SteveT
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Post by SteveT on Feb 4, 2016 7:14:58 GMT
But why leave uninvested money on the platform? Ablrate's withdrawal process is swift (typically 24-48 hours) and transferring cash in is instant via debit card. I keep my cash float in my bank account and deploy it wherever needed for new opportunities (MT and FS last week, AC this week, fingers crossed, maybe even SS again soon...). I'm sure Ablrate will have some good loans soon but these things take the time they take.
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james
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Post by james on Feb 4, 2016 9:12:54 GMT
Exchange rate costs. Not all investors are Pound-based. That means both foreign exchange costs and delay in moving money in and out.
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gt94sss2
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Post by gt94sss2 on Feb 4, 2016 14:55:34 GMT
While we wait for the next Container Transaction, can I express my disappointment that your email on 28/1 indicated that this is likely to be the last such loan.
Instead, you indicated that Ablrate hoped to bring a larger 5 year loan with interest paid at maturity to the platform.
Quoting the email
Yes, the indicative interest rate quoted is good but paying all interest at maturity will lead to it all been taxed in year 5.
I know you say several lenders have approached you in favour of this and its ideally suited for those with a SIPP - but please don't forget the rest of your investor base who don't have SIPPs etc. I know you have a secondary market but rolling up the interest would also make it difficult for unsophisticated investors (most of us!) to take account of any rolled up interest when buying/selling this loan on the SM.
I would much prefer either shorter dated loans - say for 1 year - or a 5 year loan with annual interest and an option to rollover the loan each year for existing investors as Moneything do on their managed portfolios every 6 months - even if it means accepting an interest rate that is slightly lower than originally suggested.
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Post by ablrateandy on Feb 4, 2016 15:44:59 GMT
We have a few shorter things coming up as well, but in this case it looks like the borrower wants to lock in the certainty of finance so it was a "use it or lose it" situation. We're just awaiting a confirmation from him.
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gt94sss2
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Post by gt94sss2 on Feb 4, 2016 16:13:23 GMT
We have a few shorter things coming up as well, but in this case it looks like the borrower wants to lock in the certainty of finance so it was a "use it or lose it" situation. We're just awaiting a confirmation from him. ablrateandy - Thanks for the reply. I can appreciate that the borrower wants to secure the finance long term and I have no problem with that. Its more about how Ablrate propose to package/market the loan on the platform. For instance, if you offered it as a 5 year loan but with annual interest and ideally an option to "roll-over" the loan each year that would increase liquidity and simplify the tax concerns most investors would face. It wouldn't cost you more in interest either - as you could offer a slightly lower rate to reflect that you are not rolling it upuntil the end.
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james
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Post by james on Feb 4, 2016 19:29:49 GMT
Yes, the indicative interest rate quoted is good but paying all interest at maturity will lead to it all been taxed in year 5. Have a look at the posts in Deeply discounted securities.
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blender
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Post by blender on Feb 5, 2016 17:15:08 GMT
Oops. Sorry - on the details I fully expect the 65.5k 6 month on Wednesday but await borrower confirmation. On the longer one I am awaiting HMRC to call me on a technical issue. I will update as soon as I have perfect clarity. The longer one will ask for indications of interest as soon as I hear back from the kindly tax people. As the week draws to close with Wednesday a distant memory, how about an update on this please, Andy?
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jonah
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Post by jonah on Feb 7, 2016 14:58:49 GMT
ablrate ablrateandyGood news on the email front. It does raise a key point... can you please have some form of unique reference for your loans? Trying to work out if I had money in the one mentioned in that second paragraph with just the information in that paragraph was harder than it should be, especially as on the secondary market screen you show the end dates, but not start dates for each loan. It would also help with the suggested raising in the frequency of new loans. Even a 2016-1, 2016-2 etc would be nice. I think I have a small slice of the existing loan, but am still not 100% sure. As for more crates, you know the appetite for those, so that shouldn't be an issue selling the next 6th months... I hope that the suggested tweaks to the prefunding process are included in this batch and it's as smooth as it can be. More details on the longer term process are going to be key from my perspective, I don't know enough to work out the tax implications for example. The suggested new line on engine loans sounds worth looking forward to, depending on the interest rates of course. Seeing another regular line of different loans on Ablrate would be good as I for one do have concerns over the longer term stability based on loan generation. So that could help there. All in all, a positive update.
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Post by ablrateandy on Feb 7, 2016 15:01:36 GMT
Thanks jonah. We'll bear in mind as should be easy to do. We are in the middle of a LOT of website stuff at the moment so it won't make this batch. blender - containers is all agreed. Now all we have to do is get four people in the same city at the same time to hammer out a last detail. That is proving remarkably difficult! Should be early this week (he says again!). Even if not, I will try to get consensus to warm up lenders "subject to legal completion".
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stevio
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Post by stevio on Feb 7, 2016 15:48:30 GMT
ablrateandyYou maybe aware there are 2x SS loans launching Monday Due to the drought, I have some funds I want to invest. I would like to hold back some of the money I would have invested in the SS loans, for your loans in your recent email. But could you give a bit more of a definitive launch date than 'coming next week'? Just if I hold back on the SS loans and
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Post by ablrateandy on Feb 7, 2016 15:55:56 GMT
We try not to commit until certain but long containers likely drawdown 28Feb then monthly for six months. Short containers I am pushing the borrower. ablrate may be able to give flying things colour.
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Post by ablrate on Feb 8, 2016 9:12:51 GMT
ablrateandy You maybe aware there are 2x SS loans launching Monday Due to the drought, I have some funds I want to invest. I would like to hold back some of the money I would have invested in the SS loans, for your loans in your recent email. But could you give a bit more of a definitive launch date than 'coming next week'? Just if I hold back on the SS loans and Hi Stevio We are aiming to have the aircraft loan launch this afternoon and convert the other loan tommorrow. Regards Ablrate
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pom
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Post by pom on Feb 8, 2016 14:23:03 GMT
ablrateandy You maybe aware there are 2x SS loans launching Monday Due to the drought, I have some funds I want to invest. I would like to hold back some of the money I would have invested in the SS loans, for your loans in your recent email. But could you give a bit more of a definitive launch date than 'coming next week'? Just if I hold back on the SS loans and Hi Stevio We are aiming to have the aircraft loan launch this afternoon and convert the other loan tommorrow. Regards Ablrate Are you any closer to having a time for "this afternoon" yet? Ta..
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SteveT
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Post by SteveT on Feb 8, 2016 14:29:53 GMT
And can you please avoid the scenario we had last time where people were transferring in very large sums to game the allocation system and then transferring most of it straight out again (debit card fees alone must dictate against that!). Better just to set a maximum figure per lender (that you're confident will be covered by bids) and ignore any sum in excess of this.
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treeman
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Post by treeman on Feb 8, 2016 18:28:35 GMT
I see the original loan is now 'paused' - any updates re going live tomorrow ablrate ablrateandy ?
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