james
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Post by james on Feb 22, 2016 15:54:47 GMT
Impressive that at this stage Ablrate has been able to fill the £1.8 million request for the most recent ATR loan.
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SteveT
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Post by SteveT on Feb 22, 2016 15:57:30 GMT
Impressive that at this stage Ablrate has been able to fill the £18 million request for the most recent ATR loan. £18m really would have been impressive!
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Post by ablrateandy on Feb 22, 2016 15:58:59 GMT
We're gonna need a bigger plane....
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registerme
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Post by registerme on Feb 22, 2016 15:59:41 GMT
Naah, not bigger, more of them.
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james
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Post by james on Feb 22, 2016 16:13:32 GMT
Impressive that at this stage Ablrate has been able to fill the £18 million request for the most recent ATR loan. £18m really would have been impressive! At least I got the subject right!
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Post by ablrate on Feb 22, 2016 16:50:02 GMT
Thanks all
We have extended it a touch to accommodate a few stragglers!
Regards Ablrate
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james
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Post by james on Feb 22, 2016 17:00:13 GMT
Another 50k, best move fast if you want it, given that 1.8 million went fairly quickly!
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duck
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Post by duck on Feb 22, 2016 17:53:34 GMT
Really pleased to see this 'milestone' passed. To quote james "Congratulations."
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Investor
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Post by Investor on Feb 22, 2016 21:47:33 GMT
Thanks all We have extended it a touch to accommodate a few stragglers! Regards Ablrate Not trying to ruffle feathers but more a point of principle and a question regarding future loans. When all investors have been making their investment based on a fixed loan value, with an expected sale price against a fixed asset, we therefore have an opportunity to calculate a nominal LTV from these figures. Ablrate changing the loan value arbitrarily at the end of the loan to 'accommodate stragglers' changes the dynamics of the loan. In this case 50k on 1.8m is unlikely to be significant but I would be interested to know Ablrate's view on whether they hold the option to change values for future loans. Still very happy with this loan at the new value but know I would not be comfortable with some other platforms 'moving the goal posts' so would appreciate a comment from Andy or David on why stragglers, who have had a couple of weeks to join this loan, should be accommodated to the albeit minor potential detriment of original investors.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 22, 2016 21:57:53 GMT
Thanks all We have extended it a touch to accommodate a few stragglers! Regards Ablrate Not trying to ruffle feathers but more a point of principle and a question regarding future loans. When all investors have been making their investment based on a fixed loan value, with an expected sale price against a fixed asset, we therefore have an opportunity to calculate a nominal LTV from these figures. Ablrate changing the loan value arbitrarily at the end of the loan to 'accommodate stragglers' changes the dynamics of the loan. In this case 50k on 1.8m is unlikely to be significant but I would be interested to know Ablrate's view on whether they hold the option to change values for future loans. Still very happy with this loan at the new value but know I would not be comfortable with some other platforms 'moving the goal posts' so would appreciate a comment from Andy or David on why stragglers, who have had a couple of weeks to join this loan, should be accommodated to the albeit minor potential detriment of original investors. Theyve done this a few times, certanly with a container, though in that case to accomodate overdemand, they are also possibly doing it with the new container 5yr loan.
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Post by ablrateandy on Feb 22, 2016 22:23:42 GMT
I'll leave David to talk about the specifics on the ATR loan.
In terms of containers, there are two dynamics at play :
1. Can I sustain a sensible LTV if I increase? Yes, because I simply buy more containers rather than buying the same number for more lender money. (Buy at c. 1050, sell substantially higher).
2. How safe is that LTV? That's something that we will discuss before we announce a final size and allocations. Our comfort zone was set at turning over £100k per month, hence the £600k total. At the moment, we have pledges that get well over that. Do I think that I can do an infinite amount and maintain margins? No. Could I still achieve strong margins at £110k or £120k per month? That's something that I need to discuss with the other partners in this transaction.
As part of the final terms we will reserve the right NOT to draw additional amounts if we think that we can't achieve the stated return. It's only upon acceptance of those terms and the final size that we expect people to commit. On the container loan it will be very much a "gentleman's agreement" for the later tranches. If people change their mind we would be happy to scale the business back accordingly. Part of the reason for not just throwing this up on the system was to strike the right balance of demand and our capabilities.
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james
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Post by james on Feb 22, 2016 23:13:38 GMT
On the container loan it will be very much a "gentleman's agreement" for the later tranches. If people change their mind we would be happy to scale the business back accordingly. Part of the reason for not just throwing this up on the system was to strike the right balance of demand and our capabilities. Or more likely you'd mention that some space has become available and see your inbox groan under the demand to participate. Given that you now have a wait list operating it's still worth people who want to participate letting you know so they get a chance if someone else drops out or cuts back how much they want to invest.
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Post by ablrateandy on Feb 22, 2016 23:18:35 GMT
I am balancing economics and demand. If I just went with demand, this job would be a lot easier
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james
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Post by james on Feb 22, 2016 23:20:44 GMT
When all investors have been making their investment based on a fixed loan value, with an expected sale price against a fixed asset, we therefore have an opportunity to calculate a nominal LTV from these figures. Ablrate changing the loan value arbitrarily at the end of the loan to 'accommodate stragglers' changes the dynamics of the loan. In this case 50k on 1.8m is unlikely to be significant but I would be interested to know Ablrate's view on whether they hold the option to change values for future loans. If you check the 22 Feb update email you'll find that the aircraft now has a lease agreement attached. That would logically be expected to increase the sale value. Having three different potential buyers means that the price being negotiated now may also be higher just due to competition between buyers. So the anticipated LTV now may really be lower than calculations based on the original description implied.
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gt94sss2
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Post by gt94sss2 on Feb 23, 2016 9:19:55 GMT
Thanks all We have extended it a touch to accommodate a few stragglers! Regards Ablrate Not trying to ruffle feathers but more a point of principle and a question regarding future loans. When all investors have been making their investment based on a fixed loan value, with an expected sale price against a fixed asset, we therefore have an opportunity to calculate a nominal LTV from these figures. Ablrate changing the loan value arbitrarily at the end of the loan to 'accommodate stragglers' changes the dynamics of the loan. Like Investor I am not tying to ruffle feathers as I believe that ablrate and ablrateandy are operating with the best of intentions - but as a layperson [i.e. its not my area of expertise] I do wonder if 'arbitrarily' changing an LTV like this once a loan has been advertised/filled is in keeping with the FCA's Treating Customers Fairly rules. The same might apply to the 5 year container loan where its not necessarily clear to me if Ablrate have met outcomes 2 and 3 given there are several basic questions which don't appear to have been answered (over taxation etc) and the impression I get that some potential investors knowing more as the information has not been publically released or is only going to be shared via e-mail. [Note: I prefer to ask these awkward if basic questions as I was want Ablrate to succeed and not have any problems with their FCA authorisation - I am not saying that they have broken any rules per se. ]
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