Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Nov 5, 2015 15:58:32 GMT
I have some experience with other platforms SS, FC, FS, AC. I'm looking to signup for ablrate but have few questions:
1. Are there any active loans atm?
2. What is the loan flow? How many new ones per week/month?
3. What is the standard loan size? OR few last ones?
4. Do I need to wait with my finger on keyboard while loan is released or is there a time to do DD and invest later in the day?
5. Is there a secondary market?
6. What are the important features of SM (discount/premium, sale is free or with fees, anything unusual comparing to other platforms)
7. Anything else worth knowing before you start?
Appreciate your answers.
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Post by ablrate on Nov 5, 2015 17:22:14 GMT
I have some experience with other platforms SS, FC, FS, AC. I'm looking to signup for ablrate but have few questions: 1. Are there any active loans atm? 2. What is the loan flow? How many new ones per week/month? 3. What is the standard loan size? OR few last ones? 4. Do I need to wait with my finger on keyboard while loan is released or is there a time to do DD and invest later in the day? 5. Is there a secondary market? 6. What are the important features of SM (discount/premium, sale is free or with fees, anything unusual comparing to other platforms) 7. Anything else worth knowing before you start? Appreciate your answers. Hi 1. There is an active loan for £450k at the moment that has been filled to £320k 2. Our loans flows are a little different from the others in that we generally have larger loans and therefor smaller deal flow (the pipeline is looking good) 3. Loans vary from £65k minimum (except for a small one we did at the beginning) and we did one of £1 million + but the average is about £250k 4. On some smaller popular loans, they go very quickly, but generally there is plenty of time to do DD 5. Yes, and its awesome. Bid/Offer system with accurate yields etc (there is a guide on here helpfully done by James or you can view the FAQ - here is the SM overview ) 6. No fees for selling or buying. There is a full bid/offer system, so if you don't like the price that is offered you can (subject to having funds on account) place a bid for the amount and the price you would like. 7. Yes, please read the risk warnings and also have a look at Instant ReturnsHope that helps, looking forward to welcoming you to Ablrate Regards Ablrate
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blender
Member of DD Central
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Post by blender on Nov 5, 2015 20:36:41 GMT
Investboy,
I can endorse Andy's reply as accurate. Additionally there are some positives and negatives.
Positives, the main asset class of planes is different from other platforms and good for diversification.
The platform is true p2p in that you lend to the borrower once the loan is drawn down and not to the platform. Similarly you have a charge on the security.
The secondary market works - I have used it to sell without difficulty. But presumably the secondary market requires the live platform to continue for the duration.
Negatives, really just the deal flow and the consequences. Loans are few and far between compared with other platforms, mainly because the intended large plane deals await a form of underwriting which will allow small lenders to participate to fund together a minority of each new loan. Having said that there is currently one plane loan available at 10%. I have bid. There is, imo, no reason to exclude Ablrate loans from a portfolio. Your cash and loans are safe.
Personally I use only FC and Ablrate and cannot compare with others in any detail.
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Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564
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Post by Investboy on Nov 5, 2015 21:31:57 GMT
ablrate , blender thanks. I also noticed FAQ on your site after posting that question and saw most of my questions answered there.
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SteveT
Member of DD Central
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Post by SteveT on Nov 5, 2015 21:53:17 GMT
The SM is one of the more sophisticated but be careful the first couple of times you trade that you're happy with the AER at which you're buying or selling. The system works off % premiums / discounts (where par = 100%) but the effect that, say, a 1% premium (ie 101%) has on the AER is very much greater in a loan has just 3 months left versus 3 years left! The system calculates the resulting AER for you so it's not hard.
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Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564
Likes: 201
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Post by Investboy on Nov 6, 2015 12:11:18 GMT
Now waiting for my account to be activated... Great work ablrate. I'm impressed on the FAQ page, videos, SM capability and the interface (based on video tutorials). I hope the profits and loan flow will also be as impressive. |
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Post by ablrateandy on Nov 6, 2015 13:19:11 GMT
Hopefully you should have received a mail by now and/or be activated. Any questions then feel free to message me or email Customer Services.
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Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564
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Post by Investboy on Nov 7, 2015 14:45:04 GMT
ablrate, ablrateandy: I've registered, nice smooth process and nice chat with Phil  Now I want to transfer funds. I see bank details ect, but on all platforms I get unique reference number to identify my payment. But here I don't see one. On the page it says "use your name or username as a reference". But they are too long to fit in the field. Can I use my company name (that one is short and will fit in reference field)? Or my surname and first letter of name? I guess from above the bank deposits is a manual process that needs to be confirmed by human.
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Post by ablrateandy on Nov 7, 2015 14:48:05 GMT
Hello! If you put in your surname we'll pick it up. It's approved manually by ablrate who will credit your account when we receive the payment. If you use a debit card it goes straight in. Investboy |
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Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564
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Post by Investboy on Nov 7, 2015 15:28:24 GMT
ablrateandy, thanks. Deposit sent. Managed to put my full first and last name. Should reach your account straight away but as its weekend I can live with it being added to my account on Monday
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Post by ablrateandy on Nov 7, 2015 15:31:27 GMT
I'll poke the boss to check  |
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Post by ablrateandy on Nov 7, 2015 16:57:19 GMT
Investboy In your account now I'm pretty sure!
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Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564
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Post by Investboy on Nov 7, 2015 22:18:44 GMT
Thanks, I see it. But there is inconsistency in email notification. Got 2 when funded via debit card, but no when funded via bank transfer.
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SteveT
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Post by SteveT on Nov 8, 2015 8:02:04 GMT
Thanks, I see it. But there is inconsistency in email notification. Got 2 when funded via debit card, but no when funded via bank transfer. I always use the debit card option for my deposits into Ablrate; it's instant and there's no downside. They're still happy to transfer withdrawals into my bank account, often within an hour or two (during the working week at least).
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james
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Post by james on Nov 8, 2015 11:45:24 GMT
Thanks, I see it. But there is inconsistency in email notification. Got 2 when funded via debit card, but no when funded via bank transfer. I always use the debit card option for my deposits into Ablrate; it's instant and there's no downside. They're still happy to transfer withdrawals into my bank account, often within an hour or two (during the working week at least). If you're in a special hurry to get money out for some reason it can also be useful to give customer service a call so they can be sure it gets done promptly, in which case it'll probably be done within a few hours, depending on whether the required people are in meetings or not. Helpful folks. Otherwise it can be a few business days sometimes. You can also cancel a withdrawal request by calling customer service if you have that need, say if you ask for one then a new loan gets announced.
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