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Post by ruralres66 on Sept 21, 2020 17:44:56 GMT
Just for clarity, setting your required rate to the max only prevents interest, amortising payments and end-of-loan full repayments from being used to buy loans from those at the front of the RYIQ. Most of the "repayments" that you see are immediately lent out again to the same loan because it has not (fully) repaid. You will not get all your money out until either the last loan you hold repays at term or you reach the front of the RYIQ and sell your loans to some sucker who does not realise what is happening and has not set his rate to max thinking that RYI was the way to get out. Lenders who you describe as 'suckers' obviously have not necessarily applied due diligence to the P2P risks and situation both past and present. Sadly it requires time and effort to learn and read what is under the label, especially in a new funding finance market.
This forum has helped enormously and I am very grateful for all the advice, opinion and debate. I do wince a bit at the hostility and animosity sometimes expressed, but on the whole most contributors are good natured, helpful and not too judgmental.
I check comments everyday, then I make up my own mind and act accordingly. As a result I have managed my RYI quite well, and in balance feel P2P was an experiment worth the effort for some 8 years or so. But no more. It's safe habours now for me! Covid compliant!
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Post by ruralres66 on Sept 19, 2020 19:47:06 GMT
".... simply set your interest rate to 20%. ..."
RS don't allow that level of interest to be set. They have a cut off limit,
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Post by ruralres66 on Sept 18, 2020 8:38:01 GMT
and 1 year also now moving...... from q 334-186 since Monday, so quite hopeful that RYI will deliver before any proverbial s**t hits the fan.
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Post by ruralres66 on Sept 15, 2020 13:31:35 GMT
Checked my one year queue (as one does when bored with lockdown and watching paint dry...... - literally!).
Saw a large queue jump this morning from 334-282
Well that was a nice surprise this sunny morning!
217 now yipee!
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Post by ruralres66 on Sept 14, 2020 10:07:02 GMT
Checked my one year queue (as one does when bored with lockdown and watching paint dry...... - literally!).
Saw a large queue jump this morning from 334-282
Well that was a nice surprise this sunny morning!
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Post by ruralres66 on Aug 30, 2020 8:30:49 GMT
Since the middle of March I have only achieved 26.5% by using the same strategy. Much depends on the markets you invest in. For instance, I have never entered the Plus & Max arenas and much of my ISA is weighted to the 1yr. Good luck!
Like coogaruk, much depends on the markets you invest in.
I too have never entered the Plus & Max arenas ( nor Rolling as it was anything from a few months to 5 years); and much of my Everyday (substantial 6 figures) and my ISA (substantial 5 figures) weighted to the 1yr.
I RYI from I year and 5 year on the 16th March and have 100% RYI or payback from Everyday plus - 25% from my ISA which I left the RYI until much later.
In total I have 93.5% of my capital and interest returned.
The success of my management is totally down to following and reading this Forum so thanks to all who contribute! If I had 'trusted' RS notices and spin....I would be screwed I fear.........
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Post by ruralres66 on Aug 23, 2020 12:31:38 GMT
Talking milestones I just realised that my funds on the platform are now less than my interest earned. At least I can't make a loss. Likewise here.
On a more positive note; from a different perspective ....
My RYI/payments back early leave me in a favorable position.
If the funds had been in a FSCS protected account, I would have received under 1/4 to a 1/3 of the amount over the duration- since about 2014.
So, in essence, all I have left in RS is just over 1/2 of the interest earned over time.
If I lost all of the remaining sum now, I would still be quids in over conventional FSCS schemes.....
If the PF kicks in even a bit, I am even better off. All loans are in the 1 year so may see some paybacks as well over the coming months only some are 7 months away others sooner....
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Post by ruralres66 on Aug 10, 2020 21:56:33 GMT
After today's early repayment/release from I year I too am quietly confident.
Yo "stay alive' in the 1 year, I left and invested a small amount_ and it's gone!
