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  • FIRST POST
    jamesd
    P2P: Ablrate
    • #1
    • 2nd Aug 16, 7:21 PM
    P2P: Ablrate 2nd Aug 16 at 7:21 PM
    This is a discussion for things specific to the Ablrate peer to peer lending platform, to make it easier to find those as distinct from more general P2P discussions. More discussion is available at the P2P Independent Forum Ablrate section.

    Ablrate does a range of lending types that typically avoid the ubiquitous property development loans seen in the P2P world at the moment. Interest rates are typically 12% but have ranged from 10-15%. All loans are secured on some sort of physical asset.

    The platform received full FCA approval in March 2017, replacing its former interim approval.

    As of 1 April 2017 one borrower had defaulted and legal action on that default is proceeding.

    TOPICS: generic P2P, Ablrate, Lendy (formerly Saving Stream), MoneyThing.
    Last edited by jamesd; 16-04-2017 at 11:30 PM.
Page 4
  • jamesd
    do we have to pay when we buy loans on secondary market on ablrate?
    Originally posted by elephantrosie
    Nothing to Ablrate, just to the people you're buying the loan off.
  • jamesd
    Just a curiosity... how does Ablrate handle currency fluctuations?

    Say they advertise an aircraft loan at 10%. Ablrate investors deposit in GBP, but the price of the aircraft is in USD and the repayments are too. Let's say the dollar weakens by 20%. Now the investors are only getting a yield of 8% in GBP terms and there isn't enough capital to pay them back at the end.

    In the bond markets that's a risk investors face, but I don't see how it works in the Ablrate market which is strictly GBP. Do they fully hedge all of the currency risk?
    Originally posted by Plus
    Fully hedged and/or payment obligation in Pounds in anything long term that I've seen. Also fully disclosed.

    There is a five year container loan where the new buys are in dollars with, I think, no hedging normally, but those are many short term deals and those involved do know about currency issues and would protect if it seemed sensible. At the moment they have said that currency and steel price issues combined with sale prices make leasing more profitable and less risky than buying for resale, so plan to do that until things change. They also just returned about 19% of the originally invested money with the 15%+ interest on top and plan to return some more. Just because they don't want the money if they can't use it effectively.
    • takesyourchances
    • By takesyourchances 7th May 17, 10:58 PM
    • 427 Posts
    • 252 Thanks
    takesyourchances
    Bought into 3 loads this weekend on the SM on Ablrate so slowly getting a few built up. The site works well and got used to their system now, I will keep my eye out for new up coming loans. This is keeping me busy between MT and Collateral as well looking out for them all
  • jamesd
    Yes, do remember that the secondary market is the way to get invested quickly at Ablrate. Then do more as new loans come up, a few a month.

    You can get invested pretty quickly in 11% and loans at MoneyThing but mainly when a new loan will be going live in the next day or so. Then people do some selling and if you're fast you can buy. I bought about £14k over the last week that way. But Ablrate usually has those rates or better on its secondary market with less trouble. Worth using both places, though.
    • elephantrosie
    • By elephantrosie 12th May 17, 7:02 PM
    • 364 Posts
    • 102 Thanks
    elephantrosie
    Yes, do remember that the secondary market is the way to get invested quickly at Ablrate. Then do more as new loans come up, a few a month.

    You can get invested pretty quickly in 11% and loans at MoneyThing but mainly when a new loan will be going live in the next day or so. Then people do some selling and if you're fast you can buy. I bought about £14k over the last week that way. But Ablrate usually has those rates or better on its secondary market with less trouble. Worth using both places, though.
    Originally posted by jamesd
    thanks. i am on MT, collateral and ratesetter. i am waiting for new loans to pop up on ablrate.

    did you buy 14k worth of loans on secondary market of ablrate?
    Another night of thankfulness.
  • jamesd
    That was at MoneyThing. Looks as though there might be four new loans at Ablrate next week.
    • elephantrosie
    • By elephantrosie 12th May 17, 8:31 PM
    • 364 Posts
    • 102 Thanks
    elephantrosie
    That was at MoneyThing. Looks as though there might be four new loans at Ablrate next week.
    Originally posted by jamesd
    i see. yeah MT is really my favourite of all the p2p platforms.

