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Post by stevepn on Jul 28, 2020 8:38:22 GMT
I think that RS have given up trying. There are no new investors at the moment and I presume that as existing investors get their money back the vast majority will not be coming back to Ratesetter, so the only money is now new money being deposited from existing investors or their monthly interest. Only a fool would invest at half the advertised rate in this climate and other previous less savvy existing investors are discovering they don't have to re-invest their monthly interest. RS doesn't have to try as they are playing with your money and my money. Hopefully RS will allow new investors in the New Year (if any are daft enough to join) and the likes of you and me can get out that much quicker.
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Post by ruralres66 on Jul 28, 2020 10:30:35 GMT
RS stated on 07/07/20
19th March in the 1 Year market
31st March in the 5 Year market.
and 28/07/20
20th March in the 1 Year market
20th April in the 5 Year market.
So little movement in 21 days ........... Not looking too good folks......
So...... last advisories are;
cinereus 20/03/2020 18:23 385160 1 Year 10/06/20
BrianC 08/04/2020 396111 5 Year 21/07/20 @ 15:09
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chris1200
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Post by chris1200 on Jul 28, 2020 10:31:57 GMT
We've probably been over this at some point (sorry if so), but has anyone ever asked RS if they can't provide the RYI release numbers on a per-market basis? I understand (and tbh agree with) them not releasing information re the total amount in the queue, but given we already get the daily figures, I don't see why a market breakdown would be a problem? (Unless it shows some very distorted figures that they'd rather not advertise, perhaps.)
Maybe it's just big dogs at the front of the queue, but it's frustrating to see how much money is available for A/P/M each day on the market and not know how much of this is going to RYIs because we don't have a market breakdown. Given that the markets are apparently operating entirely separately for RYIs, the total figure is somewhat meaningless for investors. I don't think A/P/M has moved forward for about a week now in terms of actual processing (i.e. excluding cancellations), and this would help understand whether it's just a big dog or not.*
(*I'm starting to sound like the whiners, I know.)
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Jul 28, 2020 10:59:24 GMT
I think that RS have given up trying. based on ? releasing 75 million pounds + not losing a penny of capital? what suggestion do you have?
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aju
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Post by aju on Jul 28, 2020 11:07:41 GMT
We've probably been over this at some point (sorry if so), but has anyone ever asked RS if they can't provide the RYI release numbers on a per-market basis? I understand (and tbh agree with) them not releasing information re the total amount in the queue, but given we already get the daily figures, I don't see why a market breakdown would be a problem? (Unless it shows some very distorted figures that they'd rather not advertise, perhaps.) Maybe it's just big dogs at the front of the queue, but it's frustrating to see how much money is available for A/P/M each day on the market and not know how much of this is going to RYIs because we don't have a market breakdown. Given that the markets are apparently operating entirely separately for RYIs, the total figure is somewhat meaningless for investors. I don't think A/P/M has moved forward for about a week now in terms of actual processing (i.e. excluding cancellations), and this would help understand whether it's just a big dog or not.* (*I'm starting to sound like the whiners, I know.) There was a big dog as you call it making statements the other day, £240k I think they quoted, but I also think they suggested they might be towards the back of the queue. I can't find them now but I'm guessing there are much bigger players than that and they may well be the more astute among us and got in much earlier. Mind you you wouldn't have to be that astute to be ahead of myself and Mrs Aju. I agree on the premise that knowing the numbers divi'd off to the relevant queues won't really be of much use as each one in itself is independent to a certain degree. I think a comparison of the monthly stats may be of use perhaps if/when it comes not that I've checked previous months to see what is comparable anyway. Looking at wiseclerk 's site it seems there are new loans forming but not sure where they source the details (Its recorded in euros if you go there so knowing the day of conversion to establish £'s might be of use). Edit: Actually there are 2 people declaring £240k just use the search function as I say I have not checked their positions if they are recorded at all.
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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 Jul 28, 2020 11:11:15 GMT
I think that RS have given up trying. There are no new investors at the moment and I presume that as existing investors get their money back the vast majority will not be coming back to Ratesetter, so the only money is now new money being deposited from existing investors or their monthly interest. Only a fool would invest at half the advertised rate in this climate and other previous less savvy existing investors are discovering they don't have to re-invest their monthly interest. RS doesn't have to try as they are playing with your money and my money. Hopefully RS will allow new investors in the New Year (if any are daft enough to join) and the likes of you and me can get out that much quicker.
how are they playing with your money? it is the terms you agreed to and were happy with when it was all smooth. You made the choice to invest, what suggestion do you have on how to manage a loan book with defaulting borrowers, shaky economic forecasts, protecting investor capital and keep lending due to contractual purposes. the reduced rate is to ensure your capital is protected - would you rather a couple of % more or a capital haircut. apologies if i sound rude here but this is my opinion a silly comment.
