gg
Posts: 83
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Post by gg on Apr 25, 2020 19:56:10 GMT
It would be somewhat fairer if RYIs were satisfied in £1000 per person batches. That is, each requester gets £1,000 and then moves to the back of the queue.
gg
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bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
Posts: 129
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Post by bt on Apr 26, 2020 9:39:16 GMT
So unless you are very close to the top of the queue it is better to rely on repayments. Forgive my ignorance, but how would you get repayments? I don't seem to have any choice other than to reinvest?
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johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
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Post by johnt on Apr 26, 2020 9:49:57 GMT
So unless you are very close to the top of the queue it is better to rely on repayments. Forgive my ignorance, but how would you get repayments? I don't seem to have any choice other than to reinvest? Set your reinvestment rate at 8% then cancel any unmatched orders.
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bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
Posts: 129
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Post by bt on Apr 26, 2020 9:54:51 GMT
Set your reinvestment rate at 8% then cancel any unmatched orders. Thanks. Yes, I've tried doing that but most of it seems to invest at the original rate anyway. I think maybe in the access market loans reinvest at the original not set rate until they are repaid. Only new loans invest at set rate. Is that correct?
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Post by mdub on Apr 26, 2020 9:59:19 GMT
Set your reinvestment rate at 8% then cancel any unmatched orders. Thanks. Yes, I've tried doing that but most of it seems to invest at the original rate anyway. I think maybe in the access market loans reinvest at the original not set rate until they are repaid. Only new loans invest at set rate. Is that correct? Yes - that's how Access works (and presumably Plus and Max too).
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chris1200
Member of DD Central
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Post by chris1200 on Apr 26, 2020 10:01:19 GMT
Set your reinvestment rate at 8% then cancel any unmatched orders. Thanks. Yes, I've tried doing that but most of it seems to invest at the original rate anyway. I think maybe in the access market loans reinvest at the original not set rate until they are repaid. Only new loans invest at set rate. Is that correct? You're probably getting this confused with a rollover of the same loan, which - pretty annoyingly - displays as a re-investment on the RS transactions page even though that's not what it is in practice. There are several other posts on this on the forum if you have a look around. As long as you set your re-investment rate that high, you should then be able to cancel true re-investment orders and withdraw the funds.
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Post by oppsididitagain on Apr 26, 2020 10:03:21 GMT
Set your reinvestment rate at 8% then cancel any unmatched orders. Thanks. Yes, I've tried doing that but most of it seems to invest at the original rate anyway. I think maybe in the access market loans reinvest at the original not set rate until they are repaid. Only new loans invest at set rate. Is that correct? Have a read of the 'time cycle of reinvestment ' thread. I wrote this in there The confusion arose when Ratesetter changed the way it processed loans in access about 2 years ago. Historically , in the beginning .... you lent money at your chosen rate for 30days. At the end of that period RS paid you back all your money + interest and you were free to do what you wanted with it. You could withdraw all of it, reinvest it straight away at your chosen rate, or wait - say 5 days and then lend money again at your chosen rate for another 30 days. The more experienced investor would pick and choose when to invest -wait until rates went up (supply/demand) and decided when to invest. Basically you funded RS and they behind the scenes/in the background funded the loans. The difference between your lending rate to RS and the rate agreed with the borrower would constantly be changing, this was absorbed by RS. This only happened in the old access market. When RS decided to change this 30day account into the access account, they couldn't reprogram their system to run as the 3yr( now closed) and the 5yrs. Standard amortising loans. If you notice, you are able to see a repayment schedule for 5yr loans. You are not able to see this on access loans. Access shows you the money being completely repaid and you re-lending to the same borrower/same rate /term Also if you speak to RS customer service, they will tell you the borrower will repay the loan and then you relend it back to the same borrower. Obviously this doesn't happen in the real world. The latest 'improvement ' to the RS platform last year restricted the withdrawal of funds. Along with the levels at which you could set your own rate. They wanted/encouraged you to reinvest the capital and interest- I presume to keep rates down. So the 'fix' to this is .. Set your reinvestment rate very high, when the system goes through the repayment process you will be left with some money in the holding account and on market at your chosen rate. Hopefully its high enough not to be matched, before you can manually go and cancel these orders to bring all your money back to the holding account. Then you can withdraw the funds. Your accounts will look very confusing when RS has to process lot of repayments, Usually at the EOM, or after a long weekend etc. You will see money on market but you can't cancel these orders. This is RS processing the repayments of access loans and relending them (to the same borrower) I hope this helps you understand how the access account works. Personally I preferred the original 30 day account.
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bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
Posts: 129
Likes: 53
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Post by bt on Apr 26, 2020 10:04:19 GMT
You're probably getting this confused with a rollover of the same loan, which - pretty annoyingly - displays as a re-investment on the RS transactions page even though that's not what it is in practice. There are several other posts on this on the forum if you have a look around. As long as you set your re-investment rate that high, you should then be able to cancel true re-investment orders and withdraw the funds. Thank you.
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Post by erniec on Apr 26, 2020 10:41:56 GMT
It would be somewhat fairer if RYIs were satisfied in £1000 per person batches. That is, each requester gets £1,000 and then moves to the back of the queue. gg That’s simply ridiculous.
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Post by RateSetter on Apr 27, 2020 16:51:19 GMT
Good afternoon everyone. Today we have delivered £0.9m and the update is copied below:
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arby
Member of DD Central
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Post by arby on Apr 27, 2020 19:03:51 GMT
It would be somewhat fairer if RYIs were satisfied in £1000 per person batches. That is, each requester gets £1,000 and then moves to the back of the queue. gg That’s simply ridiculous. Not to someone with £1k invested Anyone who correctly calls the beginning of an equity crash should also be forced to share their return with those who tried to cash out a few days later too.
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Post by drphil on Apr 27, 2020 20:13:03 GMT
Withdrawal cancellation requests are increasing nicely. Up nearly 100% in two and a half weeks.
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Post by RateSetter on Apr 28, 2020 17:17:43 GMT
Good evening all. Today we have delivered £0.8m, and the full update is copied below.
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Post by gar on Apr 28, 2020 19:52:24 GMT
It would be somewhat fairer if RYIs were satisfied in £1000 per person batches. That is, each requester gets £1,000 and then moves to the back of the queue. gg That’s simply ridiculous. So hypothetically you get your £2K back in two months and someone with 12K has to wait a year. I dont think so
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macq
Member of DD Central
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Post by macq on Apr 28, 2020 20:05:49 GMT
God evening all. Today we have delivered £0.8m, and the full update is copied below. After reading the first line knowing God saves with RS makes me feel better about already
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