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Post by valueinvestor123 on Feb 4, 2015 11:05:51 GMT
Every time I log in there are never any new loans and also nothing on the secondary market. What is the frequency of new loans coming onto the market for Ablrare? Seems like good idea but with no loans...I am not sure.
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baldpate
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Post by baldpate on Feb 4, 2015 11:51:26 GMT
6 loans completed in 5 months, the last one towards the end of January. You can do the maths. Ablrate say they have plenty of potential loans, but are short of lenders. Read the thread "How many unique borrowings expected in next 12 months?" for more info.
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Post by valueinvestor123 on Feb 4, 2015 11:54:32 GMT
Do they send out emails before a new loan comes online?
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oldgrumpy
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Post by oldgrumpy on Feb 4, 2015 12:06:53 GMT
"Ablrate say they have plenty of potential loans, but are short of lenders."
How do they monitor that?!! They don't know that I've got more than £23.79 available waiting to invest in them ....oh, they do now. I expect a lot of people are just waitng for the loans to appear. In the meantime, 0.5% is still available from many platforms, often labelled bank or BS. In the meantime just what, exactly, is Ablrate telling all these people who are waiting to borrow?
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Post by ablrate on Feb 4, 2015 13:19:22 GMT
Hi Guys
We understand your frustrations on the loan origination and thanks for being so keen to see more, it is testament to the quality that goes up on the platform. Let me explain where we are at:
1. Firstly there are about 4 pages of Secondary Market units - if you click on the 'Secondary Market' on the front page you will see all the units listed.
2. New loan origination - and oldgrumpy, makes a great point here - how do we know how much you guys are willing to invest? We don't, obviously, what we can estimate is what we are likely to fill going from past experience and that forms the basis of what is coming on the platform at any one time. The new system will allow us to manage that better and here's how; We will be bringing 'Scheduled Loans' which will allow underwriters to see what is coming up before all the paperwork is done. They will then be able to pledge to underwrite deals, giving us and our borrowers a better scheduling process. It works well for aircraft too, which have delivery date situations that have to match up with draw down.
There are other features and functions that will allow Lenders to be earning straight away (enhancing our Instant Returns feature) that will be committed to transactions that are coming up. I cant say too much of how it works, but I am sure you will like it.
Basically, we believe our loans are pretty good, and we would be doing a disservice to our community if we put up deals for deals sake. We are in the business for the long term and will only place deals on the platform that we believe in. On the point of what we tell our borrowers, we simply let them know that we are building our community, we want to be able to close each deal and not have people having drag by investing and the loans not closing and they are very happy that we have that approach.
The new platform is currently under construction along with various initiatives for bringing on more institutional money to give us the deal flow we, and you, want. We are working on a SIPP product being available, new loan categories, and money raised for excellent liquidity in the secondary market.
There will be a transaction up on the platform in the coming week, perhaps two if we have the paperwork done and we look forward to letting you know what it is. Bottom line is we have learned a lot in the last six months as to the best way, we believe, a platform should operate. This has been based on operational experience and massive feedback from lenders and the wider p2p community, which has been amazing. Many platforms want to build quickly and have a 'land grab' of both borrowers and lenders, which is perfectly acceptable for their growth goals. We feel that we want to build on the experiences so far and continue to innovate in the sector at a more measured pace that will ensure our loan standards don't slip, our platform matures into something considered and well thought out, and we are not running to catch up.
Regards
Ablrate
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Post by valueinvestor123 on Feb 4, 2015 13:48:35 GMT
Ah I missed the secondary market tab. It's a shame most of the loans trade on such high premiums...
I agree quality of loans is much more important than quantity.
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Post by ablrate on Feb 4, 2015 14:09:05 GMT
Ah I missed the secondary market tab. It's a shame most of the loans trade on such high premiums... I agree quality of loans is much more important than quantity. Hi Yes, we have taken the premium listing and will be sorting them in order of 'best first' on the new system, and will be changing that on the current one to. Regards Ablrate
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baldpate
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Post by baldpate on Feb 4, 2015 15:50:15 GMT
I hope I didn't come across as too negative in my reply to the OP. I very keen that Ablrate should grow, as their lending propositions seem to offer something rather different from the property-secured deals available elsewhere. I continue to check up on the site every day or two, and I'm predisposed to invest (modestly) in new offerings as they appear.
