beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
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Post by beagle on Aug 7, 2020 9:27:03 GMT
They let it expire and mature. loans repay, we take our money or not if there are losses. we log off and we log out of the forum I agree but in that case shouldn't they start by putting all repaid capital and interest into the holding account rather than lending it out to RYIs? as mentioned tey still have loans to fulfill and until that is done they will not
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aju
Member of DD Central
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Post by aju on Aug 7, 2020 9:30:59 GMT
why are you still arguing this? People can have an opinion and your one is that is savings. End of story Because, beagle, the number crunchers and Warren Buffets on this forum are blaming people who choose the Access product for not reading or understanding the T&C's. When infact they themselves are getting the basic definition between the words Investments and savings wrong. Due to extreme nature of current event RS should have held their hands up and made one que from the three products and dealt with them on the basis of when yo requested you money. And as for:- why are you still arguing this? this is a discussion forum where these kind of things are aired. the whole point is that most of the people in the Access product signed into it because it clearly said Access in a reasonable time. The pandemic has obviously put paid to the reasonable time aspect of the statement. iRobot, I read and completely accept the warning you have highlighted. Perhaps we should all watch the excellent 80's sitcom, "Ever decreasing circles", just another thought!
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bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
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Post by bt on Aug 7, 2020 10:01:45 GMT
Forgive my ignorance, but if they are winding down the loan book, why are they taking on new lending ?
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Post by Deleted on Aug 7, 2020 10:13:07 GMT
Forgive my ignorance, but if they are winding down the loan book, why are they taking on new lending ? The deal with Metro Bank includes an earn out. That means the price depends on future earnings, so RS will be keen to maximise it as much as it can (and possibly by whatever means?).
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chris1200
Member of DD Central
Posts: 827
Likes: 508
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Post by chris1200 on Aug 7, 2020 10:22:11 GMT
Forgive my ignorance, but if they are winding down the loan book, why are they taking on new lending ? The deal with Metro Bank includes an earn out. That means the price depends on future earnings, so RS will be keen to maximise it as much as it can (and possibly by whatever means?). Although this likely kicks-in after completion and relates to Metro Bank-funded lending, not the current model of lending (with us funding it). Nevertheless, given that it appears Metro Bank will be retaining the RS branding and presence, clearly shutting up shop right now would not be good for business going forward; so there are likely some terms related to this in their agreement (i.e. to continue lending - potentially at a certain level). Moreover, the deal is still subject to regulatory approval; and if it doesn't work out, RS would have rather shot themselves in the foot by shutting up shop now. Basically any wind-down of the current model likely won't begin until the deal is done and dusted (or perhaps very shortly before).
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macq
Member of DD Central
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Post by macq on Aug 7, 2020 10:23:45 GMT
Forgive my ignorance, but if they are winding down the loan book, why are they taking on new lending ? I would assume until the deal is done and it becomes a legacy product they run down ,hat they have to try and run as a business just in case the tie-up falls through p.s crossed with the better and longer answer above
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macq
Member of DD Central
Posts: 1,924
Likes: 1,192
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Post by macq on Aug 7, 2020 10:25:56 GMT
Because, beagle, the number crunchers and Warren Buffets on this forum are blaming people who choose the Access for not reading or understanding the T&C's. When infact they are getting the basic definition between Investments and saving wrong. Due to extreme nature of current event RS should have held their hands up and made one que from the three products and dealt with them on the basis of when yo requested you money. And as for:- why are you still arguing this? this is a discussion forum where these kind of things are aired. the whole point is that most of the people in the Access product signed into it because it clearly said Access in a reasonable time. The pandemic has obviously put paid to the reasonable time aspect of the statement. iRobot, I read and completely accept the warning you have highlighted. gar nothing will change, maybe get a coffee and relax. Decaf?
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chris1200
Member of DD Central
Posts: 827
Likes: 508
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Post by chris1200 on Aug 7, 2020 10:26:09 GMT
Forgive my ignorance, but if they are winding down the loan book, why are they taking on new lending ? I would assume until the deal is done and it becomes a legacy product they run down ,hat they have to try and run as a business just in case the tie-up falls through p.s crossed with the better and longer answer above You're too kind!
