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Post by Deleted on May 6, 2017 17:19:01 GMT
Can anyone give a gut feeling as to how often AR offer up new non-property loans (one a month, one a week)?
Is competition fastest-finger or crazy?
How is their debt recovery process, successful?
Loans are dated, are they controlled to those dates or do they just drift pass?
Any other advice you can offer?
Many thanks
Bobo
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jonah
Member of DD Central
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Post by jonah on May 6, 2017 17:55:53 GMT
Can anyone give a gut feeling as to how often AR offer up new non-property loans (one a month, one a week)? Is competition fastest-finger or crazy? How is their debt recovery process, successful? Loans are dated, are they controlled to those dates or do they just drift pass? Any other advice you can offer? Many thanks Bobo Some FFF, i.e. A recent loan was seconds. 2x loans defaulted, various legal proceedings ongoing. So far, sticks to dates pretty much. My view, they offer more varied loans and higher rates than MT or similar, but probably higher risk for at least some of them. They provide good levels of info on loans as they go live, but for small ones there isn't time to read it if you want a piece. Some hiccups on previous loan details, but the management are pretty open to feedback. My smallest platform but that is in part due to the tax complexity of instant returns. If the offered an isa at a low management fee, I'd use it.
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archie
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Post by archie on May 6, 2017 17:58:35 GMT
Only been with them since Xmas.
FFF and no bid limits but loans seem to hang around for a while usually.
Maybe once a month for non-property loans.
I quite like the platform, it's currently my third largest platform in terms of investment.
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SteveT
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Post by SteveT on May 6, 2017 18:54:45 GMT
To be fair, there's been only 1 loan I can think of in recent months that filled FFF. Most last at least hours, if not days / weeks. However a £100k 1st charge loan at 14% was never going to hang around when you factor in the opportunity to sell some of it on at a premium.
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elliotn
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Post by elliotn on May 7, 2017 1:06:23 GMT
Can anyone give a gut feeling as to how often AR offer up new non-property loans (one a month, one a week)? Is competition fastest-finger or crazy? How is their debt recovery process, successful? Loans are dated, are they controlled to those dates or do they just drift pass? Any other advice you can offer? Many thanks Bobo - loans are pretty irregular, say 1-3 a month, non-prop varies; - 14%ers can go quickly  - loans have been good although there may have been a delayed plane(?) and read the thread on here about legal entanglements of a missing shipment of containers; - loans are typically long dated, none that I have are close to end date (I find existing loan updates lacking and I have a few Q&As left unanswered); - plenty of commentary on here re SM, if you have any interest in reconciling to cash payments (or monthly interest earned instead of bought) this involves a manual process and lots of emails 
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on May 7, 2017 16:54:19 GMT
My confidence in the platform was destroyed by their carelessness over the containers. They said that they would be buying and owning the containers until a legal charge was in place. but they then handed over the cash with no security in place and the borrower took the opportunity to make off with the money. Despite this they say that it is lenders who will have to cough up. This may get tested in the Courts. To be fair they have made strenuous efforts to close the stable door after the horse has bolted, but this may be partly due to the doubt over who is legally in line to take the hit.
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Post by Deleted on May 8, 2017 11:32:41 GMT
Does this mean the portal itself is at risk?
Or do they have insurance?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on May 8, 2017 14:31:44 GMT
Does this mean the portal itself is at risk? Or do they have insurance? I doubt that it would bust the platform.
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elliotn
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Post by elliotn on May 8, 2017 15:25:34 GMT
Does this mean the portal itself is at risk? Or do they have insurance? I doubt that it would bust the platform. Totally from memory, were they about 2 * 30-35k? 🤔 Edit - see iren for actuals.
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iren
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Post by iren on May 8, 2017 16:23:18 GMT
I doubt that it would bust the platform. Totally from memory, were they about 2 * 30-35k? 🤔 £98,250 and £65,500. No capital repaid. Still no interim report from the receivers after several months.
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elliotn
Member of DD Central
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Post by elliotn on May 9, 2017 3:58:15 GMT
Totally from memory, were they about 2 * 30-35k? 🤔 £98,250 and £65,500. No capital repaid. Still no interim report from the receivers after several months. Thanks. So for the newbie's narrowest concern, hopefully 165k not immediately platform threatening.
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Post by elephantrosie on May 9, 2017 8:22:56 GMT
Hello all. I have just set up an account on ablrate few days ago.
How does ablrate fare on dealing with defaulted loans?
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elliotn
Member of DD Central
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Post by elliotn on May 9, 2017 8:31:08 GMT
Hello all. I have just set up an account on ablrate few days ago. How does ablrate fare on dealing with defaulted loans? One delayed loan fully repaid - plane? One incompleted loan in the courts (see containers thread). Most are sme loans backed by income generating assets/properties for 2 years plus with currently good interest payment records. Edit - ACF/APF are an introducer that assume credit risk on their loans whilst we are still assigned rights to the underlying asset (albeit that guarantee now covers a few loans).
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