|
|
Post by df on Feb 22, 2023 22:45:11 GMT
... is borrowing at cost of APR 28.42% for business purposes against their much loved collection of watches. Sounds like the last resort to keep their business afloat. I'm glad my UB settings are reasonably low, probably need to reset them even lower.
|
|
|
|
Post by Ace on Feb 22, 2023 23:28:04 GMT
There are many possible reasons that he needs cash quickly. Perhaps he'll arrange cheaper finance while this loan is running. Who knows? Frankly I wasn't too bothered as there was highly liquid security at 65% LTV including interest. I took the chance to go large to soak all unallocated cash in my accounts. It's the first time I've been able to get all funds deployed for some time.
|
|
mogish
Member of DD Central
Posts: 1,105
Likes: 527
|
Post by mogish on Feb 23, 2023 16:18:51 GMT
Luv this forum. Fast info that keeps me on the ball.
Just checked that loan, wiped out my entire cash holding of £137.
Seems alarge loan. Fingers crossed.
|
|
ganymede
Member of DD Central
Posts: 304 
Likes: 211
|
Post by ganymede on Feb 23, 2023 20:59:09 GMT
That was a sizeable loan yesterday, I added cash as balance wiped to zero yesterday after the auto lend, today's they auto lending took another large chunk of that added cash for the same loan, rather than me using the buy option.
I've not seen this before, auto lending going back and grabbing a second chunk after adding funds. It more than doubled up on the initial auto lend allocation.
I've have reduced by lend amount so it's doesn't happen again.
|
|
mogish
Member of DD Central
Posts: 1,105
Likes: 527
|
Post by mogish on Feb 24, 2023 12:55:19 GMT
That was a sizeable loan yesterday, I added cash as balance wiped to zero yesterday after the auto lend, today's they auto lending took another large chunk of that added cash for the same loan, rather than me using the buy option.
I've not seen this before, auto lending going back and grabbing a second chunk after adding funds. It more than doubled up on the initial auto lend allocation.
I've have reduced by lend amount so it's doesn't happen again.
I deliberately held of topping up. Prefer to see some cash coming back in first. I also might reduce my lend values.
|
|
benaj
Member of DD Central
N/A
Posts: 5,591
Likes: 1,735
|
Post by benaj on Feb 24, 2023 18:20:55 GMT
.... not watch trade related...
Could it be FINANCE related? May be UB can be more OPEN about this borrower?
a genuine 'connection' to the assets and wears them all on rotation? So asset could even not owned by the borrower and borrower still have ACCESS to wear them on rotation?
|
|
|
|
Post by df on Feb 24, 2023 21:27:34 GMT
.... not watch trade related... Could it be FINANCE related? May be UB can be more OPEN about this borrower? a genuine 'connection' to the assets and wears them all on rotation? So asset could even not owned by the borrower and borrower still have ACCESS to wear them on rotation? They don't have to. In pawn industry it doesn't matter who the borrower is and the purpose of borrowing is also irrelevant. All it matters is the asset that the lender have in possession. Assuming watches are kept in a secure storage facilities, not on borrower's wrist, and the valuation is right - the risk of loosing capital is fairly low.
|
|
investibod
Member of DD Central
Posts: 288
Likes: 152
|
Post by investibod on Feb 27, 2023 8:47:52 GMT
.... not watch trade related... Could it be FINANCE related? May be UB can be more OPEN about this borrower? a genuine 'connection' to the assets and wears them all on rotation? So asset could even not owned by the borrower and borrower still have ACCESS to wear them on rotation? It's the Crown Jewels. Some will need to be redeemed in time for the Coronation. 
|
|
