pom
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Post by pom on Jan 17, 2017 11:13:47 GMT
Just for the record, i didn't receive the email yesterday but I've just got the one sent this morning me too
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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New Loan
Jan 17, 2017 18:03:03 GMT
via mobile
Post by ilmoro on Jan 17, 2017 18:03:03 GMT
Further update email. Goes live 10.30 tomorrow
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 17, 2017 18:11:19 GMT
Errrr, do I need a new calculator and/or brain, have I got this wrong? This Loan seems to be 77.3% LTV, notwithstanding the PGs and Xg'tees, and it's a 2nd Charge, with the Mortgage I assume being the 1st Charge. Jeeeez, it might be 14%, and amortising, but anything can happen in four years, and probably will. IMHO.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 17, 2017 18:38:17 GMT
Further update email. Goes live 10.30 tomorrow ilmoro , thanks for the heads up, do ablrate give reason for the delayed launch? Thanks. Final details being ironed out
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stevio
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Post by stevio on Jan 17, 2017 19:19:37 GMT
ilmoro , thanks for the heads up, do ablrate give reason for the delayed launch? Thanks. Final details being ironed out Still looking as 77% LTV I doubt there will be a reply before launch, but ablrate could you explain the high LTV?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 17, 2017 21:01:14 GMT
Of course, with one or more other Platforms using smoke, mirrors & subterfuge to create artificial and misleadingly Low LTVs (they know who they are), ABLrate might just be ruthlessly honest in this respect.
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blender
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Post by blender on Jan 18, 2017 10:34:51 GMT
Thar she blows!
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Post by doorway on Jan 18, 2017 11:45:00 GMT
The company income seems to be declining, in line with the PPI reclaim market. The 2015 company income would bearly cover the repayments on this loan, before directors or shareholders receive ANY payment.
Who is the parent company ? (where details might have been in the proposal, we are refered back to the borower details).
What are the funds to be spent on ? Mining a declining resorce.
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blender
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Post by blender on Jan 18, 2017 12:07:40 GMT
Very expensive when you add in the payments to Ablrate. I will help it along, but will not expect to hold to term.
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registerme
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Post by registerme on Jan 18, 2017 12:08:43 GMT
It might be an interesting hedge against miss-sold P2P loans .
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 18, 2017 12:14:51 GMT
The company income seems to be declining, in line with the PPI reclaim market. The 2015 company income would bearly cover the repayments on this loan, before directors or shareholders receive ANY payment. Who is the parent company ? (where details might have been in the proposal, we are refered back to the borower details). What are the funds to be spent on ? Mining a declining resorce. Parent company is in the proposal in the docs (LPG) Targetted marketing see P8 of proposal
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registerme
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Post by registerme on Jan 18, 2017 12:17:00 GMT
I think I've seen this company on another platform. Just doing some digging......
EDIT: No, I haven't, but there's a loan on AC to a company call R** S*** F******** in exactly the same line of business, with an almost identical proposal. It paid 11% though.
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Post by ablrate on Jan 18, 2017 12:19:53 GMT
The company income seems to be declining, in line with the PPI reclaim market. The 2015 company income would bearly cover the repayments on this loan, before directors or shareholders receive ANY payment. Who is the parent company ? (where details might have been in the proposal, we are refered back to the borower details). What are the funds to be spent on ? Mining a declining resource. "The 2015 company income would bearly cover the repayments on this loan, before directors or shareholders receive ANY payment" Its important on here that we are clear when making statements. Income was £2.5 million. Net profit is what you may be referring to. I.e AFTER director salaries, etc etc - As per the Credit Report on page nine there is a group structure. - As per page 4, page 7 and page 8. The purpose of fund are comprehensively explained. Regards Ablrate
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Post by ablrate on Jan 18, 2017 12:21:26 GMT
There are details in the documentation of new markets and ways to more effectively and efficiently 'mine' existing markets with, apparently, significant cost savings to the borrower. PS: Borrower is F******** R******* S********, parent is L*** P*** G**** Moderator will chip in here... need to redact those names...
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registerme
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Post by registerme on Jan 18, 2017 12:27:25 GMT
I think I've seen this company on another platform. Just doing some digging...... Definitely was another PPI company with it's hand out recently but the loan proposal on this one (new lead generation doodah) doesn't ring a bell. You're right, it's not precisely the same - the AC borrower wants to exploit more leads in-house rather than sell them on. The abl borrower wants to convert new leads more effectively. I think though that it nets out at roughly the same thing.
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