ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,851
Likes: 11,078
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Post by ilmoro on Oct 27, 2021 19:52:29 GMT
Put your maximum higher - it is the lower of your balance and your maximum that determines your allocation. (but maybe have a lower limit for the business loans as these are usually a higher allocation) From the UB web site: As an example, if you have set a maximum amount of £1000 and the total auto-lend instruction from all lenders on the platform is £20,000,
you will receive 1/20th of every new loan less than £20,000. I understand the 1/20th of every new loan (£20,000 / £1000), but where does the "less than £20,000" feature??? If it's £20,000 or more you get £1000 whatever as all the autoloan funds will have been deployed so the % calculation is only relevant to loans below £20,000.
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Post by Ace on Oct 27, 2021 19:56:27 GMT
Put your maximum higher - it is the lower of your balance and your maximum that determines your allocation. (but maybe have a lower limit for the business loans as these are usually a higher allocation) From the UB web site: As an example, if you have set a maximum amount of £1000 and the total auto-lend instruction from all lenders on the platform is £20,000,
you will receive 1/20th of every new loan less than £20,000. I understand the 1/20th of every new loan (£20,000 / £1000), but where does the "less than £20,000" feature??? What they are saying makes sense, because if the loan was for more than £20k you can't receive 1/20th as that would be more than your maximum. However, it really doesn't work like that. I have access to multiple accounts, and even if the settings are identical they don't receive the same allocation. Accounts with higher available balance receive higher allocations when the maximums are equal. I haven't been able to work out the exact allocation formula, but it does depend on the available balance and the requested maximum. Also, when the loans are small, such that giving everyone a slice would result in allocations below £5, the minimum allocation is set to £5 and a random ballot decides which lenders get an allocation.
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Post by drphil on Oct 28, 2021 18:59:25 GMT
I put in £2,400 two weeks ago applied to all 3 categories with a max of £800 and have lent the princely sum of £176! Is there any way of improving speed of disbursement? Forgive my ignorance, this is the first time I’ve used UB, but at my speed it’s not viable. I don't understand why you've lent so littleNeither do I. I've had around £200 lent with a cash balance of a few hundred and £80 max across all three categories.
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Post by df on Oct 28, 2021 19:54:07 GMT
I don't understand why you've lent so little Neither do I. I've had around £200 lent with a cash balance of a few hundred and £80 max across all three categories. There was a significant increase in allocations recently, I had to top up, nearly ran out of cash. But it's back to normal now. It is rare when I make transactions these days, returns and new allocations seem to be well balanced.
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ukinvestor
Member of DD Central
Posts: 116
Likes: 34
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Post by ukinvestor on Oct 28, 2021 22:28:19 GMT
From the UB web site: As an example, if you have set a maximum amount of £1000 and the total auto-lend instruction from all lenders on the platform is £20,000,
you will receive 1/20th of every new loan less than £20,000. I understand the 1/20th of every new loan (£20,000 / £1000), but where does the "less than £20,000" feature??? What they are saying makes sense, because if the loan was for more than £20k you can't receive 1/20th as that would be more than your maximum. However, it really doesn't work like that. I have access to multiple accounts, and even if the settings are identical they don't receive the same allocation. Accounts with higher available balance receive higher allocations when the maximums are equal. I haven't been able to work out the exact allocation formula, but it does depend on the available balance and the requested maximum. Also, when the loans are small, such that giving everyone a slice would result in allocations below £5, the minimum allocation is set to £5 and a random ballot decides which lenders get an allocation. Interesting insight... Neither the £5 minimum allocation is mentioned on their web site nor the impact of the available balance. Makes me wonder if the available balance has equal significance as the set maximum amount
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Post by Ace on Oct 28, 2021 23:18:44 GMT
What they are saying makes sense, because if the loan was for more than £20k you can't receive 1/20th as that would be more than your maximum. However, it really doesn't work like that. I have access to multiple accounts, and even if the settings are identical they don't receive the same allocation. Accounts with higher available balance receive higher allocations when the maximums are equal. I haven't been able to work out the exact allocation formula, but it does depend on the available balance and the requested maximum. Also, when the loans are small, such that giving everyone a slice would result in allocations below £5, the minimum allocation is set to £5 and a random ballot decides which lenders get an allocation. Interesting insight... Neither the £5 minimum allocation is mentioned on their web site nor the impact of the available balance. Makes me wonder if the available balance has equal significance as the set maximum amount As I said above, I couldn't determine the exact algorithm. There are some examples in various posts higher up this thread that might give you some idea. See here for one.
