01-08-2019, 06:04 PM
I have a large sum invested in UB (Relative to what I have invested overall) but I am unsure about their latest move.
The latest move gives people investing more than £20k in a working capital loan repayments of 12% PA. While I am sure most people will welcome the increase in % (If you want to invest £20k+ in an unsecured loan) this has set off an alarm bell in my mind, albeit a small bell.
The increase in % says to me that UB are struggling to fill these large loans that they are taking on. I was quite happy to put my repayments into the "Buy Now" loans, as I am sure many others were/are, but now I am not so sure.
While I am still happy to leave a large amount of money in my ISA accounts with UB, I have started to draw down my ordinary accounts.
I was probably a bit over exposed to UB and watch dealers in general so needed to rein it in a bit, but this made my mind up for me.
Anyone else??
The latest move gives people investing more than £20k in a working capital loan repayments of 12% PA. While I am sure most people will welcome the increase in % (If you want to invest £20k+ in an unsecured loan) this has set off an alarm bell in my mind, albeit a small bell.
The increase in % says to me that UB are struggling to fill these large loans that they are taking on. I was quite happy to put my repayments into the "Buy Now" loans, as I am sure many others were/are, but now I am not so sure.
While I am still happy to leave a large amount of money in my ISA accounts with UB, I have started to draw down my ordinary accounts.
I was probably a bit over exposed to UB and watch dealers in general so needed to rein it in a bit, but this made my mind up for me.
Anyone else??
I'm an engineer by trade, so don't normally have money. If you lose any money because you listened to something I have said, more fool you!!