stub8535
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Post by stub8535 on Nov 22, 2016 1:07:10 GMT
What do people think about the 2 new loans coming up on the platform?
Everything seems ok on reading through. no automatic allocations on these two.
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ben
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Post by ben on Nov 22, 2016 9:09:59 GMT
I will be having a little chunk of both of these, valuation maybe a little generous but think more then enough room for it to be a little high.
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stub8535
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Post by stub8535 on Nov 22, 2016 12:43:59 GMT
As the Banksy has been bought the value is established. Interested to read the loan structure offer includes 3 months interest free on the other site under Unbolteds name. The interest rate then goes to 1.5% a month. I don't think the current offer falls in this category though.
The other loan is covered by recourse back to the original lending auctioneer.
Cant see a downside except the fickle nature of art values.
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nush
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Post by nush on Nov 23, 2016 20:37:40 GMT
how do i invest in these 2 new loans, ive added funds to my account ready for them but no sign of them
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stub8535
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Post by stub8535 on Nov 23, 2016 23:16:09 GMT
Email or send a message on chat. Probably better on chat and talk to Rito as I did.
If you state how much you want to invest in each loan I am sure Rito will acknowledge.
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nush
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Post by nush on Nov 24, 2016 20:01:13 GMT
thanks, i sent an email but not had a reply so wasnt sure if i had done the right thing, have the loans gone live yet, nothing on my loans list yet and no cash taken
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stub8535
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Post by stub8535 on Nov 24, 2016 21:11:45 GMT
Loans not live yet I think as I have no allocation.
Both founders been busy changing t and c.
I advise all to read them and not just press accept. I have reported 5 conflicts or ambiguities back to Unbolted.
Removal of proportion of loan choice from the autolend rang alarm bells first. On questioning this I was told that lenders did not understand and it had not been triggered since inception. Seems wrong to me to remove something that limits exposure to a loan. Better to have given examples of how the autolend algorithm works.
To get invested fast I used to set my investment per loan at 5k and limit things to 10% of the loan by putting the proportion at 0.1. I got rapidly invested and none of my allocations were above 9% of any loan. Large and small loans went through in the duration.
By removing the proportion I would be exposed to 5k into each loan, whatever its size, unless I just ask for what I want and accept paltry allocations. The allocation would only be dependent upon other funds in the market with autolend set.
As there is currently no secondary market on Unbolted an overallocation can not be reduced by a lender by selling. As there are t and c talking about a secondary market and the response I got on querying the above that Unbolted is considering the secondary market but there are problems. I have asked them to look at Collateral secondary market for good practice.
I will keep people posted on responses without cimpromising this, imho, brilliant platform.
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stub8535
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Post by stub8535 on Nov 24, 2016 21:16:41 GMT
Banksy loan allocated. just seen notification. Unbolted have not followed instructions to the letter but its in my favour though. 31k left if interested. no autolend on this one.
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fp
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Post by fp on Nov 25, 2016 8:40:15 GMT
Loans not live yet I think as I have no allocation. Both founders been busy changing t and c. I advise all to read them and not just press accept. I have reported 5 conflicts or ambiguities back to Unbolted. Removal of proportion of loan choice from the autolend rang alarm bells first. On questioning this I was told that lenders did not understand and it had not been triggered since inception. Seems wrong to me to remove something that limits exposure to a loan. Better to have given examples of how the autolend algorithm works. To get invested fast I used to set my investment per loan at 5k and limit things to 10% of the loan by putting the proportion at 0.1. I got rapidly invested and none of my allocations were above 9% of any loan. Large and small loans went through in the duration. By removing the proportion I would be exposed to 5k into each loan, whatever its size, unless I just ask for what I want and accept paltry allocations. The allocation would only be dependent upon other funds in the market with autolend set. As there is currently no secondary market on Unbolted an overallocation can not be reduced by a lender by selling. As there are t and c talking about a secondary market and the response I got on querying the above that Unbolted is considering the secondary market but there are problems. I have asked them to look at Collateral secondary market for good practice. I will keep people posted on responses without cimpromising this, imho, brilliant platform. What do you think about them being the "security trustees" for all loans? Doesn't this leave investors wide open to loss should they go belly up? I would have thought the "trustee" should be a third party business to the platform itself, thus giving protection to lenders int he event of platform failure??
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fp
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Post by fp on Nov 25, 2016 8:40:48 GMT
Banksy loan allocated. just seen notification. Unbolted have not followed instructions to the letter but its in my favour though. 31k left if interested. no autolend on this one. And no provision fund.....
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ben
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Post by ben on Nov 25, 2016 12:48:23 GMT
Banksy loan allocated. just seen notification. Unbolted have not followed instructions to the letter but its in my favour though. 31k left if interested. no autolend on this one. And no provision fund..... no provision fund on either of those loans or any similar future loans.
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upland
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Post by upland on Nov 26, 2016 12:06:37 GMT
I think its an interesting development. I dont know how long these new loan types have been about but there is something about other loans types on the website marketing spiel (I never visit it much)
and I wonder whether they have been cooking up a revised business strategies. My funds with Unbolted have declined since the summer as I just have not had the opportunities presented & I have sadly had to withdraw the unused cash. It was quite marked but I get smaller bits of the action and so make less money. Hopefully a few more of these will reverse the situation. I quite like their offer as its a bit different and helps with diversification. I have had an account for a bit over a year and I feel that they handle things OK.
I think that the website could be modified to cater for these different loan types a bit more clearly.
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stub8535
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Post by stub8535 on Nov 28, 2016 19:10:22 GMT
Second one now live. Less than 30% ltv and paying 9% equivalent. £10k available atm.
as for people getting little investments and it taking ages. Have a play with your max investment.
i tried the following today
max at £100 I got 3 loans at less than £20. Increased max value to 500 and got 2 loans at about £50. Increased to £1000 max and got £120.
the above won't always work as it depends on other capital waiting for investment by auto buyers.
The site has just removed the proportion limiter so, if everything is against you, you could get 100% theoretically, of a loan. Unlikely though.
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n
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Post by n on Nov 28, 2016 22:40:20 GMT
stub8535 When you had max at £1000 did you have £1000 available in your account? I am wondering if the allocation takes that into account. My max has been set to £200 for a while and when the balance drops to close to £200 I add another £100, and I have had nearly £200 allocated on at least 2 occasions. I had 8 allocations today (exceptionally) ranging from £15 to £25 (.65% and .85%).
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jonno
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Post by jonno on Nov 29, 2016 10:51:04 GMT
stub8535 When you had max at £1000 did you have £1000 available in your account? I am wondering if the allocation takes that into account. My max has been set to £200 for a while and when the balance drops to close to £200 I add another £100, and I have had nearly £200 allocated on at least 2 occasions. I had 8 allocations today (exceptionally) ranging from £15 to £25 (.65% and .85%). IIRC, the auto invest takes account of your instruction or your available balance if less.
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