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Post by fatbritabroad on Feb 8, 2018 11:41:22 GMT
Quick question for the novice here please
I currently put minimal amounts into each loan 250 max.
Am I correct that these portfolio loans both single and portfolio are diversified and as such can warrant a higher deposit? I want to make sure I understand before committing a larger sum (thought still one I am prepared to ultimately lose accepting none of this is guaranteed
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Post by ablrate on Feb 8, 2018 11:54:28 GMT
Quick question for the novice here please I currently put minimal amounts into each loan 250 max. Am I correct that these portfolio loans both single and portfolio are diversified and as such can warrant a higher deposit? I want to make sure I understand before committing a larger sum (thought still one I am prepared to ultimately lose accepting none of this is guaranteed Th Single Company Portfolio Loan is to one entity, however, as the document will explain the underlying transactions are diversified - so its a little bit of hybrid
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macq
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Post by macq on Feb 8, 2018 12:07:38 GMT
as M**'s web site mentions the Asian fund giving them a funding line why do they need additional money? Also is there a viewing window on this loan to read the doc's?
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elliotn
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Post by elliotn on Feb 8, 2018 12:52:13 GMT
as M**'s web site mentions the Asian fund giving them a funding line why do they need additional money? Also is there a viewing window on this loan to read the doc's? Also, check out the charge Santander took last year (and the millions already borrowed in the original loan launch details), hopefully the joint venture will go some way to repairing this balance sheet. On mobile so haven’t checked docs yet.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 8, 2018 13:34:28 GMT
You're one sharp Mother elliottm. (Thumbs up emoticon here)
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Post by Deleted on Feb 8, 2018 13:54:24 GMT
The email from David B-W does he mean the interest will be 8% or it will it be of much higher returns than 8%? I guess the next few minutes will tell.
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boundah
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Post by boundah on Feb 8, 2018 13:58:35 GMT
The email form David B-W does he mean the interest will be 8% or it will it be of much higher returns than 8%? I guess the next few minutes will tell. I'm guessing as it looks like we won't have time to investigate before go-live: if I understand correctly we lend at 8%. Ablrate lend to MTF at 12%. They lend on to final borrowers at ??%. Not sure what extra security we get for the comparatively low rate apart from diversification. But... I may be wrong.
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mullet
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Post by mullet on Feb 8, 2018 14:06:02 GMT
I don't see any loan - did I miss something?
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IFISAcava
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Post by IFISAcava on Feb 8, 2018 14:06:45 GMT
I don't see any loan - did I miss something? someone missed 2pm
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Post by ablrate on Feb 8, 2018 14:06:55 GMT
I don't see any loan - did I miss something? Its coming.. little bit of tech we think will display better being uploaded.
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Post by ladywhitenap on Feb 8, 2018 14:09:57 GMT
I don't see any loan - did I miss something? Its coming.. little bit of tech we think will display better being uploaded. And what happened to the advanced information that was promised pre-launch. Sorry ABL but you don't seem the be learning what we lenders want from you. LW
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Post by ablrate on Feb 8, 2018 14:13:14 GMT
Hi
We had a number of final things we wanted to do in the doc, so it was either delay or launch on the day so we chose to launch as the facility is, however, £5 million over 5 years - so there will be plenty of time to review.
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blender
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Post by blender on Feb 8, 2018 14:16:28 GMT
The email form David B-W does he mean the interest will be 8% or it will it be of much higher returns than 8%? I guess the next few minutes will tell. I'm guessing as it looks like we won't have time to investigate before go-live: if I understand correctly we lend at 8%. Ablrate lend to M** at 12%. They lend on to final borrowers at ??%. Not sure what extra security we get for the comparatively low rate apart from diversification. But... I may be wrong. No, Ablrate are not an intermediary. We lend to the borrower at 8% annual interest, paid monthly. Ablrate lends nothing to the borrower but takes some or all of its fees as a monthly percentage of the outstanding principal - at least 0.33% pm. We will need to see the detail in the loan info.
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bg
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Post by bg on Feb 8, 2018 14:17:48 GMT
My biggest complaint about ABL (and the reason I do not have a much larger investment) is that everything is always so verbose and overly complicated.
On the page explaining what a portfolio loan is I would expect it to start with a simple explanation of what it actually is, instead the first two sentences say:- "This new product for lenders and borrowers extends the flexibility that Ablrate offers, to both. Enhanced access to funds for lenders and automated allocation, coupled with flexible rolling lending facilities for borrowers, makes this type of loan a very popular choice for our community."
This is not exactly clear, why not say something like:- "Investments in this product will be split across a pool of loans from a given company paying the lender 8%"
That's me assuming the rate is 8% because its not 100% clear to me what the rate is supposed to be.
This doesn't just apply in this instance. I generally find on ABL that I start looking at a loan and after the first couple of paragraphs I start losing interest as I can't understand the basics of the loan through all the waffle. Perhaps it's just me as I know some lenders love the ABL style but for me there are great benefits in being concise, certainly in a general loan/product description.
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boundah
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Post by boundah on Feb 8, 2018 14:17:55 GMT
Hi We had a number of final things we wanted to do in the doc, so it was either delay or launch on the day so we chose to launch as the facility is, however, £5 million over 5 years - so there will be plenty of time to review. Suggested flowchart: Finalise documents > Pre-announce > Give review window > Go-live
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