southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Jun 1, 2018 15:19:23 GMT
Ly are not doing themselves any favours. At a time when they should be doing everything possible to keep/attract money to the platform the interest payments are getting worryingly later each month, not good PR.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on May 18, 2018 6:04:21 GMT
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on May 18, 2018 4:52:12 GMT
I'm not that well up on tax issues, however, I would have thought that as Col went into administration in the 2017-2018 tax year and the likelyhood is that there will be a haircut which is greater than interest earned during that tax year that there would be no profits earned therefore no tax payable?
Could someone more knowlegable than me please tell me if this is the case and if not why?
Thanks in advance.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on May 4, 2018 9:28:30 GMT
At last!!! 28 minutes. Very very frustrating.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on May 4, 2018 9:06:09 GMT
And here we go again on #102- managed to get a piece for my ISA but now getting deadlocks etc for my main account...failed 3x so far.... Lucky you. I can't get anything.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Apr 29, 2018 4:47:46 GMT
Is it just me, or is the Abl website glacial this evening? Half of the pages i'm trying to open time-out with an error message whilst some open up instantly. In particular, I'm having trouble trying to open any SM pages and just get an 'unexpected error' message under a picture of a smashed up car! I'm having the same problem now, especialy when trying to access the SM through 'current investments/trade' Edit: It seems I can get to the secondary market now but when I click a 'Trade' button it times out and I get the car crash error.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Apr 28, 2018 9:55:28 GMT
Excluded again . I really can't understand why Ablrate would want to make loans live outside working hours. I would have thought the ideal solution woud be to make the loan viewable 24 hours before launch and then launch it within working hours (9-5). I can't see anyone having a problem with that and nobody would be excluded. Is there some reason loans need to go live at 8pm ablrate ? The launch time is irrelevant providing the loan doesn't fill too quickly. I'll also be unable to place a bid until a few hours post-launch this time. Normally I am unable to place bids during working hours and evenings work well for me. This is true, however, all of the loans which have been launched at 8pm so far have filled within a couple of hours. I have a feeling, with this being a new borrower, that this loan will fill quickly also. Depends on the proposal of course. Maybe some sort of pledging system or pre-funding similar to Lendy would be the fairest way to do it? Might be a lot of work for Ablrate though...
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Apr 28, 2018 3:36:32 GMT
Excluded again . I really can't understand why Ablrate would want to make loans live outside working hours. I would have thought the ideal solution woud be to make the loan viewable 24 hours before launch and then launch it within working hours (9-5). I can't see anyone having a problem with that and nobody would be excluded. Is there some reason loans need to go live at 8pm ablrate ?
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Apr 10, 2018 9:35:57 GMT
Not really. Nothing can happen until the court case at the end of this month. Many thanks archie , I won't bother to waste time going back through the comments then Page 97 is worth a read.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Mar 22, 2018 6:44:04 GMT
I find it a little strange that there is very good, if not an odds on dead cert chance that investors will see a capital loss from this loan. I was under the impression that it was 8% because it was a lot lower risk than the 12% offerings? If the lower risk loans are realising a 30% capital loss what is going to happen to the rest of the loan book?? Don't answer that it was a rhetorical question. The lower rates were about higher profit margin and nothing to do with lower risk. Yes, but that's not what Lendy said.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Mar 22, 2018 6:35:06 GMT
I find it a little strange that there is very good, if not an odds on dead cert chance that investors will see a capital loss from this loan. I was under the impression that it was 8% because it was a lot lower risk than the 12% offerings? If the lower risk loans are realising a 30% capital loss what is going to happen to the rest of the loan book?? Don't answer that it was a rhetorical question.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Mar 22, 2018 6:11:00 GMT
That's two in a row at 8pm. If this turns out to be the norm the only loans I'll be able to invest in will be the ones nobody else wants. It's a shame as I realy like Ablrate but I aint getting up at 3am, maybe have to look elsewhere for an IFISA.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Mar 15, 2018 2:10:38 GMT
Yes it is a high risk loan, but all P2P loans are high risk. This loan cannot be compared with the castle as it is for development land which has planning permission for student accomodation with a GDV of 29 mil, the castle seemed to be a bit of a stab in the dark. I am fully aware of the problem with valuations but this site has as good a chance of realising 5 mil + at auction as most other P2P loans have of realising their reported values. I still think this is a good loan by P2P standards but in the current climate I think most property/development loans are going to suffer from underfunding. My worry is that they can't obtain finance, the appetite from p2p to fund these type of loans has evaporated! Then how does the borrower repay the loan? Then who else is going to buy land they can't get finance on? Hence you could see a massive loss. It could also work out, because t I don't think many are prepred to risk their money. Good luck, I hope it all works out for you. Yes this is also my worry which has been compounded by the lack of support for this loan and the ever increasing list of DFL tranches languishing on the SM. The risk in investing in P2P, property loans especialy, seems to be getting higher and higher at the moment and if investment is not found from somewhere there could be a lot of losers. Maybe some big repayments would help the situation but I can't see that happening any time soon.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Mar 15, 2018 1:30:12 GMT
The actual size of the plot doesn't make a lot of diference to the valuation. If you read the post by SteveT which I have linked here he explains the valuation process very well. I have also attached a copy an the RICS information paper for the valuation of development land (granted it's from 2008 but I think it's still relevant) which may also help. First do you believe the valuation? How would the valuation hold up in an auction/default senario(see castle)? The valuation is also ok in theory but a lot of things can go wrong. Make no mistake, this is a high risk loan, even by Lendy standards. The take up. despite 2% cash back, shows how unappealing this loan is. Yes it is a high risk loan, but all P2P loans are high risk. This loan cannot be compared with the castle as it is for development land which has planning permission for student accomodation with a GDV of 29 mil, the castle seemed to be a bit of a stab in the dark. I am fully aware of the problem with valuations but this site has as good a chance of realising 5 mil + at auction as most other P2P loans have of realising their reported values. I still think this is a good loan by P2P standards but in the current climate I think most property/development loans are going to suffer from underfunding.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Mar 15, 2018 0:57:43 GMT
on the face of it looks like a good loan You're joking ? Would you pay £10.4m (or even £5.2m) for a 0.89 acre plot at auction ? If/when this defaults you can guarantee substantial loss. The actual size of the plot doesn't make a lot of diference to the valuation. If you read the post by SteveT which I have linked here he explains the valuation process very well. I have also attached a copy an RICS information paper for the valuation of development land (granted it's from 2008 but I think it's still relevant) which may also help. 12_ValDvpmtLand_2008.pdf (198.55 KB)
|
|