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Post by Badly Drawn Stickman on Apr 28, 2020 19:48:03 GMT
It seems very little money is being used for Access withdrawals right now. in the last week no more than 100 have been processed. Between my number as next in our list to the last Access in the list is 25,000 places. So just the 5 years to go at the current rate Can’t blame them for prioritising 1 and 5 year I guess when they’re higher rates generally and charge a fee but ‘Access’ is proving the least Access-able. I think ceejay probably has the reason right in this earlier post it made sense when I first read it and events since makes it even more likely. Add to the above that money returned naturally on the access accounts is probably mostly being withdrawn as much as a precaution as anything currently, and you are heading towards a perfect storm on access.
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Post by p2pbbb on Apr 28, 2020 19:57:16 GMT
It seems very little money is being used for Access withdrawals right now. in the last week no more than 100 have been processed. Between my number as next in our list to the last Access in the list is 25,000 places. So just the 5 years to go at the current rate Can’t blame them for prioritising 1 and 5 year I guess when they’re higher rates generally and charge a fee but ‘Access’ is proving the least Access-able. I think ceejay probably has the reason right in this earlier post it made sense when I first read it and events since makes it even more likely. Add to the above that money returned naturally on the access accounts is probably mostly being withdrawn as much as a precaution as anything currently, and you are heading towards a perfect storm on access. Yes unfortunately we will probably see access market RYI come to a complete halt... who in their right mind will put money into access when they can’t get the money out — and at 3%? We will have to rely on repayments solely — and that’s with exposure to loans with longer durations while ratesetter will pocket the rate difference. That’s not okay—FCA will have to investigate their practices.
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Post by p2p2020 on Apr 29, 2020 7:50:16 GMT
Thanks for putting this together - this is very valuable. Please find below my release request (not paid out yet)
RYI release date: 13/3/2020 Time: Afternoon Ref: 375148 Amount: £50k Market: Max
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Post by gar on Apr 29, 2020 8:01:00 GMT
Hello All, Im new to this forum so still learning the bells and whistles on the screen interface so hopefully this will end up in the right place when I post it.
My question is this. Is the table at the front of the thread still being updated? And to throw something meaningful in to bulk this post out a bit, RS emailed me this morning (29/04/20) and confirmed they are still doing returns for requests made on the 12th March.
Regards Gar
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spiral
Member of DD Central
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Post by spiral on Apr 29, 2020 8:12:01 GMT
Is the table at the front of the thread still being updated? Yes, but things are a little slow of late. If you scroll to the bottom of the post in the right hand corner, it tells you when the last edit was carried out.
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Post by ruralres66 on Apr 29, 2020 8:19:09 GMT
And to throw something meaningful in to bulk this post out a bit, RS emailed me this morning (29/04/20) and confirmed they are still doing returns for requests made on the 12th March.Which market (s) are you interested in and which market did the 12th relate to please?
Forgive me, but lock down makes visiting this forum and this thread in particular one of the highlights of my day.... watching and waiting for my number to come up!
I feel like I did as a kid on the penny machines in the amusement arcade!!
Only this is not amusement, it's deadly serious..........but compulsive too. I have never been one for bingo I might add.
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Post by oppsididitagain on Apr 29, 2020 9:03:38 GMT
And to throw something meaningful in to bulk this post out a bit, RS emailed me this morning (29/04/20) and confirmed they are still doing returns for requests made on the 12th March.Which market (s) are you interested in and which market did the 12th relate to please?
Forgive me, but lock down makes visiting this forum and this thread in particular one of the highlights of my day.... watching and waiting for my number to come up!
I feel like I did as a kid on the penny machines in the amusement arcade!!
Only this is not amusement, it's deadly serious..........but compulsive too. I have never been one for bingo I might add.
I posted this yesterday in this Thread I spoke to RS customer service today, just to clarify a few thing on my account and they told me, its basically business as usual , we can still lend and set rates etc as we choose.. Obviously they are a bit more picky who they lend too at the moment . I was also told they are processing withdrawals for : Access March 12 1Yr March 13 5YR March 16 The busiest day for withdrawals was March 16
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savernake
Member of DD Central
Posts: 174
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Post by savernake on Apr 29, 2020 9:12:00 GMT
I think ceejay probably has the reason right in this earlier post it made sense when I first read it and events since makes it even more likely. Add to the above that money returned naturally on the access accounts is probably mostly being withdrawn as much as a precaution as anything currently, and you are heading towards a perfect storm on access. Yes unfortunately we will probably see access market RYI come to a complete halt... who in their right mind will put money into access when they can’t get the money out — and at 3%? We will have to rely on repayments solely — and that’s with exposure to loans with longer durations while ratesetter will pocket the rate difference. That’s not okay—FCA will have to investigate their practices. Some investors massively over exposed themselves to RS, have apparently panicked and slammed in individual withdrawal requests for ridiculously huge sums like £248k. Just a small number of these requests is enough to bring the Access queue to a complete halt and everybody has to wait longer as a result.
