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Post by ablrateandy on Aug 29, 2016 23:32:53 GMT
Clearly I have a vested interest, but if you bear that in mind...
I have a massive hatred of paperwork but once it was done, Brian was great. I have never had a problem with the admin chaps at Greyfriars and money has always moved quickly. I've been pretty impressed.
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Post by ablrateandy on Aug 26, 2016 23:14:00 GMT
Yes. It takes into accounts premiums (premia?) and discounts correctly
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Ablrate (ABL) in Administration
SM Problem
Aug 20, 2016 21:13:41 GMT
via mobile
Post by ablrateandy on Aug 20, 2016 21:13:41 GMT
Oh and the Secondary Market overview page doesn't show your own bids and offers for the same reason.
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Ablrate (ABL) in Administration
SM Problem
Aug 20, 2016 21:11:47 GMT
via mobile
Post by ablrateandy on Aug 20, 2016 21:11:47 GMT
Your own bids are greyed out but will look normal to other users. It's a reminder that you can't sell to your own bid.
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Ablrate (ABL) in Administration
Newbe questions
Aug 20, 2016 16:27:46 GMT
via mobile
jnm21 likes this
Post by ablrateandy on Aug 20, 2016 16:27:46 GMT
We generally don't have a minimum per loan although if your behaviour led us to think that maybe p2p was not for you then we may quiz you! (We have one lender who keeps investing and withdrawing pennies and he is close to a call!)
I'd say most people do £100-500 on their first loan to test the water. If you wanted to try a smaller amount it's not a problem at all and we are always happy to help.
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Post by ablrateandy on Aug 19, 2016 22:16:00 GMT
The container loan is still subject to proceedings. We are doing our best to balance everything and we will keep lenders updated as and when we can.
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Post by ablrateandy on Aug 12, 2016 22:48:58 GMT
Rowing and cycling are the two sports that animate me. Great opening week!
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Post by ablrateandy on Aug 10, 2016 22:38:49 GMT
And indeed, I still retain some of my trader mentality - better to take the hit, move on and look for the next thing to earn a return from.
In the olden days of banking, investment banks had a "back book" where mark-to-market didn't matter and it was all about the long term return. The back book could survive the ups and downs of markets. Maybe the mentality of P2P lenders is more similar to that long-term view? I would certainly hope so and see it as one way that P2P can supplement traditional finance.
**Crosspost with Pikestaff**
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Post by ablrateandy on Aug 10, 2016 21:48:50 GMT
**Personal view**
It's worth bearing in mind that when banks were dumping property portfolios in 2009-2012, they were selling at very large markdowns - anecdotally I know of salesmen willing to take 50% of "value" when selling property assets in order to get cash through the door. This is because banks just wanted to de-risk and were willing to take the hit.
P2P is a different situation and the question is whether lenders are willing (or can be compelled) to hang on for longer to avoid fire sales. I'd certainly be more concerned on sites that don't allow me to sell out at a discount, simply because if I can only sell at face value there may be no exit for a long, long time unless someone very naive comes to buy me out.
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Post by ablrateandy on Aug 10, 2016 21:13:49 GMT
Oh and sorry to be flippant - we are still working hard on this and should update the info on this loan early next week.
If I didn't have the chance to give a wry smile I'd cry.
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Post by ablrateandy on Aug 10, 2016 21:12:21 GMT
If they are in a dive, there's a problem!
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Post by ablrateandy on Aug 10, 2016 20:48:27 GMT
If anybody knows the flight speed of an unladen Chinese shipping container, please PM me.
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Post by ablrateandy on Aug 10, 2016 13:02:04 GMT
There is a substantial amount of excess spread in the lending activities of MTF. So, if for example they are borrowing at 1% a month, they will typically be lending at an average of 2.5% or so. This excess spread is captured in the funding vehicle, so that it acts as a buffer against individual losses on transactions.
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Post by ablrateandy on Aug 8, 2016 20:34:28 GMT
Also note that that would be illegal nowadays
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Post by ablrateandy on Aug 8, 2016 16:42:00 GMT
Sorry yes - will clarify on email tomorrow!
I have presented two options to the borrower :
1. 200k now by itself
or
2. 200k now, 50k when MSN532 repays
We also have a couple of larger lenders looking at it that could change the size. Once those moving parts are sorted I will define a final size!
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