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  • FIRST POST
    jamesd
    11% over 3 years from Ablrate P2P
    • #1
    • 19th Feb 15, 1:52 PM
    11% over 3 years from Ablrate P2P 19th Feb 15 at 1:52 PM
    The relatively new peer to peer lending platform Ablrate currently has an 11% loan offer over 3 years, all capital to be repaid at the end, none during the loan term. This is secured on an ATR 42-500 commuter aircraft that can carry from 40-52 passengers, worth around £3.5 million. The leasing firm Phoenix wants to replace their current finance deal because it would be much cheaper. The aircraft is currently leased by them to Columbian government owned airline Satena at a lease rate that is more than double the interest cost of the loan. Interest is set in Pounds, not the Dollars normally used in aircraft leasing, so there's no interest exchange rate risk. While the loan term is fixed, there is a secondary market that allows buying and selling loans, of course no guarantee that you'd find a buyer if you wanted to sell.

    If you like the rate, don't get carried away. You can expect another four or so similar loans in the next month and fifty plus over the next year, quite likely more. So do something like deciding how much you want to invest over the year then putting no more than 2% in each loan, for diversification. If something goes wrong with a loan it's much easier to be relaxed about it if it's 2% of the money rather than much more. Unless you have a high risk tolerance don't consider putting more than 25% of your money in P2P and ideally diversify so that no more than 5-10% is at one P2P platform.

    Since this is peer to peer there is no FSCS protection, though the FOS does cover P2P.

    I'm mentioning this because I think that Ablrate has one of the better P2P propositions. There's more discussion over at the P2P Independent Forum and you can read the full loan proposal document.
Page 5
    • TheTracker
    • By TheTracker 29th Aug 17, 2:51 PM
    • 1,122 Posts
    • 1,113 Thanks
    TheTracker
    I've pledged a small amount against AC on Seedrs, but afraid it's lower than otherwise due to lack of p&l information available plus I'm not a huge fan of convertible loans. I also expect the other platforms to go down the same route. which will win? Will post back in 2 years with results
    Originally posted by TheTracker
    2 years was not enough for results. The trigger event (significant series of fund raising) for the convertible never happened. Instead equity was released at a longstop of 2 years. Fair valuation of about +35%, a healthier balance sheet, and EIS in effect so still good signs. Just have to hold another 3 years then hope there is a way to sell. So, just a tale that with crowdfunding and EIS one must be in it for the long haul and be willing to accept total loss.
    • Bazofts Revenge
    • By Bazofts Revenge 31st Aug 17, 6:39 PM
    • 294 Posts
    • 149 Thanks
    Bazofts Revenge
    Anyone else missed out on the new loan that went up at 4pm today. It was fully subscribed when I logged in at just after 6pm. Hope we don't get too many like that or else I'll have to move elsewhere. Can't be accessing non work sites whilst working.
    Solar PV cost £5760 (15/03/13)
    FIT inc + Electricity saved £3746 (65% Paid back) Tax free
    Last update 30/09/17
    • nushnush
    • By nushnush 31st Aug 17, 7:59 PM
    • 78 Posts
    • 50 Thanks
    nushnush
    Anyone else missed out on the new loan that went up at 4pm today. It was fully subscribed when I logged in at just after 6pm. Hope we don't get too many like that or else I'll have to move elsewhere. Can't be accessing non work sites whilst working.
    Originally posted by Bazofts Revenge
    i think they plan on adding loan restrictions but didn't with this one as they never expected it to fill so quickly with it being a short term loan
    • takesyourchances
    • By takesyourchances 31st Aug 17, 8:16 PM
    • 431 Posts
    • 255 Thanks
    takesyourchances
    Anyone else missed out on the new loan that went up at 4pm today. It was fully subscribed when I logged in at just after 6pm. Hope we don't get too many like that or else I'll have to move elsewhere. Can't be accessing non work sites whilst working.
    Originally posted by Bazofts Revenge
    Yes, same problem, by the time I got home from work it was gone. Unable to deal with it at 4pm working. It is a short duration, would of been more annoyed had it been a longer duration loan. I was surprised to see it fill so quickly!
    • Drp8713
    • By Drp8713 31st Aug 17, 10:16 PM
    • 746 Posts
    • 617 Thanks
    Drp8713
    I didnt have any uninvested cash on account, and for only three months I didnt feel it was worth investing any more.

    I also have a few hundred in the yacht and I dont want too many loan with very mobile security!
    • Bazofts Revenge
    • By Bazofts Revenge 31st Aug 17, 11:46 PM
    • 294 Posts
    • 149 Thanks
    Bazofts Revenge

    I also have a few hundred in the yacht and I dont want too many loan with very mobile security!
    Originally posted by Drp8713
    I was glad to see the Yacht is paying back capital monthly. Wouldn't want it to just disappear with 1 month left to go and the full loan still outstanding.
    Solar PV cost £5760 (15/03/13)
    FIT inc + Electricity saved £3746 (65% Paid back) Tax free
    Last update 30/09/17
    • bigadaj
    • By bigadaj 1st Sep 17, 2:25 PM
    • 10,290 Posts
    • 6,603 Thanks
    bigadaj
    I was glad to see the Yacht is paying back capital monthly. Wouldn't want it to just disappear with 1 month left to go and the full loan still outstanding.
    Originally posted by Bazofts Revenge

    Sailing off into the sunset maybe?