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Post by oppsididitagain on Apr 29, 2020 9:17:16 GMT
Yes unfortunately we will probably see access market RYI come to a complete halt... who in their right mind will put money into access when they can’t get the money out — and at 3%? We will have to rely on repayments solely — and that’s with exposure to loans with longer durations while ratesetter will pocket the rate difference. That’s not okay—FCA will have to investigate their practices. Some investors massively over exposed themselves to RS, have apparently panicked and slammed in individual withdrawal requests for ridiculously huge sums like £248k. Just a small number of these requests is enough to bring the Access queue to a complete halt and everybody suffers as a result. Do you think there should be a limit on investments OR do you think there should be a limit of withdrawals in RS The 248K might be a 'small investment' for said individual ..
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Post by p2pbbb on Apr 29, 2020 9:33:50 GMT
Some investors massively over exposed themselves to RS, have apparently panicked and slammed in individual withdrawal requests for ridiculously huge sums like £248k. Just a small number of these requests is enough to bring the Access queue to a complete halt and everybody suffers as a result. Do you think there should be a limit on investments OR do you think there should be a limit of withdrawals in RS The 248K might be a 'small investment' for said individual .. I think the queue is slowing down well before my request -- and I think it is a function of lack of liquidity going into the access market. I actually had a total of ~£360K in RateSetter before I requested the releases. Since then, I have had cumulative repayments of ~£35K -- and so now I have about ~£246K outstanding in Access and ~£76K in 5 year.... so things are getting out through repayments, but I'd much prefer of course RateSetter providing liquidity, which I think they should. It is a significant investment for me -- no doubt -- but I am not overexposed compared to my risk appetite and my other assets. I know it might be annoying to be right behind me in the queue -- I am equally annoyed that I didnt manage to release my investments earlier. Hope you are all well and fine and that we all manage through this.
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savernake
Member of DD Central
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Post by savernake on Apr 29, 2020 9:50:31 GMT
Do you think there should be a limit on investments OR do you think there should be a limit of withdrawals in RS The 248K might be a 'small investment' for said individual .. I think the queue is slowing down well before my request -- and I think it is a function of lack of liquidity going into the access market. I actually had a total of ~£360K in RateSetter before I requested the releases. Since then, I have had cumulative repayments of ~£35K -- and so now I have about ~£246K outstanding in Access and ~£76K in 5 year.... so things are getting out through repayments, but I'd much prefer of course RateSetter providing liquidity, which I think they should. It is a significant investment for me -- no doubt -- but I am not overexposed compared to my risk appetite and my other assets. I know it might be annoying to be right behind me in the queue -- I am equally annoyed that I didnt manage to release my investments earlier. Hope you are all well and fine and that we all manage through this. Yes it is annoying to be right behind you in the queue! However, I apologise for singling you out for criticism and I hope we all get our money back in the fullness of time. Like you, I wish I'd withdrawn my investments earlier. But we live and learn. I hope you also stay safe too. Take care.
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Post by bovinae on Apr 29, 2020 10:25:21 GMT
Access 15.03.2020 evening 376506 Access 15.03.2020 evening 376639 1 year 15.03.2020 evening 376640
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Post by worriedwarrior on Apr 29, 2020 12:40:23 GMT
So where abouts are we in terms of the progress of repayments. I have several requests pending from 22nd March, I fear I may not get any of it for a long time, if at all. I was one of those who has been overstretched with the amount I have invested on Ratesetter, but as already been said.. you live and learn
Thanks.
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arby
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Post by arby on Apr 29, 2020 12:45:31 GMT
So where abouts are we in terms of the progress of repayments. I have several requests pending from 22nd March, I fear I may not get any of it for a long time, if at all. I was one of those who has been overstretched with the amount I have invested on Ratesetter, but as already been said.. you live and learn Thanks. The first page shows where we are. Just look down for the latest repayment on the market you're in. Those in the 5 year market are receiving their return quickest.
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Post by jojo on Apr 29, 2020 12:46:52 GMT
So where abouts are we in terms of the progress of repayments. I have several requests pending from 22nd March, I fear I may not get any of it for a long time, if at all. I was one of those who has been overstretched with the amount I have invested on Ratesetter, but as already been said.. you live and learn Thanks. Please have a look at the first page of this Thread to see the progress of repayments.
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