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chris1200
Member of DD Central
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Post by chris1200 on Jul 28, 2020 11:17:14 GMT
There was a big dog as you call it making statements the other day, £240k I think they quoted, but I also think they suggested they might be towards the back of the queue. I can't find them now but I'm guessing there are much bigger players than that and they may well be the more astute among us and got in much earlier. Mind you you wouldn't have to be that astute to be ahead of myself and Mrs Aju. I agree on the premise that knowing the numbers divi'd off to the relevant queues won't really be of much use as each one in itself is independent to a certain degree. I think a comparison of the monthly stats may be of use perhaps if/when it comes not that I've checked previous months to see what is comparable anyway. Looking at wiseclerk 's site it seems there are new loans forming but not sure where they source the details (Its recorded in euros if you go there so knowing the day of conversion to establish £'s might be of use). Edit: Actually there are 2 people declaring £240k just use the search function as I say I have not checked their positions if they are recorded at all. Yes these big dogs certainly exist, it's just that it's unknowable where they are in the queue (save for the tiny minority who are declared big dogs on this forum!). So when we hit a wall, we don't know if it's lack of £££, or it's all being gobbled up by one investor. And yeah we can look at all the stats we like to try to guess; but this would be the actual numbers, and I can't think of a good reason not to provide them given what RS already tells us (unless, as I said previously, it's really not pretty viewing). Anyway, I've asked the question. Will see what they say. Maybe others could too if they wish to see this data? Even a weekly breakdown would be fine.
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Post by bornconfused on Jul 28, 2020 11:34:53 GMT
There was a big dog as you call it making statements the other day, £240k I think they quoted, but I also think they suggested they might be towards the back of the queue. I can't find them now but I'm guessing there are much bigger players than that and they may well be the more astute among us and got in much earlier. Mind you you wouldn't have to be that astute to be ahead of myself and Mrs Aju. I agree on the premise that knowing the numbers divi'd off to the relevant queues won't really be of much use as each one in itself is independent to a certain degree. I think a comparison of the monthly stats may be of use perhaps if/when it comes not that I've checked previous months to see what is comparable anyway. Looking at wiseclerk 's site it seems there are new loans forming but not sure where they source the details (Its recorded in euros if you go there so knowing the day of conversion to establish £'s might be of use). Edit: Actually there are 2 people declaring £240k just use the search function as I say I have not checked their positions if they are recorded at all. Yes these big dogs certainly exist, it's just that it's unknowable where they are in the queue (save for the tiny minority who are declared big dogs on this forum!). So when we hit a wall, we don't know if it's lack of £££, or it's all being gobbled up by one investor. And yeah we can look at all the stats we like to try to guess; but this would be the actual numbers, and I can't think of a good reason not to provide them given what RS already tells us (unless, as I said previously, it's really not pretty viewing). Anyway, I've asked the question. Will see what they say. Maybe others could too if they wish to see this data? Even a weekly breakdown would be fine. Neil Woodford was an investor in Ratesetter. If he has a £15M RYI request in the queue ahead of you. That might explain the slow progress in the access queue
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aju
Member of DD Central
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Post by aju on Jul 28, 2020 11:37:56 GMT
There was a big dog as you call it making statements the other day, £240k I think they quoted, but I also think they suggested they might be towards the back of the queue. I can't find them now but I'm guessing there are much bigger players than that and they may well be the more astute among us and got in much earlier. Mind you you wouldn't have to be that astute to be ahead of myself and Mrs Aju. I agree on the premise that knowing the numbers divi'd off to the relevant queues won't really be of much use as each one in itself is independent to a certain degree. I think a comparison of the monthly stats may be of use perhaps if/when it comes not that I've checked previous months to see what is comparable anyway. Looking at wiseclerk 's site it seems there are new loans forming but not sure where they source the details (Its recorded in euros if you go there so knowing the day of conversion to establish £'s might be of use). Edit: Actually there are 2 people declaring £240k just use the search function as I say I have not checked their positions if they are recorded at all. Yes these big dogs certainly exist, it's just that it's unknowable where they are in the queue (save for the tiny minority who are declared big dogs on this forum!). So when we hit a wall, we don't know if it's lack of £££, or it's all being gobbled up by one investor. And yeah we can look at all the stats we like to try to guess; but this would be the actual numbers, and I can't think of a good reason not to provide them given what RS already tells us (unless, as I said previously, it's really not pretty viewing). Anyway, I've asked the question. Will see what they say. Maybe others could too if they wish to see this data? Even a weekly breakdown would be fine. To be honest thats where I think Zopa wins hands down with their queue approach, not sure how RS would achieve it even if they wanted to but what I found after my initial push back on the Zopa queue was that we still got some money out but spread over longer period. That said if I had 100k let alone 240k i'd be worrying a lot more if it was taking long time for everyone even though at that level its all about the individual I guess. Thing is we are just at the start of these issues IMHO in the next few months or so there are going to be many more people in a much worse predicament that any of us on here, well at least the ones who seem to know what they are doing and not committing money that they need quickly. The default rate is going to spike just like the virus but potentially in an even worse way...
