dermot
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Post by dermot on Apr 14, 2018 15:53:43 GMT
I'm currently active in AC, MT, RS and UB - running down BM and LY (essentially out of the last two, barring a couple of £K defaulting). With a decent sized chunk in CO neverneverland.
Not really interested in putting cash into more manual loans requiring DD, I'm supposed to be retired now.
I see ABL are now offering diversified portfolio loans - how is that working out for people? Sure, I could throw more cash into the packaged accounts in AC, but interested in ABL for some diversification and I see the rates might be a bit higher. In any case, will be looking for a home for some cash from (hopefully) CO is returned.
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Post by Ace on Apr 14, 2018 16:02:30 GMT
I stuck £100 in ABL portfolio loan to test the water. It took around 3 weeks to get invested as you have to join a queue. Although you can see the total amount in the queue, you can't see your position in it. So it's a bit of a guessing game as to whether to accept the cash drag or pull out and invest elsewhere.
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dermot
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Post by dermot on Apr 14, 2018 16:11:24 GMT
I stuck £100 in ABL portfolio loan to test the water. It took around 3 weeks to get invested as you have to join a queue. Although you can see the total amount in the queue, you can't see your position in it. So it's a bit of a guessing game as to whether to accept the cash drag or pull out and invest elsewhere. Ah, now that is a definite drawback - waiting a bit to get invested is more or less expected; being kept in the dark as to queue position is less so. RS seem to handle that pretty well.
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oldtimer
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Post by oldtimer on Apr 14, 2018 16:14:03 GMT
I believe there is at least one more portflio loan in the pipeline at the moment but not sure when it will be released.
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ceejay
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Post by ceejay on Apr 14, 2018 16:27:01 GMT
I have cash in ABL as well as AC and from what you've said I think the AC packaged accounts are more like what you are looking for.
ABL has, I think, good quality loans at good rates but there aren't many of them and there are a lot of duplicate borrowers so getting diversification is tough. And the "diversified portfolio loan" is an odd beast: there is only one at the moment, and as has been pointed out it doesn't take much for the needle to swing to "buyers wanted" and for your money thence to be stuck for a while.
I currently see ABL as something of a niche in my P2P portfolio. High rates, high maintenance - a nice bit of pepper in the mix but definitely not hands-off.
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mason
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Post by mason on Apr 14, 2018 16:28:02 GMT
I suppose the main issue with just taking a small bite of every ABL loan is the sheer number of loans connected to the same borrowers. I don't yet see the portfolio loans offering an advantage in that regard. I think the general calibre of loan here is higher than elsewhere (I won't name names), so I'd probably favour a passive self-select approach over the portfolio loan(s) at this point.
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Post by GSV3MIaC on Apr 14, 2018 17:55:40 GMT
The other issue is that many loans are amortising, so you have to keep feeding the returned funds back into something, MANUALLY. I keep asking for some more automation, but right now you probably have to log in at least weekly and spend some time buying some new (or SM) loans with your idle cash (unless you just withdraw it of course, but even that is manual).
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pom
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Post by pom on Apr 14, 2018 18:29:26 GMT
I'm currently active in AC, MT, RS and UB - running down BM and LY (essentially out of the last two, barring a couple of £K defaulting). With a decent sized chunk in CO neverneverland. Not really interested in putting cash into more manual loans requiring DD, I'm supposed to be retired now. I see ABL are now offering diversified portfolio loans - how is that working out for people? Sure, I could throw more cash into the packaged accounts in AC, but interested in ABL for some diversification and I see the rates might be a bit higher. In any case, will be looking for a home for some cash from (hopefully) CO is returned. Ermmm honestly? I have some in the first portfolio loans but still don't really understand the general offering and how they'll really work (the only one available so far is single company, so not really diversified). But other than that have been a fan of the platform since well before their recent popularity.... Just make sure you've read the tax stuff in case it applies to you.
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dermot
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Post by dermot on Apr 14, 2018 19:42:36 GMT
I'm currently active in AC, MT, RS and UB - running down BM and LY (essentially out of the last two, barring a couple of £K defaulting). With a decent sized chunk in CO neverneverland. Not really interested in putting cash into more manual loans requiring DD, I'm supposed to be retired now. I see ABL are now offering diversified portfolio loans - how is that working out for people? Sure, I could throw more cash into the packaged accounts in AC, but interested in ABL for some diversification and I see the rates might be a bit higher. In any case, will be looking for a home for some cash from (hopefully) CO is returned. Ermmm honestly? I have some in the first portfolio loans but still don't really understand the general offering and how they'll really work (the only one available so far is single company, so not really diversified). But other than that have been a fan of the platform since well before their recent popularity.... Just make sure you've read the tax stuff in case it applies to you. Ah, tax stuff - can you give me a hint?
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pom
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Post by pom on Apr 14, 2018 19:51:33 GMT
Ermmm honestly? I have some in the first portfolio loans but still don't really understand the general offering and how they'll really work (the only one available so far is single company, so not really diversified). But other than that have been a fan of the platform since well before their recent popularity.... Just make sure you've read the tax stuff in case it applies to you. Ah, tax stuff - can you give me a hint? Probably only an issue if you have lots of transactions elsewhere that mean you have to fill out the CGT pages (in which case you'll need to do some spreadsheeting)....but still, worth being aware that their interpretation of the tax situation is rather different to other platforms. www.ablrate.com/faq/what-is-the-tax-position/
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IFISAcava
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Post by IFISAcava on Apr 14, 2018 23:04:27 GMT
I stuck £100 in ABL portfolio loan to test the water. It took around 3 weeks to get invested as you have to join a queue. Although you can see the total amount in the queue, you can't see your position in it. So it's a bit of a guessing game as to whether to accept the cash drag or pull out and invest elsewhere. This is a big downside, as you just don't know the likely length for which you will be tying up capital with no interest. Unlike Self select loans where you get instant returns.
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Post by Ace on Apr 14, 2018 23:26:48 GMT
Probably only an issue if you have lots of transactions elsewhere that mean you have to fill out the CGT pages (in which case you'll need to do some spreadsheeting)....but still, worth being aware that their interpretation of the tax situation is rather different to other platforms. www.ablrate.com/faq/what-is-the-tax-position/Wow, thanks for pointing that out pom, I think . That made my head ache! Think I may need to read it again when I sober up. But, on the positive side, it looks like Instant Returns are tax free if you don't pay CGT
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Post by df on Apr 15, 2018 2:47:14 GMT
I stuck £100 in ABL portfolio loan to test the water. It took around 3 weeks to get invested as you have to join a queue. Although you can see the total amount in the queue, you can't see your position in it. So it's a bit of a guessing game as to whether to accept the cash drag or pull out and invest elsewhere. It crossed my mind to test the water when it was announced, but decided against mainly because of complexity of the offering. There are plenty more straight forward 8% loans on p2p market.
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Balder
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Post by Balder on Apr 15, 2018 6:50:08 GMT
All about timing I think and a bit of luck.
I put £15K into the 1st portfolio loan, sold it instantly when the new tax year started to invest into the IFISA.
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Post by Ace on Apr 15, 2018 7:19:49 GMT
All about timing I think and a bit of luck. I put £15K into the 1st portfolio loan, sold it instantly when the new tax year started to invest into the IFISA. Yes, selling hasn't been a problem for the few weeks that I've been watching. Always been over £20k available for instant withdrawal.
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