Your investment order O910734997966 for £28.15 at 4.7%* in the 1 Year product within your Everyday account has been matched. Thank you for investing with RateSetter.
AND I was notified by email...!!!!!
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Post by ruralres66 on Aug 10, 2020 21:49:20 GMT
House!
1 Year Queueing 29/03/2020 391309 .... back in holding. I reckon a repayment early..... Yep!
C874661311075 06/12/2019 0 £603. 18 4.6% ( repaid) 10/08/2020
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Post by ruralres66 on Aug 8, 2020 10:20:36 GMT
09dolphin said:
'Although I still have a few hundred tied up in FS I have had a good rate of interest from them which still leaves me with a very acceptable profit even if I recover nothing more. I switched from Zopa about 3 or 4 years ago to Ratesetter. Again overall I've had an more than acceptable rate of return and I've learnt so much, it's been a really enjoyable experience.
I'd still regard myself as having "dumb money" and I didn't certify myself as a sophisticated investor - but then I only used 1% of my cash.
The money I originally invested has increased slightly despite my having taken money out for holiday spending, a new bathroom etc. Overall I've been really happy with my experience of P2P lending. It has been far more enjoyable than watching money sat in a bank account slowly diminishing due to inflation.
Just for information I have never found it necessary to contact Ratesetter so I don't think I've ever caused them any "hassle".'
'I really like your post. Thank you! I too feel to be a lay participator forced to look at all alternatives due to personal circumstances and some adversity following the 2008 crash and fast approaching retirement age. Like you I signed up to P2P as an experiment and embarked on a learning curve made all the easier by access to this forum I add. I too have found it enjoyable and interesting. I hated being taken for a ride by Government/ Bank of England/ Banks and Building societies, even the mutuals. I bank with the Coop - enough said about their fiasco....The dumb money is placed with the above. Yes it has a degree of protection. But over 10 years I have earned 4 times with P2P what I would have received by conventional savings accounts. I reckon even with a hair cut on P2P I would still over the longer term be quids in. It looks like I might 'escape' relatively unscathed as most of my 6 figure sum has now been released. I have yet to lose a penny.... So thank you to mods and those that established the forum. Without this discussion and dialogue, we would all be just second guessing and in an anxiety spin- well that's how I see it! Off to enjoy my campervan.
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Post by ruralres66 on Aug 7, 2020 18:56:21 GMT
It's a bit like bingo or the lottery, (neither in which I have indulged) .... 'house'! I do feel I have 'won' something! Thank goodness I refused to sign up to the up to 5 years duration of the new and shiny AMP!
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Post by ruralres66 on Aug 7, 2020 15:40:30 GMT
Hurrah!
notified 3.46 Every Day 5 Year 04/05/2020 402474
notified 3. 51
FISA
5 Year 04/05/2020 402481
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Post by ruralres66 on Aug 7, 2020 10:31:28 GMT
....buy a fleet of to hire campervans.... I have two for personal use.. one very old!!! and SORN ......invest in holiday homes to let.....?
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Post by ruralres66 on Aug 5, 2020 18:45:49 GMT
I'm on the same day and a few in front of you aju (53 QIF this morning on my 402150 request, 105 QIF on my 402526 request), but still nothing in terms of processing or anything. I'm hoping tomorrow for the first one at least.. I was also a 5Y placed on 4/5, just a little ahead of you, and completed today! So there is hope - you should get your first one tomorrow - the second is I think marginal for Friday/Monday. Here's hoping......
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Post by ruralres66 on Aug 5, 2020 17:38:36 GMT
Just noticed like they reached my day, 4/5, a few days ago in the 5Y so must only be a 2/3 days if that. Sadly last recorder was Ace unless i've missed something. I'm on the same day and a few in front of you aju (53 QIF this morning on my 402150 request, 105 QIF on my 402526 request), but still nothing in terms of processing or anything. I'm hoping tomorrow for the first one at least.. And I am before you aju .....!
5 Year 04/05/2020 402474
And you rl.....
5 Year 04/05/2020 402481
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