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Post by ablrate on Feb 4, 2015 16:00:48 GMT
I hope I didn't come across as too negative in my reply to the OP. I very keen that Ablrate should grow, as their lending propositions seem to offer something rather different from the property-secured deals available elsewhere. I continue to check up on the site every day or two, and I'm predisposed to invest (modestly) in new offerings as they appear. Hi Not at all, we have taken the stance that all feedback is good feedback. As an example the email issued we had at the beginning were a little, shall we say, 'pointed'... but because of the exchange we had on the forum we were able to get to what was quite an issue that we would have found later, rather than sooner, if those on here had not taken the time to give us the feedback.. So thanks for your comments, they are very much appreciated at all times. Regards Ablrate
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duck
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Post by duck on Feb 4, 2015 18:13:43 GMT
"Ablrate say they have plenty of potential loans, but are short of lenders."
How do they monitor that?!! They don't know that I've got more than £23.79 available waiting to invest in them ....oh, they do now. I expect a lot of people are just waitng for the loans to appear. In the meantime, 0.5% is still available from many platforms, often labelled bank or BS. In the meantime just what, exactly, is Ablrate telling all these people who are waiting to borrow?
hmmm my waiting cash is in RS monthly at 2.8% ......
Anyway, I don't suppose I am alone in investing 'light' when trying a new platform, starting with £10's then (if I like what I see) moving to £100's then £1000's. So I would suggest that it would be very hard to predict what can be raised from 'the crowd' based on past loans, I don't envy you that task ablrate!
..... and yes I do like what I have seen so far!
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Post by ablrate on Feb 5, 2015 9:57:01 GMT
Thanks duck
There is a delicate balance between forging ahead and making sure each loan fills and is good for customers. It is a balancing act right now, but it will be easier in the coming months.
Regards
Ablrate
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Post by mashclint on Feb 5, 2015 10:28:37 GMT
On the secondary market is there a way to buy a single unit when more than one is being offered? I see the ablrate team have some on offer but are packaged as 3 or 2 units. I have only a units worth of cash standing by and are unable to pick a unit up at cost.
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Post by ablrate on Feb 5, 2015 13:12:13 GMT
On the secondary market is there a way to buy a single unit when more than one is being offered? I see the ablrate team have some on offer but are packaged as 3 or 2 units. I have only a units worth of cash standing by and are unable to pick a unit up at cost. Hi Unfortunately that is not on the system... I will ask them to be split. Regards Ablrate
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shimself
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Post by shimself on Feb 9, 2015 9:46:38 GMT
Thanks duck There is a delicate balance between forging ahead and making sure each loan fills and is good for customers. It is a balancing act right now, but it will be easier in the coming months. Regards Ablrate SS can get 500K on a good day at their 12%, despite the not exactly p2p issue. I really think you are doing yourselves a disservice by not having a new offering. It's been quite some time now since you had a new loan, I just have to think there is more going on than we are being told, sorry.
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Post by ablrate on Feb 9, 2015 12:08:50 GMT
Hi
I can understand the frustration but there will be one up this week. Again, its a case of making sure they are good loans up to our criteria and they make sense for the borrower and the lender. There is also a lot of work going on with the new platform, we have had several meetings with new categories of loans that we have delayed until the new platform is launched and these are the important things that we have learned and will be implementing on the new one:
1. Deal flow - we don't have a problem with deal flow, however, we need to be able to manage it better, if we are honest about it. With aircraft loans they have to close, as there is a delivery date there, so putting transactions up that might not close is not an option. We also want investors to see whats coming up, be able to evaluate the loans longer etc, before going live.
2. Secondary Market liquidity. With terms on the loans being longer we want lenders to the have the option to liquidate if they require. So we have been working on the liquidity of the SM which will be self-evident on the new platform.
3. Technology frustrations.. We see on these boards a lot of frustration with the technology - this is something we are keen to get right and with the tools we are implementing it's important to be sure they are correct. So our testing at the end of March will be intensive and we hope to invite some members to test with us.
Its encouraging to know that people are keen to see our loans and we appreciate that people would like to get involved and diversify on the platform. We are working diligently to make Ablrate an even better offering to investors, and want to make sure that everything we do is aimed at protecting the investments you guys trust us with. Rest assured, the deal flow on Ablrate will be increasing rapidly over the coming months as we solve the particular challenges within our sector.
Regards
Ablrate
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