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Post by Deleted on Aug 7, 2020 10:56:45 GMT
The deal with Metro Bank includes an earn out. That means the price depends on future earnings, so RS will be keen to maximise it as much as it can (and possibly by whatever means?). Although this likely kicks-in after completion and relates to Metro Bank-funded lending, not the current model of lending (with us funding it).Nevertheless, given that it appears Metro Bank will be retaining the RS branding and presence, clearly shutting up shop right now would not be good for business going forward; so there are likely some terms related to this in their agreement (i.e. to continue lending - potentially at a certain level). Moreover, the deal is still subject to regulatory approval; and if it doesn't work out, RS would have rather shot themselves in the foot by shutting up shop now. Basically any wind-down of the current model likely won't begin until the deal is done and dusted (or perhaps very shortly before). You could well be right, but surely the earn-out wouldn't increase the price based on earnings that are funded by Metro? Wouldn't that be a disincentive for Metro to lend during the earn-out period?
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chris1200
Member of DD Central
Posts: 827
Likes: 508
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Post by chris1200 on Aug 7, 2020 11:06:51 GMT
Although this likely kicks-in after completion and relates to Metro Bank-funded lending, not the current model of lending (with us funding it).Nevertheless, given that it appears Metro Bank will be retaining the RS branding and presence, clearly shutting up shop right now would not be good for business going forward; so there are likely some terms related to this in their agreement (i.e. to continue lending - potentially at a certain level). Moreover, the deal is still subject to regulatory approval; and if it doesn't work out, RS would have rather shot themselves in the foot by shutting up shop now. Basically any wind-down of the current model likely won't begin until the deal is done and dusted (or perhaps very shortly before). You could well be right, but surely the earn-out wouldn't increase the price based on earnings that are funded by Metro? Wouldn't that be a disincentive for Metro to lend during the earn-out period? Yes indeed there is often the potential for the tension you specify, but this is basically always how earn-outs work (i.e. calculated post-acquisition). The buyer will almost always have a strong interest in the business doing well during the earn-out period too, but all of this should be taken into account when negotiating the clause(s).
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Post by gar on Aug 7, 2020 11:24:23 GMT
gar nothing will change, maybe get a coffee and relax. Decaf? LOL, macq & beagle, "Won't be much to talk about soon.... (RS)"
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coogaruk
Hello everyone! Anyone remember me?
Posts: 705
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Post by coogaruk on Aug 7, 2020 11:28:33 GMT
Investing is buying assets such as stocks, bonds, mutual funds or real estate with the expectation that your investment will make money for you. Investments usually are selected to achieve long-term goals. Generally speaking, investments can be categorized as income investments or growth investments. If I had wanted to invest I would have signed up with T D Waterhouse or my banks share dealing department and studied the FT periodically. Worth noting the word ACCESS in bold on the savings sentence, where have I seen that before? You demonstrate and amplify your lack of understanding with each and every post you make. Please stop.
P2P fits admirably with your given examples of investing, albeit not perfectly.
When you signed up with RS you signed up as an investor. You are entitled to argue that till the cows come home but it won't alter the fact.
I have some sympathy regarding the naming of the Access acount, I agree that is RS's bad.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 705
Likes: 464
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Post by coogaruk on Aug 7, 2020 11:33:30 GMT
i think you need to check out winding down the loan book vs wind down/administration I am referring to winding down the loan book. How are they going to wind it down? Same way as I'm winding it down. Naturally, over the duration of each loan.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 705
Likes: 464
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Post by coogaruk on Aug 7, 2020 11:36:17 GMT
They let it expire and mature. loans repay, we take our money or not if there are losses. we log off and we log out of the forum Yes that's what I thought until it occurred to me that Access does not work that way. Yes it does. Think about it for a moment.
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Post by gar on Aug 7, 2020 11:43:47 GMT
You demonstrate and amplify your lack of understanding with each and every post you make. Please stop.
NO, stop responding if you don't like it. Check out the definition of Investments and Savings and educate your understanding before spouting off, You describe yourself as an Antagonist, I wonder why. ****END***
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