p2pmark
Member of DD Central
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Likes: 187
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Post by p2pmark on Jun 12, 2022 12:54:52 GMT
We've seen plenty of these type of messages in P2P, Lendingworks and Property Partner spring to mind. It's all about perception rather than reality, typical management speak. Just come out and be truthful instead.
Looking at the borrower rates I'm not sure why they need to reduce lender rates at all. Call it profit taking or greed depending on your own level of cynicism.
I think they are focussing on sustainability of the business. If my reading of it is correct, it's a good news for investors who choose to stay. Arguably overdue: p2pindependentforum.com/thread/18125/accounts-nov-2019-filed-ok?page=2
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scooter
Member of DD Central
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Post by scooter on Jun 12, 2022 13:42:57 GMT
Thanks
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jcb208
Member of DD Central
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Post by jcb208 on Jun 12, 2022 16:19:55 GMT
I changed my investing to gold a while back and cash drag was near 25%,never really got well invested in unbolted and only have a small investment left with a chunk stuck in the loans with the borrower trying to take us to the cleaners
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mogish
Member of DD Central
Posts: 1,105
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Post by mogish on Jun 12, 2022 19:05:06 GMT
Ah, I was wondering how everyone else only has 3 or 4% cash drag.
My settings are higher for gold, maybe that's why if other doing the same are as high as 25%.
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archie
Posts: 1,865
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Post by archie on Jun 13, 2022 9:31:18 GMT
The only auto-lend setting now is 'Maximum investment commitment per Loan'.
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Post by Ace on Jun 13, 2022 10:02:29 GMT
The only auto-lend setting now is 'Maximum investment commitment per Loan'. There seems to be no way of limiting exposure at the borrower level for working capital loans any more. The explanation of Autolend in HOME / INVESTING / AUTO LEND appears to be unaware of the changes!
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Post by overthehill on Jun 13, 2022 10:07:04 GMT
The only auto-lend setting now is 'Maximum investment commitment per Loan'.
Did I miss the memo about abolishing the maximum loan amount per borrower ? This is where I start seeing red coloured flags as I did with Fundingsecure almost exactly 1 year before they went into administration.
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registerme
Member of DD Central
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Post by registerme on Jun 13, 2022 10:51:04 GMT
The only auto-lend setting now is 'Maximum investment commitment per Loan'. Did I miss the memo about abolishing the maximum loan amount per borrower ? This is where I start seeing red coloured flags as I did with Fundingsecure almost exactly 1 year before they went into administration.
please would you comment on this? I share the concern that some have expressed...
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Post by df on Jun 13, 2022 11:11:55 GMT
Ah, I was wondering how everyone else only has 3 or 4% cash drag. My settings are higher for gold, maybe that's why if other doing the same are as high as 25%. 2 possible reasons for high cash drag. 1. depositing a large sum. 2. setting "standard" loans on £0.
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mogish
Member of DD Central
Posts: 1,105
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Post by mogish on Jun 13, 2022 12:49:17 GMT
loan settings(as off yesterday at 250 across the board) , prior to the changes, gold 220 , the other 2 options at 110.
Ive always had around 10% upwards sitting uninvested. If this continues to increase I may start drawing down . Might as well get 4% elsewhere rather trhan a potential 8%.
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Post by df on Jun 13, 2022 15:18:10 GMT
loan settings(as off yesterday at 250 across the board) , prior to the changes, gold 220 , the other 2 options at 110. Ive always had around 10% upwards sitting uninvested. If this continues to increase I may start drawing down . Might as well get 4% elsewhere rather trhan a potential 8%. So it wasn't the settings, but keeping too much uninvested cash on the platform. I always keep mine at between 1.5% and 5%, mainly at approximately 3%. Doesn't take much effort to keep it balanced, this year I've made 2 deposits and 4 withdrawals.
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Post by Ace on Jun 14, 2022 13:15:02 GMT
Not sure that today's shenanigans are quite cricket!
A loan was repaid early that was 0.85% pm to lenders and 1.5% pm to UB. A new loan to the same borrower against the same security (plus a few more books) was then created that pays the same 1.5% pm to UB but only 0.65% pm to lenders. So, as soon as lender rates dropped UB refinanced a loan so that they could immediately take a bigger share. Despite telling us that rates on existing loans would continue until completion. I'm a little miffed.
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Post by overthehill on Jun 14, 2022 16:38:44 GMT
Not sure that today's shenanigans are quite cricket! A loan was repaid early that was 0.85% pm to lenders and 1.5% pm to UB. A new loan to the same borrower against the same security (plus a few more books) was then created that pays the same 1.5% pm to UB but only 0.65% pm to lenders. So, as soon as lender rates dropped UB refinanced a loan so that they could immediately take a bigger share. Despite telling us that rates on existing loans would continue until completion. I'm a little miffed.
2nd red coloured flag in 2 days. Due to demand outstripping supply , if you keep withdrawing available cash it seems to build up again possibly because of the algorithms. I'm quite happy to reduce my exposure, 8% is good but it's not 10% ! I can recommend the cricket highlights tonight rather than P2P research.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
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Post by ilmoro on Jun 14, 2022 16:57:06 GMT
Not sure that today's shenanigans are quite cricket! A loan was repaid early that was 0.85% pm to lenders and 1.5% pm to UB. A new loan to the same borrower against the same security (plus a few more books) was then created that pays the same 1.5% pm to UB but only 0.65% pm to lenders. So, as soon as lender rates dropped UB refinanced a loan so that they could immediately take a bigger share. Despite telling us that rates on existing loans would continue until completion. I'm a little miffed. Are they shenanigans or just the borrower wanting to increase the facility? Suppose it could have been issued as a separate loan but maybe that doesnt suit/work as a package.
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Post by redpete on Sept 13, 2022 16:36:09 GMT
I've just noticed that one of today's loans has been marked at 0.8% / 9.6%. Have UB gone back to the split rates that they had before the June change?
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