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Post by p2pgirl on Nov 6, 2020 9:31:41 GMT
Having watched Financial Thing's interview with David Bradley Ward last night, I was impressed and I'm considering dipping my toe in with a small investment. Before that I'd be interested in hearing about people's experiences -
* Is it easy to get your capital invested?
* What are the default rates like and how is your experience with recoveries? Have you lost money on any loans?
* How is Ablrate's communication - from the outside it looks very good?
* How is the secondary market? Do loan parts sell quickly?
* I understand that a good proportion of the loans are with a small number of borrowers (David talked about relationships). Does this concern you?
* Would you recommend Ablrate?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,848 
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Post by ilmoro on Nov 6, 2020 10:15:36 GMT
Having watched Financial Thing's interview with David Bradley Ward last night, I was impressed and I'm considering dipping my toe in with a small investment. Before that I'd be interested in hearing about people's experiences - * Is it easy to get your capital invested? * What are the default rates like and how is your experience with recoveries? Have you lost money on any loans? * How is Ablrate's communication - from the outside it looks very good? * How is the secondary market? Do loan parts sell quickly? * I understand that a good proportion of the loans are with a small number of borrowers (David talked about relationships). Does this concern you? * Would you recommend Ablrate? Difficult to answer the first question as it depends on what price you are willing to pay to become diversified. Investing in new loans is quite possible, don't fill particularly quickly (not a issue as no drag due to instant returns) but if you are investing via the SM then you may have to pay premiums for loans as it is a true market. 2. Quite a lot of defaults ... one significant write off, two in protracted court case which probably won't end well, quite a few that have been restructured. They tend to work hard to resolve issues but jury out on whether they will be successful. 3. SM is complex with discounts & premiums. New system just launched so still working out kinks. Loans will sell if the price is right. 4. Borrower concentration a big issue ... at least 3 account for bulk of loans I'd you dig. The concern is the level of security that is interelated or concurrent. Debentures/PG covering multiple loans. A concern as it undermines diversification. Comms are quite good, lots of info on site, sometimes need a kick to get necessary info on issues. I would but proceed with caution. Borrower concentration & level of defaults are concerns.
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travolta
Member of DD Central
Posts: 1,458
Likes: 1,167
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Post by travolta on Nov 6, 2020 10:37:54 GMT
Pity about the mis info on the Vu~~~n payment just now  |
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Post by Badly Drawn Stickman on Nov 6, 2020 10:40:52 GMT
ilmoro has summed it up pretty well and I would not differ greatly. Might add that this is the deep end and investing according is key. It costs nothing to join (but from memory is more involved than some) and my own experience is that looking around for a while is the best way to asses a platform. Usual attempt at a positive note to end, they do seem prepared to listen and interact on this forum which is a plus to me.
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Post by Ace on Nov 6, 2020 12:06:34 GMT
I'm in agreement with the previous comments.
In terms of numbers, I've had a couple of accounts for a little over 2.5 years and both are achieving over 11% XIRR after allowing for defaults. I've only had one loss so far. I currently have over 8 pages of late payments at 20 entries per page. The oldest one dates back to October 2018, so it's difficult to guess where I'll end up. Ablrate do seem to put more effort in than other platform when trying to retrieve our cash.
Having said that, I do really like the platform. They seem to have a degree of honesty about them that is missing from many others. I'm happy to keep lending there. After 2.5 years I could lose 30% and still break even.
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Post by p2pgirl on Nov 6, 2020 15:54:51 GMT
Thank you all for your replies. Very helpful - as suggested, I will sign up for an account and have an explore. Ace - ~160 entries of late payments. Does that mean ~160 loan parts that are potentially in recovery? Or is it just payments that have at one time or another been late? |
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 384
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Post by brianlom1 on Nov 6, 2020 16:11:50 GMT
No disagreement whatsoever with previous responses but here's my six penny worth:
* Is it easy to get your capital invested?
Yes, you can invest in new loans (that pay interest from day one) or via the loan exchange (which is a true market so loans may be offered at a premium or at a discount)
* What are the default rates like and how is your experience with recoveries? Have you lost money on any loans?
Yes, I've lost money on at least one loan and many others are in default. That said, Ablrate go above and beyond in their efforts to recover investor funds and they only pay themselves once investors have been paid. Unlike with several other P2P platforms, I accept that my losses are due to the inherent risks of P2P lending.
* How is Ablrate's communication - from the outside it looks very good?
Excellent
* How is the secondary market? Do loan parts sell quickly?
It's a true market. My only beef is with 'paused' loans but I understand Ablrate have a cunning plan to make these tradeable.
* I understand that a good proportion of the loans are with a small number of borrowers (David talked about relationships). Does this concern you?
Yes, you need to do your homework.
* Would you recommend Ablrate?
Absolutely but let's keep this our little secret ...
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Post by Ace on Nov 6, 2020 16:27:02 GMT
Thank you all for your replies. Very helpful - as suggested, I will sign up for an account and have an explore. Ace - ~160 entries of late payments. Does that mean ~160 loan parts that are potentially in recovery? Or is it just payments that have at one time or another been late? It's 169 individual payments that are still unpaid. 16 more were added in the past month. Many are from the same borrowers with multiple loans that haven't paid for a long time, so a new missing payment is added for each loan each month. There are extenuating circumstances that are best not discussed here that does warrant some patience. I'm hopeful that Ablrate will be able to recover a considerable proportion of the funds. It would be foolish to expect to be able to lend at these rates without some losses, but overall I'm making good returns. Ablrate has been in my favourite 6 platforms for a long time now.
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blender
Member of DD Central
Posts: 5,719
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Post by blender on Nov 7, 2020 9:00:46 GMT
Having watched Financial Thing's interview with David Bradley Ward last night, I was impressed and I'm considering dipping my toe in with a small investment. Before that I'd be interested in hearing about people's experiences - * Is it easy to get your capital invested? * What are the default rates like and how is your experience with recoveries? Have you lost money on any loans? * How is Ablrate's communication - from the outside it looks very good? * How is the secondary market? Do loan parts sell quickly? * I understand that a good proportion of the loans are with a small number of borrowers (David talked about relationships). Does this concern you? * Would you recommend Ablrate?Yes, as true p2p where you make your choices with full info and you live or die by the borrower performance. Excellent diligence on loan origination and monitoring, and Ablrate will give up on a loan about as easily as Donald Trump will concede an election. Be prepared for a high level of engagement to optimise results, and a decent sum on each loan to make it worth the effort. I have never lost capital through a default, in five or six years, but have occasionally decided to sell up at a loss. You have good control, even through the current unpleasantness. Do not lend the rent money here, nor expect a regular monthly income on savings. But if you can take the risks of p2p, the track record of this platform is good, imo.
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nw99
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Post by nw99 on Nov 7, 2020 9:07:56 GMT
Having watched Financial Thing's interview with David Bradley Ward last night, I was impressed and I'm considering dipping my toe in with a small investment. Before that I'd be interested in hearing about people's experiences - * Would you recommend Ablrate? Best P2P lender out there risks are there but been within them from the outset . Spread your risk in the portfolio and should be onto a nice winner. Great secondary market best out there.
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