gmitz
Posts: 71
Likes: 22
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Post by gmitz on May 12, 2020 16:20:50 GMT
There hasn't been any lending @8% on this platform for more than 6-7 years. I lent at 8.3% on March 16th. Good for you but you know what I meant, a proper, regular lending @8%. Your idled cash could be idle for a very long time if you are asking for 8% here.
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Post by oppsididitagain on May 12, 2020 16:36:33 GMT
I lent at 8.3% on March 16th. Good for you but you know what I meant, a proper, regular lending @8%. Your idled cash could be idle for a very long time if you are asking for 8% here. No sorry gmitz I don't.. I asked a normal question and Ive had 3 or 4 come backs with completely irrelevant responses. Telling me how I turn re lending off / due to the panic RS have changed the way RS works / to money is not getting matched at that rate. The user posted : Currently set at 8% but want to ensure the money isn't lent back out?They stated they want to ensure the money isn't lend out, nothing to do with idle cash, rates will never get there etc etc.. I guess only the original poster knows the answer. I'll make my own assumption that they either are scared of RS collapsing, doesn't think 8% is a good risk reward, they need the cash for something else, or they are taking there investment elsewhere -hopefully not putting their cash in a fixed bond at below inflation as its safer. time to move on from this :-) as the thread is about processing times for investment releases.
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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 May 12, 2020 17:05:41 GMT
surely just give them a call? it would be easier than various mixed messages,no?
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gg
Posts: 83
Likes: 61
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Post by gg on May 12, 2020 19:10:51 GMT
There hasn't been any lending @8% on this platform for more than 6-7 years. I lent at 8.3% on March 16th. Let’s hope you’ve lent it at 8.3% and not lost it to the economic disaster that is unfolding before our very eyes. I fear it may be the latter. Stay safe. Nothing else is more important than our health right now (if it ever really was). gg
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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 May 12, 2020 20:00:30 GMT
you mean you leant it at 8.3% and now get 4.15 Either way i would be happy with 4.15% and a provision fund ready to handle shocks vs that of 8.3% and capital loss whenever we get there.
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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 May 12, 2020 20:06:23 GMT
Good afternoon, today we have delivered £0.9m. Full update below: have to say, 39 million is pretty good going considering. i wonder the size of the queue though as they are on the 12th.... probably the size of small economy. but no matter what 39 million given back is not something i expected. ratesetter please communicate better and you will see people return. i can see the effort.
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Post by mistoffelees on May 12, 2020 20:29:55 GMT
Good afternoon, today we have delivered £0.9m. Full update below: have to say, 39 million is pretty good going considering. i wonder the size of the queue though as they are on the 12th.... probably the size of small economy. but no matter what 39 million given back is not something i expected. ratesetter please communicate better and you will see people return. i can see the effort. It'd be fantastic if there was the ability to see where they are in terms of processing and what's ahead although I suspect the chances of us seeing that is less than zero - it'd help me massively to know if to cancel my request or not based on an idea of what's ahead of me in the queue. I can guess, sure, based on average sizes shown elsewhere on the forum multiplied by the number of places ahead of me but that's really not a terribly accurate way of doing things. Some clarity would go a hell of a long way, if only to help with my own projections.
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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 May 12, 2020 20:50:48 GMT
that i couldnt agree more with
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Post by cinereus on May 13, 2020 11:43:37 GMT
Has anyone had this issue?
On logging in this morning all my 5 year RYIs have now disappeared from the list?
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Post by markimus on May 13, 2020 11:47:02 GMT
I've had mine disappear too, it looks like it happens when you edit a lending order and save it, rather than cancelling the order; there obviously might be other scenarios where it happens too
I was told that: "This issue will not affect your position in the queue and we do advise that you do not request any more releases from the same product as it can impact your original request."
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Post by cinereus on May 13, 2020 11:50:48 GMT
I've had mine disappear too, it looks like it happens when you edit a lending order and save it, rather than cancelling the order; there obviously might be other scenarios where it happens too I was told that: "This issue will not affect your position in the queue and we do advise that you do not request any more releases from the same product as it can impact your original request." Thanks. Hopefully we'll see some movement in the 5 Year queue this week to put my mind at rest.
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jcb208
Member of DD Central
Posts: 831
Likes: 618
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Post by jcb208 on May 13, 2020 12:23:58 GMT
25 places between cinereus 373761 and dennispj 373786 and 1.3 million released so maybe a high proportion of this is for the 1 and 5 year market.This is going to be a very long wait for many and probably more interest and maybe capital losses
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Post by lingield on May 13, 2020 13:34:49 GMT
It is going to be a long wait with the access queue moving approximately 10 places a day, but this is only a liquidity issue. Capital losses are not guaranteed however, and at the moment my view is that these will be avoided as there are a lots of options for Ratesetter to ensure that capital losses do not occur. Only time will tell.
The only way for Ratesetter to increase liquidity in the current model is for it to increase the value of the PF fund, and I suspect that Ratesetter are working on this. The investors have had an interest rate haircut, I suspect new borrowers (including roll-over borrowers) are also having to contribute more to the PF. It is a tight balance, but not all hope is lost.
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r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
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Post by r00lish67 on May 13, 2020 13:41:46 GMT
It is going to be a long wait with the access queue moving approximately 10 places a day, but this is only a liquidity issue. Capital losses are not guaranteed however, and at the moment my view is that these will be avoided as there are a lots of options for Ratesetter to ensure that capital losses do not occur. Only time will tell. The only way for Ratesetter to increase liquidity in the current model is for it to increase the value of the PF fund, and I suspect that Ratesetter are working on this. The investors have had an interest rate haircut, I suspect new borrowers (including roll-over borrowers) are also having to contribute more to the PF. It is a tight balance, but not all hope is lost. Borrowers won't be paying more, that's specifically addressed in the FAQ. To be fair, if you took a loan from a bank and they asked you to chip in more as they were struggling a bit, I think we'd all tell them (rightly) to do one It's the opposite really, borrowers are obliged to be treated with support and forbearance. Which last month cost us £5,000,000 from the PF. Agree though that capital losses aren't guaranteed. I hope that the current haircut is sufficient but it's all dependent on, well, everything. edit: sorry see you mean new borrowers...well.....I doubt it really. Just because such and such a financial institution is struggling, doesn't mean they can offer uncompetitive rates. Re: rollover borrowers, the rollover is just an illusion we suffer under, borrowers just have their loan term, and that's it.
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Post by RateSetter on May 13, 2020 16:02:45 GMT
Good afternoon. Today we have delivered £0.5m. Full update:
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