ianj
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Post by ianj on Oct 24, 2017 16:48:13 GMT
The new loan will be amortising and will pay 14% per annum to lenders.
Loan Details:
Amount: £600,000 (minimum requirement £300,000)
Term: 36 months (12 months minimum term)
Rate: 14% - Amortising
Security: Debenture over Company, Chattels Mortgage over existing assets; Director PG and Cross Guarantees from associated companies.
Instant Returns: Enabled
Loan Live: 1-2pm 25 October 2017
P.S. No mention of any bid limits. If true, this will disappear faster than splippery stuff off a shovel. Flippers paradise!
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Post by GSV3MIaC on Oct 24, 2017 17:14:41 GMT
I have emailed ablrate to suggest they think hard about bid limits, afore I decide my money is wasting its time here. Others might want to mention the same thing. |
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madpierre
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Post by madpierre on Oct 24, 2017 17:33:22 GMT
I have emailed ablrate to suggest they think hard about bid limits, afore I decide my money is wasting its time here. Others might want to mention the same thing. I have spoken in person on the telephone to the 'powers that be' and suggested both bid limits and advance details of forthcoming loans to enable a polite modicum of DD. The reply was 'oh, that's a good idea, we'll consider it'. At least s*d off would have been truthful. Hence my exposure on the platform is limited and will remain so 
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ianj
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Post by ianj on Oct 24, 2017 17:38:11 GMT
And, ablrate , as yet still no sign of loan details being made available before the feeding frenzy starts!  Edit: Already mentioned, I see. It might not do any good, but another well directed prod won't do any harm. |
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hazellend
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Post by hazellend on Oct 24, 2017 17:39:46 GMT
I have only rarely had a problem with getting what I want on ablrate. I’m not sure bid limits are required.
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elliotn
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Post by elliotn on Oct 24, 2017 17:42:05 GMT
Fixed time would be nice.
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ianj
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Post by ianj on Oct 24, 2017 18:08:19 GMT
I have emailed ablrate to suggest they think hard about bid limits, afore I decide my money is wasting its time here. Others might want to mention the same thing. I have spoken in person on the telephone to the 'powers that be' and suggested both bid limits and advance details of forthcoming loans to enable a polite modicum of DD. The reply was 'oh, that's a good idea, we'll consider it'. At least s*d off would have been truthful. Hence my exposure on the platform is limited and will remain so Of course it's a good idea. Confirmation, from a higher authority, here. So that's that settled then!
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Post by dan1 on Oct 24, 2017 18:09:33 GMT
I have emailed ablrate to suggest they think hard about bid limits, afore I decide my money is wasting its time here. Others might want to mention the same thing. I won't be emailing ablrate to request bid limits. I've come to the conclusion that it's their gaff their rules and if I don't like 'em I can take my money elsewhere, analogous to this forum I guess  . I do wonder what my ideal platform would look like? It'd certainly have the ABL SM but not the transaction system, I like their unusual offerings but don't like the fact that so many loans have connected borrowers. Each investors ideal is different and we're fortunate to have the diversity we do in platforms at present, and long may it continue although a flurry of platform failures or M&A activity may end that rather abruptly.
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des
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Post by des on Oct 24, 2017 18:52:55 GMT
I have emailed ablrate to suggest they think hard about bid limits, afore I decide my money is wasting its time here. Others might want to mention the same thing. And others are telling them that if they impose bid limits they will drive away the big hitters, who do you think they should keep onside? I removed all my money from MT as I just couldn't get it loaned out at more than peanuts limit per loan, just not worth bothering. If I can't have a fair chance of getting at least 1% of each new loan, I'll go elsewhere. Maybe if they have a min. bid limit of 0.5% and a max. bid limit of 1% for the first x hours, at least 100-200 people can guarantee participation? Would that keep a majority happy?
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ptr120
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Post by ptr120 on Oct 24, 2017 19:12:38 GMT
A generous bid limit for a short period of time would at least make us thing that they were listening - as would providing loan details in advance. At the moment I'm not investing new money in ablrate just recycling repayments as I think their comms - and respect for lenders is going downhill. |
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gustapher
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Post by gustapher on Oct 24, 2017 19:13:19 GMT
I think it's daft launching them 1-2pm. I keep missing these smaller loans because I have a day job.
As others have said limits like MT or pre-bidding like L would be a lot better.
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peteuk
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Post by peteuk on Oct 24, 2017 19:41:37 GMT
I wonder if this loan has flown down from br****d
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mason
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Post by mason on Oct 24, 2017 19:42:15 GMT
The main problem, as I see it, is having to choose between committing to an investment without reading the full proposal or doing any DD vs. sitting out the loan. This is not a choice any investor should be faced with. It's this platforms Achilles heel unfortunately. It's inexcusable to have no mechanism to get information out to prospective investors ahead of the loan going live for investment.
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macq
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Post by macq on Oct 24, 2017 19:49:47 GMT
The main problem, as I see it, is having to choose between committing to an investment without reading the full proposal or doing any DD vs. sitting out the loan. This is not a choice any investor should be faced with. It's this platforms Achilles heel unfortunately. It's inexcusable to have no mechanism to get information out to prospective investors ahead of the loan going live for investment. Being able to do DD first may also help with the need for bid limits which Abl really don't want
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garfield
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Post by garfield on Oct 24, 2017 19:52:16 GMT
You can always sell it if you don't want to keep it, i.e. bid now, decide later.
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