agent69
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Post by agent69 on Feb 2, 2014 12:47:59 GMT
Just started lending with Ratesetter.
I've had a look through the FAQ's but can't find anything about repayments. I know on the 3 and 5 year loans you get monthly repayments, but how does it work. Are all payments made at the same time of the month (like TC) or is it just monthly depending on the date the loan was taken out?
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duck
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Post by duck on Feb 2, 2014 13:01:07 GMT
Depends on the repayment schedule. If you click on 'my portfolio' and then 3yr or 5yr then the + sign on 'on loan' you will then see your investments in that area. Click 'view' on the individual loan you want to look at and you will see the schedule of repayments.
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agent69
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Post by agent69 on Feb 2, 2014 13:33:33 GMT
Depends on the repayment schedule. If you click on 'my portfolio' and then 3yr or 5yr then the + sign on 'on loan' you will then see your investments in that area. Click 'view' on the individual loan you want to look at and you will see the schedule of repayments. Thanks for that. Seems a bit of a lottery when the first payment arrives (2 loans made on 30th have different repayment dates), but all settles down after that
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duck
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Post by duck on Feb 2, 2014 14:59:10 GMT
That's normal, the important thing is that they all come in on the scheduled time either through repayment or the fund - no waiting around. If you keep a repayment spreadsheet (as I do) you will know what days you need to log on to re-invest if again like me you prefer to manually put your offers in. I take this approach so that if the rate is too low for my liking I can offer in a different market and avoid any low troughs.
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mikeb
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Post by mikeb on Feb 2, 2014 20:50:33 GMT
If you keep a repayment spreadsheet (as I do) you will know what days you need to log on to re-invest if again like me you prefer to manually put your offers in. If you keep recycling your capital/interest repayments back into new loan offers as soon as it breaches the £10 limit, eventually you'll end up with so many loan-chunks that repayments come in every day. So any day is a potential lending day. No "1st of the month" spike as at Zopa (although that's smoothing out now).
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