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Post by aidanw on Mar 11, 2020 12:35:22 GMT
I also requested £5,000 from "Access" yesterday morning and have had nothing released yet after 24 hours waiting. None of the contract dates are from this week. And still waiting 48hrs later.... Q: "What's the current "release your investment" queue time?" A: "As the time-frame for your funds to be released is subject to market liquidity, another investor must first be available to carry on the contracts you are releasing. Due to this, we are unable to offer a time-frame in which this will be completed and instant access is not guaranteed." Clearly there is no market liquidity at present.
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Post by gravitykillz on Mar 11, 2020 12:52:46 GMT
I also requested £5,000 from "Access" yesterday morning and have had nothing released yet after 24 hours waiting. None of the contract dates are from this week. And still waiting 48hrs later.... Q: "What's the current "release your investment" queue time?" A: "As the time-frame for your funds to be released is subject to market liquidity, another investor must first be available to carry on the contracts you are releasing. Due to this, we are unable to offer a time-frame in which this will be completed and instant access is not guaranteed." Clearly there is no market liquidity at present. There is liquidity but not as much as normal due market conditions. But look at the bright side this means there is more chance of ridiculously high rates for those looking to invest in the long term.
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IFISAcava
Member of DD Central
Posts: 3,665
Likes: 2,989
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Post by IFISAcava on Mar 11, 2020 12:59:05 GMT
Don't like this reduced liquidity. Have requested the release of the rest of my Ratesetter investment. Small sell out fee. Happy to sit things out for a while and return as and when.
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Post by aidanw on Mar 11, 2020 13:52:07 GMT
And still waiting 48hrs later.... Q: "What's the current "release your investment" queue time?" A: "As the time-frame for your funds to be released is subject to market liquidity, another investor must first be available to carry on the contracts you are releasing. Due to this, we are unable to offer a time-frame in which this will be completed and instant access is not guaranteed." Clearly there is no market liquidity at present. There is liquidity but not as much as normal due market conditions. But look at the bright side this means there is more chance of ridiculously high rates for those looking to invest in the long term. You don't find those ridiculously high rates have a tendency of repaying early?
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Post by aidanw on Mar 11, 2020 13:55:28 GMT
Don't like this reduced liquidity. Have requested the release of the rest of my Ratesetter investment. Small sell out fee. Happy to sit things out for a while and return as and when. Yes I also sold out half my 5 year yesterday too, no doubt it is in the queue somewhere so won't be in my bank until next week now....
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Post by gravitykillz on Mar 11, 2020 14:24:59 GMT
I sold some as well. Thinking will get the funds on Friday
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Post by gravitykillz on Mar 11, 2020 14:25:54 GMT
May as well sell as well
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Post by aidanw on Mar 11, 2020 15:57:05 GMT
Q: Surely though you can tell me when the most recently released contracts were requested to be liquidated giving me a backwards looking timeframe? A: We are unable to provide this information. As mentioned, we are unable to provide any time-scales when you request to release your investment.
Unable or unwilling?
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Post by gravitykillz on Mar 12, 2020 12:01:21 GMT
I released around £750 yesterday afternoon to test the liquidity. Still not recieved the funds in my holding account. Liquidity really must be bad. I am not worried though as I am sure they will release funds within a week. Had to wait a week on landbay as well one time a year ago and that was in normal market conditions.
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Post by gravitykillz on Mar 12, 2020 12:05:25 GMT
I wonder how bad all this market turmoil will have on p2p lending? I for one am not lending any more funds in general planning to invest in equities as they are starting to look very attractive. I want to invest for 5 years so this may be a good time to buy.
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Post by Deleted on Mar 12, 2020 12:09:20 GMT
Personal loans are on hold:
We are temporarily not accepting new loan applications due to high levels of demand.
I think RateSetter should manage communications a lot better.
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benaj
Member of DD Central
Posts: 4,884
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Post by benaj on Mar 12, 2020 12:17:29 GMT
IMHO, RYI speed varies and within 5 working days is not too bad at all. The longest RYI time I experienced was 2 weeks to receive funds sometimes last year. It's still much better than the 1.25% club
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Post by aidanw on Mar 12, 2020 12:34:05 GMT
Ok so the 5 year RYI which I requested Tuesday evening has now been paid. But still waiting for my Access RYI which I requested earlier on Monday.
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Post by Deleted on Mar 12, 2020 12:47:30 GMT
Ok so the 5 year RYI which I requested Tuesday evening has now been paid. But still waiting for my Access RYI which I requested earlier on Monday. And the Access/Plus/Max are supposed to have better liquidity - guess it depends on the demand for RYI which may be higher in A/P/M.
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Post by aidanw on Mar 12, 2020 12:49:02 GMT
Personal loans are on hold: We are temporarily not accepting new loan applications due to high levels of demand. I think RateSetter should manage communications a lot better. I think it's a default sorry screen. Although the lending queue has now run dry. System has been a little slow all morning so maybe they are upgrading?
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