baldpate
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Post by baldpate on Sept 28, 2015 19:14:46 GMT
Same here, last time I'll be playing this game, far too old. ablrateandy can you process the withdrawal asap please, have another platform which will have to call it home. Ditto to everything. In fact, I'm seriously thinking about withdrawing from Ablrate. Fed up with hanging around for ages for a loan to come along, and then not being able to get on board (a bit like the bus service, then!)
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Post by ravado on Sept 28, 2015 19:15:02 GMT
This thread should be retitled 'Ooo look! More containers ... Oops all gone.' Never mind, Back to Saving Stream and pre-funding loans!
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gt94sss2
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Post by gt94sss2 on Sept 28, 2015 19:16:38 GMT
I've secured some this time - though I didn't realise originally I had and was trying again - as I got an error message saying I couldn't invest more than I had available (though I was just bidding for what available funds I had). Turns out it registered the investment. Must have been lucky with me being on the page/refreshing at the right time etc. I know I got the last (small) tranche available on the first lot of containers and none of the second lot.
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james
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Post by james on Sept 28, 2015 19:17:58 GMT
if I put a single bid in at £1,000, can I subsequently sell in £100 lots (Savingstream style) or is the £1,000 non-divisible. Ie should I be placing 10 bids of £100 or a single bid of £1,000, if I want the opportunity to resell some of my balance. Ablrate maintains just a single balance for each loan so there is nothing to gain from you making multiple bids unless you just happen to get more money available later. On the secondary market you can create an offer for any amount that you own and can have as many offers as you like. A buyer says how much they want to buy and will buy from the cheapest offers available until what they have requested is fulfilled. So: Bid and get £1,000. Place two offers, one for £100 and one for £200 Buyer A asks to buy £1.26 and gets £1.26 from whichever of your offers is cheapest, if both are the cheapest on the market. Buyer B asks to buy £400 worth and may buy all of the remaining £298.74 from you and £101.26 from other offers if it happens that yours are still the cheapest. Pretty much complete flexibility for buyers and sellers on the amounts, except you can't initially offer to sell less than £1.
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nick
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Post by nick on Sept 28, 2015 19:19:38 GMT
Same here, last time I'll be playing this game, far too old. ablrateandy can you process the withdrawal asap please, have another platform which will have to call it home. Ditto to everything. In fact, I'm seriously thinking about withdrawing from Ablrate. Fed up with hanging around for ages for a loan to come along, and then not being able to get on board (a bit like the bus service, then!) Well my first loan attempt was ATR 42-500 loan that took forever to complete (well I was eventually refunded my money plus interest to be fair) and now this. Hopefully loan volume picks up and some mechanism can be devised to give better/fairer access to all as I like the interface and would like to invest.......
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SteveT
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Post by SteveT on Sept 28, 2015 19:23:46 GMT
By my reckoning, £1000 in the 14% container loan earns £70 in 6 months whilst £1000 in the 11% Waste-to-energy loan (with 1%CB) earns £65 over 6 months, only £5 less. So it's interesting why one fills in 5 seconds and the other still has £150k to go after 20 days.
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Investor
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Post by Investor on Sept 28, 2015 19:25:55 GMT
Same here, last time I'll be playing this game, far too old. ablrateandy can you process the withdrawal asap please, have another platform which will have to call it home. Ditto to everything. In fact, I'm seriously thinking about withdrawing from Ablrate. Fed up with hanging around for ages for a loan to come along, and then not being able to get on board (a bit like the bus service, then!) Thinking the same thing. Joined ablrate as one of the very early investors and even spent a couple of hours with them to discuss the opportunity from an investor perspective. (This evening highlights that my opinions were not taken!). One year down the line I have still only got about 20k invested and think that I may change tack and avoid all start ups for the first 18 months until they mature. Same issue with the great team at MT to be honest. Still think ablrate are also a great team but in terms of my effort vs reward there are certainly platforms available that are better suited to my requirements.
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arbster
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Post by arbster on Sept 28, 2015 19:25:58 GMT
By my reckoning, £1000 in the 14% container loan earns £70 in 6 months whilst £1000 in the 11% Waste-to-energy loan (with 1%CB) earns £65 over 6 months, only £5 less. So it's interesting why one fills in 5 seconds and the other still has £150k to go after 20 days. I'm in both, because I like the platform as an alternative source of asset-backed loans.
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SteveT
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Post by SteveT on Sept 28, 2015 19:27:27 GMT
By my reckoning, £1000 in the 14% container loan earns £70 in 6 months whilst £1000 in the 11% Waste-to-energy loan (with 1%CB) earns £65 over 6 months, only £5 less. So it's interesting why one fills in 5 seconds and the other still has £150k to go after 20 days. I'm in both, because I like the platform as an alternative source of asset-backed loans. Likewise.
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jonah
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Post by jonah on Sept 28, 2015 19:35:37 GMT
I'm in both, because I like the platform as an alternative source of asset-backed loans. Likewise. Ditto. But I am concerned about the overall deal flow. Increasing that would help a little to reduce the unhappiness shown in this thread. That or something like bid limits or PF or something. Personally, I wasn't online until 8:15 today... So this one totally passed me by.
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blender
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Post by blender on Sept 28, 2015 20:57:44 GMT
Faster than a speeding bullet. Is it a bird? Is it a plane? Nope, it's another super shipping container.
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Post by yorkshireman on Sept 28, 2015 21:31:37 GMT
Did anybody on here get anything, I didn't and i was waiting over the keyboard I didn't and likewise I was waiting over the keyboard.
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Post by yorkshireman on Sept 28, 2015 21:33:44 GMT
ABL - can you let us know how many bidders it took to fill the £65K loan in what appears to have been <5 seconds? The answer (and any suggestion about remedial action) will govern whether I remain with this platform. I second that.
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Post by ablrateandy on Sept 28, 2015 21:57:05 GMT
I am not sure whether to apologise or not. 17 investors got filled (one person was in for a substantial amount).
This, for me personally and professionally, is a very difficult situation to manage. 14% per year annually is, in my opinion, a very, very generous interest rate for investors. Before I had even said that I would do a trade, I had nearly £1mio in commitment. This then leaves me in a dilemma - do I cut the interest rate or increase the size?
Unfortunately, if I cut the rate then I do lenders a disservice because the borrower is happy to pay the rate. If I increase the size then I have sleepless nights over how much dealflow the client can do at this level of profitability.
My priority is to achieve a deal size that maintains maximum security and unfortunately that has led to a fastest finger first. If people are willing to buy at a lower rate then I am sure that some loans will be offered at 12 or 13% tomorrow morning and these will be paid with accrued interest etc.
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jimbob
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Post by jimbob on Sept 28, 2015 21:57:52 GMT
I remembered about the loan at 8:03, which was 2 minutes 57 too late :S
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