chris1200
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Post by chris1200 on Sept 25, 2020 11:23:25 GMT
Sorry did not want to create anther topic so I have used this one, basically I have sent two emails a while back to MT regarding discrepancies I have noticed on my account. I have tried ringing them few times but there is never any answer. Does anyone had perhaps similar experience of lack of contact ? Thanks Have also noticed some discrepancies on my account and tried to get in touch in the last couple of weeks, with no luck.
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chris1200
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Post by chris1200 on Sept 18, 2020 10:51:37 GMT
Access RYI request 374971 fully processed this morning.
Good luck to everyone still in the queue.
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chris1200
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Post by chris1200 on Sept 18, 2020 10:48:56 GMT
18/09 queue position = #26 And now into processing Thanks, star dust - you've been a hero!
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chris1200
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Post by chris1200 on Sept 18, 2020 10:39:51 GMT
And there it is, A/P/M movement of over 50 places overnight. That’s over 100 places since last Friday... i.e. continuation of last week’s most rapid movement since we got the queue numbers (actually a new record week, I think?). Not frozen, not getting slower and slower, @jennifer The rate of APM RYI *requests* was 700 per day on 13th March. Yesterday’s APM current peak servicing rate is just 7% of what would be required to just halt the increase in queue-length, let alone start to eat into it. Even more importantly, the mid-March peak was not an outrageous outlier. Consistent RYI rates long before and long after are round 200-250 per day. The current servicing rate is less than half what would be required to prevent a queue forming, even last year before Covid. The only answer is new investors, and that is now never going to happen. [Response deleted as I'm now out of here, so will leave it to others to debate and discuss. Good luck, all!]
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chris1200
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Post by chris1200 on Sept 18, 2020 6:46:26 GMT
And there it is, A/P/M movement of over 50 places overnight. That’s over 100 places since last Friday... i.e. continuation of last week’s most rapid movement since we got the queue numbers (actually a new record week, I think?). Not frozen, not getting slower and slower, @jennifer
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chris1200
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Post by chris1200 on Sept 18, 2020 6:41:13 GMT
18/09 queue position = #26
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chris1200
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Post by chris1200 on Sept 17, 2020 13:14:10 GMT
It's only been a few days since we had really significant movement; we might see more of this before the end of this week. Edit: Speaking of which looking at the markets page, I think we're getting some decent RYI processing on A/P/M today. But let's see. Looks like I wasn't far wrong, judging by the RYI tracking thread
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chris1200
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Post by chris1200 on Sept 17, 2020 11:52:51 GMT
I mean that patently isn't true. Just look at the graphs above. Things have definitely picked up in the last couple of weeks. (Whether that's fast enough to make you happy is a different question.) I rely on the evidence of my own graphs drawn from the information supplied by RS. With the exception of a couple of spikes the expected time for a RYI is currently getting longer.Yes, it currently is because there hasn't been movement since Monday. But that's not what you said above - you said it keeps getting longer, which is clearly nonsense. Regardless, as has been stated on here many times, it's better to judge this stuff over longer periods. It's only been a few days since we had really significant movement; we might see more of this before the end of this week. Edit: Speaking of which looking at the markets page, I think we're getting some decent RYI processing on A/P/M today. But let's see.
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chris1200
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Post by chris1200 on Sept 17, 2020 11:25:37 GMT
hardly frozen... last week the forum rejoiced and sang hymns about the movement - it moves in blocks - not daily Are you Ratesetter's representative? Factr is that since they started publishing the queue the expected time for a RYI to be filled has simply got longer and longer. I mean that patently isn't true. Just look at the graphs above. Things have definitely picked up in the last couple of weeks. (Whether that's fast enough to make you happy is a different question.)
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chris1200
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Post by chris1200 on Sept 17, 2020 9:13:21 GMT
Here's the movement in case anyone's interested for the Access RYI Queue: and weekly average movement: The most helpful graphs I've seen yet by far! Top one shows the lack of linear progression really nicely. I wouldn't be surprised if the 'pooling' system that seems to exist at the front of the queue means there is often a load of people being processed together (so little visible movement), and then a big drop-out of them all from the queue (sudden big movement).