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Post by overthehill on Oct 29, 2021 7:37:35 GMT
Interesting insight... Neither the £5 minimum allocation is mentioned on their web site nor the impact of the available balance. Makes me wonder if the available balance has equal significance as the set maximum amount As I said above, I couldn't determine the exact algorithm. There are some examples in various posts higher up this thread that might give you some idea. See here for one. Are renewals not the 3rd variable i.e. depends if you are in or out of the original loan ? Not sure that has any bearing on what you're trying to resolve?! Anyway, there was a loan 2DFDC9499 around midnight and I got £39. I think all my maxs are set to £300 and my balance is around £700
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Post by Ace on Oct 29, 2021 8:04:48 GMT
As I said above, I couldn't determine the exact algorithm. There are some examples in various posts higher up this thread that might give you some idea. See here for one. Are renewals not the 3rd variable i.e. depends if you are in or out of the original loan ? Not sure that has any bearing on what you're trying to resolve?! Anyway, there was a loan 2DFDC9499 around midnight and I got £39. I think all my maxs are set to £300 and my balance is around £700
I don't think that makes any difference, but I'm not sure. This was a renewal of 2DFDC7E0C. Here are my my allocations if anyone can work out any pattern: £89.63 allocation, £13.30 repaid from previous loan, max £500, balance ~£1164. £29.95 allocation, £38.82 repaid from previous loan, max £500, balance ~£128. £19.64 allocation, £14.08 repaid from previous loan, max £150, balance ~£78.
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Post by Ace on Nov 5, 2021 12:18:32 GMT
A rare sight on Unbolted. There's currently a loan available for manual investment with £12k still available.
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Post by geofft on Nov 5, 2021 13:42:05 GMT
I've had £200 go out on a single loan this morning, that's with a £500 limit set on all 3 loan types. I'm thinking that's a bit more than I'm comfortable with on a single loan, was hoping it wouldn't go that high. Think I'll reset the limits to £200, though I guess that will slow cash outgoings down a bit. I'm a newbie to this Unbolted lark so still learning the ropes at the moment...
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Post by Ace on Nov 5, 2021 13:58:22 GMT
A rare sight on Unbolted. There's currently a loan available for manual investment with £12k still available. All gone now. I'd been confused when previous loans that went to manual lending without me being allocated my maximum requested loan amount. Having watched today's loan closely, it's become obvious what happens. Today's loan was essentially a refinance of a previous loan. In one of my accounts, where there were considerable unallocated funds, I was allocated my maximum loan amount. So no problem there. In another account, if I only looked at it now, I would see that I had only been allocated £80 (even though my maximum was set to £500), yet my account still had £300 of unallocated funds. Which would have seemed odd since I knew the loan was opened up to manual investors, so why wasn't I allocated more? The answer is that the new loan is fully processed before repayments from the previous loan were dealt with. So, at the time the new loan was processed I only had £80 of unallocated funds in the account and these were all allocated to the new loan. Then, some time later, the repayments from the old loan were processed repaying the £300 plus interest that I had in that loan. If I had only looked at the end of the day I would have been puzzled as to why I had only been allocated £80 when there were lots of unallocated funds (£300+) in my account. It would be better if the repayment of the old loan was processed before the new loan. That way I would have been auto allocated the full £380+ in the new loan. If that's not possible, then performing a second round of auto allocations after the repayments were processed would achieve the same result. As it happens I was able to manually allocate the funds, but only because I happened to be at my computer when the loans were being processed.
