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Post by ladywhitenap on Mar 23, 2018 13:23:57 GMT
From memory, we have had £20-30K queuing for the single portfolio loan for possibly 2 weeks maybe more.
This shows that even at 8% there is an appetite for this style of loan so are there any more in the pipeline?
I'd like to see these much more liquid so we can use them as a "deposit account" with a reasonable chance of getting money out in a few days to stash funds whilst waiting for more profitable self select loans to come to the platform.
LW
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elliotn
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Post by elliotn on Mar 23, 2018 13:45:30 GMT
From memory, we have had £20-30K queuing for the single portfolio loan for possibly 2 weeks maybe more. This shows that even at 8% there is an appetite for this style of loan so are there any more in the pipeline? I'd like to see these much more liquid so we can use them as a "deposit account" with a reasonable chance of getting money out in a few days to stash funds whilst waiting for more profitable self select loans to come to the platform. LW Deposit account is probably exactly how we shouldn’t think of it in terms of our risk analysis; this is an investment at par to a company that has never reported a profit and we shouldn’t take our eye off that ball as someone may end up holding it.
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savernake
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Post by savernake on Apr 3, 2018 10:58:01 GMT
ablrate can you let us know when the first DPL will launch? Is it likely to be before the end of this tax year? Working on it now. We are hopeful or launch in March, but will let you know within the next couple of weeks of a firmer date. Are you able to provide us with any further update on a possible launch date for your first DPL? ablrate
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victors
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Post by victors on Apr 27, 2018 12:08:57 GMT
Didn't quite make the 5 years then.
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blender
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Post by blender on Apr 27, 2018 12:28:58 GMT
Didn't quite make the 5 years then. Quite so, repaid immediately, and with the other two loans following. Abl have not been treated well here, imo, and will lose the fees which were taken monthly. And those who had the portfolio as an IFISA will be unhappy.Together with the default, it seems Abl are having a challenging period. The new loan coming from a new borrower is good, but cannot balance out the setback on the portfolio loans. However, you have to have some sympathy with a platform which is working hard to improve its offering to lenders and which communicates well at difficult times, rather than goes to ground.
Nil carborundum, Ablrate.
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Post by ablrate on Apr 27, 2018 13:50:27 GMT
Didn't quite make the 5 years then. Quite so, repaid immediately, and with the other two loans following. Abl have not been treated well here, imo, and will lose the fees which were taken monthly. And those who had the portfolio as an IFISA will be unhappy.Together with the default, it seems Abl are having a challenging period. The new loan coming from a new borrower is good, but cannot balance out the setback on the portfolio loans. However, you have to have some sympathy with a platform which is working hard to improve its offering to lenders and which communicates well at difficult times, rather than goes to ground.
Nil carborundum, Ablrate.
LOL Blender... just another day in Paradise! Default will be completed within a month of reporting it, with penalties to Lenders. There are enough loans - and then some, to fill the money being repaid in May (which is always a good thing!) Plenty of Portfolio Loans in the pipeline. I will agree, it is pain on the Portfolio Loan... but these things happen and its not financially material to us, but it is aggravation for Lenders, but if things are 'not quite, they are not right'.. and liquidity and security is the theme on PLs. When one of those trips up, time to act swiftly.
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iren
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Post by iren on Apr 27, 2018 14:33:16 GMT
The portfolio loan money is now back in my account. Thanks to Ablrate for their usual efficient processes.
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Post by Ace on Apr 27, 2018 16:06:30 GMT
Plenty of Portfolio Loans in the pipeline. Any info on when one of these might go live?
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p2pmark
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Post by p2pmark on Apr 27, 2018 17:38:06 GMT
[snip] Default will be completed within a month of reporting it, with penalties to Lenders. [snip] ? Should this be "without penalties to lenders" ?
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mason
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Post by mason on Apr 27, 2018 17:50:27 GMT
Default will be completed within a month of reporting it, with penalties to Lenders. Pardon my confusion - which default? Presumably nothing to do with MTF if I'm understanding the email correctly. Doesn't seem to fit the bill for the container loans either.Edit: Nevermind, just a temporary memory loss on my part - a lot has been going on this week in the world of P2P
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rzys
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Post by rzys on Apr 28, 2018 9:47:15 GMT
Some of my ISA money was in the queue for the portfolio loan for c20 days, without success. I might invest in a new one at launch, but I don't think I'm going to bother to sit in the queue again. Not unless Ablrate come up with some sort of indication of what the queue times are.
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Post by ablrate on Apr 30, 2018 12:29:25 GMT
Some of my ISA money was in the queue for the portfolio loan for c20 days, without success. I might invest in a new one at launch, but I don't think I'm going to bother to sit in the queue again. Not unless Ablrate come up with some sort of indication of what the queue times are. We are working on some new PLs. The queue issue shouldn't happen when they are running effectively as there will be a new allocation each month. We are working on a 'look through' on the queue to help you know where you are.
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Post by elephantrosie on Apr 30, 2018 19:39:27 GMT
When is the next new portfolio loan will be launched?
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Post by ablrate on May 1, 2018 10:20:07 GMT
When is the next new portfolio loan will be launched? We are working through the paperwork and hope to launch in May
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savernake
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Post by savernake on May 15, 2018 10:54:55 GMT
Are the Diversified Portfolio loans EVER going to launch? They were first announced last December and the ablrate website has been advertising them since then. However, we are now 6 months further on and still no sign of the new product to invest in. I asked ablrate about this back in February and was told they were 'working through the paperwork and expect to launch in the next couple of weeks'.
It's beginning to look like this product is never going to get off the ground. They clearly don't have enough new borrowers to fill one. They need to update their website because it is misleading to new lenders who will sign up thinking they have an auto-invest product available when actually there isn't one.
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