KoR_Wraith
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Post by KoR_Wraith on Apr 26, 2021 13:17:12 GMT
Unfortuantely a lack of updates usually coincides with the slow pace of the law and situations outwith of Ablrate's control.
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KoR_Wraith
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Posts: 293
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Post by KoR_Wraith on Apr 26, 2021 13:13:22 GMT
Instant returns ... Evidently people were keen on the high interest rate and seemingly low LTV to a borrower with an excellent repayment record. For me, the risk of value collapse in the event of a default was too high to invest a meaningful amount.
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KoR_Wraith
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Posts: 293
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Post by KoR_Wraith on Apr 15, 2021 12:45:38 GMT
Good repayment record on first loan and quick to return back to amortising after COVID interest only period. I passed on the first offering but think I'll take some of this one.
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KoR_Wraith
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Post by KoR_Wraith on Dec 12, 2020 12:02:39 GMT
The real keys are surely... I had no idea that the EU was offering such a reasonable solution. This is 100% political posturing on the government's part with no consideration of anything beyond party politics. Such recklessness is mind-blowing.
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KoR_Wraith
Member of DD Central
Posts: 293
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Post by KoR_Wraith on Dec 11, 2020 18:38:02 GMT
Blimey, when have any of them ever been honest and done any of that captainconfident , all that "doing the right thing for the country" malarkey stopped with Thatcher didn't it? They're ALL crooks & shysters now. V surprised many haven't wound up in P2P tbh. Pre-Administration: "At 85% LTGDV, we've iron-clad security safeguarding against any capital loss*" *capital loss possible Year 1 of Administration: "It'll be the easiest valuation-achieving sale in history!" Year 2 of Administration: "Local agents continue to market the property" Year 3 of Administration: "Initial offer has fallen through, property continues to be marketed" Year 4 of Administration: "We have an oven-ready offer all lined up, just waiting on some documents from the lawyers" Year 5 of Administration: "We have accepted an offer for 25% of outstanding capital from the original borrower, which will return 8% capital to lenders after administrator and platform fees. Whilst obviously disappointed that we were unable to agree a valuation-level offer, we were clear from the start that this was never our goal; we are very optimistic for the future and will shortly be announcing a new loan in which to reinvest your repaid funds.
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on Nov 15, 2020 12:13:31 GMT
A year ago I remember the overriding view on this forum was pro-Brexit, how times have changed.
Note that the critics of Brexit have not changed, but tellingly its champions have all but fallen silent.
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on Oct 26, 2020 18:00:42 GMT
I was in a similar position a few months ago and settled on IG.com www.ig.com/uk/investments/share-dealing/costs-feesThe key thing is to trade 3+ times a month as this negates/minimises fees. After your first month of 3 trades, US shares can be traded the following month for free, so if you've no pressing buys or sells to make you can simply do a few US share buy/sell transactions free of charge to meet the requirements for the following month. Their FX fee is 0.5% but I personally think that's acceptable given the total package.
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KoR_Wraith
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Post by KoR_Wraith on Oct 17, 2020 21:23:20 GMT
ablrate - I've just attempted my first couple of trades and the results are not overly encouraging. Firstly, I tried to buy £1 worth of 100111 and received the error message 'You do not have enough funds to place this order.' (even though my funds are in excess of £650) - I've asked Customer Services to investigate. Secondly, I placed an offer to sell and subsequently noticed there does not appear to be any way to cancel the offer? In the first instance, did you "allocate" funds to the Loan Exchange before placing the order? This is done via the "Allocate Funds" button on the main Ablrate dashboard. To cancel an order, click on "Orders" located in the bottom left of the page, that'll show all unfilled orders with a cancel button on the far right.
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on Oct 17, 2020 10:21:03 GMT
Having read this in thread in full before trying the new platform, I actually found it worked much better than expected. Much more responsive to navigate than the old SM and painless to make some trades between my standard and ISA account.