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Post by Ace on Nov 5, 2021 14:07:53 GMT
I've had £200 go out on a single loan this morning, that's with a £500 limit set on all 3 loan types. I'm thinking that's a bit more than I'm comfortable with on a single loan, was hoping it wouldn't go that high. Think I'll reset the limits to £200, though I guess that will slow cash outgoings down a bit. I'm a newbie to this Unbolted lark so still learning the ropes at the moment... Geoff, I assume that the reason that you were allocated £200 in today's loan is because that was all that was available in your account at the time. The fact that this loan went to manual lending means that everyone's auto requests were fully satisfied up to the amount of unallocated funds in their account at the time. So, if you reduced your maximum to £200, you would still have been allocated £200 today. You really have to reduce you limit to the amount you are prepared to lend per loan, even though that will reduce the amount you are allocated in most (oversubscribed) loans.
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Post by geofft on Nov 5, 2021 14:29:08 GMT
I've had £200 go out on a single loan this morning, that's with a £500 limit set on all 3 loan types. I'm thinking that's a bit more than I'm comfortable with on a single loan, was hoping it wouldn't go that high. Think I'll reset the limits to £200, though I guess that will slow cash outgoings down a bit. I'm a newbie to this Unbolted lark so still learning the ropes at the moment... Geoff, I assume that the reason that you were allocated £200 in today's loan is because that was all that was available in your account at the time. The fact that this loan went to manual lending means that everyone's auto requests were fully satisfied up to the amount of unallocated funds in their account at the time. So, if you reduced your maximum to £200, you would still have been allocated £200 today. You really have to reduce you limit to the amount you are prepared to lend per loan, even though that will reduce the amount you are allocated in most (oversubscribed) loans. Thanks Ace, understood. Yes you're correct, this was the last £200 of my initial investment. I obviously need to read up on how the maximums work, this is the "lazy investor" in me showing up again. Started with £1k on Oct 18th so it's all gone out in about 2.5 weeks. I'm reasonably happy with that, so will be adding a bit more cash very soon.
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Post by Ace on Nov 5, 2021 14:40:29 GMT
Geoff, I assume that the reason that you were allocated £200 in today's loan is because that was all that was available in your account at the time. The fact that this loan went to manual lending means that everyone's auto requests were fully satisfied up to the amount of unallocated funds in their account at the time. So, if you reduced your maximum to £200, you would still have been allocated £200 today. You really have to reduce you limit to the amount you are prepared to lend per loan, even though that will reduce the amount you are allocated in most (oversubscribed) loans. Thanks Ace, understood. Yes you're correct, this was the last £200 of my initial investment. I obviously need to read up on how the maximums work, this is the "lazy investor" in me showing up again. Started with £1k on Oct 18th so it's all gone out in about 2.5 weeks. I'm reasonably happy with that, so will be adding a bit more cash very soon. Thanks for confirming Geoff. The good news is that this borrower has a good record of paying the interest on his loans. The same loan has essentially been running since Feb 2019 (renewing as a new loan every 6 months). He repaid roughly half the loan mid way through the last loan. If he does that again you would get a partial repayment of your £200, which could then be used to further diversify.
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Post by df on Nov 6, 2021 22:03:43 GMT
Are renewals not the 3rd variable i.e. depends if you are in or out of the original loan ? Not sure that has any bearing on what you're trying to resolve?! Anyway, there was a loan 2DFDC9499 around midnight and I got £39. I think all my maxs are set to £300 and my balance is around £700
I don't think that makes any difference, but I'm not sure. This was a renewal of 2DFDC7E0C. Here are my my allocations if anyone can work out any pattern: £89.63 allocation, £13.30 repaid from previous loan, max £500, balance ~£1164. £29.95 allocation, £38.82 repaid from previous loan, max £500, balance ~£128. £19.64 allocation, £14.08 repaid from previous loan, max £150, balance ~£78. Can’t work out the pattern, but this example shows that larger balances have larger cash drag.
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