criston
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Post by criston on Oct 22, 2021 12:51:42 GMT
New update on the AF loans, ABLRate say they are making progress, but "Subject to everything being agreed today we will be able to push forward with plans to bring further funding into the group. We anticipate being able to give you a material update with the details of the strategy and the proposed funding by the end of November." So we won't find out anything more until the end of next month - and it'll only be details of a proposed solution  Hopefully the Bellweing loans update will be more encouraging.
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ptr120
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Post by ptr120 on Oct 22, 2021 13:22:41 GMT
New update on the AF loans, ABLRate say they are making progress, but "Subject to everything being agreed today we will be able to push forward with plans to bring further funding into the group. We anticipate being able to give you a material update with the details of the strategy and the proposed funding by the end of November." So we won't find out anything more until the end of next month - and it'll only be details of a proposed solution Hopefully the Bellweing loans update will be more encouraging. Not really, everything is going to take a month.
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cte
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Post by cte on Oct 22, 2021 13:53:13 GMT
I actually thought November was a typo. "there are one or two items to still be agreed which we should have boxed off today" "Subject to everything being agreed today we will be able to push forward with plans" But then "details of the strategy and the proposed funding by the end of November."  |
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Oct 22, 2021 14:03:34 GMT
I Note. No year date! November ? |
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Post by Badly Drawn Stickman on Oct 22, 2021 18:54:54 GMT
Putting aside the very underwhelming contents....... I see we are back to the giant logo on emails making them all but unreadable for me, ablrate ? |
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criston
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Post by criston on Oct 23, 2021 11:05:16 GMT
What happened to the enhanced security offered 6 weeks ago, with immediate effect, in exchange for a payment holiday.
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Post by df on Oct 23, 2021 22:10:47 GMT
I actually thought November was a typo. "there are one or two items to still be agreed which we should have boxed off today" "Subject to everything being agreed today we will be able to push forward with plans" But then "details of the strategy and the proposed funding by the end of November." Agreements take time to implement  I found this update useful - makes it clear that we shouldn't expect any AF repayments until December as the earliest.
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criston
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Post by criston on Oct 29, 2021 14:53:42 GMT
ablrate Weekly update due from Ablrate by close today. One weekly update has been missed to date. And yes I do note what the last one said in terms of how far off things are, but we were told we would get weekly updates from the start. We were also told we would get AF updates. We were also told we would get enhanced security almost immediately, 7 weeks ago to give us peace of mind. Please advise.
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GreenZero
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The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Oct 29, 2021 15:40:02 GMT
Whilst previous updates have been "rosey" they've had a theme of "jam tomorrow".
Promised weekly updates from abl as well as input from AF have slipped and we've heard nothing more anout the increasing security that was mentioned in "Admin Notes" of 22/9 and 1/10 when we were told a solution had been agreed in principal.
I've no doubt a lot of work is going on in the background, it would be nice to have this communicated to us, in plain English rather than David Brent type management speak "Efficiency, Turnover, Profitability....."
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criston
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Post by criston on Nov 7, 2021 12:44:32 GMT
ablrate So, it is now 8 weeks since we were advised, in return for a payment holiday agreement, (where lenders were not in a position to agree anything actually), enhanced security would be provided immediately for our peace of mind. We had no choice but to stick to our part of the bargain, but the platform & borrower just ignored the offer that was made to us & cannot be bothered to let us know why. Once again lenders are treated with contempt & this is not a petty matter either.
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Post by overthehill on Nov 7, 2021 13:28:05 GMT
ablrate So, it is now 8 weeks since we were advised, in return for a payment holiday agreement, (where lenders were not in a position to agree anything actually), enhanced security would be provided immediately for our peace of mind. We had no choice but to stick to our part of the bargain, but the platform & borrower just ignored the offer that was made to us. Once again lenders are treated with contempt.
No news is usually good news but not in these situations as there is no reason not to get any good news out as soon as possible. I'm amazed the recent loans have done so well, I'm hoping these investors know more than the rest. Even late payments seen to be the norm and that's one of the best risk indicators.
