huxs
Member of DD Central
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Post by huxs on Mar 20, 2015 15:45:31 GMT
Hi,
Are there any unbolted Lenders out there who can let me know their views on the site.
Obviously it is filling a slightly different segment of the market to other P2P companies and is new so any insights would be useful.
From your experience:
What frequency do new loans appear ?
Can you easily spread your risk sufficiently across many loans?
If not using AutoLend are there issues with loans being filled too quickly ?
What are the typical LTV's you are seeing ?
Any teething problems that you have come across ?
Thks
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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
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Post by ilmoro on Mar 20, 2015 16:42:29 GMT
Hi, Are there any unbolted Lenders out there who can let me know their views on the site. Obviously it is filling a slightly different segment of the market to other P2P companies and is new so any insights would be useful. From your experience: What frequency do new loans appear ? Can you easily spread your risk sufficiently across many loans? If not using AutoLend are there issues with loans being filled too quickly ? What are the typical LTV's you are seeing ? Any teething problems that you have come across ? Thks Ive registered but not lent yet as there are IMHO better offers in the space for my funds currently (MT/FS) Loans - very few so far, between 1 or 2 every 2 weeks Diversity - limited, there are 3 loans currently available, and in the absence of a (promised) secondary Market no other opportunities to diversify Speed - dont seem to, oldest loan is from 27/2 13k, 75% filled, newest 18/3 3k 50% filled. LTV - 70-80% on current loans, though I believe previous loans were slightly lower Problems - cant comment on operation of site, see other thread for discussion of site & queries raised.
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nw99
Posts: 340
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Post by nw99 on Aug 13, 2015 21:45:33 GMT
It's a cracking new site first class thank you unbolted .
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huxs
Member of DD Central
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Post by huxs on Aug 14, 2015 8:55:12 GMT
I am also a fan of Unbolted but they do seriously need to sort out their autobid algo, recently I have been assigned a number of very small parts of loans 61p, 62p etc: I know these where for small loans and they are trying to assign parts to all investors but that is just ridiculous. I would rather have misses out on these loans than have such small parts. I have raised this to them and they said they are looking into it but as far as I can see still happening.
The other concern I have with Unbolted is can they scale enough to be a viable business long term, I am sure the volumes needed to turn a profit are a large way from where they are now.
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webwiz
Posts: 1,133
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Post by webwiz on Sept 5, 2015 9:30:10 GMT
I dipped my toe in the water but I am not impressed. The deal flow is slow, loans are slow to fill and AFAIK there is no interest paid until it is full, security against the loans is impossible for lenders to evaluate (art, watches, cars etc), the website is designed mainly for borrowers, there is not much information for lenders. The platform may survive and grow but just now it will not be getting any more of my money.
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stevio
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Post by stevio on Sept 7, 2015 21:04:45 GMT
What are the rates of return like?
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webwiz
Posts: 1,133
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Post by webwiz on Sept 7, 2015 21:33:05 GMT
0.85% per month
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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
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Likes: 11,068
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Post by ilmoro on Sept 7, 2015 21:43:52 GMT
or 0.65% on some loans (cant remember which specifically & site isnt lender friendly (no FAQ) to find out) Edit - must be gold as they only pay 8%
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bob2014
Member of DD Central
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Post by bob2014 on Sept 9, 2015 8:03:19 GMT
I like Unbolted the auto lend makes it work for me, I can gradually invest without wasting time monitoring for new loans. My share of each loan is small often < £30 presumably because each auto lender gets an equal share if the cannot get their maximum. I have added another £250 and will let that trickle out. Hope that they get more borrowers and investors like this low maintenance site. The emails I get for each new loan and investment help keep life easy.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Sept 9, 2015 14:29:34 GMT
Yes I quite like the site.Ease of use,reasonable returns and good customer relations.
Just had my first default- Tag Heuer watch. Will be interesting to see how it plays out.
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bob2014
Member of DD Central
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Post by bob2014 on Sept 11, 2015 5:41:22 GMT
Autolend only distributes 75% of a loan, so there is always 25% left for manual investment.
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stevio
Member of DD Central
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Post by stevio on Sept 12, 2015 18:29:04 GMT
It mentions fees when you go into a loan, whats that all about?
*Set-up fees added to the loan are refunded to the lender if loan principal is not recovered on default.
More details
Loan start date 24 Aug 2015
Cash received by borrower £24000.00
Initial loan amount including setup fees £24720.00
Loan balance outstanding to lenders (current price of loan) £24848.78
Total loan balance outstanding (including Unbolted fees) £24947.26
Your current investment in this loan £0
Your repayments from this loan £0.00
PS - haven't seen any comments from unbolted, obviously not bothered what we think!
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huxs
Member of DD Central
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Post by huxs on Sept 25, 2015 12:50:14 GMT
Yes I quite like the site.Ease of use,reasonable returns and good customer relations. Just had my first default- Tag Heuer watch. Will be interesting to see how it plays out. Hi jonno any news on how Unbolted dealt with the default you mentioned ? thks
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Sept 26, 2015 8:10:36 GMT
Yes I quite like the site.Ease of use,reasonable returns and good customer relations. Just had my first default- Tag Heuer watch. Will be interesting to see how it plays out. Hi jonno any news on how Unbolted dealt with the default you mentioned ? thks Hi huxs. No there has been no further developments. The loan was due to be repaid on 6th Sept. I'll talk to them next week for an update and report any developments here.
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jonno
Member of DD Central
nil satis nisi optimum
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Likes: 3,137
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Post by jonno on Sept 28, 2015 15:24:36 GMT
Hi jonno any news on how Unbolted dealt with the default you mentioned ? thks Hi huxs. No there has been no further developments. The loan was due to be repaid on 6th Sept. I'll talk to them next week for an update and report any developments here. Have spoken to them today. Item is going to auction this week.Will convey the results probably early next week.
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