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Post by ruralres66 on Mar 1, 2019 10:30:59 GMT
"Due to the large volume of transactions our systems are still catching up. Please bear with us while we complete settlement.
Do not worry this will not stop your money earning interest."
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smezz
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Post by smezz on Mar 1, 2019 11:22:55 GMT
I guess it's got all the 29/30/31 and 1st orders to process for the 3 markets.
Probably means very low rates for a week?
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Stonk
Stonking
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Post by Stonk on Mar 1, 2019 11:27:28 GMT
"Due to the large volume of transactions our systems are still catching up. Please bear with us while we complete settlement.
Do not worry this will not stop your money earning interest."
It is perfectly normal. It's because it is the beginning of the month, and there are always more repayments on the 1st. It's possible that February being short might have added more processing as well: any payments normally due on the 29th or 30th may be arriving today instead.
History tells me not to get in the slightest bit concerned until at least 8pm. The extra processing often goes into the afternoon and early evening, and one time about a year ago I didn't receive my payments until after midnight (in which case it did stop my money earning interest).
This is the first time I've seen RS acknowledging the delay with a message. That's something, I guess. Next thing is a faster server.
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rscal
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Post by rscal on Mar 1, 2019 19:10:47 GMT
I think the statement about not earning interest is moot. Friday repayments awaiting to be repaid will - assuming they are processed over the weekend - still only earn interest to the contractual date of Friday (and NOT a weekend date) The lender borrower only pays what the lender borrower has agreed to. If RS has recieved the money in time but just isn't able to process it to your account 'in time' what have you lost? Nuffin. You can still request withdrawal on Monday until Sunday I believe and that's as early as you could requesting on Friday morning.
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Stonk
Stonking
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Post by Stonk on Mar 1, 2019 21:52:08 GMT
It looks like today's payments will not be completed by midnight. I have 18 payments due today: the first arrived mid-afternoon, and as of 21:50 I have still received only 2 of the 18.
The Rolling Market, on which I suspect the payment run has completed, has been extremely busy. There have been 184,000 matches in the last 24 hours; I have never seen it anywhere near that high before. That's an indicator of how many repayments RS have processed today (because many of those matches are automatic reinvestments of repayments).
You lose interest if the payments are a day late, because you cannot reinvest the same day. Interest accrues on all calendar days, so it makes a difference whether you buy a loan on Friday or on Saturday.
If you were planning to withdraw Friday's payments, then it may not make a difference. I'm not sure (yet) when you would receive a withdrawal requested on Saturday.
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smezz
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Post by smezz on Mar 2, 2019 7:33:11 GMT
What's puzzling me is where all the 5 year repayment money has gone?
I was expecting a wall of 4 days worth of repayments causing a glut of lending money and low rates.
There is now only £803k of lending money - what am I missing?
edit: maybe it's sitting in people's holding accounts (due to late payment) and will pour in today?
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Stonk
Stonking
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Post by Stonk on Mar 2, 2019 9:16:12 GMT
What's puzzling me is where all the 5 year repayment money has gone?
I was expecting a wall of 4 days worth of repayments causing a glut of lending money and low rates.
There is now only £803k of lending money - what am I missing?
edit: maybe it's sitting in people's holding accounts (due to late payment) and will pour in today?
I'm not sure when the repayments finished; it was after 2:30am. The creation of automatic orders is a separate process that starts afterwards, and can take some time.
I expect to see a wall of unprecedented size appearing on 5 Year soon!
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smezz
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Post by smezz on Mar 2, 2019 15:14:48 GMT
Well I got my 6.3% nibble - still no sign of the 'wall'.
Let's see if my 6.4% has a chance - 210k away with 85k in front of me on 6.4 queue.
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aju
Member of DD Central
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Post by aju on Mar 2, 2019 16:38:34 GMT
What's puzzling me is where all the 5 year repayment money has gone?
I was expecting a wall of 4 days worth of repayments causing a glut of lending money and low rates.
There is now only £803k of lending money - what am I missing?
edit: maybe it's sitting in people's holding accounts (due to late payment) and will pour in today?
I'm not sure when the repayments finished; it was after 2:30am. The creation of automatic orders is a separate process that starts afterwards, and can take some time.
I expect to see a wall of unprecedented size appearing on 5 Year soon!
well my 6.4% is just behind smezz , I think, but knowing my luck the wall as you guys put it will be up before is sucks me in, perhaps "The Donald" got his funding after all ....
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smezz
Posts: 180
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Post by smezz on Mar 2, 2019 20:23:43 GMT
6.3% cycling nicely but no 6.4.
Think RS are sitting on the 'wall' - just putting enough in to keep it ticking over.
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aju
Member of DD Central
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Post by aju on Mar 3, 2019 1:12:32 GMT
6.3% cycling nicely but no 6.4.
Think RS are sitting on the 'wall' - just putting enough in to keep it ticking over. Getting closer hopefully tomorrow night it will hit it.
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Stonk
Stonking
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Post by Stonk on Mar 3, 2019 12:57:42 GMT
No wall!
Does anyone here have their 5 Year repayments set up for auto-reinvestment at market rate? If so, have your repayments been re-lent or turned into orders yet?
All that 5 Year money is either being drip-fed very cautiously, or -- more likely I think -- the auto-reinvestment job has not been run. That would either be deliberately (with the intention of combining it with Monday morning run), or just forgotten (because it's a weekend and it doesn't normally run then). Expect a humungously massive wall on Monday, but hopefully it will be set at quite a high rate considering the higher-than-they-should-have-been matches from Frinday to Sunday.
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bod
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Post by bod on Mar 3, 2019 14:48:58 GMT
6.4 going now
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smezz
Posts: 180
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Post by smezz on Mar 3, 2019 16:44:34 GMT
I've seen a couple of 'drips' today when 6.3% had almost gone a £36k drip came in (supposedly from about 1400 individual lenders - i know you can't rely on the investor numbers).
Similar occasion later.
Either some big money has left the site or there's a big pile on the way.
Looking forward to Easter!!!
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ashtondav
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Post by ashtondav on Mar 3, 2019 19:08:22 GMT
I've seen a couple of 'drips' today when 6.3% had almost gone a £36k drip came in (supposedly from about 1400 individual lenders - i know you can't rely on the investor numbers).
Similar occasion later.
Either some big money has left the site or there's a big pile on the way.
Looking forward to Easter!!!
Easter will see the dumb money flooding into ISAs. Rates more likely to be 4.5% to 5% for a couple of months after April 5th.
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