possibly for the same purpose. We used to be able to put a limit per borrower for this type of loans. It's a shame UB scrapped this feature. My exposure to this borrower is now far too high for my liking and the only way to avoid it is to set my limit to £0, which in turn would prevent me from getting allocations to other borrowers. They could've at least warned that there will be 5 loans to the same borrower within a short period of time... I raised a question with UB on this and got the following reply: That is fair - an option here would have been not to auto-lend and put for sale, but in this case, given the low LTV and long history of borrower with Forum, on balance we thought that most of our silent lenders would prefer to have exposure here (given cash drag etc.). However, if you would rather not have exposure on the last part, let us know in the next hour or so and our master lender can buy you out without any penalty.
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Post by Ace on Oct 28, 2022 21:16:38 GMT
We used to be able to put a limit per borrower for this type of loans. It's a shame UB scrapped this feature. My exposure to this borrower is now far too high for my liking and the only way to avoid it is to set my limit to £0, which in turn would prevent me from getting allocations to other borrowers. They could've at least warned that there will be 5 loans to the same borrower within a short period of time... I raised a question with UB on this and got the following reply: That is fair - an option here would have been not to auto-lend and put for sale, but in this case, given the low LTV and long history of borrower with Forum, on balance we thought that most of our silent lenders would prefer to have exposure here (given cash drag etc.). However, if you would rather not have exposure on the last part, let us know in the next hour or so and our master lender can buy you out without any penalty. Master lender???
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Post by redpete on Oct 30, 2022 19:23:06 GMT
I raised a question with UB on this and got the following reply: That is fair - an option here would have been not to auto-lend and put for sale, but in this case, given the low LTV and long history of borrower with Forum, on balance we thought that most of our silent lenders would prefer to have exposure here (given cash drag etc.). However, if you would rather not have exposure on the last part, let us know in the next hour or so and our master lender can buy you out without any penalty. Master lender??? I imagine a grey-haired gentleman with pince-nez glasses and a quill pen sitting in the attic room at UB HQ, balancing the books at the end of each day between investors' money and the UB guineas held in Coutts & Co's most secure vaults.
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Post by overthehill on Oct 30, 2022 20:12:16 GMT
I raised a question with UB on this and got the following reply: That is fair - an option here would have been not to auto-lend and put for sale, but in this case, given the low LTV and long history of borrower with Forum, on balance we thought that most of our silent lenders would prefer to have exposure here (given cash drag etc.). However, if you would rather not have exposure on the last part, let us know in the next hour or so and our master lender can buy you out without any penalty. Master lender???
Fundingsecure had master borrowers or master baiters, they may have liked fishing, I'm not sure.
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Post by df on Oct 30, 2022 21:58:50 GMT
I raised a question with UB on this and got the following reply: That is fair - an option here would have been not to auto-lend and put for sale, but in this case, given the low LTV and long history of borrower with Forum, on balance we thought that most of our silent lenders would prefer to have exposure here (given cash drag etc.). However, if you would rather not have exposure on the last part, let us know in the next hour or so and our master lender can buy you out without any penalty. Master lender??? Trying to guess, could it be the name of their auto-lend system?
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easynow
Member of DD Central
Popcorn anyone?
Posts: 178
Likes: 147
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Post by easynow on Oct 31, 2022 19:38:19 GMT
More likely to be an Underwriter.
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