johnfleet
Member of DD Central
Posts: 170
Likes: 85
|
Post by johnfleet on Jul 24, 2018 14:15:50 GMT
Hi ablrate as I have a lot of dead money on the platform at the moment can you please give an idea(ish) of pipeline when and size? Thanks I've already asked similar question and ablrate has answered this - "Forecasting pipeline can become an issue, and it puts unecessary pressure on the credit team. What we end up doing is giving constant updates and answering questions from lenders trying to evaluate a loan before its live. so now the notice is given when we are 99% sure we are there." Very reasonable answer, I think. If you have a lot of idle money you can withdraw it (takes a couple of days in my experience) and reinvest when new loans are live (instant deposit by debit card). I use instant access savings bank account for this, so whilst my money is in waiting they are earning 1.3% (better than nothing). All our funds on Ablrate - are in IFISAs - Not sure what the situation is with withdrawing cash as suggested above. Would I be able to put money back into the IFISA - given that both are maxed out at the £20K limit currently?
|
|
|
Post by df on Jul 24, 2018 14:28:08 GMT
I've already asked similar question and ablrate has answered this - "Forecasting pipeline can become an issue, and it puts unecessary pressure on the credit team. What we end up doing is giving constant updates and answering questions from lenders trying to evaluate a loan before its live. so now the notice is given when we are 99% sure we are there." Very reasonable answer, I think. If you have a lot of idle money you can withdraw it (takes a couple of days in my experience) and reinvest when new loans are live (instant deposit by debit card). I use instant access savings bank account for this, so whilst my money is in waiting they are earning 1.3% (better than nothing). All our funds on Ablrate - are in IFISAs - Not sure what the situation is with withdrawing cash as suggested above. Would I be able to put money back into the IFISA - given that both are maxed out at the £20K limit currently? As far as I know Ablrate IFISA is flexible, which means you can remove funds during the tax year without losing the allowance provided the funds are put back in in time before the tax year ends. But it would be best to check it directly with Ablrate before doing anything.
|
|
archie
Posts: 1,839
Likes: 1,842
|
Post by archie on Jul 24, 2018 14:35:14 GMT
Ablrate ISA is flexible :- See here.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jul 24, 2018 15:01:43 GMT
Yes, I have done it and put the money back.
|
|
|
Post by dan1 on Jul 25, 2018 9:16:33 GMT
Hi ablrate as I have a lot of dead money on the platform at the moment can you please give an idea(ish) of pipeline when and size? Thanks In my experience, initiating a withdrawal will almost certainly be followed by a new loan email! More than once I've withdrawn to only have to deposit before the withdrawal hits my bank account. No complaints just the way it is
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jul 25, 2018 9:31:10 GMT
Hi ablrate as I have a lot of dead money on the platform at the moment can you please give an idea(ish) of pipeline when and size? Thanks Hi balder. Your money is not dead, it's just resting on the platform.
|
|
|
Post by ablrate on Jul 25, 2018 10:54:52 GMT
Hi.. we have about £2 million of loans percolating which will be hitting the platform within the next week, subject to everything being in order.
|
|
jontyab
Member of DD Central
Posts: 116
Likes: 79
|
Post by jontyab on Jul 25, 2018 12:53:54 GMT
In my experience, initiating a withdrawal will almost certainly be followed by a new loan email! More than once I've withdrawn to only have to deposit before the withdrawal hits my bank account. No complaints just the way it is Right on cue..
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Jul 25, 2018 13:02:51 GMT
Hi.. we have about £2 million of loans percolating which will be hitting the platform within the next week, subject to everything being in order. ablrate, tomorrow's proposed bid limit of £3000 for an attractive £300,000 loan seems absurdly high to me, more or less guaranteeing that the loan will disappear in no time at all. I'd suggest something around £500 is more appropriate, assuming you want it to last at least a few hours and stem the inevitable complaints from those who miss out.
|
|
|
Post by GSV3MIaC on Jul 25, 2018 13:15:43 GMT
I could see as high as £1,000, maybe, but £3k is indeed just taking the proverbial .. 100 happy-(-ish) punters, and all the rest somewhat less than gruntled. ablrate seem either slow to learn, or deficient in the maths department (£300k / number of willing punters = £3k? I don't think so .. maybe a decimal place error??)
|
|
des
Posts: 119
Likes: 78
|
Post by des on Jul 25, 2018 13:26:16 GMT
Anything less than 1% bid limit I'll not bother, I'm not in the pocket money business.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jul 25, 2018 13:26:42 GMT
Not worth the effort for £500 - except to see if the bidding system has been fixed.
|
|
|
Post by dan1 on Jul 25, 2018 13:30:09 GMT
Anything less than 1% bid limit I'll not bother, I'm not in the pocket money business. £2999.99 gets my vote
|
|
|
Post by ablrate on Jul 25, 2018 13:31:12 GMT
I could see as high as £1,000, maybe, but £3k is indeed just taking the proverbial .. 100 happy-(-ish) punters, and all the rest somewhat less than gruntled. ablrate seem either slow to learn, or deficient in the maths department (£300k / number of willing punters = £3k? I don't think so .. maybe a decimal place error??) Hi 79% of lenders in the last loan bid less than £3,000. It is a balance, we would like to let those who want the loan have some, but also those who are trying to deploy larger amounts of capital across our platform the opportunity to do so. We think we are striking a calculated balance... and there is over a million pounds coming in the pipeline shortly.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Jul 25, 2018 13:41:44 GMT
I could see as high as £1,000, maybe, but £3k is indeed just taking the proverbial .. 100 happy-(-ish) punters, and all the rest somewhat less than gruntled. ablrate seem either slow to learn, or deficient in the maths department (£300k / number of willing punters = £3k? I don't think so .. maybe a decimal place error??) Hi 79% of lenders in the last loan bid less than £3,000. It is a balance, we would like to let those who want the loan have some, but also those who are trying to deploy larger amounts of capital across our platform the opportunity to do so. We think we are striking a calculated balance... and there is over a million pounds coming in the pipeline shortly. The last loan was for £1m and so offered relatively limited scope for “flipping” (buying more than you intend to keep, selling the balance at a premium to those who miss out). This one is rather different and I suspect will be hoovered up within 30 minutes*, possibly less. (* the first 90% of it, anyway. Who knows how long the system will take to accept bids for the final 10% )
|
|