dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,022
Likes: 591
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Post by dave4 on Sept 13, 2023 18:24:36 GMT
Launch 14/9/23
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Post by df on Sept 15, 2023 3:06:25 GMT
15.39%. The highest rate Q offered so far. I hope this is the new normal. In the current environment 15% for unsecured loans is about right, I think.
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Post by Ace on Sept 15, 2023 3:19:26 GMT
15.39%. The highest rate Q offered so far. I hope this is the new normal. In the current environment 15% for unsecured loans is about right, I think. Don't forget that, due to the mechanics of the platform, the XIRR will be double that, ignoring the initial cash drag before the loan starts. It's also very important to understand that the borrowers AER is around 50%. That's a very high rate for a business to sustain for 3 years. There was a dental loan that paid lenders a simple rate of 16.2%. That one repaid early, so the XIRR will have been less than double.
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firedog
Member of DD Central
Posts: 312
Likes: 392
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Post by firedog on Sept 19, 2023 8:05:19 GMT
All gone now. Be interesting to see how this one does!
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Post by Penny Pincher on Oct 27, 2023 11:31:57 GMT
I've received my first repayment on this investment, which is on time but slightly less than expected.
Both the profit and principal amounts are a small fraction lower than the values that I predicted using the numbers presented in the offer document. The principal repayment is particularly puzzling, as this surely should be a straight-forward division of the initial principal, by 36.
It's as if the repayment has been adjusted to account for September having only 30 days.
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Post by Ace on Oct 27, 2023 11:49:00 GMT
I've received my first repayment on this investment, which is on time but slightly less than expected. Both the profit and principal amounts are a small fraction lower than the values that I predicted using the numbers presented in the offer document. The principal repayment is particularly puzzling, as this surely should be a straight-forward division of the initial principal, by 36. It's as if the repayment has been adjusted to account for September having only 30 days. That's odd. My capital repayment (£13.89) was as expected from a £500 investment.
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Post by Penny Pincher on Oct 27, 2023 12:14:19 GMT
I've received my first repayment on this investment, which is on time but slightly less than expected. ... That's odd. My capital repayment (£13.89) was as expected from a £500 investment. Thanks, I've sent Qardus a message. I'm sure there's an innocent explanation.
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Post by Penny Pincher on Jan 2, 2024 23:44:12 GMT
That's odd. My capital repayment (£13.89) was as expected from a £500 investment. Thanks, I've sent Qardus a message. I'm sure there's an innocent explanation. Qardus responded to my message with an explanation that the difference was due to rounding of borrower repayments and that any discrepancy would be corrected for in the final repayment. Today I received the third repayment from this loan which, for the first time, was exactly the capital and profit I initially calculated/expected.
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