robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Oct 14, 2020 11:12:21 GMT
Update on site. Full capital repayment though not outstanding interest. Seems good outcome to me. Fully agree. Interest is the icing, but any returns now help me move towards break even. So if this pays back I’ll be happy. Same for me, we did get some interest, what around 6 months worth? So we got some return. Fingers crossed but this moves me ever closer to break even on MT I Still expect to come out on top, I am just not sure if thats going to be slight or enough for one of those big bars of galaxy
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Oct 8, 2020 16:57:01 GMT
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Oct 8, 2020 11:43:45 GMT
I suspect they haven't had the reaction they wanted with people pushing money to 1 year
Still I am almost out now, bar the wind down of small loans, bit late for a change of course that boat has sailed for me
RS seem to flip and turn as often as Trump, and recently have become about as convincing
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Oct 7, 2020 14:55:52 GMT
It depends how much certainty you want, if your only happy to accept a statement from RS then your not going to agree withe the below.
What we did was check the balances on the markets once the daily customer repayments seemed to have been processed
We worked out that RYIs did not show in the borrowers queue, those were genuine new loans (this was verified by seeing the lending on the stats page go up when the borrowers figure dropped significantly)
When we compared the lenders queue and the borrowers queue we saw the following behaviour most days
APM Borrowers and lenders both moved to the amount that matched new lending pretty closely 1 Year, not followed but not much seemed to happen on here most days 5 Year, the movement in lenders (note no borrower for RYI) seemed to match pretty closely to the amount RS would then post later that day as being released
So yes its possible small amounst could have been moved in effect between 5 year and APM, but the analysis above gave a high confidence that 5 year RYIs were simply being processed against the 5 year lenders funds
Days when there seemed to be a bit more on the APM than was likely to be needed for new lending you did seem to get some movement in APM
Plus of course the lenders on APM feel more flighty than 5 year. So if you have 90% of lenders on APM wanting their money, and 10% on 5 year the ratios lead to a massive difference in the speed APM would have funds available for RYI compared to 5 year. Of course most lenders looking to withdraw are not reinvesting, I am pretty certain that most of the funds for RYI are repayments and interest, so people loking to withdraw wont be funding others RYIs
I am sure if anyone wants to see the above in action they could replicate the process. For me it became pretty clear cut thats what was happening and we stopped monitoring it. If you look back I a few times predicted what RS would say at the end of the day based on that logic and was correct
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Oct 6, 2020 18:24:42 GMT
no need to wonder. They lend from that market, therefore slow release. Really? How do you know? RS refuse to say how the money is being released. Do you really think that money released in the A/P/M markets can only satisfy 1 or 2 RYI's a day? My thoughts are that RS is using A/P/M money to pay off the more expensive 1 and 5 year markets. RS refuse to confirm or deny this. Why do you think that is? Additionally, if they lend just from the 5 year market then how are they going to close it down on the 14th October? Who will take over the loans? Bit late to the party on this one, but do you even think about this before you rant? For RS to use APM to allow release in the 5 year they would have to move lenders funds from one market to another It was probably just about plausible and not full blown CT nutjob stuff 6 months ago, now it is literally CT nutjob level If RS were moving millions of pounds of lenders funds from one market to another, by now you would have plenty on here complaining that their funds in APM were being moved to 5 year against their will Some lenders who have funds incoming may well be moving them, I certainly would if I was staying on RS. maybe not since the announcement ending of RYI on 5 year, but with 5 year being higher interest and no shorter tie vs APM, i fyou were still reinvesting you would be daft not to move those funds. And even saying all the above, did you not follow the coupe of weeks where we closely monitored the different markets, seeing "borrower offers" and matching that to lending, whilst there was no borrowers on 5 year, whilst also watching the tracking threads moving for 5 year and the amounts coming back in.
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Oct 5, 2020 21:19:06 GMT
Good afternoon. Today we have delivered £0.6m. The full update is below: We are not far from what will soon be tiny releases when the 5 year catches up (it is now 32 days behind) and likely going to surge further. 1 year is making good ground too but quite possible that this is linked to 5 year funds moving to 1 year as per the adjustments they made. Either way what is clear is that the 5 year will soon be up to date (or near enough) and then unless something dramatic changes releases will be probably less than 1 million a week if you consider the dates of A/P/M and 1 year. It is still an impressive effort but tactics need to change if they wish to keep momentum They are stopping any releases from 5 year soon
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 25, 2020 15:43:05 GMT
Considering the update times etc I am very much of the impression they are part time on MT now, maybe they have secured other work
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 24, 2020 13:19:43 GMT
Agree moving all my NSi into PB, of course for some this wont be an option
Problem is as soon as something goes to the top of best buy tables its swamped
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 16, 2020 11:02:21 GMT
I am not sure the 5 year / 1 year are anything to do with metro They didnt take over this part its still being managed by RS I am pretty convinced its RS trying to divert funds from 5 year to 1, 1 year would probably fill the commitments now, but at a higher rate, we know 1 year can spike hard when big chunks need to go out, I suspect this is just the same ploy that was to turn off 5 year lending and to try to force everyone onto APM with its lower rates
As far as needing to raise the capital, I suspect RS either had a backup funder, getting paid a cut for being ready to step in (much like a Lloyds name), or they knew that they had enough discretionary lending that they could turn this off if funds available for lending were too low. Pretty much what I believe they did with COVID, only writing loans for the contracted part, and stopping lending to new business, eg individuals applying for a loan.
