aju
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Post by aju on Apr 2, 2020 10:09:25 GMT
Probably best to rely on posters here updating the status of their individual RYI requests as they get released. For whatever reason, RS seem reluctant to do the same for the different queues being progressed.
I'm only talking about Access here - if I'm not wrong, the latest was from the 10th and we haven't had any from the 11th yet.
Yes. A graph of "amount requested" and "amount delivered" by date should be easy to produce. That it hasn't been suggests that the answer would cause more fears than it allayed. There might be other issues perhaps, i.e. they are all hands to a number of pumps in these uncertain times, staff may be limited and I'm guessing a lot are working from home. I can certainly relate to issues when working from home and trying to keep the bilge pumps running at a distance. Personally I am not seeing on RS selling issues as I am not selling but rather am experiencing a long drags on Zopa Selling though. From what I am seeing I think RS are being rather more transparent than many other P2P's in my view. The fact that they do not have a graph etc is not evidence of anything other than they do not have it - yet!. (I'll stand back now and no I'm not related to anyone in RS just trying to put a different perspective on things.) I will say If anyone has burning issues with their own experience I 'd recommend direct questions to RS not address RS here they probably wouldn't answer or worse have the time to answer. I've just done similar with Zopa and was provided with quite comprehensive and positive changes in their pipeline to improve selling out delays. Just a thought.
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alanh
Posts: 556
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Post by alanh on Apr 2, 2020 10:40:44 GMT
Yes. A graph of "amount requested" and "amount delivered" by date should be easy to produce. That it hasn't been suggests that the answer would cause more fears than it allayed. There might be other issues perhaps, i.e. they are all hands to a number of pumps in these uncertain times, staff may be limited and I'm guessing a lot are working from home. I can certainly relate to issues when working from home and trying to keep the bilge pumps running at a distance. Personally I am not seeing on RS selling issues as I am not selling but rather am experiencing a long drags on Zopa Selling though. From what I am seeing I think RS are being rather more transparent than many other P2P's in my view. The fact that they do not have a graph etc is not evidence of anything other than they do not have it - yet!. (I'll stand back now and no I'm not related to anyone in RS just trying to put a different perspective on things.) I will say If anyone has burning issues with their own experience I 'd recommend direct questions to RS not address RS here they probably wouldn't answer or worse have the time to answer. I've just done similar with Zopa and was provided with quite comprehensive and positive changes in their pipeline to improve selling out delays. Just a thought. Ratesetter are being the most informative of all the platforms I am invested in. The daily bulletin they send out is useful and the fact they are communicating with lenders on a daily basis is great. I'd like to see all the nitty gritty details but no-one is providing any information like that to lenders. Some platforms such as Assetz are going the opposite way and reducing the transparency so that lenders are unable to see anything of what is going on. The data we are getting from RS is not perfect, but its the best out there.
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Post by ruralres66 on Apr 2, 2020 11:23:50 GMT
Ratesetter are being the most informative of all the platforms I am invested in. The daily bulletin they send out is useful and the fact they are communicating with lenders on a daily basis is great. I'd like to see all the nitty gritty details but no-one is providing any information like that to lenders. Some platforms such as Assetz are going the opposite way and reducing the transparency so that lenders are unable to see anything of what is going on. The data we are getting from RS is not perfect, but its the best out there. 'I'd like to see all the nitty gritty details but no-one is providing any information like that to lenders. ...'
What is the point of there being a 'sheep and goats' set of lenders if we are all treated the same in terms of investment?
Those labeled as 'expert', 'sophisticated' or what ever term is applied should be informed more comprehensively surely?
(As part of the new Financial Conduct Authority (FCA) regulations on the peer-to-peer (P2P) industry which come into effect on 9 December, we’ll need you to confirm your level of experience with P2P on a yearly basis.
Based on this information, you’ll then be given the investor profile that best suits the details you’ve given. In some cases, the profile you fall into can lead to restrictions on how much you can invest in P2P. To help demystify what category best suits you, we’ve broken down the details below.
Certified sophisticated investor For us to class you as a ‘certified sophisticated investor’, one of the following must be true: Self-certified sophisticated investor High net worth investor - To qualify as a ‘high net worth investor’, according to the FCA’s definition, you earn more than £100,000 per year, or hold net assets of at least £250,000. (See below for some guidance on working out your net assets.)
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Post by BrianC on Apr 2, 2020 11:49:21 GMT
Just for info...
My Withdrawal requests...
12 March - Access - not yet processed 14 March - 5 year - not yet processed
I appreciate that’s probably news to nobody but I’m not seeing many updates on successful withdrawals recently either. For mine I’m thinking my 5 year will complete before Access (if either). Has anyone had any successful withdrawals from 11th in Access?