As someone extremely familiar with the Ablrate loan book I found it easy to identify specific loans but I would not expect that to be the case for all users.
Certainly room for improvement, as noted in others' posts; sorting by Bid/Offer/Holding, fully readable Listing Title, include borrower name, add option to show more than 10 loans per page. I would prefer bids/offers were restricted to one decimal place, the multiple listings separated by 0.01% is needlessly tedious.
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on Oct 9, 2020 16:42:02 GMT
I took a quick look at BC today. Anyone know why their stats were last updated in July 2018? Doesn't give me much confidence. I don't know but I've had a couple of loans default with BC and have received 100% of capital and interest owed. I find their valuations quite down to earth and their small commentary on each loan to be well informed. They take no prisoners when it comes to borrower leniency, none of the nonsense that FS and Lendy got away with, I suspect because they are confident in the values of their securities. They mostly lend on established residential property so generally there's no 'development value' risk. Note that they are not technically P2P, you lend to Bridgecrowd and they lend to the borrower on your behalf - more detailed explanation in their FAQs. They've been my go-to platform for almost 2 years now.
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on Oct 8, 2020 15:12:29 GMT
I must say, I'm usually impressed by Ablrate's handling of distressed loans, however, it seems very odd to me that they've been unable to complete the airplane inspection over the summer. I accept that travel was very restricted at the start of summer but millions of people have flown for leisure over the last few months, so I don't understand why there's been so much difficulty arranging an essential in-person business activity.
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KoR_Wraith
Member of DD Central
Posts: 293
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Post by KoR_Wraith on Sept 29, 2020 21:51:55 GMT
Please do not make un confirmable insinuations ... if you have something to add, please explain why. There's another thread where a certain forum member attacked the concept of zero commission trading. I believe one example was that although such platforms don't charge upfront fees, they may not give you the best price for your buys/sells and so in that way generate income (commission). A bit like 0% foreign currency exchange. That's not to say Etoro is more expensive than traditional platforms, several factors eg. trade frequency, trade size, would affect the calculation - but it would be optimistic to think of Etoro as the same as a charging platform minus all the fees. I personally use IG.com and Degiro.com. IG for my ISA and US trades, Degiro for UK trades. I can't say for sure if this is the absolute cheapest or best approach, but I'm comfortable with the setup.
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on Sept 24, 2020 15:48:39 GMT
Just a heads up that multiple loans have had admin notes posted in the last 24 hours without email alerts being issued (at least not to me).
Most of the admin notes are relatively unremarkable but worth checking your held loans.
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on Sept 24, 2020 10:34:52 GMT
Are you saying you hold all the cards? Absolutely not; monies and economic support/diversification would hugely smoothen Scotland's path to stability and prosperity over the next 20 years! I voted against Scottish independence, whilst I believed it may well pay off in the long term there would be huge short term costs and uncertainties. However, in 2014 the UK had a seemingly responsible and relatable government, I haven't felt this to be the case these last few years. As such I'm now firmly on the fence.
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KoR_Wraith
Member of DD Central
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Post by KoR_Wraith on Sept 24, 2020 9:53:32 GMT
It's fine by my - one step closer to full Londependence. Take back control of London, regain our sovereignty (etc, etc). Post-independence Scotland will be happy to agree to unification with the Greater London Republic in order to shore up Scotland's questionable economic situation. In return, we'll build a pipeline to transport our excessive fresh water resource to London during your increasingly regular summer droughts. Additionally, as global warming continues to make London summers uncomfortably warm and Scottish summers comfortably warm, Scotland will purpose-build luxury accommodations (I believe MoneyThing have an ideal site available) for those Londoners wishing to eliminate the risk of bumping into Jacob Reese-Mogg whilst holidaying 'domestically'. Needless to say, the abolishment of Westminster, expulsion of the EDL current Conservative party and the founding of a new fit for purpose 21st-century political system will be pre-requisite for such negotiations to move forward.
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