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Post by jenna on Mar 23, 2020 12:12:25 GMT
Thanks Mikael, that is good news! So things should speed up once they get past the 9th. Mine was on the 12th, fingers crossed it doesn't take too long. Hi again folks. I managed to get a bit of info on the phone with RS. Looks like they are still working on Monday the 9th late afternoon. That was the spike day, the person on the phone said requests made Sunday the 8th were very quick and 24h as normal, but this whole chaos started on Monday the 9th and is still on Monday. Hopefully once Monday is cleared things will speed up, relatively. Based on this info I’d allow 1.5 weeks per day. No expert though, but worth saying I don’t believe we will lose our money, it’s just taking time. Hopefully someone will dump a couple of million into RS and speed things along! Good luck
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Post by blueboy on Mar 23, 2020 12:12:31 GMT
Hi again folks. I managed to get a bit of info on the phone with RS. Looks like they are still working on Monday the 9th late afternoon. That was the spike day, the person on the phone said requests made Sunday the 8th were very quick and 24h as normal, but this whole chaos started on Monday the 9th and is still on Monday. Hopefully once Monday is cleared things will speed up, relatively. Based on this info I’d allow 1.5 weeks per day. No expert though, but worth saying I don’t believe we will lose our money, it’s just taking time. Hopefully someone will dump a couple of million into RS and speed things along! Good luck It’s all dependent on new money coming in. I have no idea if this is happening or not. If there’s a huge tranche of cash invested, then everyone gets their money out more quickly. Otherwise it’s weeks, if at all.
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Post by james1100 on Mar 23, 2020 14:20:54 GMT
just received a 5 figure RYI request from the 5 year market that went in on the 12th
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Post by erniec on Mar 23, 2020 14:31:45 GMT
There seems to be more liquidity in the market today:
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Post by Deleted on Mar 23, 2020 14:40:10 GMT
Does the 304k waiting to be borrowed represent RYI requests to be settled today do you think?
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Post by ruralres66 on Mar 23, 2020 15:19:10 GMT
5 figure sum from holding account paid and transferred into Tesco Internet- low interest but safer,, Thank you Ratesetter!
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Post by scepticalinvestor on Mar 23, 2020 19:21:58 GMT
RateSetter Any update on funds released today and/or over the weekend? I haven't received any emails. Good evening everyone. Today, we delivered a further £0.4m. We will provide the next update on Monday, which will include delivery from over the weekend. The full updated RateSetter Notice is below.
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Post by RateSetter on Mar 23, 2020 19:34:20 GMT
Good evening everyone. Below is a copy of today's RateSetter Notice update. On Saturday we delivered £0.5m and today we have delivered £1m.
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Post by Deleted on Mar 23, 2020 20:11:36 GMT
Have they started releasing 10 March requests yet?
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Post by Ton ⓉⓞⓃ on Mar 23, 2020 23:46:07 GMT
I wish I'd known of this forum earlier! I have had a large 5 figure sum in the rolling market. I have requested that this be withdrawn in full over the weekend. Any thoughts on when I can expect to see it in my bank account? More importantly, if RS goes under, will my money be safe as presumably investments are separate to RS as an organisation? Thanks. Article from FT here that mentions RS
The first lines goes
"RateSetter and Assetz Capital want access to stimulus schemes available to traditional banks"
In precise,
"The article says that both RateSetter and Assetz Capital are "urgently" looking to get access to stimulus schemes offered by Bank of England to traditional banks as the risk of defaults increases due to coronavirus pandemic."
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Post by c4dds on Mar 24, 2020 7:26:27 GMT
I am currently waiting for my RYI to come through, but in the mean time am withdrawing repayments. I set my reinvestment rate to 8% and simply cancelled the orders and the money went to my holding account. I do this each day. When I checked this morning there was an amount on market of 120 pounds. When I went to cancel the order, there were no orders there and the 120 pounds had been reinvested at 3.6%. Can't understand why. Exactly the same thing is happening to my accounts for the past few days. Even though ive set the reinvestment rates high on my plus access and max accounts, all the capital has been reinvested at much lower market rates. I need these repayments due to waiting over 2 weeks for my ryi. Surely this is fraud by ratesetter for them to ignore lenders settings and reinvest their money without permission.
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alanh
Posts: 556
Likes: 560
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Post by alanh on Mar 24, 2020 7:47:28 GMT
No. You are misunderstanding the information you are seeing. The underlying loans are rolling over from month to month and they are reflected in RS system as if they get fully repaid and reinvested each month, which is not the case its just how their system shows it.
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Post by amandadee on Mar 24, 2020 11:40:00 GMT
No. You are misunderstanding the information you are seeing. The underlying loans are rolling over from month to month and they are reflected in RS system as if they get fully repaid and reinvested each month, which is not the case its just how their system shows it. Just wanted to check in that you know this for certain otherwise I was thinking to reach out to RS. Had a handful of small repayments coming in today. Had my reinvestment rate set to 7.9% in the hope I could catch and cancel them but all but 1 were relent at 3%. For the one I managed to catch on market, when I clicked it was set to lend at the going rate of 3% not the 7.9% I requested. Managed to cancel but £11 is not much help! Just wondering if others are seeing this? I have a larger amount set to repay in a few days and I really don’t want reinvested given I’ve already been waiting since 11th March for RYI.
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r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
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Post by r00lish67 on Mar 24, 2020 11:46:00 GMT
No. You are misunderstanding the information you are seeing. The underlying loans are rolling over from month to month and they are reflected in RS system as if they get fully repaid and reinvested each month, which is not the case its just how their system shows it. Just wanted to check in that you know this for certain otherwise I was thinking to reach out to RS. Had a handful of small repayments coming in today. Had my reinvestment rate set to 7.9% in the hope I could catch and cancel them but all but 1 were relent at 3%. For the one I managed to catch on market, when I clicked it was set to lend at the going rate of 3% not the 7.9% I requested. Managed to cancel but £11 is not much help! Just wondering if others are seeing this? I have a larger amount set to repay in a few days and I really don’t want reinvested given I’ve already been waiting since 11th March for RYI alanh is right. This is normal. It is confusing however, as your contracts say large amounts to be repaid, but that is actually (mostly) reinvested automatically. Only a little chunk will be available for withdrawal (until your RYI comes through).
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smezz
Posts: 180
Likes: 73
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Post by smezz on Mar 24, 2020 17:06:02 GMT
Have they started releasing 10 March requests yet? My request from 10/3 (can't remember time of day) has not progressed yet. Will post when it does. All 5 year stuff went through quickly.
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