groon
Posts: 39 
Likes: 40
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Post by groon on Mar 1, 2021 14:22:29 GMT
£50,000 will be available on the loan exchange later today / tomorrow. I was there spot on to the second 150meg internet connection result zero. ablrate what actually happened - assume £250K wasn't actually available? Me too, with nothing to show for it. And it's not helpful to be told that I may have a chance "later today / tomorrow" because I don't know when that is, and would it make any difference if I did? Bid limits are a much fairer tool in these circumstances.
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Post by ablrate on Mar 1, 2021 14:26:43 GMT
£50,000 will be available on the loan exchange later today / tomorrow. Wish you had communicated this prior to the load launch as now progressed the withdrawal of funds from the site to invest elsewhere. Or was that the 20% of investment taken prior to the launch. We did say that on the loan launch email.
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Post by jonrgrant on Mar 1, 2021 14:45:15 GMT
Wish you had communicated this prior to the load launch as now progressed the withdrawal of funds from the site to invest elsewhere. Or was that the 20% of investment taken prior to the launch. We did say that on the loan launch email. So when will the loan proportion that was taken up before the official 2:00pm launch be officially launched on the loan exchange or is this exchange launch time being withheld for some hidden reason ?
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criston
Member of DD Central
Posts: 1,204
Likes: 628
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Post by criston on Mar 1, 2021 15:05:47 GMT
I think the majority knew this would fly & surely Ablrate did as well.
For that reason it would have been logical to have had bid limits, but for some crazy reason, exactly the opposite happened by reducing the initial offering to lenders by £50k.
Why on earth Ablrate chose to give underwriters £50k, on this particular loan tranche, presumably at a discount, only to have an agreement to allow all of it to go on the secondary market at par, when the loan is finalised, is anyone's guess.
It will only be the lucky ones, who have funds in their account & act immediately upon receipt of the 'bid accepted' email, that will stand any chance.
I find myself criticising what happened, even though I got all I wanted.
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 218
Likes: 300
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Post by GreenZero on Mar 1, 2021 15:09:37 GMT
£50,000 will be available on the loan exchange later today / tomorrow. I was there spot on to the second 150meg internet connection result zero. ablrate what actually happened - assume £250K wasn't actually available? Same here. I thought I'd gotten the time wrong and the loan launched at 1pm and not 2pm.
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p2pfan
Member of DD Central
Full-Time Investor
Posts: 738 
Likes: 817
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Post by p2pfan on Mar 1, 2021 15:12:42 GMT
I missed out too. Wasn't fast enough.
However, what I've been doing is using the money I'd transferred into ABL for this loan launch to buy the W******* R****** loans on the secondary market. FYI they are available at very slightly over par there (on ASMX).
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Post by df on Mar 1, 2021 15:16:23 GMT
£50,000 will be available on the loan exchange later today / tomorrow. I was there spot on to the second 150meg internet connection result zero. ablrate what actually happened - assume £250K wasn't actually available? I was there on the second. Took about 1 minute to process and the result was “I’m only allowed £18”, so I tried that. Next result was the allowance of -£8. Still can’t figure out what -£ investment means... Anyway, it looks as if somebody grabbed the whole 200k in one go.
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Post by df on Mar 1, 2021 15:27:07 GMT
Why no minimum bid ? total waste transferring funds to invest then even though pressing invest at exact time nothing left !!!! £50,000 will be available on the loan exchange later today / tomorrow. Would it be possible to e-mail us when it becomes available so people don’t have to logon every minute?
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Post by Badly Drawn Stickman on Mar 1, 2021 15:34:40 GMT
I was there spot on to the second 150meg internet connection result zero. ablrate what actually happened - assume £250K wasn't actually available? I was there on the second. Took about 1 minute to process and the result was “I’m only allowed £18”, so I tried that. Next result was the allowance of -£8. Still can’t figure out what -£ investment means... Anyway, it looks as if somebody grabbed the whole 200k in one go. I don't think apart from the £50,000 there was anything apart from high demand causing the scarcity. I do however feel we have seen a glimpse of the future, where underwriters take the loans at source and sell them on ASMX. At least nobody will be frustrated at not being able to get a slice and it saves work for ablrate. That the decent thing to do would have been to have a sensible bid limit and release the whole loan is pretty clear in this case. I did get what I wanted but did not like that image of things to come.
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Post by ablrate on Mar 1, 2021 15:47:46 GMT
£50,000 will be available on the loan exchange later today / tomorrow. Would it be possible to e-mail us when it becomes available so people don’t have to logon every minute? Yes, we will let people know when it is drawn down and live
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Post by ablrate on Mar 1, 2021 15:49:06 GMT
I was there spot on to the second 150meg internet connection result zero. ablrate what actually happened - assume £250K wasn't actually available? I was there on the second. Took about 1 minute to process and the result was “I’m only allowed £18”, so I tried that. Next result was the allowance of -£8. Still can’t figure out what -£ investment means... Anyway, it looks as if somebody grabbed the whole 200k in one go. It was 70 lenders
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Post by df on Mar 1, 2021 15:59:50 GMT
I was there on the second. Took about 1 minute to process and the result was “I’m only allowed £18”, so I tried that. Next result was the allowance of -£8. Still can’t figure out what -£ investment means... Anyway, it looks as if somebody grabbed the whole 200k in one go. I don't think apart from the £50,000 there was anything apart from high demand causing the scarcity. I do however feel we have seen a glimpse of the future, where underwriters take the loans at source and sell them on ASMX. At least nobody will be frustrated at not being able to get a slice and it saves work for ablrate. That the decent thing to do would have been to have a sensible bid limit and release the whole loan is pretty clear in this case. I did get what I wanted but did not like that image of things to come. , do you have any plans for re-introducing bid limits?
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Post by ablrate on Mar 1, 2021 16:28:26 GMT
I think the majority knew this would fly & surely Ablrate did as well. For that reason it would have been logical to have had bid limits, but for some crazy reason, exactly the opposite happened by reducing the initial offering to lenders by £50k. Why on earth Ablrate chose to give underwriters £50k, on this particular loan tranche, presumably at a discount, only to have an agreement to allow all of it to go on the secondary market at par, when the loan is finalised, is anyone's guess. It will only be the lucky ones, who have funds in their account & act immediately upon receipt of the 'bid accepted' email, that will stand any chance. I find myself criticising what happened, even though I got all I wanted. There was and is never a discount on underwriting amounts. There has been £1.75 million of this loan issued prior to this so we assumed that everyone had got what they wanted.. it will teach us to assume... 
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Post by ablrate on Mar 1, 2021 16:29:07 GMT
I don't think apart from the £50,000 there was anything apart from high demand causing the scarcity. I do however feel we have seen a glimpse of the future, where underwriters take the loans at source and sell them on ASMX. At least nobody will be frustrated at not being able to get a slice and it saves work for ablrate. That the decent thing to do would have been to have a sensible bid limit and release the whole loan is pretty clear in this case. I did get what I wanted but did not like that image of things to come. , do you have any plans for re-introducing bid limits? I do believe that we will look at this for up coming loans.
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blender
Member of DD Central
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Post by blender on Mar 1, 2021 16:32:32 GMT
I was awake this time and bid on the dot from one account - the platform froze for me for a while but it worked. I swapped to the other account but had left the money in the loan exchange. Doh! So I transferred that back and bid it, by which time there was only £8 left.
This process must have taken about a minute, and so if you were there at the end of the countdown and bid straight away, you would have been successful. Seems fair to me.
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