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chris1200
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Post by chris1200 on Jul 28, 2020 11:45:48 GMT
Neil Woodford was an investor in Ratesetter. If he has a £15M RYI request in the queue ahead of you. That might explain the slow progress in the access queue I don't even know where to start with this... Presumably this is a joke, though? (It's hard to tell on here sometimes...)
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 28, 2020 12:01:24 GMT
Neil Woodford was an investor in Ratesetter. If he has a £15M RYI request in the queue ahead of you. That might explain the slow progress in the access queue I don't even know where to start with this... Presumably this is a joke, though? (It's hard to tell on here sometimes...) I assume Woodford was an equity investor not a loan investor. The new manager appears to have increased their holding as it is now 3.2% of the portfolio compared to 1.2% in Dec 2019 report
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chris1200
Member of DD Central
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Post by chris1200 on Jul 28, 2020 12:10:04 GMT
I don't even know where to start with this... Presumably this is a joke, though? (It's hard to tell on here sometimes...) I assume Woodford was an equity investor not a loan investor. The new manager appears to have increased their holding as it is now 3.2% of the portfolio compared to 1.2% in Dec 2019 report Well, quite - this was my point about whether it was a joke or not (Not to mention that the post completely missed my point, but that's another issue...)
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chris1200
Member of DD Central
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Post by chris1200 on Jul 28, 2020 12:38:41 GMT
We've probably been over this at some point (sorry if so), but has anyone ever asked RS if they can't provide the RYI release numbers on a per-market basis? I understand (and tbh agree with) them not releasing information re the total amount in the queue, but given we already get the daily figures, I don't see why a market breakdown would be a problem? (Unless it shows some very distorted figures that they'd rather not advertise, perhaps.) Maybe it's just big dogs at the front of the queue, but it's frustrating to see how much money is available for A/P/M each day on the market and not know how much of this is going to RYIs because we don't have a market breakdown. Given that the markets are apparently operating entirely separately for RYIs, the total figure is somewhat meaningless for investors. I don't think A/P/M has moved forward for about a week now in terms of actual processing (i.e. excluding cancellations), and this would help understand whether it's just a big dog or not.* (*I'm starting to sound like the whiners, I know.) Credit for a fairly rapid response, at least. I've been told: "At this moment in time, as per business decision, we are unable to provide a breakdown for each market.However, I will pass your request on to management to see if this is something we can introduce in the future."If others do want to see this breakdown, it might be worth making similar representations.
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aju
Member of DD Central
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Post by aju on Jul 28, 2020 13:28:32 GMT
We've probably been over this at some point (sorry if so), but has anyone ever asked RS if they can't provide the RYI release numbers on a per-market basis? I understand (and tbh agree with) them not releasing information re the total amount in the queue, but given we already get the daily figures, I don't see why a market breakdown would be a problem? (Unless it shows some very distorted figures that they'd rather not advertise, perhaps.) Maybe it's just big dogs at the front of the queue, but it's frustrating to see how much money is available for A/P/M each day on the market and not know how much of this is going to RYIs because we don't have a market breakdown. Given that the markets are apparently operating entirely separately for RYIs, the total figure is somewhat meaningless for investors. I don't think A/P/M has moved forward for about a week now in terms of actual processing (i.e. excluding cancellations), and this would help understand whether it's just a big dog or not.* (*I'm starting to sound like the whiners, I know.) Credit for a fairly rapid response, at least. I've been told: "At this moment in time, as per business decision, we are unable to provide a breakdown for each market.However, I will pass your request on to management to see if this is something we can introduce in the future."If others do want to see this breakdown, it might be worth making similar representations. At least they acknowledged it was business decision, sadly I'm not sure it will help except I would say that 5Y and 1Y are getting closer for us every day, at least they are where our most money is. We still have one account that has quite a bit of access though. We are getting quite a bit with loans closing too. I'm guessing many were due but have not checked as not really that bothered as long as I don't miss them and inadvertently end up lending more by mistake. As I said elsewhere the new lend on all accounts seems to be restricted to Max 8% but the relend so far is still 10% but for how much longer that will last is not clear.
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chris1200
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Post by chris1200 on Jul 28, 2020 13:33:28 GMT
At least they acknowledged it was business decision, sadly I'm not sure it will help except I would say that 5Y and 1Y are getting closer for us every day, at least they are where our most money is. We still have one account that has quite a bit of access though. We are getting quite a bit with loans closing too. I'm guessing many were due but have not checked as not really that bothered as long as I don't miss them and inadvertently end up lending more by mistake. As I said elsewhere the new lend on all accounts seems to be restricted to Max 8% but the relend so far is still 10% but for how much longer that will last is not clear. Sorry, aju, I'm not sure I follow the relevance of this to what I was posting about...
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