P2P: Ablrate

jamesd

There's £3,000 of the car dealer stocking loan 1000038 available from the secondary market at 99.95%, a 0.05% discount, paying an AER equivalent of 12.713% at the moment. Unusual, probably someone keen to sell to do some ISA or VCT buying before the end of the tax year.

bowlhead99

jamesd wrote: »

Unusual, probably someone keen to sell to do some ISA or VCT buying before the end of the tax year.

Not yours then James?

I see Pembroke and Foresight have a few VCTs open between them at £3000 minimums ; Foresight's in particular only being launched in the last few days and only for small top-up fundraisings - perhaps somewhat opportunistically having seen many other VCT offers in the market including their main one close fully subscribed.

Off topic for this thread, just an observation.

jamesd

That's not mine. I'd rather buy at that price than sell but have my own end of year things to be getting on with or I'd have bought it all myself. I did the majority of my own end of year selling over the last month to avoid any end of year pressure and mostly completed it with a bit of selling at MoneyThing last night. Still do have some offers to sell at Ablrate but not at that sort of price.

Yes, still a few VCT opportunities around. Could well be right about Foresight seeing an opportunity. What do you make of the currently open VCT offers? I still have a bit of VCT buying to do and any thoughts from you would be interesting.

bowlhead99

jamesd wrote: »

I'd rather buy at that price than sell but have my own end of year things to be getting on with or I'd have bought it all myself.

That's pretty much exactly how I would be pitching it, if trying to offload it all quickly without any material discount

jamesd

The rules of this place mean I'd have had to declare it if it was mine, self-interest disclosure. Though since whoever is doing it is selling at a small loss, not a profit, might not be needed, I suppose.

If it is still around on 6 April at that price I will be buying it. Not likely to stick around that long, though.

masonic

jamesd wrote: »

There's £3,000 of the car dealer stocking loan 1000038 available from the secondary market at 99.95%, a 0.05% discount, paying an AER equivalent of 12.713% at the moment. Unusual, probably someone keen to sell to do some ISA or VCT buying before the end of the tax year.

Thanks, taken a small nibble. I hold a lot of connected loans, so don't want to increase my exposure to this borrower too much.

Given that this borrower is now using a white label version of the Ablrate platform to offer business to business loans, I imagine we won't see much more from them in the future.

TheShape

jamesd wrote: »

There's £3,000 of the car dealer stocking loan 1000038 available from the secondary market at 99.95%, a 0.05% discount, paying an AER equivalent of 12.713% at the moment. Unusual, probably someone keen to sell to do some ISA or VCT buying before the end of the tax year.

Some offered at 99.900% now among 3 loans below par and two other at 100% although I had all but 0.05 of one of those. Having paid well over par for a number of loans when I first joined the platform to get diversified I've learned to wait for the better offers to come up.

I'm fighting the urge to reach for the Debit Card. From being very hesitant to deposit an initial £100 in p2p approx six weeks ago I've got the p2p bug. The shiny things on Collateral keep calling me.

jamesd

Heh, unlike some things it's a form of "spending" that can be profitable. So many attractive possibilities to buy.

Buying above par to get lots of money invested initially makes sense. For investing regular monthly income the time cost of waiting is lower so waiting for new issues or trying to buy at a discount might do the job. Depends in part on just how much money you're trying to get invested. I do both, depends on what I'm after at the time.

TheShape

jamesd wrote: »

Heh, unlike some things it's a form of "spending" that can be profitable. So many attractive possibilities to buy.

Buying above par to get lots of money invested initially makes sense. For investing regular monthly income the time cost of waiting is lower so waiting for new issues or trying to buy at a discount might do the job. Depends in part on just how much money you're trying to get invested. I do both, depends on what I'm after at the time.

I'm very much a small investor. My initial investments were only a few hundred pounds. My total p2p investments are still only around the £5k mark across Ablerate, MoneyThing, Collateral, FundingSecure and LendingWorks. This equates to around 8% of my investments excluding pension.

I imagine I'm still in the initial stage where everything is still new and exciting.

I need to work out a sensible balance between money to p2p and money towards my S&S ISA. I'll be making a lump sum deposit that will put that (S&S ISA) at about 20% but I'm not certain how much/what percentage of new money to devote to each going forward.

jamesd

Ablrate is now fully authorised by the FCA, removing one platform risk factor. Joins MoneyThing which received authorisation on 24 March.