rhmc
Posts: 12
Likes: 12
|
Post by rhmc on Mar 26, 2020 7:04:34 GMT
I think I've got the opposite problem to most of the people in this thread...
I've got money waiting to invest in the marketplace (including automatic re-investment offers) - albeit not a huge amount, but the current level of withdrawals seems insufficient to push the rates up to the level at which I'm willing to (re-)invest.
Perhaps rather than disappointing both sets of investors, RateSetter could instead introduce an "emergency liquidation fee" or similar. Those who still want to withdraw despite the fee would then subsidise the higher rates demanded by those willing to invest new money in the marketplace, rather than RateSetter itself being expected to make up the shortfall.
I think that's a sensible idea, and sort of what Assetz theoretically has with their discounted sales. Though I can imagine the product development effort for this system is fairly high.
Basically a secondary market.
|
|
|
Post by scepticalinvestor on Mar 26, 2020 10:39:30 GMT
I think that's a sensible idea, and sort of what Assetz theoretically has with their discounted sales. Though I can imagine the product development effort for this system is fairly high.
Basically a secondary market.
A secondary market would have been great in this scenario for people who would like to exit with a haircut.
|
|
jlend
Member of DD Central
Posts: 1,835
Likes: 1,463
|
Post by jlend on Mar 26, 2020 11:54:46 GMT
I can't see a platform like Ratesetter or Lending Works operating a discount secondary market like AC.
The majority of RS lenders by volume and £ use the Market Rate and Going Rate, they don't even set their rate normally.
RS have been moving to an even more simple model with the fixed Market Rate. The average lender rate on RS has been an all time low in 2020 to date at 4%.
RS managed the sellout process during the wholedale loans episode over several months which then gradually returned to normal.
OK I accept a few lenders would like a SM, but I really can't see RS ever doing anything like that for the mass market product they have.
|
|
voss
Member of DD Central
Posts: 153
Likes: 84
|
Post by voss on Mar 26, 2020 14:11:31 GMT
As an aside, I notice that I am no longer being logged out by RS after around 20 mins of inactivity. This suits me. Perhaps RS are looking for ways to reduce server load though a few hundred loggings out and loggings in shouldn't be flogging their servers significantly.
|
|
smezz
Posts: 180
Likes: 73
|
Post by smezz on Mar 26, 2020 15:04:19 GMT
In the good old days you could reboot your PC and still be logged on when you went to the web-site!
|
|
spiral
Member of DD Central
Posts: 963
Likes: 484
|
Post by spiral on Mar 26, 2020 16:37:47 GMT
In the good old days you could reboot your PC and still be logged on when you went to the web-site!
That still happens for my wife even following an overnight shutdown.
|
|
|
Post by RateSetter on Mar 26, 2020 18:34:41 GMT
Hello everyone. Today's updated RateSetter Notice below - today we have delivered £0.4m:
|
|
cb25
Posts: 3,528
Likes: 2,668
|
Post by cb25 on Mar 26, 2020 18:50:32 GMT
Hello everyone. Today's updated RateSetter Notice below - today we have delivered £0.4m: Any particular reason for the drop after 3 days of £1m+, or is it just the normal fluctuations one sees on daily repayments?
|
|
|
Post by Badly Drawn Stickman on Mar 26, 2020 18:52:45 GMT
Hello everyone. Today's updated RateSetter Notice below - today we have delivered £0.4m: Any particular reason for the drop after 3 days of £1m+, or is it just the normal fluctuations one sees on daily repayments? It's a trend line, not all figures have to be in sequence. (Sorry just could not resist)
|
|
|
Post by Deleted on Mar 26, 2020 21:53:00 GMT
Is RS still processing requests from 9 March? Has anyone had any RYI from 10th or 11th yet? Thanks.
|
|
|
Post by BrianC on Mar 27, 2020 1:55:43 GMT
So it appears they’re still processing requests from the 9th. That’s almost 3 weeks ago! I’m relatively near the start of the queue as I requested on the 12th but if it’s taking 3 weeks per day then I’m up to 2 months still away from seeing any money. People are saying RS are doing such a great job but I’m not so sure. They’re communicating much better than say AC but they’re not returning any money to the vast majority of people that want/need it. I’m thinking their way of doing things isn’t really fair or sensible. If it’s going to take me 10+ weeks to see any money as someone relatively near the front of the queue how long is it going to take for those who requested withdrawals on the 16th or 19th or god forbid today? Giving a few people 100% of their money and the rest nothing doesn’t seem fair. A fairer system might be to give everyone 20% of what they asked for initially which would speed up the queue 5 fold and see 5 times as many people get some cash which many will need to pay bills right now. Once everyone had their 20% the queue could start again for the next 20%. I know that will be very unappealing to anyone near the front of the queue (me included) but I just don’t see how the current system is fair at all. People are relatively happy for now as they think things are moving. The reality will soon hit tho and daily updates are going to get a little repetitive when it’s taking 3 weeks plus to fulfill each single day of withdrawal requests.
|
|
|
Post by hovisloaf on Mar 27, 2020 3:00:54 GMT
Is RS still processing requests from 9 March? Has anyone had any RYI from 10th or 11th yet? Thanks. There is a post from yesterday says RYI from the 10th March has been processed.
|
|
smezz
Posts: 180
Likes: 73
|
Post by smezz on Mar 27, 2020 8:31:05 GMT
My 10th ACCESS (edit) money paid back as previously reported - last bit came in yesterday.
Maybe someone waiting from 11th could post and keep people up to date?
|
|
|
Post by mikael on Mar 27, 2020 9:58:51 GMT
I will certainly let you know when my access & 1 year comes through from an order placed on the morning of the 11th.
Great news that some money from the 10th is in for someone
|
|
|
Post by Deleted on Mar 27, 2020 10:01:46 GMT
I requested on 11th and 12th so will report when received.
|
|