Village Idiot
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Pondering Things
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Post by Village Idiot on Feb 24, 2021 21:33:07 GMT
VI is referring to a brief interchange on the press the button topic, where Ablrate was tempted to briefly come out of the bunker and to give no information nor any reply to the requests on the forum. Actually a decent day today payment wise, even a few 'catchup' payments. Quite a few due tomorrow so could be interesting, maybe even another late thrown in. I can't help but think if anything was leaving the pipeline it would have been alluded to yesterday. I had assumed the holiday park would have been offered for completion and still might, does usually seem to be 'the borrower has requested' though. I would think 147 must be lurking near the exit ready to hand the baton to a new property loan, but my crystal ball is always clouded by my own master plan. Stick with criston
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blender
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Post by blender on Feb 24, 2021 22:43:34 GMT
Yes I see that 60 interest has been paid today.
I will stick with madam criston's reading of the tea leaves.
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ptr120
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Post by ptr120 on Feb 25, 2021 6:40:20 GMT
VI is referring to a brief interchange on the press the button topic, where Ablrate was tempted to briefly come out of the bunker and to give no information nor any reply to the requests on the forum. There was a time when they were quite forthcoming on this forum, but it would seem those days have gone. I just have that nagging fear in my mind that every other platform that pulled up the drawbridge of communication on this forum has subsequently gone out of business. I hope that isn't the case here, but based on this wholly unscientific evidence I am certainly starting to wonder why they have chose to become so uncommunicative.
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blender
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Post by blender on Feb 25, 2021 9:28:18 GMT
The last new loan was listed on 23 October 2020 - tranches do not count as new. Four months! The pipeline now seems to leak 100%.
It's a good job that much of Ablrate's income is a percentage of the outstanding capital of performing loans. If it was just on origination I might worry.
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p2pfan
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Post by p2pfan on Feb 25, 2021 10:14:57 GMT
The last new loan was listed on 23 October 2020 - tranches do not count as new. Four months! The pipeline now seems to leak 100%. It's a good job that much of Ablrate's income is a percentage of the outstanding capital of performing loans. If it was just on origination I might worry. Yes, it's unfortunate. I am also not interested in yet more loans to existing borrowers as I need diversification. Ablrate is perhaps not mainly a P2P platform any more which is focused on new loan launches etc. It is an IT development house focused on ASMX.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Feb 25, 2021 10:30:02 GMT
A similar thought crossed my mind at Christmas/ early January p2pfan , tbf there cant be a lot else to to at ablrate towers lately except look for new Quality loans, and chase up businesses that are clearly still going to be struggling with the restrictions, o and the odd bank that;s paranoid about giving money away. |
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Post by ladywhitenap on Feb 25, 2021 10:52:24 GMT
I reckon it is still quite a bold step for a new potential P2P borrower to be embarking on the sort of business venture that can stand the interest/repayment levels demanded in the current climate.
There are little sparks out there though. For example I was impressed to see a local pub advertising for an apprentice chef the other day to undertake training now in readiness for hospitality re-opening.
LW
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Village Idiot
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Post by Village Idiot on Feb 25, 2021 11:54:57 GMT
I reckon it is still quite a bold step for a new potential P2P borrower to be embarking on the sort of business venture that can stand the interest/repayment levels demanded in the current climate. There are little sparks out there though. For example I was impressed to see a local pub advertising for an apprentice chef the other day to undertake training now in readiness for hospitality re-opening. LW I am inclined to agree, Ablrate is by nature somewhat niche. Yes there will be some areas that by definition do well in the current situation and some that will actively benefit from it. Lending to anything outside of that would be lending for lendings sake (arguably a practice that has proved disastrous in the past). I would assume Ablrate are plotting for life after the current 'problems' and later in the year all being well strange loans will appear more often. Luckily my role is not to be understanding and reasonable at all times, more to demand the undeliverable and then complain about it when it arrives. Not much of a job, but I like it.
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ptr120
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Post by ptr120 on Feb 25, 2021 15:07:56 GMT
The main problem with new loan origination at the moment (as far as I see it) is that many borrowers who might otherwise turn to a P2P platform for funding currently have the option of CBILS funding. Although I know that there were problems getting money out the door at the start of the scheme, I gather that funds are flowing fairly freely now in most circumstances. With the exception of existing borrowers, I don't see the problem of new loan origination changing any time soon - lets face it, if you can't get a CBILS loan, you are probably already struggling
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criston
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Post by criston on Feb 25, 2021 15:30:58 GMT
Get the first payment on 152 due today, out of the way, which could be delayed due to Standing Order set up, then launch the final Wellbeing tranche, so that it does not look as though the funding is needed for that purpose, as happened last time.
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blender
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Post by blender on Feb 25, 2021 22:52:45 GMT
Get the first payment on 152 due today, out of the way, which could be delayed due to Standing Order set up, then launch the final W*******g tranche, so that it does not look as though the funding is needed for that purpose, as happened last time. An hour to go on 152. I don't worry about them not having the cash, but I do think it simply disrespectful to their lenders that they cannot be bothered to make the first payment on the due date.
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Post by greenzero on Feb 25, 2021 23:22:18 GMT
Get the first payment on 152 due today, out of the way, which could be delayed due to Standing Order set up, then launch the final W*******g tranche, so that it does not look as though the funding is needed for that purpose, as happened last time. An hour to go on 152. I don't worry about them not having the cash, but I do think it simply disrespectful to their lenders that they cannot be bothered to make the first payment on the due date. I agree, it's a poor show when they can't manage to make their first payment on time. I don't swallow the SO excuse, it's 2021 not 1971 ! However, until there is some kind of consequence for not making payments on time, why should lenders worry? and I'm sure they'll raise their final tranche within a couple of hours of it going live regardless.
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criston
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Post by criston on Feb 26, 2021 15:03:08 GMT
I may as well update this in the absence of anything from Ablrate. Another tranche of the £11m 142 loan will be due soon, to coincide with the £1m redemption of loan 113. The last W********g £0.25m tranche is imminent. Further new borrowers loans will coincide with I***t redemptions. One correct so far. Watch this space.
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brush
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Post by brush on Feb 26, 2021 15:39:16 GMT
We are most definitely in the presence of the Sherlock Holmes of P2P  |
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des
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Post by des on Feb 26, 2021 15:58:16 GMT
We are most definitely in the presence of the Sherlock Holmes of P2P I'm pretty sure you have mixed up Sherlock Holmes with Mystic Meg 
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