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 15, 2020 17:07:35 GMT
I am happy to see some RYId now, I think the changes to basically just ignore 5 year is a bit underhand so its basically the last nail in my RS coffin I have been holding on, but look on that decision as purely cynical and virtually a breach in confidence I am going to put a complain it as i think it needs to happen, and to the FCA but I did think they would do this it was just when I think the 5yr had to go really, as it treads too heavily on Metro's mission of rapid expansion into the unsecured consumer debt field. Funny sort of time to have such a strategy in my view but there you go. Oh yes, in my mind 5 year died some time ago, what I think is unacceptable is deciding to take an action that seems to penalise one group when not taking that action for others. I mean specifically why could they not continue to process 5 years RYIs, I can think of no valid reason, but many that benefit RS which is why i believe they have taken this strategy I will likely care far less by the end of the month though, if todays 5 year movement was anything to go by. Over 80 requests for £400k, the £400k was all or virtually all 5 year again
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 15, 2020 15:52:17 GMT
Ive put RYI I have had most of my funds logged as an RYI but I kept cancelling until yesterday and pushing chunks to the back of the queue My lowest was at place 80ish this morning, and yesterdays push to the back at 900 I am happy to see some RYId now, I think the changes to basically just ignore 5 year is a bit underhand so its basically the last nail in my RS coffin I have been holding on, but look on that decision as purely cynical and virtually a breach in confidence I am going to put a complain it as i think it needs to happen, and to the FCA but I did think they would do this it was just when If I get most out I will be happy (some will stay <£10 and also have a small amount in max) My aim is to get out with no capital loss and have my gained funds left if needed. I need to get around 60% of my current investment out to reach that, with over 60% at around 200 or less in the queue its going to take some serious manipulation from RS to stop me achieving my plan Or there needs to be a lot of really big withdrawls stuck in there Oh, just checked and my one from the front has moved from 82 to repaid today. The one at 102 as of this morning is still showing
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 15, 2020 15:47:21 GMT
Ive put RYI I have had most of my funds logged as an RYI but I kept cancelling until yesterday and pushing chunks to the back of the queue My lowest was at place 80ish this morning, and yesterdays push to the back at 900 I am happy to see some RYId now, I think the changes to basically just ignore 5 year is a bit underhand so its basically the last nail in my RS coffin I have been holding on, but look on that decision as purely cynical and virtually a breach in confidence I am going to put a complain it as i think it needs to happen, and to the FCA but I did think they would do this it was just when If I get most out I will be happy (some will stay <£10 and also have a small amount in max) My aim is to get out with no capital loss and have my gained funds left if needed. I need to get around 60% of my current investment out to reach that, with over 60% at around 200 or less in the queue its going to take some serious manipulation from RS to stop me achieving my plan Or there needs to be a lot of really big withdrawls stuck in there
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 14, 2020 18:15:33 GMT
The queue was about 900 this morning (i keep bouncing chunks of mine to the back) on the last month performance that would clear However it depends on investor thoughts and attention
Some may prefer to have 5 year loans (max is realistically what now, 3.5 years?) locked in as opposed to 1 year with no repayments
On the attention point I wonder how many will not even read the email from ratesetter, I am convinced a fair proportion of their investors dont
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 14, 2020 18:09:12 GMT
This looks like very good news for those in the RYI queue apart from the 5 year RYI queue it seems I was right they are just going to abandon 5 year, cancel the que etc on Oct 14th, then its just repays and interest as they come in
|
|
robski
Member of DD Central
Posts: 772
Likes: 462
|
Post by robski on Sept 14, 2020 18:01:43 GMT
Trying to work out the implications on 5 year
I think they mean they are literally stopping doing anything to it
But part of me wonders if they have sold this book to metro and are going to sell all our loans
No sign of my email yet
I was 120ish in the queue for my small withdrawl, I almost cancelled it this morning, glad i didnt
The notice seems to give the impression a smaller RS will continue (same branding but with some loans in the background being Metro loans), maybe enough of the loan book exists that its still a going concern without the personal lending
|
|