star dust
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Post by star dust on Sept 22, 2017 11:52:03 GMT
New business loan for £50k secured against some paintings @0.75% per month. Auto-allocated, but circa £16.5k remaining to bid for.
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stub8535
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Post by stub8535 on Sept 22, 2017 12:36:16 GMT
New business loan for £50k secured against some paintings @0.75% per month. Auto-allocated, but circa £16.5k remaining to bid for. Auto allocate is not against your usual loan limit as this is a business loan subject to another setting I think.
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star dust
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Post by star dust on Sept 22, 2017 12:47:41 GMT
New business loan for £50k secured against some paintings @0.75% per month. Auto-allocated, but circa £16.5k remaining to bid for. Auto allocate is not against your usual loan limit as this is a business loan subject to another setting I think. They now have three auto-lend options, one of which is "Maximum investment per Bespoke Loan:" that option covered this loan and had you set anything in it (and had cash in your account), you would have got an allocation.
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savernake
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Post by savernake on Sept 22, 2017 12:48:28 GMT
I'm struggling to understand why the business loan pays a lower rate of interest than the provision trust loans. If its not protected by any of the trusts then it represents a riskier investment and should pay a higher rate of interest?
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Ukmikk
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Post by Ukmikk on Sept 22, 2017 12:52:51 GMT
Agreed. Not only that but the LTV looks more like 100% to me. I'm not biting, despite being desperate for some investments on UNB.
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star dust
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Post by star dust on Sept 22, 2017 13:01:45 GMT
Agreed. Not only that but the LTV looks more like 100% to me. I'm not biting, despite being desperate for some investments on UNB. How did you work the LTV out? It's stated at 50%, but looks more like between 31-62% to me if you believe Christies valuations of course. And don't forget the director's guarantee (yes I know )
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stub8535
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Post by stub8535 on Sept 22, 2017 13:08:58 GMT
Auto allocate is not against your usual loan limit as this is a business loan subject to another setting I think. They now have three auto-lend options, one of which is "Maximum investment per Bespoke Loan:" that option covered this loan and had you set anything in it (and had cash in your account), you would have got an allocation. My posts are not a complaint Stardust they are an observation aimed at new investors. Your post is much better at putting across the point though.
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Ukmikk
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Post by Ukmikk on Sept 22, 2017 13:25:47 GMT
Agreed. Not only that but the LTV looks more like 100% to me. I'm not biting, despite being desperate for some investments on UNB. How did you work the LTV out? It's stated at 50%, but looks more like between 31-62% to me if you believe Christies valuations of course. And don't forget the director's guarantee (yes I know ) I stand corrected star dust, I missed the word 'each' in the email therefore LTV around 50%. Apologies and thank you.
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gurberly
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Post by gurberly on Sept 22, 2017 13:28:33 GMT
All gone now (unless someone changes their bid amount before Monday).
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stub8535
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Post by stub8535 on Sept 22, 2017 13:33:01 GMT
How did you work the LTV out? It's stated at 50%, but looks more like between 31-62% to me if you believe Christies valuations of course. And don't forget the director's guarantee (yes I know ) I stand corrected star dust, I missed the word 'each' in the email therefore LTV around 50%. Apologies and thank you. At least the valuation is after auction costs of 25% with ubl. The loan is a company guarantee as most of this type of loan have been in the past.
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treeman
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Post by treeman on Oct 12, 2017 13:08:13 GMT
New biddable business loan just gone up - 0.9% per month. Going fast £40k left ......
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Post by dan1 on Oct 12, 2017 13:09:24 GMT
New biddable business loan just gone up - 0.9% per month. Going fast £40k left ...... I've just had it confirmed via chat that the asset (a Patek Philippe watch) will be held with Unbolted not with the watch dealer.
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star dust
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Post by star dust on Oct 12, 2017 13:09:48 GMT
£76,125.00 60.00% 0.90% treeman just beat me to it £38,300 still available as I type. As dan1 says loan to a watch dealer secured by a watch In Edit: £34,300 remaining - pity you can't get money onto the platform faster, I've put everything bar £50 in 2nd Edit: I guess if there isn't enough cash on the platform it might be worth a chance on transferring some in for tomorrow, on the other hand the email states they expect it to go out the door today so I guess they think it will fund. Worth watching for a bit. Down to £31,400 14:50 And Gone, so much for tomorrow
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ding
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Post by ding on Oct 12, 2017 13:22:11 GMT
I'm put everything apart from my last £1.37. Missed the gold loan from yesterday. Interesting to see how much cash is sitting on the platform. The remaining amount is going down as quickly as my bank balance today, with the bling/low LTV bits on FS, Wine at MT. Done very little work today!
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treeman
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Post by treeman on Oct 12, 2017 13:37:41 GMT
Quite surprised there's so much free cash on the platform - 5k left
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