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chris1200
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Post by chris1200 on Sept 17, 2020 8:19:41 GMT
Looks like the A/P/M queue has now frozen. this is said every week and then every few days someone mentions how it is moving quickly again... Quite - even when we've had rapid movement, it hasn't been linear by any means.
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chris1200
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Post by chris1200 on Sept 16, 2020 8:32:38 GMT
Unless I'm missing something, hasn't "promising other people’s money over which they have no control" been a fairly prominent feature of p2p lending this whole time!? Obviously different platforms have had different models with varying levels of access/being locked-in but... having lending commitments without certainty as to whether your lenders want to part with that money or not isn't exactly new, right?
RS have a certain amount of control over this through turning on/off the RYI taps and the A/P/M auto-reinvestment feature. But it's always been the case that if every investor RYI'd and turned their re-investment settings off (or set them to the highest rate in A/P/M) that RS would've been in serious trouble! So I'm slightly puzzled as to why this is being thrown at Metro Bank as something to be surprised about...?
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chris1200
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Post by chris1200 on Sept 14, 2020 20:16:21 GMT
Thanks - that’s helpful to know. To be honest, what I’d be most interested in knowing is the extent to which that ‘personal’ category actually increased for the period when RYIs ground to a halt. Anyway - I didn’t mean to get into a debate about this, really. Was just responding to the notion that RS has ONLY been doing obligated lending this whole time, which is patently untrue (even if it’s been the vast majority). I’m lucky that I should be out of A/P/M within the next few days, so I’ll be shutting up. I assume RS wanted to keep the personal lending ticking over at a very low level so they could restart it at some stage. That is what I would have done. 64% of the loan book is currently personal loans, but only 4% of new lending over the last 3 months was personal loans. 4% less lending wouldn't have made a great deal of difference to RYI and may have made the Metro deal even harder to pull off if RS had said they had completely stopped personal lending since covid. My point was more that these are figures for the last three months (or, likely, Jun-Aug). But there was a period of a few weeks from mid-July when new lending went up and RYIs ground to a halt. I wonder if - for these weeks at least - personal lending actually increased up to something more like 10%. Absent this deal, that could have continued or even increased. But, instead, that 10% going to RYIs instead really is a big difference, considering that A/P/M seemed to be getting maybe only a few hundred thousand every week (given that 10% of lending at that time would be c.£3m/month). Edit: Actually, if it’s like the stats page, it could be for May-Jul. In which case it really wouldn’t take much account of the period I’m talking about in the three-month average.
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chris1200
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Post by chris1200 on Sept 14, 2020 19:45:29 GMT
Thanks! Where on this page does it say that property lending has only been existing loans? RS have mentioned it in the past. For example "We are lending, but at a much-reduced level. We continue to deliver to our existing Property Development Finance customers as they complete their developments because allowing construction to continue where possible is in the interests of borrowers and investors." As you can see from the stats the property development segment made up the largest portion recently. You could ask RS if you wanted to find out how many new property loans were written, if any. Overall lending pre covid ranged from circa 10m to 20m a week, since covid circa 5m to 10m a week. Property lending was building up over time pre covid so there would have been a lot of tranche drawdowns to fund. Thanks - that’s helpful to know. To be honest, what I’d be most interested in knowing is the extent to which that ‘personal’ category actually increased for the period when RYIs ground to a halt. Anyway - I didn’t mean to get into a debate about this, really. Was just responding to the notion that RS has ONLY been doing obligated lending this whole time, which is patently untrue (even if it’s been the vast majority). I’m lucky that I should be out of A/P/M within the next few days, so I’ll be shutting up.
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chris1200
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Post by chris1200 on Sept 14, 2020 19:25:26 GMT
Yep AC was a typo. www.ratesetter.com/invest/investing-with-us/lending-criteriaThe property lending is tranche drawdowns on existing property development loans. Family finance is litigation finance drawdowns. Giffgaff may well be contractual obligations between RS and Giffgaff, but in any case is not huge now in the scale of the other lending. Thanks! Where on this page does it say that property lending has only been existing loans?
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