    It's got a tracker apparently so can be monitored, maybe they'll be fitting trailers with a tracker as well (and any future containers?).
    • TheTracker
    • By TheTracker 1st Sep 17, 7:08 PM
    • 1,122 Posts
    • 1,113 Thanks
    TheTracker
    It's got a tracker apparently so can be monitored, maybe they'll be fitting trailers with a tracker as well (and any future containers?).
    Originally posted by bigadaj
    Hmm ... would rather be on the yacht.
    • Drp8713
    • By Drp8713 19th Sep 17, 2:18 PM
    • 746 Posts
    • 617 Thanks
    Drp8713
    New loan due in the next 15 minutes or so.

    New borrower, 3 years @ 14% amortising. Lots of security it seems.

    Will see what the borrowing proposal says, but if all is well I will go with my usual £100 plus reinvest any interest from other loans as it comes in (assuming this one doesnt get snapped up within minutes).
    • Bazofts Revenge
    • By Bazofts Revenge 19th Sep 17, 2:32 PM
    • 294 Posts
    • 149 Thanks
    Bazofts Revenge
    When you reinvest as interest and capital is repaied do they calculate the instant returns separately for each installment? I haven't done it yet as a little wary.
    Solar PV cost £5760 (15/03/13)
    FIT inc + Electricity saved £3746 (65% Paid back) Tax free
    Last update 30/09/17
    • Drp8713
    • By Drp8713 19th Sep 17, 2:43 PM
    • 746 Posts
    • 617 Thanks
    Drp8713
    Loan 80 (nearly full) is the first one I have dripped into, I put in £100 to start and have £182 in there now, so when I get my instant return I will let you know if each tranche I invested gets a different return, but I assume it will.

    New loan looks good 40% LTV.
    • Bazofts Revenge
    • By Bazofts Revenge 19th Sep 17, 3:05 PM
    • 294 Posts
    • 149 Thanks
    Bazofts Revenge
    Just shoved £100 in on the new loan. £20 that was in my account and £80 new money. Love the amoritising loans.
    Solar PV cost £5760 (15/03/13)
    FIT inc + Electricity saved £3746 (65% Paid back) Tax free
    Last update 30/09/17
    • JohnRo
    • By JohnRo 19th Sep 17, 3:25 PM
    • 2,431 Posts
    • 2,189 Thanks
    JohnRo
    Hmm ... would rather be on the yacht.
    Originally posted by TheTracker
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • Drp8713
    • By Drp8713 19th Sep 17, 3:48 PM
    • 746 Posts
    • 617 Thanks
    Drp8713
    The chaps at P2P forum dont seem to be overly keen on this borrower's previous dealings. I think that explains the high return vs low LTV. Ablrate must be aware of this you would think as the fact a previous company way liquidated is in the propsal.

    From what I can see there seems to be enough security there with holdings in several companies, plus the asset, plus the personal property etc. Im still gonna drip into this one.

    Time will tell if thats wise!
    • TheShape
    • By TheShape 19th Sep 17, 6:12 PM
    • 1,044 Posts
    • 802 Thanks
    TheShape
    When you reinvest as interest and capital is repaied do they calculate the instant returns separately for each installment? I haven't done it yet as a little wary.
    Originally posted by Bazofts Revenge
    Each separate investment will have instant returns calculated separately for the period of time that they were invested before the loan closes/draws down.

    Example from my own account history below:

    30/08/2017 17:03 Instant returns £0.38 £186.73 Instant Return payment for £52.00 invested on Derwenthaugh Ecoparc III for 19 days.
    30/08/2017 17:03 Instant returns £1.01 £186.35 Instant Return payment for £146.00 invested on Derwenthaugh Ecoparc III for 18 days.
    30/08/2017 17:03 Instant returns £0.43 £185.34 Instant Return payment for £63.00 invested on Derwenthaugh Ecoparc III for 18 days.
    30/08/2017 17:03 Instant returns £1.83 £184.90 Instant Return payment for £239.00 invested on Derwenthaugh Ecoparc III for 20 days.
    • Drp8713
    • By Drp8713 4th Oct 17, 7:17 PM
    • 746 Posts
    • 617 Thanks
    Drp8713
    What do people think of the Ablrate update on 82?

    It all sounds very plausable, but still not sure, will get the instant returns then see.

    Based on it still filling fast there shouldnt be a problem getting out at par on the SM if you only invest in £100 chunks like me.
    • elephantrosie
    • By elephantrosie 5th Oct 17, 11:12 PM
    • 365 Posts
    • 102 Thanks
    elephantrosie
    i have no more money to invest!! so not touching most new loans now
    Another night of thankfulness.
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