    do you think p2p investment is riskier than stocks and shares?
    Another night of thankfulness.
    • elephantrosie
    • By elephantrosie 12th May 17, 8:37 PM
    • 364 Posts
    • 102 Thanks
    elephantrosie
    one question about ablrate. for those selling their loans on secondary market at less than 100% price, does that mean that they will be losing money?

    just trying to put myself in the same situation hypothetically
    Another night of thankfulness.
  • jamesd
    do you think p2p investment is riskier than stocks and shares?
    Originally posted by elephantrosie
    Not the lending type, if you pay some attention to what you're lending on.
  • jamesd
    one question about ablrate. for those selling their loans on secondary market at less than 100% price, does that mean that they will be losing money?

    just trying to put myself in the same situation hypothetically
    Originally posted by elephantrosie
    Probably, but sometimes there were bonus payments made at the time a new loan was issued. Not recently so you're not likely to encounter one of those. They could just need the money and be willing to take a small loss to encourage buyers.
    • elephantrosie
    • By elephantrosie 13th May 17, 1:20 PM
    • 364 Posts
    • 102 Thanks
    elephantrosie
    I have noticed that neither of the p2p websites that I have visited/ used actually give us information of the borrowers past credit history ie. returning history.

    or is it me only who couldn't find this info on the websites?
    Another night of thankfulness.
  • jamesd
    Ablrate normally provides a third party business credit report as part of the documents package.
    • elephantrosie
    • By elephantrosie 13th May 17, 4:54 PM
    • 364 Posts
    • 102 Thanks
    elephantrosie
    Ablrate normally provides a third party business credit report as part of the documents package.
    Originally posted by jamesd
    how about MT and collateral?
    Another night of thankfulness.
  • jamesd
    Those two don't. Ablrate is quite unusual and helpful in providing them. Unusual also in that Ablrate normally tell us the interest and charge split between lenders and them, they might be the only place routinely doing that. Helps us to better assess the risk because we can see what the borrower is paying.
    Last edited by jamesd; 13-05-2017 at 5:10 PM.
    • elephantrosie
    • By elephantrosie 14th May 17, 9:31 PM
    • 364 Posts
    • 102 Thanks
    elephantrosie
    am i right in interpreting email from ablrate that there will be four new loans available mid next week?
    Another night of thankfulness.
    • nushnush
    • By nushnush 14th May 17, 10:59 PM
    • 78 Posts
    • 50 Thanks
    nushnush
    am i right in interpreting email from ablrate that there will be four new loans available mid next week?
    Originally posted by elephantrosie
    if things go to plan, that looks like what they are saying
  • jamesd
    No surprise when loans take longer to show up than expected, just the price to pay for the checking work that's done.

    Two tips for Ablrate:

    1. Click on the next payment due date or amount and it'll show you a list of the future payments you're expected to receive for all of your loans.

    2. Debit card payments cost Ablrate 0.25% of the amount you pay in and that's money they can't pay us. If you get your payment sent before 9AM it'll probably arrive in your account within twenty minutes of nine. Similar before 6PM seeming to arrive soon after six. I don't have data yet for other times throughout the day.
    • elephantrosie
    • By elephantrosie 19th May 17, 7:39 PM
    • 364 Posts
    • 102 Thanks
    elephantrosie
    i see no new loans on ablrate this week? i thought they were supposed to arrive on thurs or fri?
    Another night of thankfulness.
    • takesyourchances
    • By takesyourchances 21st May 17, 2:40 PM
    • 427 Posts
    • 252 Thanks
    takesyourchances
    I bought couple more small chucks on the secondary market over the weekend and will have fresh funds this week so hopefully the new pipeline of loans start to appear.
  • jamesd
    i see no new loans on ablrate this week? i thought they were supposed to arrive on thurs or fri?
    Originally posted by elephantrosie
    Always just estimates. If you have a look at the MoneyThing pipeline announcements you'll see that it's common there for it to take a month or more with assorted delays from initial prospect to becoming available. Just the nature of things with checks and surveys and legal processes taking time to get done that isn't fully in their control. It's an issue for every platform that tries to be helpful by giving us some idea of what's coming to help us with our own planning. Giving us a clue and us recognising that it's just an estimate, not a guarantee, beats the alternative of not knowing.
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