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Post by jaycee on Apr 2, 2020 12:21:49 GMT
Ratesetter are being the most informative of all the platforms I am invested in. Yes - probably, though that's a low bar! Still, this "We delivered £1m today" doesn't tell us much if we don't know whether people are RYIing £2m a day or £20m a day.
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chris1200
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Post by chris1200 on Apr 2, 2020 13:48:37 GMT
Ratesetter are being the most informative of all the platforms I am invested in. Yes - probably, though that's a low bar! Still, this "We delivered £1m today" doesn't tell us much if we don't know whether people are RYIing £2m a day or £20m a day. Yes, but we all know why they're not publishing that information. Although it would satisfy your curiosities and anxieties to know (and, believe me, I understand that!), it wouldn't actually help us much to know. What it could do, however, would be to create even more concern, leading to even bigger withdrawals, and a much higher chance of RS collapsing. So, let's try to be rational and sit tight for now - it's likely in our best interests to do so.
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Post by magnet22 on Apr 2, 2020 14:00:26 GMT
Is the Max product in the same queue as the 5 year market? Seems most people here are posting about Access and 5 Year, but haven't really seen any mention of Plus or Max. Are they going through different queues to Access, or its all one big queue?
FYI - my funds are all in the Max product - requested withdrawal on 16th March and no update since then.
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Post by Deleted on Apr 2, 2020 14:02:07 GMT
Access, Plus and Max are part of the same queue. 1 year and 5 year are separate, so 3 queues in all.
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savernake
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Post by savernake on Apr 2, 2020 14:03:10 GMT
Max product is in the same queue as the Access product. As far as I know, this queue is still processing requests made on 10th March.
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Post by cinereus on Apr 2, 2020 14:03:40 GMT
Is the Max product in the same queue as the 5 year market? Seems most people here are posting about Access and 5 Year, but haven't really seen any mention of Plus or Max. Are they going through different queues to Access, or its all one big queue?
FYI - my funds are all in the Max product - requested withdrawal on 16th March and no update since then.
As has been stated multiple times, there are three queues: 1y, 5y and access/plus/max.
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Post by scepticalinvestor on Apr 2, 2020 14:13:53 GMT
Is the Max product in the same queue as the 5 year market? Seems most people here are posting about Access and 5 Year, but haven't really seen any mention of Plus or Max. Are they going through different queues to Access, or its all one big queue?
FYI - my funds are all in the Max product - requested withdrawal on 16th March and no update since then.
As per RS, the surge of RYIs started on the 9th and went on until it peaked on the 16th. They're still only on the 10th for the Access/Plus/Max queue and it's taken more than 2 weeks to get here.
So, Access/Plus/Max RYIs from the 16th are going to take a good while yet. Nothing we can do but wait. I'm in the same boat, waiting for an Access and five-year RYI to come through.
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Post by greatboo on Apr 2, 2020 14:36:15 GMT
I made a withdrawal request for all the money in my account on 26th March - (yeah I know, I'm not holding my breath).
While I wait, I'm withdrawing any repayments that occur - which obviously means that my balance is now (slightly) lower than the amount I requested on 26th March.
I'm just hoping that when my request eventually reaches the front of the queue, the request won't be automatically rejected because the whole amount I requested is no longer available in my account.
Anyone else withdrawing loan repayments in the meantime - or are you waiting for the whole amount?
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alanh
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Post by alanh on Apr 2, 2020 14:47:21 GMT
I made a withdrawal request for all the money in my account on 26th March - (yeah I know, I'm not holding my breath). While I wait, I'm withdrawing any repayments that occur - which obviously means that my balance is now (slightly) lower than the amount I requested on 26th March. I'm just hoping that when my request eventually reaches the front of the queue, the request won't be automatically rejected because the whole amount I requested is no longer available in my account. Anyone else withdrawing loan repayments in the meantime - or are you waiting for the whole amount? No, that doesn't happen. When you reach the front of the queue you will receive your current account balance.
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rhmc
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Post by rhmc on Apr 2, 2020 17:07:49 GMT
I made a withdrawal request for all the money in my account on 26th March - (yeah I know, I'm not holding my breath). While I wait, I'm withdrawing any repayments that occur - which obviously means that my balance is now (slightly) lower than the amount I requested on 26th March. I'm just hoping that when my request eventually reaches the front of the queue, the request won't be automatically rejected because the whole amount I requested is no longer available in my account. Anyone else withdrawing loan repayments in the meantime - or are you waiting for the whole amount? No, that doesn't happen. When you reach the front of the queue you will receive your current account balance. Exactly, if you think about it, you are earning interest which is changing your balance from the moment you hit the RYI anyway. This is why they have the "all funds" button.
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Post by RateSetter on Apr 2, 2020 17:20:00 GMT
Good evening all. Today's update is that we have delivered £0.8m. Full update below.
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