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p2pfan
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Full-Time Investor
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Post by p2pfan on Nov 7, 2021 23:42:50 GMT
ablrate So, it is now 8 weeks since we were advised, in return for a payment holiday agreement, (where lenders were not in a position to agree anything actually), enhanced security would be provided immediately for our peace of mind. We had no choice but to stick to our part of the bargain, but the platform & borrower just ignored the offer that was made to us. Once again lenders are treated with contempt.
No news is usually good news but not in these situations as there is no reason not to get any good news out as soon as possible. I'm amazed the recent loans have done so well, I'm hoping these investors know more than the rest. Even late payments seen to be the norm and that's one of the best risk indicators.
Recent loan launches are not doing anything like as well. There's three new loans available now and Ablrate are desperately struggling to get them filled. For instance, 169 that launched several weeks ago and is for a mere £250k is still only 70% filled. We all know platforms where such a loan would have filled in less than 20 seconds. This AF fiasco, combined with the frequency of issues with other borrowers, has put a lot of people off Ablrate. The new loan that launches tomorrow is also likely to fall flat and plod along very slowly like Thomas the Tank Engine for the same reason. The sooner AB/AF resolve this catastrophic situation, the better it will be for other borrowers on AB.
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Post by Badly Drawn Stickman on Nov 8, 2021 14:45:32 GMT
No news is usually good news but not in these situations as there is no reason not to get any good news out as soon as possible. I'm amazed the recent loans have done so well, I'm hoping these investors know more than the rest. Even late payments seen to be the norm and that's one of the best risk indicators.
Recent loan launches are not doing anything like as well. There's three new loans available now and Ablrate are desperately struggling to get them filled. For instance, 169 that launched several weeks ago and is for a mere £250k is still only 70% filled. We all know platforms where such a loan would have filled in less than 20 seconds. This AF fiasco, combined with the frequency of issues with other borrowers, has put a lot of people off Ablrate. The new loan that launches tomorrow is also likely to fall flat and plod along very slowly like Thomas the Tank Engine for the same reason. The sooner AB/AF resolve this catastrophic situation, the better it will be for other borrowers on AB. I'm afraid I have to disagree. Not about the loan but the characterisation of Thomas as a slow train, true he is no Gordon but a hard working train with a reasonable speed for the jobs he undertakes. Just had a quick look and 3% had filled after 40 minutes. Diesel 10 would be proud.
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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
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Post by GreenZero on Nov 8, 2021 17:29:52 GMT
Recent loan launches are not doing anything like as well. There's three new loans available now and Ablrate are desperately struggling to get them filled. For instance, 169 that launched several weeks ago and is for a mere £250k is still only 70% filled. We all know platforms where such a loan would have filled in less than 20 seconds. This AF fiasco, combined with the frequency of issues with other borrowers, has put a lot of people off Ablrate. The new loan that launches tomorrow is also likely to fall flat and plod along very slowly like Thomas the Tank Engine for the same reason. The sooner AB/AF resolve this catastrophic situation, the better it will be for other borrowers on AB. I'm afraid I have to disagree. Not about the loan but the characterisation of Thomas as a slow train, true he is no Gordon but a hard working train with a reasonable speed for the jobs he undertakes. Just had a quick look and 3% had filled after 40 minutes. Diesel 10 would be proud. Brilliant !! This post is the only thing that has brought a smile to my face over this whole AF situation which I'm finding quite frustrating by the lack of information. Very dissapointed with ablrate who used to bang on about how they recognised the importance of communication and liquidity in p2p.
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Balder
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Post by Balder on Nov 8, 2021 17:48:50 GMT
I'm afraid I have to disagree. Not about the loan but the characterisation of Thomas as a slow train, true he is no Gordon but a hard working train with a reasonable speed for the jobs he undertakes. Just had a quick look and 3% had filled after 40 minutes. Diesel 10 would be proud. Brilliant !! This post is the only thing that has brought a smile to my face over this whole AF situation which I'm finding quite frustrating by the lack of information. Very dissapointed with ablrate who used to bang on about how they recognised the importance of communication and liquidity in p2p. Turning recognition into the action of doing is their problem it appears.
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I found this update useful - makes it clear that we shouldn't expect any AF repayments until December as the earliest. 
