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Post by saintpeter on Dec 6, 2020 11:46:38 GMT
Well, I have gone from my position being in the 600s yesterday to having my Access RYI repaid in full this morning, so it has jumped over 600 places overnight! Very happy to finally be out.
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Post by mendip on Dec 6, 2020 12:53:32 GMT
Sorry if I'm asking in the wrong place - where can I find when I have any loans repaying please?
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Post by fiatlender on Dec 6, 2020 14:05:25 GMT
Sorry if I'm asking in the wrong place - where can I find when I have any loans repaying please? In the RS members area:
My Account > Your Portfolio > Click on either Access, Plus or Max > On Loan > Your money on loan
OR
My Account > Your Portfolio > Total > Repayments by month > View
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star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
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Post by star dust on Dec 6, 2020 14:18:17 GMT
Sorry if I'm asking in the wrong place - where can I find when I have any loans repaying please? In the RS members area:
My Account > Your Portfolio > Click on either Access, Plus or Max > On Loan > Your money on loan
OR
My Account > Your Portfolio > Total > Repayments by month > View
In the former the months remaining number will give you an indication of when you can expect full repayment. A one will indicate you should get the full amount back on the repayment day of the current month. If you spot a zero it will mean you can expect an early repayment, but those only usually occur on the day they are made in my experience. Obviously the fewer months remaining on a loan term the sooner you can expect the capital back.
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mtber
New Member
Posts: 2
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Post by mtber on Dec 6, 2020 16:35:31 GMT
Well, I have gone from my position being in the 600s yesterday to having my Access RYI repaid in full this morning, so it has jumped over 600 places overnight! Very happy to finally be out. Same here, got a surprising email on Saturday saying my Access RYI had been released in full. I was 779 in queue on Friday! Happy :-)
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Post by mendip on Dec 6, 2020 16:36:52 GMT
In the RS members area:
My Account > Your Portfolio > Click on either Access, Plus or Max > On Loan > Your money on loan
OR
My Account > Your Portfolio > Total > Repayments by month > View
In the former the months remaining number will give you an indication of when you can expect full repayment. A one will indicate you should get the full amount back on the repayment day of the current month. If you spot a zero it will mean you can expect an early repayment, but those only usually occur on the day they are made in my experience. Obviously the fewer months remaining on a loan term the sooner you can expect the capital back. Seems I'm going to gave some very long waiting times the numbers/months vary from a couple at 5 and 7, then many into the 20's and higher:( Thank you for your help.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Dec 7, 2020 9:40:49 GMT
Could it be that ratesetter is starting to prove a lot of people wrong (many here would need to eat their words). A way to go but it seems money keeps flowing out, 2 markets liquid and reports of huge jumps in QIF.
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Post by Ace on Dec 7, 2020 10:51:48 GMT
Could it be that ratesetter is starting to prove a lot of people wrong (many here would need to eat their words). A way to go but it seems money keeps flowing out, 2 markets liquid and reports of huge jumps in QIF. Yes, they are proving people wrong. The people that think RS is a good investment and the people that believe RS's forecasts. On the 16th March we recieved a message from the CEO bragging about how the rates on RS were unaffected by covid. On the 4th May they had to admit that "the key metric for the provision fund: the Interest Coverage Ratio (ICR)" had fallen from 113% in Feb to 74% in March. Therefore they were cutting interest rates in half, and predicted that that should restore the ICR to 100% by the end of the year. They kept up the pretence that the rate cuts would restore the ICR to 100% right up until October, by repeating each month that they were on track (despite the fact that it was blindingly obvious from the numbers that they were not on track). The ICR now stands at 68%. They now say that the cut in rates will remain indefinitely (until the ICR is restored, but with no forecast as to when that might be). So, the cut in interest rates for over 6 months has seen the ICR fall from 74% to 68%. There is no recognition that the eventual removal of government handouts and stimuli will likely have a further negative impact on the ICR. It wouldn't take much to reduce the capital coverage ratio below 100%, at which point capital haircuts will be required. It makes no sense to invest in RS at near FSCS rates without FSCS protection. Especially given that there are real risks that those left holding the baby will suffer capital losses. And even more so given that there are better secured investments offering much higher rates, including in P2P.
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Post by Si on Dec 7, 2020 11:03:17 GMT
Hi Ace, please could you give us a list of the better secured investments offering much higher rates, including in P2P? I need to get something better than the safe havens of FSCS covered bank account rates (of less than 1%). Thank you in advance .
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Post by Ace on Dec 7, 2020 11:31:27 GMT
Hi Ace, please could you give us a list of the better secured investments offering much higher rates, including in P2P? I need to get something better than the safe havens of FSCS covered bank account rates (of less than 1%). Thank you in advance . Hi si, here are some that I would put in that category: Loanpad: property secured at max LTVs of 50% (current average of 34%) paying 4% per annum daily for 60 days notice with no cash drag. CrowdProperty: first charged property secured loans paying up to 8% per annum (much nearer 7% after cash drag). Unbolted: pawn loans paying up to 1% per month (my XIRRs are between 8 and 9%). Proplend: property secured loans with 3 different LTV tranches depending on risk/reward appetite. Those are in order of my perceived safely. Loanpad certainly seems safest with its very low LTVs, the fact that your funds are spread over all loans on the platform (currently 40) and rebalanced daily, and the fact that they've maintained liquidity throughout the covid crisis. Obviously no guarantees, especially on liquidity, so do your own research.
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Post by RateSetter on Dec 7, 2020 16:52:32 GMT
Good afternoon everyone. Today we have delivered £1.2m. We delivered £6.0m at the weekend and that has been added onto last week's delivery figure in the full update below:
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Post by abhope on Dec 7, 2020 17:29:19 GMT
"Today we have delivered £1.2m. We delivered £6.0m at the weekend and that has been added onto last week's delivery figure"
Great news!
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Post by freefalljunkie on Dec 7, 2020 18:26:18 GMT
Curious about where this sudden and very welcome injection of liquidity has come from. Anyone care to speculate?
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Dec 7, 2020 18:37:08 GMT
Curious about where this sudden and very welcome injection of liquidity has come from. Anyone care to speculate? large repayments - likely property with no where to reinvest. A few property loans soon end up in the millons.
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iRobot
Member of DD Central
Posts: 1,680
Likes: 2,477
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Post by iRobot on Dec 7, 2020 18:58:01 GMT
Curious about where this sudden and very welcome injection of liquidity has come from. Anyone care to speculate? Always My - somewhat arms-length - observation is that the rate of return increased shortly after the Metro Bank deal was fully approved. On the basis of solely that, I'd speculate that prior to the confirmation announcement, RS were withholding some monies to build up a war-chest just in case the deal didn't go through. Now the deal has completed - and MB will likely want RS focusing on them (and their products) as much as possible and as soon as possible - RS are free to increase the flow of returns to lenders looking to withdraw. (Probably 1001 reasons the above cannot possibly be accurate, but one of the joys of speculation is that it can be completely groundless with little chance of any consequence )
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