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Post by Badly Drawn Stickman on May 17, 2020 10:18:41 GMT
I see - thanks Ace for the link and VillageIdiot. The volume of forum here are somewhat of a minefield. I'm not sure sleeping soundly is an option at the moment, however, I will trial whether the funds I witness during the early hours, remain in the morning if I don't withdraw it to my bank account. We'll see. I can appreciate the problems for new forum users finding the right information, but sometimes there is a benefit to working at a problem. It probably is time to do a FAQ to save time, the information is all 'out there' but maybe scattered to far about. If nobody volunteers (truly anybody would be more diligent than me) I will start a thread later and collate peoples offerings.
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Post by drphil on May 17, 2020 20:28:00 GMT
I see - thanks Ace for the link and VillageIdiot. The volume of forum here are somewhat of a minefield. I'm not sure sleeping soundly is an option at the moment, however, I will trial whether the funds I witness during the early hours, remain in the morning if I don't withdraw it to my bank account. We'll see. A new user name may now be appropriate - zzzz's
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one21
Member of DD Central
Posts: 398
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Post by one21 on May 18, 2020 14:08:17 GMT
The problem with Ratesetter’s ‘Access’ diversification model is that some lenders will have to wait longer than others for normal borrower repayment depending upon the contract term they were put into by no choice of their own. A quick calculation based on RYI repayment dates so far means that some Lenders will receive their investment quicker than others regardless of their RYI request date as I see it! Some of my part loans are up to 5 years!
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star dust
Member of DD Central
Posts: 2,998
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Post by star dust on May 18, 2020 16:03:52 GMT
The problem with Ratesetter’s ‘Access’ diversification model is that some lenders will have to wait longer than others for normal borrower repayment depending upon the contract term they were put into by no choice of their own. A quick calculation based on RYI repayment dates so far means that some Lenders will receive their investment quicker than others regardless of their RYI request date as I see it! Some of my part loans are up to 5 years! Yep, agreed. In hindsight, it's also one of the disadvantages of splitting things into smaller chunks so that you don't get an early repayment giving a large lump of your loan book back unexpectedly. It's actually why I RYI'd my Max before my Access despite the fees. My Max loans had a larger tail and a far heavier bullet lump with two year terms. My access funds are currently coming back faster than my Max ones.
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Post by RateSetter on May 18, 2020 17:59:54 GMT
Good evening everyone. Today we have delivered £0.6m. The full update can be found on our website here, and is copied below for reference:
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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 18, 2020 19:08:39 GMT
Good evening everyone. Today we have delivered £0.6m. The full update can be found on our website here, and is copied below for reference: ratesetter, keep it up, it's good work although it seems things are slowing. I hope this is due to more lending? if so that's ok if not ... music slowing a little
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Post by Deleted on May 19, 2020 14:39:42 GMT
Thanks RateSetter. Could you please include the reference number you're up to in each market as well as the date? That shouldn't cause any data issues. Thank you.
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Post by RateSetter on May 19, 2020 16:37:29 GMT
Good afternoon. Today we have delivered £1.1m, the full update is below.
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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 19, 2020 18:32:08 GMT
more money being released even with the rate cut we should see nearly 50 million by June. good job!
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Post by james91 on May 19, 2020 19:23:19 GMT
I know this has already been mentioned, and it depends what they mean with such a vague statement, but I'm really struggling to see how there's any truth in '9 out of 10 investors continue to invest'. I'm wondering if they added it to their original statement and they've just forgotten to remove it. The idea that 90% of investors are happily unaware of the incredibly long withdrawal times despite the various emails that have gone out, and therefore haven't requested a full withdrawal, really surprises me.
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chris1200
Member of DD Central
Posts: 827
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Post by chris1200 on May 19, 2020 19:42:34 GMT
I know this has already been mentioned, and it depends what they mean with such a vague statement, but I'm really struggling to see how there's any truth in '9 out of 10 investors continue to invest'. I'm wondering if they added it to their original statement and they've just forgotten to remove it. The idea that 90% of investors are happily unaware of the incredibly long withdrawal times despite the various emails that have gone out, and therefore haven't requested a full withdrawal, really surprises me. It’s possible that they could not be “happily unaware” but also not request a full withdrawal, though, right? I’ve seen plenty of people on this forum who know the situation inside out but have only made a partial withdrawal.
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Post by oppsididitagain on May 19, 2020 20:09:47 GMT
I know this has already been mentioned, and it depends what they mean with such a vague statement, but I'm really struggling to see how there's any truth in '9 out of 10 investors continue to invest'. I'm wondering if they added it to their original statement and they've just forgotten to remove it. The idea that 90% of investors are happily unaware of the incredibly long withdrawal times despite the various emails that have gone out, and therefore haven't requested a full withdrawal, really surprises me. I havent requested a full withdrawal . I have requested some access money , as I need that but left the 1Yr and 5Yr I am hoping my loans either default and I get paid out by the PF or the borrower repays them early. Which has happened twice this month. Also I beleive asking for a full withdrawal will put added pressure/strain on the platform which will benefit no one.
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Post by james91 on May 19, 2020 20:23:45 GMT
My guess is that full withdrawals are more likely to apply to the access market, as the very reason people chose the lower interest rate in the first place is so they could access their money. If we didn't mind a time delay, we would have chosen the 1yr or 5yr market. Given, the withdrawals may well take more than a year, I just can't see many people in the access market not requesting a full withdrawal. Does ratesetter disclose the size of each market?
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adrian77
Member of DD Central
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Post by adrian77 on May 19, 2020 20:49:24 GMT
Maybe I have missed it but we seem to be getting warm words here with smoke and mirrors and few relevant facts
I keep reading that FS are releasing withdrawals requested on the 12th March and keep stating how much has been released - to me the key question is how much was the total requested on this day - if say £100m that that could be another 20 weeks we have to wait...
I thank you - stay healthy
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one21
Member of DD Central
Posts: 398
Likes: 265
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Post by one21 on May 19, 2020 21:10:49 GMT
Maybe I have missed it but we seem to be getting warm words here with smoke and mirrors and few relevant facts I keep reading that FS are releasing withdrawals requested on the 12th March and keep stating how much has been released - to me the key question is how much was the total requested on this day - if say £100m that that could be another 20 weeks we have to wait... I thank you - stay healthy Obviously loans have to be matched to new Lenders in order for funds to be returned under RYI. So if there are fewer Lenders due to higher risk and lower interest rates, the process is going to slow down accordingly. It maybe the case that Lenders will have their funds returned quicker by direct repayment from the borrower than from the RYI process. Edit BTW there seems to be too many threads for this same subject!
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