P2P: Ablrate

jamesd

With Ablrate so far it's generally been OK to just spread the money around. There have been reasons to prefer some loans to others but all are decent enough.

There's no major reason to like one more than the other, just the later end date in the new one. Reduced offer prices are perhaps some people wanting to reduce car loan exposure or some trying to diversify across both parts. No direct security advantage to that but if you want to sell sometime you might experience a different market just because different people invested and that might cause one part to sell faster than the other.

Drp8713

Thanks James. I am going to start filling my boots in the secondary market then and try to get as much of the £2k invested as soon as possible.

Are you adverse to paying the small premiums on some secondary loans?

It seems better to pay the premium as the interest rates more than cover it, as opposed to sitting in cash at 0%?

TheShape

One thing to be aware of on Ablerate is the limited number of borrowers. The Basket of Secured loans (1,2 and 3) are the same borrower as two of the newer car loans. A lot of the other loans are to the same companies or groups of companies. It's something I keep in mind when lending.

Bazofts_Revenge

I was a bit shocked that they put a minimum limit of 2K on opening an ISA. I only joined 2 months ago and have £800 invested split in £50 chunks in different loans. Probably won't bother with the ISA straightaway as I am well inside the £1000 interest allowance. I was hoping to put any new loans straight in the ISA and then re-invest repayments and interest from the normal accounts.

takesyourchances

I think reading on the P2P forum that was an error stating £2000 to open the ISA. I opened the ISA yesterday and so far have just put £300 in it and matched it to loans.

Has anyone invested in the new loan today? It is filling quick with a few mixed opinions on the P2P forum.

I put just £100 into it adding to the new ISA as I had already put into other loans this week across P2P so that was my lot for this week.

Bazofts_Revenge

I put £50 in the new loan it is currently 76.5% filled.

takesyourchances

Bazofts_Revenge wrote: »

I put £50 in the new loan it is currently 76.5% filled.

It is certainly filling very quickly from launch at 4pm!

Looking foreard to more new loans appearing to get into the ISA as well.

elephantrosie

are we only allowed one IFISA per year?

justme111

I asked for clarification on p2p forum. My understanding we can open as many as we like but we can fund only one. So my plan was to open one with free transfer out , fund it then open others and fund them by transferring from IFISA I funded ( and keep funding if I have money and there are appealing propositions). Hopefully they will confirm I am right.

elephantrosie

am i right that there is transfer out fee in ablrate