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Post by Ace on Sept 10, 2020 21:07:09 GMT
Why don't Ablrate do the obvious, if the loan is to definitely go live, but not in the foreseeable future. Get Mr F to pay the interest to date. Ablrate said earlier that the instant returns are deducted from the loan amount sent, so I assumed it's continuing was to try and get a 'clean' million. Just looks to me that it is just increasing enough to keep pace with the additional instant returns so rather pointless really. I am assuming the money is just 'sat in a draw' somewhere currently but may be wrong in that. It crossed the million mark on 1st Sept and has added over £53k since. So, at roughly £10,833 "instant returns" per month its doing rather better than treading water.
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blender
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Post by blender on Sept 10, 2020 21:18:31 GMT
The first million is always the most difficult.
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Post by Badly Drawn Stickman on Sept 10, 2020 21:21:58 GMT
Ablrate said earlier that the instant returns are deducted from the loan amount sent, so I assumed it's continuing was to try and get a 'clean' million. Just looks to me that it is just increasing enough to keep pace with the additional instant returns so rather pointless really. I am assuming the money is just 'sat in a draw' somewhere currently but may be wrong in that. It crossed the million mark on 1st Sept and has added over £53k since. So, at roughly £10,833 "instant returns" per month its doing rather better than treading water. I did confess to not having done the sums. Undoubtedly many ways to look at it. It could be argued from your figures that 20% of the increase is being 'lost' as instant returns assuming the loan is not being utilized (which I am simply assuming is the case until it is accepted). Maybe swimming against the tide?
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criston
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Post by criston on Sept 10, 2020 21:29:52 GMT
Where does the instant returns come from, if the loan does not proceed then ?
We could be looking at around £40k to date, I reckon.
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Post by Ace on Sept 10, 2020 21:34:10 GMT
It crossed the million mark on 1st Sept and has added over £53k since. So, at roughly £10,833 "instant returns" per month its doing rather better than treading water. I did confess to not having done the sums. Undoubtedly many ways to look at it. It could be argued from your figures that 20% of the increase is being 'lost' as instant returns assuming the loan is not being utilized (which I am simply assuming is the case until it is accepted). Maybe swimming against the tide? It's closer to 7% since the £53k was over 10 days. So the tide is rather weaker than you imagined. I'm happy to let it drift a bit longer as we're swimming in the shallow end until it draws 😀
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tommo
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Post by tommo on Sept 10, 2020 21:41:26 GMT
Where does the instant returns come from, if the loan does not proceed then ? We could be looking at around £40k to date, I reckon. Ablrate have previously advised that regardless of whether the loan is drawndown or not, the instant returns are paid by the borrower via a legally binding agreement when they list the loan.
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Post by Badly Drawn Stickman on Sept 10, 2020 21:42:51 GMT
I did confess to not having done the sums. Undoubtedly many ways to look at it. It could be argued from your figures that 20% of the increase is being 'lost' as instant returns assuming the loan is not being utilized (which I am simply assuming is the case until it is accepted). Maybe swimming against the tide? It's closer to 7% since the £53k was over 10 days. So the tide is rather weaker than you imagined. I'm happy to let it drift a bit longer as we're swimming in the shallow end until it draws 😀 Did wonder if that would sneak past. I would actually say investors are sitting on the beach in deckchairs eating ice cream. Its the borrowers position I don't understand.
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Post by df on Sept 10, 2020 22:12:55 GMT
It's closer to 7% since the £53k was over 10 days. So the tide is rather weaker than you imagined. I'm happy to let it drift a bit longer as we're swimming in the shallow end until it draws 😀 Did wonder if that would sneak past. I would actually say investors are sitting on the beach in deckchairs eating ice cream. Its the borrowers position I don't understand. I didn't understand it from the outset. It was obvious that raising 2.5m from ABL investors is unrealistic.
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blender
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Post by blender on Sept 21, 2020 16:45:30 GMT
Where does the instant returns come from, if the loan does not proceed then ? We could be looking at around £40k to date, I reckon. Ablrate have previously advised that regardless of whether the loan is drawndown or not, the instant returns are paid by the borrower via a legally binding agreement when they list the loan. Interesting. If the loan draws down then I calculate approx. £33k in instant returns and £30k in platforms fees. These get subtracted from the sum advanced, but however you calculate it the proceeds will now exceed the £1m presumably required, while the sum is crawling up slowly and the borrower is incurring an extra £356 a day in IR without having the use of the funds. Perhaps they don't want it. I am looking for a card to send congratulations on reaching 6 months, on Thursday.
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criston
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Post by criston on Sept 22, 2020 14:05:44 GMT
Got to be some hidden strategy.
Such as waiting to see where the £415k from 146 ends up.
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Post by ladywhitenap on Sept 22, 2020 15:05:37 GMT
Got to be some hidden strategy. Such as waiting to see where the £415k from 146 ends up. I emailed David asking for something to be included in the last video update but got no reply and nothing got said in the video either. I realise AF is a "special" customer of ABL but some news would be good. There as talk months ago of other AF loans being repaid early as part of some scheme but nothing heard on that either. LW
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criston
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Post by criston on Sept 22, 2020 15:19:32 GMT
Got to be some hidden strategy. Such as waiting to see where the £415k from 146 ends up. I emailed David asking for something to be included in the last video update but got no reply and nothing got said in the video either. I realise AF is a "special" customer of ABL but some news would be good. There as talk months ago of other AF loans being repaid early as part of some scheme but nothing heard on that either. LW The notes still show redemption figures requested back in February on the loans you refer to, yet today we have notification that the same loans are changing to interest only for a limited period.
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Post by df on Sept 22, 2020 15:37:37 GMT
Ablrate have previously advised that regardless of whether the loan is drawndown or not, the instant returns are paid by the borrower via a legally binding agreement when they list the loan. Interesting. If the loan draws down then I calculate approx. £33k in instant returns and £30k in platforms fees. These get subtracted from the sum advanced, but however you calculate it the proceeds will now exceed the £1m presumably required, while the sum is crawling up slowly and the borrower is incurring an extra £356 a day in IR without having the use of the funds. Perhaps they don't want it. I am looking for a card to send congratulations on reaching 6 months, on Thursday.
Yes, it would be nice to get some clarity on the future of this loan.
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Post by ablrate on Sept 23, 2020 9:55:04 GMT
Was with the borrower last night, we will be giving and update and likely drawing down shortly (within the next seven days) - you are still earning instant returns.
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criston
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Post by criston on Sept 28, 2020 16:08:09 GMT
Was with the borrower last night, we will be giving and update and likely drawing down shortly (within the next seven days) - you are still earning instant returns. 2 days left. The length of time this has been going on for, I thought you were about to bring in the undertakers, but will underwriters be taking any of the loan on.
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