blender
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Post by blender on Dec 21, 2020 22:45:10 GMT
I am assuming pari passu and will either take the new loan or the old one on the SM if a better deal. [For the avoidance of doubt, that was not intended as a joke.]
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criston
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Post by criston on Dec 22, 2020 15:25:46 GMT
Surprising there was no mention of the 3 up & coming loans in the video update.
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p2pfan
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Post by p2pfan on Dec 22, 2020 16:59:46 GMT
Surprising there was no mention of the 3 up & coming loans in the video update. Yes, these three loans that were supposed to have launched over the last month have all disappeared into the ether. No mention of them anywhere. Very disappointing.
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blender
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Post by blender on Dec 22, 2020 17:23:06 GMT
Surprising there was no mention of the 3 up & coming loans in the video update. Yes, these three loans that were supposed to have launched over the last month have all disappeared into the ether. No mention of them anywhere. Very disappointing. You are right but Ablrate have always been optimistic on dates for everything. We get used to it. Fortunately, the one they are doing is the one I want, not being in the first tranche to any extent. But it is always possible to get the spare cash on this loan coming and to transfer via the SM when the others come. It's only £250k and should not affect the SM values too much.
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p2pfan
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Post by p2pfan on Dec 22, 2020 17:52:20 GMT
Yes, these three loans that were supposed to have launched over the last month have all disappeared into the ether. No mention of them anywhere. Very disappointing. You are right but Ablrate have always been optimistic on dates for everything. We get used to it. Fortunately, the one they are doing is the one I want, not being in the first tranche to any extent. But it is always possible to get the spare cash on this loan coming and to transfer via the SM when the others come. It's only £250k and should not affect the SM values too much.
That's a good tip. Thanks. For simplicity, will just leave the funds sat in AblRate, hoping for launches in early or (more realistically) mid-January. No point even transferring money to a bank account for a month, because you know what the returns are like in bank savings accounts nowadays.
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criston
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Post by criston on Dec 22, 2020 18:38:53 GMT
Loan 151
Pros. Ablrate. Mr AF. LTV 53%. Eventually 60%, but never gets there due to amortisation. 15% interest or 81.5% compound after 4 years reinvesting. 4 year term. Possible enhanced planning value. Any Infrastructure & construction works that eventually commence, enhancing the value. Advance deposits from residential purchasers to help repayments. Amortising over term, reducing LTV.
Negs. 2nd Charge. (1st charge 39%)
SM value. Initially 108%
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Post by Badly Drawn Stickman on Dec 22, 2020 19:52:20 GMT
Yes, these three loans that were supposed to have launched over the last month have all disappeared into the ether. No mention of them anywhere. Very disappointing. You are right but Ablrate have always been optimistic on dates for everything. We get used to it. Fortunately, the one they are doing is the one I want, not being in the first tranche to any extent. But it is always possible to get the spare cash on this loan coming and to transfer via the SM when the others come. It's only £250k and should not affect the SM values too much.
You might be starting to believe in the liquidity fairies with that plan. Hard to predict this one given the amount of cash washing around (allegedly) it could fly out the window 'just because'. Also quite possible it could still be filling after other more novel new loans are done and dusted if keeping powder dry wins the day.
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blender
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Post by blender on Dec 22, 2020 20:44:51 GMT
You are right but Ablrate have always been optimistic on dates for everything. We get used to it. Fortunately, the one they are doing is the one I want, not being in the first tranche to any extent. But it is always possible to get the spare cash on this loan coming and to transfer via the SM when the others come. It's only £250k and should not affect the SM values too much.
You might be starting to believe in the liquidity fairies with that plan. Hard to predict this one given the amount of cash washing around (allegedly) it could fly out the window 'just because'. Also quite possible it could still be filling after other more novel new loans are done and dusted if keeping powder dry wins the day.
Yes I believe, and people seem to believe in much more unlikely ideas especially at this time of year. There are no guarantees in p2p and capital is at risk, but the plan is rational. The SM is high, there is nothing much else going, the loan should not take long to fill, and instant returns will be running at 15%. Over at Assetz you can now exit the 'access' accounts at just over 2% which might be made up here in two or three months. All funds lent through Ablrate are at risk of loss or being tied up or both - and I think we take that as read. We will be able to see how it turns out. I also believe that there will be a withdrawal agreement with the EU, paid in fish. Delusional, probably.
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criston
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Post by criston on Dec 23, 2020 13:55:11 GMT
'£249,990.00 available in new loans' 7 minutes before the bell. Who got the £10.
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blender
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Post by blender on Dec 23, 2020 14:08:45 GMT
'£249,990.00 available in new loans' 7 minutes before the bell. Who got the £10. I missed that. 50% gone in 5 mins. My prediction looking good (something has to work). Ablrate probably awaits complaints from the fraternity of bid limits.
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Post by ladywhitenap on Dec 23, 2020 14:18:45 GMT
'£249,990.00 available in new loans' 7 minutes before the bell. Who got the £10. I missed that. 50% gone in 5 mins. My prediction looking good (something has to work). Ablrate probably awaits complaints from the fraternity of bid limits.
I spotted that whilst watching the countdown clock to bid opening. Back in the MT days I sometimes asked them to bid for me if I could not be online at the opening time but if it were something like that, £10 seems a trivial amount. More like to be some test being run from within maybe. 60% gone in first 15 mins Glad there is an appetite for new loans out there. I'd have been able to take a bigger bite if ablrate were not lying on their backs wriggling helplessly and not sorting out 114 and 55 Grrr! LW
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blender
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Post by blender on Dec 23, 2020 14:33:51 GMT
And 120 and 124 - still in default but not defaulted. Still raising funds, but not for us.
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criston
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Post by criston on Dec 23, 2020 14:37:54 GMT
And 120 and 124 - still in default but not defaulted. Still raising funds, but not for us. P2P companies need to start entering heavy penalising terms when lenders are treated with contempt by borrowers.
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Post by Badly Drawn Stickman on Dec 23, 2020 14:43:42 GMT
And 120 and 124 - still in default but not defaulted. Still raising funds, but not for us. In a strange way the account is now slightly in advance, given that the early payment made yesterday was used on the overdue interest it is now less in arrears. Add in the loan package probably being better overall now and reasons to be cheerful are literally (in the virtual sense) raining down on us.
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ilmoro
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Post by ilmoro on Dec 23, 2020 14:49:33 GMT
And 120 and 124 - still in default but not defaulted. Still raising funds, but not for us. P2P companies need to start entering heavy penalising terms when lenders are treated with contempt by borrowers. The problem with that is if it subsequently acts as a disincentive/barrier to exit - see Lendy Ablrate already includes penalties within the documents - the question is the point at which they apply them
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