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Post by redpete on Nov 9, 2022 16:02:11 GMT
I'm now 6 months into having an Unbolted account which, given that the standard loan is for 6 months, means that I am at the end of the 'build' phase of my investment. I started with putting in £1000 and drip-fed as the cash was allocated to loans. Total amount paid into the account now just short of £6500 - a small proportion of my investments. Hopefully it's clear enough, the graph below shows the weekly balance over the 6 months, blue is cash allocated to loans, red is unallocated cash, aka 'cash drag'. I set the limit for my share of individual loans at £250-£300. The spread of the size of my share of the 354 loans was: 36% - £5 32% - £5-10 19% - £10-25 5% - £25-50 4% - £50-100 2% - £100-340 My share of the loans, for those greater than £5, ranged between 0.05% and 0.59% without an obvious pattern. The average cash balance at the end of the week (after the first month when I put in larger amounts) was about £360. One thing I hadn't anticipated was that loans can be settled early, i.e. before the 6 month loan period. Over this initial 6 month period I had early capital repayments of £1219 with associated interest payments of £36. These payments went back into the pot to be allocated to loans. And what now... I'll be monitoring how the cash balance / cash drag affects the account now that it is in 'business as usual' mode with maturing loans. I probably won't be putting in significant new money, partly because I'm retiring soon and working through how to live on pensions & investment income.
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scooter
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Post by scooter on Nov 9, 2022 18:09:13 GMT
I have been an investor for about a year. I'm totally underwhelmed. Like you i don't have that much in and am not going to put more in any time soon. I have sizeable overdue loans and it seems from the information provided that assets are mostly going unsold at auction. One comment even said "borrower wants to keep xyz asset so we will wait and see what amount we get from the sale of the rest". Yet another P2P putting the investors firmly in last place.
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nick
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Post by nick on Nov 9, 2022 18:17:31 GMT
I've been winding down my UB positions over the past 3 months. Initially I was concerned by platform risk, and in particular the real risk that legal costs associated with pursuing the frivolous claim by a certain lender, make the platform unviable. More recently I have started selling down all my P2P portfolio as the risk reward has firmly tipped the balance towards too much risk and not enough reward given the significant increase in base rate and increased liquidity/refinancing risks that will soon become more evident.
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Post by df on Nov 9, 2022 20:09:10 GMT
I'm now 6 months into having an Unbolted account which, given that the standard loan is for 6 months, means that I am at the end of the 'build' phase of my investment. I started with putting in £1000 and drip-fed as the cash was allocated to loans. Total amount paid into the account now just short of £6500 - a small proportion of my investments. Hopefully it's clear enough, the graph below shows the weekly balance over the 6 months, blue is cash allocated to loans, red is unallocated cash, aka 'cash drag'. View AttachmentI set the limit for my share of individual loans at £250-£300. The spread of the size of my share of the 354 loans was: 36% - £5 32% - £5-10 19% - £10-25 5% - £25-50 4% - £50-100 2% - £100-340 My share of the loans, for those greater than £5, ranged between 0.05% and 0.59% without an obvious pattern. The average cash balance at the end of the week (after the first month when I put in larger amounts) was about £360. One thing I hadn't anticipated was that loans can be settled early, i.e. before the 6 month loan period. Over this initial 6 month period I had early capital repayments of £1219 with associated interest payments of £36. These payments went back into the pot to be allocated to loans. And what now... I'll be monitoring how the cash balance / cash drag affects the account now that it is in 'business as usual' mode with maturing loans. I probably won't be putting in significant new money, partly because I'm retiring soon and working through how to live on pensions & investment income. It will be 6 years next month since I've started on UB. My current XIRR is 8.51%. I maintain my cash drag at between 1.5% and 5.5%, this year it was mainly at around 2.5% and it doesn't take much effort to keep it in control (only 16 transactions this year so far).
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mogish
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Post by mogish on Nov 14, 2022 16:54:50 GMT
I'm still fairly happy with UB. Never going to put a big amount in but rate of return is decent . It seems to be the tortoise if p2p, slow and fairly steady. Unless any scary stories materialise then I will plod on for now.
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michaelc
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Post by michaelc on Nov 19, 2022 19:46:11 GMT
I'm still fairly happy with UB. Never going to put a big amount in but rate of return is decent . It seems to be the tortoise if p2p, slow and fairly steady. Unless any scary stories materialise then I will plod on for now.You've not read this ? p2pindependentforum.com/thread/14543/cashing-out-court-case-ubMy remainder is tied up with that borrower and has been for many months (over a year now? I can't remember). Only good news is in absolute terms, its not huge.
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Greenwood2
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Post by Greenwood2 on Nov 20, 2022 21:09:54 GMT
I'm still fairly happy with UB. Never going to put a big amount in but rate of return is decent . It seems to be the tortoise if p2p, slow and fairly steady. Unless any scary stories materialise then I will plod on for now. Most platforms have the odd scary loan, hopefully not a lot!
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michaelc
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Post by michaelc on Nov 20, 2022 21:18:50 GMT
Most platforms have either gone bankrupt, were found to be run by fraudsters or just continue to muddle along. For now.
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Post by redpete on May 10, 2023 15:43:16 GMT
6 months on, and 6 months of steady-state operation of the account (no significant new deposits or withdrawals), and seeing the results of one full cycle of the 6-month loans maturing. The graph below shows the amount invested and the 'cash drag' over the year - with an average of £140 uninvested cash over the last 6 months (about 2.1% of the total). Of loans that were due to have been paid by now: - 41.6% were paid early or on time
- 37.4% have been paid but were late
- 6.2% have been paid after the assets were sold
- 2.2% are due to be paid off after sale of the assets
- 12.6% are overdue (but the assets are not yet up for sale)
% by value rather than number of loans: - 37.0% was paid early or on time
- 42.4% has been paid but was late
- 2.5% has been paid after the assets were sold
- 1.3% is due to be paid of after sale of the assets
- 18.8% is overdue (but the assets are not yet up for sale)
Early redemptions were paid off an average of 52 days early, with the earliest being 182 days (!).
Late and overdue payments are on average 38 days late with the maximum being 180 days (also !).
Return over the year is currently 4.7%. This will obviously increase as the proportion of loans still within 6 months (and hence not paid off) decreases; currently some 55% of the total loans from opening the account have not yet been paid off (and hence have had no or only partial interest paid).
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