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Post by ruralres66 on May 4, 2020 16:39:28 GMT
Hi, if anyone is interested, just had an email response from ratesetter. I actioned the RYI function on the 16th March in the one year market, I, m likely to get this repaid within 14 days. I also have a request in for the access, max and plus from the 13th March, I have been advised that this could still take over 3 months from now. Not what I was expecting. I am indeed very interested in the light of the recent PF and rate cut developments. I too decided to RYI in the early hours of the 17th after ruminating on the 16th.
On the table generated on the 9th April and updated regularly, your RYI doesn't appear.
The nearest one to my RYI in the 1 year and paid is;
bovinae 15/03/2020 eve. 376640 1 Year - 01/05/20 @ 15:30
Mine is shown as next;
ruralres66 17/03/2020 (about 4.30am) 379182 1 Year (a six figure sum)
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Post by danny101 on May 4, 2020 17:24:50 GMT
Hi, I requested RYI 1 year market Monday 16th, I think 11am ish.378292. Advised from last Friday they are processing the 16th from now, but as already said could be 2 weeks.
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Post by diversifier on May 4, 2020 23:24:58 GMT
That's a good point, we'll have had interest payment re-investment too. You'd imagine it'll certainly add a fair few to the RYI queue, that's for sure. And halve the amount from reinvestment that is available to fund RYIs. It will make a small difference, but not that bad. The borrower payments (ultimate source of the funding for RYIs) consist of both capital repayments and interest repayments. If the average loan term is 28 months, then each month we received 3.6% capital repayment and 0.25% interest repayment. Halving the interest should only make the RYI queue go 3% slower. The big effect will be that most people in Access-type accounts will now RYI as soon as they pay attention, as the sellout fee is negligible. There’s no real advantage to stay invested for only 1.5%,irrespective of capital safety. On the term accounts, there’s also the sellout fee to consider, and some loss of interest. RS could fix all of the RYI queueing, by the way, with a wave of the pen. Just let the Market Rate float, and sellers pay the Market Rate Adjustment. Every transaction would have a willing seller and willing buyer. Sellers would grumble at paying the MRA, but if they don’t like it they can remain invested and ride the loan through to completion. Risk-seeking Buyers would be minting it. That’s the way the platform was designed to work originally, I don’t know why they changed it.
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aju
Member of DD Central
Posts: 3,496
Likes: 923
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Post by aju on May 4, 2020 23:40:55 GMT
Here are my mine and Mrs Aju's requested funds and ref numbers.
Name Date Time Ref Amount Market aju 04/05/2020 19:38 403187 £400 Access ISA 403188 £600 1 Year ISA 403189 £4k 5 Year ISA
Name Date Time Ref Amount Market aju 04/05/2020 23:56 403396 £870 5 Year E/D
Name Date Time Ref Amount Market MrsAju 05/05/2020 00:07 403400 £36 Access E/D 403401 £3k 5 Year E/D
Name Date Time Ref Amount Market MrsAju 05/05/2020 00:15 403404 £690 Access ISA 403405 £2k 1 Year ISA 403406 £7,5k 5 Year ISA
I remembered to keep something behind in the 1Y and the 5y of the ISA's in case I come back after offloading funds and those products remain.
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Post by hereshopin on May 5, 2020 4:59:01 GMT
Hi, if anyone is interested, just had an email response from ratesetter. I actioned the RYI function on the 16th March in the one year market, I, m likely to get this repaid within 14 days. I also have a request in for the access, max and plus from the 13th March, I have been advised that this could still take over 3 months from now. Not what I was expecting.
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Post by hereshopin on May 5, 2020 5:07:47 GMT
I just wish everyone on this board good luck. Hopefully we will all get our money back. Feel totally sha-ted by the whole situation. If I manage to walk away from this with my hard earned money for sure I won’t touch P2P ever again. Some great contributors on here at least we are not alone. It does help.
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Post by hereshopin on May 5, 2020 5:14:18 GMT
Sorry here’s hoping seem to have picked the same name as you. Apologies will differentiate if I post again.
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Post by Ton ⓉⓞⓃ on May 5, 2020 8:02:23 GMT
Sorry here’s hoping seem to have picked the same name as you. Apologies will differentiate if I post again.
Welcome to the forum, I've sent you a private message (PM) - Look for a little while bubble with a number 1 in it (at the top of your screen), that's my message.
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Post by nervousnelly on May 5, 2020 10:34:00 GMT
15/03/20 376633 £10k - Access, approx 8pm
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Post by ruralres66 on May 5, 2020 10:38:29 GMT
Some more for the queue 20/3/20 384771 £2.5k 20/3/20 384783 £2.5k 20/3/20 384787 £10k 20/3/20 384790 £10k It helps to know which market?
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Post by ruralres66 on May 5, 2020 10:39:06 GMT
15/03/20 376633 £10k - approx 8pm As I said of the above, it helps to know which market?
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Post by nervousnelly on May 5, 2020 11:55:28 GMT
Access
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Post by bouncycastle on May 5, 2020 15:51:39 GMT
373816 all in Access
Thank you!
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Post by bouncycastle on May 5, 2020 15:52:14 GMT
373816 all in Access Thank you! Requested on the 12/3
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gg
Posts: 83
Likes: 61
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Post by gg on May 5, 2020 16:08:39 GMT
Are people providing updates? If so, nothing returned for over two weeks in the 5 year market doesn’t bode well.
gg
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