aju
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Post by aju on Jan 27, 2021 18:46:02 GMT
I assumed that there will be considerable people who want to get out and they will be furnished by the number who would still be investing if there are any there must be surely be a few!. To be honest once we made the decision to sell up I've not even bothered to sign the required papers that i understand what i am doing and i haven't tried to lend at this time either to find out if the system will let me lend anyway. Haven't actively lent on RS or Zopa for that matter for nearly a year now. I'm not sure what the RS rates are these days, at least soon the rates will be as shown on screen but I'm guessing there will not be the higher rates that i'd be more comfortable lending at anyway. Edit: just checked the churn is nearly 8M this week so far 12M last week so someone is lending/relending still, I agree its only internal sales generating the churn if there is no borrowers loans being entered into the affray. Edit2: So i've spent the last hour with a monitor on the lending and borrowing on Access - I assume it most active if any of them are - I went away for a while so i haven't actually seen any borrowers offers appear but but I did notice that the 2.3% it was 20/30 minutes ago is now moved up to 2.7% with £700.51 on offer. Now this is fag packet and would be better if i could see the lending offers coming in as well but for me one could if one lent at the right level < 2.5% at the minute say would snap up an market returns appearing I feel. As i was typing this edit a 2.4% lender offer came on - still no borrowers but as I say since there are no new borrowers not sure if they would show anyway. i'm assuming now that these are re-lends just finished and picking up sold funds. This is churn so maybe borrowers don;t appear in the list - haven't seen any as such save your time and stop researching a done deal thanks, I wasn't actually doing that much just set up tracker in the left of my screen and watched it for a while whilst i was doing other work, i 'd stopped it after I wrote the last edit.
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Post by df on Jan 27, 2021 19:01:46 GMT
there is no ratesetter investment anymore, all you will do if you invest is join a glut of funds not being matched. there is nothing to lend to as all markets are liquid. - why bother Indeed. There is £30million plus sitting in the market currently (must be a good reason beyond my comprehension) so pretty sure any RYI will be dealt with fairly quickly. Doubt you could match if you tried (I might out of idle curiosity when my next payment is received). Bonus that is welcome in my case, I could never bring myself to take the hit for fees on 5 Year and hopefully now they will give a full return until completion. Fortune favoring the brave/stupid apparently. I've decided to go "brave" and unwillingness to pay fees was part of that decision. Reduction of interest brought it down to 3%, but then in current conditions it's a decent return, so I've decided not to action. Since the change, my RS exposure has reduced by approx 50% anyway (recently had a large early repayment from 5 year) - nice to see the interest back, hopefully it will all go smooth and I'll enjoy 6% interest on what is left for the next 4 years.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jan 27, 2021 20:32:15 GMT
Indeed. There is £30million plus sitting in the market currently (must be a good reason beyond my comprehension) so pretty sure any RYI will be dealt with fairly quickly. Doubt you could match if you tried (I might out of idle curiosity when my next payment is received). Bonus that is welcome in my case, I could never bring myself to take the hit for fees on 5 Year and hopefully now they will give a full return until completion. Fortune favoring the brave/stupid apparently. I've decided to go "brave" and unwillingness to pay fees was part of that decision. Reduction of interest brought it down to 3%, but then in current conditions it's a decent return, so I've decided not to action. Since the change, my RS exposure has reduced by approx 50% anyway (recently had a large early repayment from 5 year) - nice to see the interest back, hopefully it will all go smooth and I'll enjoy 6% interest on what is left for the next 4 years. I doubt there will be much left in 4 years (or even one year). The fees for selling out weren't that big and loss of 50% interest for several months probably covered most of the selling fees, so worth getting out assuming you had somewhere good to put the funds.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Jan 28, 2021 8:25:37 GMT
I've decided to go "brave" and unwillingness to pay fees was part of that decision. Reduction of interest brought it down to 3%, but then in current conditions it's a decent return, so I've decided not to action. Since the change, my RS exposure has reduced by approx 50% anyway (recently had a large early repayment from 5 year) - nice to see the interest back, hopefully it will all go smooth and I'll enjoy 6% interest on what is left for the next 4 years. I doubt there will be much left in 4 years (or even one year). The fees for selling out weren't that big and loss of 50% interest for several months probably covered most of the selling fees, so worth getting out assuming you had somewhere good to put the funds. I agree - www.ratesetter.com/invest/statisticsIt would seem an average of 17 months and well this data is also retrospective too so the funds under management is likely to be circa £400 mil. I think at the rate it has dropped and the 0 lending for retail this will be less than 200 mil by Christmas. You might be one of the last standing but by then I am sure ratesetter will have sold off this problem to someone else.
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Post by Deleted on Jan 28, 2021 8:51:14 GMT
I just wish they'd let those of us with a few loans in the 5 year market that are under £10 cash them in and close our accounts.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 28, 2021 8:55:11 GMT
I just wish they'd let those of us with a few loans in the 5 year market that are under £10 cash them in and close our accounts. fair point. i would complain about that - i did and got mine
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Post by Deleted on Jan 28, 2021 9:30:57 GMT
I just wish they'd let those of us with a few loans in the 5 year market that are under £10 cash them in and close our accounts. fair point. i would complain about that - i did and got mine When was that exactly? You said on 14 Jan in the post below that you had received your £2,500,000 back. p2pindependentforum.com/post/416223/thread
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
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Post by beagle on Jan 28, 2021 10:11:22 GMT
yes i did, and there were inevitably some sub £10 contracts here and there. i did it last year (Nov) (i ended up with some stuck funds) that cleared mid Jan when the liquidity seemed to catch up
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 28, 2021 10:28:58 GMT
inv11 - i direct messaged you.
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